{"id":1990,"date":"2019-10-04T02:48:08","date_gmt":"2019-10-04T02:48:08","guid":{"rendered":"http:\/\/kusuaks7\/?p=1595"},"modified":"2024-03-14T13:31:19","modified_gmt":"2024-03-14T13:31:19","slug":"not-spending-on-ai-yet-dont-worry-you-probably-will","status":"publish","type":"post","link":"https:\/\/www.experfy.com\/blog\/ai-ml\/not-spending-on-ai-yet-dont-worry-you-probably-will\/","title":{"rendered":"Not spending on AI yet? Don\u2019t worry, you probably will"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1990\" class=\"elementor elementor-1990\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-26b5f0d6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26b5f0d6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-59d75a87\" data-id=\"59d75a87\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1874b7b8 elementor-widget elementor-widget-text-editor\" data-id=\"1874b7b8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tWorldwide spending on artificial intelligence (AI) systems will reach $35.8 billion in 2019, according to IDC\u2019s latest\u00a0<a href=\"https:\/\/www.idc.com\/getdoc.jsp?containerId=IDC_P33198\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">projections<\/a>, a whopping 44 per cent increase over the amount spent in 2018. By 2022, that number is expected to more than double to $79.2 billion (all figures USD), equating to a 38 per cent compound annual growth rate (CAGR) over the 2018-2022 period.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91516a4 elementor-widget elementor-widget-text-editor\" data-id=\"91516a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tSome of the more immediate applications of this technology \u2013 which we\u2019re seeing already today \u2013 will be found in the retail industry where companies will spend nearly $6 billion on automated customer service agents and shopping advisor solutions. Banking won\u2019t be far behind. IDC says the financial sector will spend $5.6 billion on automated threat intelligence and prevention systems, and fraud analysis.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d14d08 elementor-widget elementor-widget-text-editor\" data-id=\"6d14d08\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tMarianne Daquila, research manager of customer insights and analysis at IDC, says it\u2019s safe to assume advancements in AI will drive double-digit year-over-year spending for the next decade.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b2c2c49 elementor-widget elementor-widget-text-editor\" data-id=\"b2c2c49\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\u201cSignificant worldwide artificial intelligence systems spend can now be seen within every industry as AI initiatives continue to optimize operations, transform the customer experience, and create new products and services,\u201d Daquila said in a press release.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c26fc83 elementor-widget elementor-widget-text-editor\" data-id=\"c26fc83\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tDiscrete manufacturing, healthcare providers, and process manufacturing round out the remaining industries in the top five for AI systems spending this year.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5bddce5 elementor-widget elementor-widget-heading\" data-id=\"5bddce5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\"><h3>What exactly did IDC look at in its AI systems spending report?<\/h3>\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db11d28 elementor-widget elementor-widget-text-editor\" data-id=\"db11d28\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li>9 regions: The United States, Canada, PRC, Japan, Western Europe, Central and Eastern Europe, Middle East and Africa, Latin America, and Asia\/Pacific<\/li>\n \t<li>19 industries: Banking, insurance, securities and investment services, discrete manufacturing, process manufacturing, construction, resource industries, retail, wholesale, professional services, personal and consumer services, transportation, healthcare provider, federal\/central government, state\/local government, education, telecommunications, media, and utilities<\/li>\n \t<li>20+ use cases including: Automated customer service agents, automated threat intelligence and prevention systems, fraud analysis and investigation, expert shopping advisors and product recommendations, and others<\/li>\n \t<li>6 technology markets: Business Services, Cognitive Applications, Cognitive Platform, IT Services, Server, and Storage<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d86d24b elementor-widget elementor-widget-text-editor\" data-id=\"d86d24b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThe largest area of AI systems spending this year will be on AI applications and software platforms, at nearly $13.5 billion. IDC says AI applications will be the fastest growing category of all AI spending with a five-year CAGR of 47 per cent. And, of course, there\u2019s the hardware supporting the infrastructure needed to support those AI systems. This year hardware spending will be dominated by servers at $12.7 billion.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10745c2 elementor-widget elementor-widget-text-editor\" data-id=\"10745c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tMost channel partners likely understand the opportunities in front of them when it comes to integration, consulting and managed services, but it\u2019s worth noting again. IDC says by 2022, AI-related services spending will nearly equal hardware spending. David Schubmehl, research director of cognitive artificial intelligence systems for IDC, says organizations are fully aware of the potential efficiencies AI can deliver, which is why they are willing to spend so much despite the ongoing challenges they face when it comes to implementation.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69baa34 elementor-widget elementor-widget-text-editor\" data-id=\"69baa34\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\u201cThey are finding that they can help to significantly improve the bottom line of their enterprises by reducing costs, improving revenue, and providing better, faster access to information thereby improving decision making,\u201d Schubmehl said in the release.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a98665a elementor-widget elementor-widget-text-editor\" data-id=\"a98665a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tThis year, the U.S. will deliver nearly 66 per cent of all spending on AI systems, led by the retail and banking sectors. Japan will have the strongest spending growth over the five-year forecast, with a CAGR of 51.4 per cent.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff78067 elementor-widget elementor-widget-text-editor\" data-id=\"ff78067\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIDC didn\u2019t single out Canada, but based on Canada\u2019s inability to deploy AI successfully \u2013 Gartner says Canada ranks last out of 10 countries when it comes to the deployment of AI \u2013 and the fact that small businesses dominate Canada, it\u2019s safe to assume Canada\u2019s spending on AI won\u2019t compare to Japan and the U.S.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eafd697 elementor-widget elementor-widget-text-editor\" data-id=\"eafd697\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\nThis article has appeared in <a href=\"https:\/\/www.itworldcanada.com\/article\/not-spending-on-ai-yet-dont-worry-you-probably-will\/415873\" class=\"broken_link\" rel=\"noopener\">ITWorld Canada<\/a>.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Worldwide spending on artificial intelligence (AI) systems will reach $35.8 billion in 2019, according to IDC\u2019s latest\u00a0projections, a whopping 44 per cent increase over the amount spent in 2018. By 2022, that number is expected to more than double to $79.2 billion (all figures USD), equating to a 38 per cent compound annual growth rate<\/p>\n","protected":false},"author":652,"featured_media":4138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[183],"tags":[97],"ppma_author":[3406],"class_list":["post-1990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai-ml","tag-artificial-intelligence"],"authors":[{"term_id":3406,"user_id":652,"is_guest":0,"slug":"alex-coop","display_name":"Alex Coop","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","user_url":"","last_name":"Coop","first_name":"Alex","job_title":"","description":"Alex Coop is Managing Editor at IT World Canada (ITWC). His bylines have also appeared in the National and Financial Post."}],"_links":{"self":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/1990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/users\/652"}],"replies":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/comments?post=1990"}],"version-history":[{"count":4,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/1990\/revisions"}],"predecessor-version":[{"id":36449,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/1990\/revisions\/36449"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media\/4138"}],"wp:attachment":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media?parent=1990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/categories?post=1990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/tags?post=1990"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/ppma_author?post=1990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}