CIOs feel that AI centers can work as a motivating factor for increasing interest in AI adoption by organizations. The early adopter companies to do so didn't even have names specifically as AI-based centers; they were referred to as analytics CoE, predictive analytics CoE, etc. Traditionally it used to be a single person department; the practice has slowly changed to the departments blowing up to be full-fledged research centers with full-time employed engineers and scientists. CIOs believe that once an AI CoE is established with common platforms and in-house experts, the next course of action is to share the best practices throughout the organization. AI tech is not organization boundaries specific. AI CoEs help understand which kind of deep AI expertise is required for which particular issue.

Global spending on artificial intelligence technologies will double to $110 billion by 2024 as AI use grows to bolster the competitiveness and digital transformations of more businesses and other organizations. That's the conclusion of a new IDC Worldwide Artificial Intelligence Guide, which examines AI use, trends and markets over the next four years. AI spending in 2020 is estimated at $50.1 billion, but that figure will more than double as new AI use cases and technology improvements continue, according to the guide. The compound annual growth rate (CAGR) for the 2019-2024 period will be 20.1%. The biggest AI business drivers include delivering improved customer experiences and helping employees get better at their jobs, according to the guide.

It's no mystery that artificial intelligence (AI) is rapidly becoming a key enterprise technology. Recent research from Gartner, CIO Agenda 2019: Digital Maturity Reaches a Tipping Point, shows just how much ground AI has made over the past four years. Results showed that organizations across all industries use AI in a variety of applications, but struggle with acute talent shortages. The purpose of the Gartner study is to help CIOs and other IT leaders set and validate their management agendas. Gartner gathered data from more than 3,000 CIO respondents in 89 countries across major industries, representing $15 trillion in revenue and public-sector budgets and $284 billion in IT spending.