Artificial Intelligence

• [New] Much like the way DevOps has given structure to the way applications are deployed, ModelOps will reach a tipping point in 2021 as a way for mainstream businesses to better develop and operationalize their AI models.
• [New] 71% of participants plan to increase their investment in 2021, and the IDC forecasts that AI spending will grow to $97.9 billion by 2023, 2.5 times that of 2019.
• [New] The top four use cases for AI - automated customer service agents, sales process recommendation and automation, automated threat intelligence and prevention, and IT automation - will represent nearly a third of all AI spending in 2021.
• [New] The development of artificial intelligence, for instance, will play a pivotal role in the overall growth and capabilities of RPA over the coming years.
• [New] Bahrain-based Square Funds uses AI to match investors with the most suitable investment opportunity available to them in the MENA region.
• [New] 2021 will be the year of mass adoption for AI, as businesses of all levels have experienced a paradigm shift into a digital-first model.
• [New] ARtillery Intelligence has released a new report that projects mobile AR revenue to grow from $3.9 billion in 2019 to $21.02 billion in 2024.
• [New] In 2021, the interplay between AI and cybersecurity will be increasingly apparent-security vendors are spending more time and money than ever on specialists in artificial intelligence and data science to mine their data and enhance their products using AI and machine learning.
• [New] Gartner predicts by 2025, 30% of all organizations will rely on AI - and ML-based network management and control systems to augment network operations and troubleshooting tasks, up from less than 5% in 2021.
• [New] By leveraging AI, integrated hyper-local personalization is going to be the new focus area for most retailers in India in the coming years.
• Digital transformation - Shaping the future of European healthcare, Europe is expected to be short of 4.1 million healthcare workers by 2030.
• This decade will see the world expect Alternative Data and AI to be harnessed for good, like Financial Inclusion.
• Total spending on AI applications will go up to $14.1 billion, while total spending on AI services will rise to $14.5 billion in 2021.
• A bank can anticipate possible savings of around 20 and 25% across IT operations (namely infrastructure, maintenance and development costs) from AI applications, with a forecasted aggregate cost savings of around $447 billion by 2023.
• The coming year will be a big year for AI growth, and that many AI applications will take off, truly delivering insights, efficiencies, and cost savings for the digital marketplace.
• Companies around the world are expected to spend $97.9 billion on artificial intelligence by the end of 2023, but many AI initiatives fail or do not turn a profit.
• The world will need a principled AI education for all, since AI will be the key technology of the next decades, if not of the XXI century.
• Global spending on AI will double in the next four years, reaching $110 billion in 2024, as companies see an opportunity to boost innovation, improve customer service and automate routine tasks so their employees can focus on more strategic work.
• Global spending on digital transformation technologies and services such as artificial intelligence and machine learning is forecast to grow an annual 10.4% to $1.3 trillion in 2020.
• 43 the percentage of executives worldwide that believe AI will transform their organization in the next three years [Deloitte].
• A nearly 48% growth for AI tools in education over the next three years, and a recent McKinsey & Company report suggested that up to 40% of teacher tasks like grading and lesson planning could soon be outsourced to technology.
• Instead of spending time and money building machine learning systems, in 2021, organizations will take a big step forward in terms of using ML systems.

Last updated: 17 January 2021