SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 25 Nov, 2021  

Gartner Logo THMB Global AI software market to hit $62 bn in 2022: Gartner

IT.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 25 Nov, 2021
Global artificial intelligence (AI) software revenue is forecast to reach $62.5 billion in 2022, an increase of 21.3 per cent from 2021, according to Gartner.

The top five use cases for AI software spending in 2022 will be knowledge management, virtual assistants, autonomous vehicles, digital workplace and crowdsourced data.

"The AI software market is picking up speed, but its long-term trajectory will depend on enterprises advancing their AI maturity," said Alys Woodward, senior research director at Gartner.

The AI software market encompasses applications with AI embedded in them, such as computer vision software, as well as software that is used to build AI systems.

"Successful AI business outcomes will depend on the careful selection of use cases," said Woodward.

"Use cases that deliver significant business value, yet can be scaled to reduce risk, are critical to demonstrate the impact of AI investment to business stakeholders," he added.

Demand for AI technologies and associated market growth is closely tied to organisational AI maturity levels.

Enterprises continue to demonstrate a strong interest in AI, with 48 per cent of CIOs in the 2022 Gartner survey responding that they have already deployed or plan to deploy AI and machine learning technologies within the next 12 months.

Yet, the reality of AI deployment is much more limited.

Gartner found that organisations commonly experiment with AI but struggle to make the technology a part of their standard operations.

The report predicted that it will take until 2025 for half of organizations worldwide to reach what the "stabilisation stage" of AI maturity or beyond.

"Advances in AI maturity will increase AI software revenue due to increased spending, particularly across the data and analytics-related technology category," the report mentioned.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter