NEEDHAM, Mass., March 7, 2023 – A new forecast from the International Data Corporation (IDC) Worldwide Artificial Intelligence Spending Guide shows that global spending on artificial intelligence (AI), including software, hardware, and services for AI-centric systems*, will reach $154 billion in 2023, an increase of 26.9% over the amount spent in 2022. The ongoing incorporation of AI into a wide range of products will result in a compound annual growth rate (CAGR) of 27.0% over the 2022-2026 forecast with spending on AI-centric systems expected to surpass $300 billion in 2026. "Companies that are slow to adopt AI will be left behind – large and small. AI is best used in these companies to augment human abilities, automate repetitive tasks, provide personalized recommendations, and make data-driven decisions with speed and accuracy," said Mike Glennon, senior market research analyst with IDC's Customer Insights & Analysis team. "Suppliers of AI technologies need to know which are the largest and fastest growing opportunities, but without data they become just another opinion. IDC's AI Spending Guide provides the foundation for marketing strategy through its comprehensive coverage of AI opportunities and gives a robust basis for a market focus that ties with companies' capabilities."

Worldwide spending on artificial intelligence will double over the next four years to reach $110 billion in 2024, according to new spending figures released by IDC. The analyst firm says spending will grow on AI will grow from $50.1 billion in 2020 to more than $110 billion in 2024, with spending on AI systems set to accelerate over the next several years as organisations deploy the technology as part of their digital transformation efforts and to remain competitive in the digital economy. "Companies will adopt AI -- not just because they can, but because they must," says Ritu Jyoti, program vice president, Artificial Intelligence at IDC. "AI is the technology that will help businesses to be agile, innovate, and scale. The companies that become'AI powered' will have the ability to synthesise information (using AI to convert data into information and then into knowledge), the capacity to learn (using AI to understand relationships between knowledge and apply the learning to business problems), and the capability to deliver insights at scale (using AI to support decisions and automation)," he explains. Jyoti says two of the leading drivers for AI adoption are delivering a better customer experience and helping employees to get better at their jobs.

FRAMINGHAM, Mass., August 25, 2020 – Global spending on artificial intelligence (AI) is forecast to double over the next four years, growing from $50.1 billion in 2020 to more than $110 billion in 2024. According to the International Data Corporation (IDC) Worldwide Artificial Intelligence Spending Guide, spending on AI systems will accelerate over the next several years as organizations deploy artificial intelligence as part of their digital transformation efforts and to remain competitive in the digital economy. The compound annual growth rate (CAGR) for the 2019-2024 period will be 20.1%. "Companies will adopt AI -- not just because they can, but because they must," said Ritu Jyoti, program vice president, Artificial Intelligence at IDC. "AI is the technology that will help businesses to be agile, innovate, and scale. The companies that become'AI powered' will have the ability to synthesize information (using AI to convert data into information and then into knowledge), the capacity to learn (using AI to understand relationships between knowledge and apply the learning to business problems), and the capability to deliver insights at scale (using AI to support decisions and automation)."

DesignCon, the nation's largest event for chip, board, and systems design engineers, today announced new areas of focus for the 2020 edition highlighting advances in the fields of 5G, artificial intelligence (AI), automotive, and IoT, producing the most in-demand electronics emerging today. Topics will be examined through a 14-track conference schedule spanning technical sessions, boot camps, tutorials, and more to fit the needs of the hardware design engineering community. The DesignCon conference and expo reflects the design engineering industry's growing need for breakthroughs in the development of 5G connectivity, AI, automotive electronics, and IoT. With worldwide spending on AI systems forecasted to reach $79.2 billion in 2022, sales of automotive electronic systems at its highest growth rate on-record, expected worldwide spending on IoT projected to surpass $1 trillion in 2022, and the 5G infrastructure market estimated to reach $4.2 billion in value by 2020, DesignCon is the ideal forum for attendees across these interlaced industries to exchange ideas and develop solutions to meet consumer demand. "The market and value for connected, especially fast connected products, is on the rise," said Suzanne Deffree, brand director, Intelligent Systems & Design, Informa Markets.

Global spending on artificial intelligence (AI) systems is expected to maintain its strong growth trajectory as businesses continue to invest in projects that use the capabilities of AI software and platforms. Spending on AI systems is expected to reach USD 97.9 billion in 2023, more than two and one half times the USD 37.5 billion that will be spent in 2019, according to the recently updated International Data Corporation (IDC) Worldwide Artificial Intelligence Systems Spending Guide. The compound annual growth rate (CAGR) for the 2018-2023 forecast period will be 28.4 percent.

Worldwide spending on digital transformation (DX) technologies (hardware, software, and services) is expected to be nearly $1.3 trillion in 2018, an increase of 16.8% over the $1.1 trillion spent in 2017. A new update to the Worldwide Semiannual Digital Transformation Spending Guide from International Data Corporation (IDC) forecasts DX spending to maintain a strong pace of growth over the 2016-2021 forecast period with a compound annual growth rate (CAGR) of 17.9%. In 2021, DX spending will nearly double to more than $2.1 trillion. The majority of spending on digital transformation in 2018 ($662 billion) will go toward technologies that support new or expanded operating models as organizations seek to make their operations more effective and responsive by leveraging digitally-connected products/services, assets, people, and trading partners. The second largest DX investment area in 2018 ($326 billion) will be technologies supporting omni-experience innovations that transform how customers, partners, employees, and things communicate with each other and the products and services created to meet unique and individualized demand.

Retail and banking are driving demand for cognitive and artificial intelligence according to new figures from IDC, which also show Asia Pacific is expected to be the second largest spender on the technologies by 2021. IDC says many industries are'aggressively' investing in cognitive and AI solutions, with the technologies proliferating across all industries, resulting in significant growth opportunities. The analyst firm's Worldwide Semiannual Cognitive Artifical Intelligence Systems Spending Guide shows worldwide spending is forecast to hit US$12.0 billion this year – up 59.1% on 2016 spend. Come 2021, IDC is forecasting spend to reach US$57.6 billion. Retail and banking will account for $1.74 billion and $1.72 billion of 2017's spend, with discrete manufacturing, healthcare and process manufacturing also expected to crack the $1 billion spend this year.