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