Investment in Machine Learning Keeps Growing, DataRobot Finds

After years of double-digit growth in machine learning investments, nearly 90% of companies grew their machine learning budgets again from 2020 to 2021, according to a survey from DataRobot, which also documented the top struggles that companies have with machine learning. For DataRobot's report, titled "5 Latest Trends in Enterprise Machine Learning," the AI cloud vendor surveyed about 400 companies about their AI and ML strategies. The survey showed that 86% of the companies surveyed planned to increase their spending on ML, compared ot 10% who planned no increase and just 4% who planned to spend less. While the number of companies planning to increase their 2021 spending on ML by 1% to 25% relative to 2020 declined compared to the previous two years, DataRobot spotted significant increase in companies planning to increase their spending by 26% or more. Where is all this money going?