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