Global AI spending to hit US$62B

Global artificial intelligence (AI) software spending will grow 21.3 per cent to US$62 billion next year, according to analyst firm Gartner. Knowledge management, virtual assistants, autonomous vehicles, digital workplace and crowdsourced data will make up the top five use cases for AI software spending in 2022. The forecast report focused on applications with AI embedded in them, such as computer vision software, as well as software that is used to build AI systems. "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," Gartner senior research director Alys Woodward said. Demand for AI technologies and associated market growth is closely tied to organisational AI maturity levels, the report said.