See full analysis Learn more AI [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 AI Council's report highlights the role that algorithms have to play in healthcare, but also defense and climate change: it is estimated that the various applications of AI alone could save up to 4% of greenhouse gas emissions by 2030. [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] 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. [New] 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. [New] AFRL is running a separate project, dubbed R2-D2, to develop an autonomous drone using AI-driven systems that is expected to square off against a human pilot in a fighter jet by 2024. 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. 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. AI will theoretically increase labor productivity in Germany and Austria by approximately 30% in the next 15 years. The Best Tech Companies For Remote Jobs In 2021 According To Glassdoor, 2 Megatrends Dominate the Gartner Hype Cycle for Artificial Intelligence, 2020. Using AI for environmental applications could contribute up to 5.2 trillion US dollars to the global economy in 2030, a 4.4% increase relative to business as usual. The implementation of artificial intelligence in the wealth sector provides significant savings that are expected to reach $447 billion by 2023. 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 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]. By leveraging AI, integrated hyper-local personalization is going to be the new focus area for most retailers in India in the coming years. 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. Last updated: 13 January 2021 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No