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AI technology’s global spending hit $ 77.6 billion

Saturday 22 September 2018 01:51 PM

AI technology
AI technology

A recent report by the market research corporation (IDC) predicts an increase in global corporate spending on artificial intelligence technology and the purchase of interactive systems in 2022 to $ 77.6 billion, three times more than this year's $ 24 billion

The report said that software will be the fastest growing, accounting for 40% of expenditure at a compound annual growth rate of 43.1% for 5 years, adding that AI applications will play a major role in the development of smart learning programs.

It stressed that customer service will be one of the most spending areas on the new technology worth $ 2.9 billion, followed by intelligence systems by $ 1.9 billion, and preventive maintenance by $ 1.7 billion.