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The global revenues for the artificial intelligence (AI) market, including software, hardware, and services, is forecast to grow 19.6 per cent (on-year) in 2022 to $432.8 billion, according to a new report. The market is expected to break the $500 billion mark in 2023, reports International Data Corporation (IDC). AI solutions are currently focused on business process problems and range from human augmentation to process improvement to planning and forecasting, empowering superior decisioning and outcomes. "Advancements in language, voice and vision technologies, and multi-modal AI solutions are revolutionizing human efficiencies," said Ritu Jyoti, group VP, Worldwide Artificial Intelligence (AI) and Automation Research at IDC. AI software will see its share of spending decline slightly in 2022 as spending for AI hardware and services grows more quickly. This trend will continue into 2023.