AI software market set to reach new heights next year
Summary
The analysts firm estimates total AI software revenue for 2022 could reach $62.5 billion, rising by more than a fifth (21.3%) compared to this year. Enterprises will most likely spend the majority of this money on knowledge management, virtual assistants, autonomous vehicles, digital workplaces and crowdsourced data. Many firms experiment with AI, but when it comes to making it part of standard operations - things get tricky. “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.” The AI software market comprises of applications with artificial intelligence, such as computer vision tools, chatbots, or various data analytics tools. AI is expected to eliminate numerous repetitive tasks from people’s daily routines, freeing up precious time for higher-value work.