Artificial intelligence

• [New] Digital transformation - Shaping the future of European healthcare, Europe is expected to be short of 4.1 million healthcare workers by 2030.
• [New] This decade will see the world expect Alternative Data and AI to be harnessed for good, like Financial Inclusion.
• [New] 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.
• [New] 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.
• [New] 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.
• [New] 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.
• Spending on AI technologies will grow to $97.9 billion in 2023 - more than two and a half times the spending level of 2019.
• A quarter of IT professionals have upped levels of investment in artificial intelligence in light of Covid-19, with 75% planning to commence new AI projects in the first two quarters of 2021.
• Of more than 600 decision makers globally, 2/3 of organizations expect their spending on analytics and AI technology to either increase or at a minimum to remain stable in 2021 as compared to their actual spending in 2020.
• Global spending on intelligent solutions in the fashion industry is expected to reach $7.3 billion by 2022 - indicating that fashion brands have recognised that AI can be a powerful ally when it comes to designing and selling apparel that fits customers' needs and requirements.
• Chatbots that use artificial intelligence to address customer needs are already in widespread use, and are expected to become even more common over the next few years.
• AI facilitator platforms will reach $8 billion by 2025 and that the maker platforms will reach $13 billion for a total of $21 billion.
• FO packaging is expected to gain wider adoption as 5G, AI, and autonomous driving take flight in the coming years - and revenue stemming from FO packaging is expected to reach $2 B - $2.5 B by 2025.
• Implementation of healthcare AI is expected to grow at an annual growth rate of 41.4% from 2020 to reach $51.3 billion by 2027, while edge cloud computing is expected to grow by 34.1% between now and 2025.
• Within the next three years, 65% of enterprise organizations that deployed RPA will introduce integrative capabilities like artificial intelligence, machine learning and natural language processing algorithms.
• In the coming year, IBM/Red Hat, Hewlett Packard Enterprise, and Microsoft will invest deeply in the strategic 5G / edge / AI platforms that they launched in 2020.

Last updated: 10 January 2021