Mon. Sep 13th, 2021
Business-Artificial-Intelligence

Analyst firm IDC has predicted that by the year 2025 more money will be spent on artificial intelligence software and services than on infrastructure-as-a-service and platforms-as-a-service.

The firm on Wednesday published details of its Worldwide Semi-annual Artificial Intelligence Tracker, which predicted global spending of $341.8 billion this year – representing 15.2 per cent year-over-year growth.

Growth will accelerate to 18.8 per cent in 2022, leading IDC to predict the market is on track to pass $500 billion annual spend by 2024.

AI software currently dominates, accounting for 88 per cent of AI expenditure.

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