Widespread adoption of cognitive systems and AI across a broad range of industries will drive worldwide revenues from nearly $8 billion in 2016 to more than $47 billion in 2020, according to the International Data Corporation (IDC) new Spending Guide. The market for cognitive/AI solutions will experience a compound annual growth rate (CAGR) of 55.1% over the 2016-2020 forecast period, highlighting the tremendous growth and rate of adoption for these technologies. The guide also revealed that this exponential growth of AI and machine learning technologies is bound to impact the UC industry. While widespread use of AI in the UC industry is still a few years out, AI will slowly start integrating with UC collaboration tools and has the potential to transform the industry over time. "Software developers and end user organisations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process," said David Schubmehl, research director, Cognitive Systems and Content Analytics at IDC. "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organisations to be planning and undertaking strategies that incorporate these wide-ranging technologies. Identifying, understanding, and acting on the use cases, technologies, and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant."

Spending on cognitive systems and artificial intelligence (AI) across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. In its Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide IDC said the market for cognitive/AI solutions will experience a compound annual growth rate (CAGR) of 55.1 per cent over the 2016-2020 forecast period. According to David Schubmehl, research director, Cognitive Systems and Content Analytics at IDC, "Software developers and end user organizations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process" "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organizations to be planning and undertaking strategies that incorporate these wide-ranging technologies," he said. Schubmehl said identifying, understanding, and acting on the use cases, technologies, and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant. The ability to recognize and respond to data flows using algorithms and rule-based logic enables cognitive/AI systems to automate a broad range of functions across many industries.

Spending on cognitive systems and artificial intelligence (AI) across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. In its Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide IDC said the market for cognitive/AI solutions will experience a compound annual growth rate (CAGR) of 55.1 per cent over the 2016-2020 forecast period. According to David Schubmehl, research director, Cognitive Systems and Content Analytics at IDC, "Software developers and end user organizations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process" "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organizations to be planning and undertaking strategies that incorporate these wide-ranging technologies," he said. Schubmehl said identifying, understanding, and acting on the use cases, technologies, and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant. The ability to recognize and respond to data flows using algorithms and rule-based logic enables cognitive/AI systems to automate a broad range of functions across many industries.

Widespread adoption of cognitive systems and artificial intelligence across a broad range of industries will drive worldwide revenues from nearly $8.0 billion in 2016 to more than $47 billion in 2020. According to the Worldwide Semiannual Cognitive/Artificial Intelligence Systems Spending Guide from IDC, the market for cognitive/AI solutions will experience a compound annual growth rate of 55.1% over the 2016-2020 forecast period. "Software developers and end user organisations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process," said David Schubmehl, research director, Cognitive Systems and Content Analytics at IDC. "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for "Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organisations to be planning and undertaking strategies that incorporate these wide-ranging technologies. Identifying, understanding, and acting on the use cases, technologies, and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant." The ability to recognise and respond to data flows using algorithms and rule-based logic enables cognitive/AI systems to automate a broad range of functions across many industries. The use cases that are attracting the most investment in 2016 are automated customer service agents, quality management investigation and recommendation systems, diagnosis and treatment systems, and fraud analysis and investigation. The use cases that will experience the fastest revenue growth over the next five years are public safety and emergency response, pharmaceutical research and discovery, diagnosis and treatment systems, supply and logistics, quality management investigation and recommendation systems, and fleet management. The use cases that are attracting the most investment in 2016 are automated customer service agents, quality management investigation and recommendation systems, diagnosis and treatment systems, and fraud analysis and investigation. The use cases that will experience the fastest revenue growth over the next five years are public safety and emergency response, pharmaceutical research and discovery, diagnosis and treatment systems, supply and logistics, quality management investigation and recommendation systems, and fleet management. "Near-term opportunities for cognitive systems are in industries such as banking, securities and investments, and manufacturing," said Jessica Goepfert, program director, Customer Insights and Analysis at IDC. "In these segments, we find a wealth of unstructured data, a desire to harness insights from this information, and an openness to innovative technologies.