IDC: AI Spending Will Rise Over $46 Billion by 2026 in Asia/Pacific*

SINGAPORE, September 27, 2022 – Asia/Pacific* spending on AI systems (including hardware, software, and services) will rise from $20.6 billion in 2022 to around $46.6 billion in 2026, according to IDC's latest Worldwide Artificial Intelligence Spending Guide. Artificial intelligence (AI) solutions have become an essential part of process improvement and business decision-making, assisting organizations in keeping up with market viability. IDC forecasts a compound annual growth rate (CAGR) of 23.7 percent for 2021-2026. "Pre-trained natural language and computer vision models have contributed largely to the 1st wave of adoptions. It's time for more organizations to tap into their own data asset and start managing the "data to intelligence" lifecycle. This will become one of the differentiating capabilities for companies to compete in the digital-first era," says Jessie Danqing Cai, Associate Research Director, Artificial Intelligence, IDC Asia/Pacific.