July 8, 2021

alt text

As Ritu Jyoti, program vice president for AI research at research firm IDC, puts it, the pandemic of 2020 and 2021 has pushed artificial intelligence “to the top of the corporate agenda.” And that’s leading to a surge in demand for enterprise AI platforms, IDC reports. For 2021, revenue in the global AI market is expected to jump by 16.4 percent, to reach $327.5 billion, according to the research firm. And AI software represents the vast majority—88 percent—of total AI market revenues, IDC says.

“AI is becoming ubiquitous across all the functional areas of a business,” Jyoti said in a news release announcing IDC’s AI market projections. “Advancements in Machine Learning, Conversational AI, and Computer Vision AI are at the forefront of AI software innovations, architecting converged business and IT process optimizations, predictions and recommendations, and enabling transformative customer and employee experiences.”

Check out the full article here