• October 4, 2022
AI Sales to Exceed $500 Billion Globally by 2023

Worldwide revenues from artificial intelligence (AI) software, hardware, and services, including those that enable intelligent automation, are expected to grow nearly 20 percent in 2022 to almost $433 billion, according to IDC’s Worldwide Semiannual Artificial Intelligence Tracker ($). The research firm predicts the market will break the $500 billion mark in 2023.

“AI has emerged as the next major wave of innovation. AI solutions are currently focused on business process problems and range from human augmentation to process improvement to planning and forecasting, empowering superior decisioning and outcomes. Advancements in language, voice and vision technologies, and multi-modal AI solutions are revolutionizing human efficiencies,” said Ritu Jyoti, group vice president for Worldwide Artificial Intelligence (AI) and Automation Research at IDC. “Overall, AI plus human ingenuity is the differentiator for enterprises to scale and thrive in the era of compressed digital transformation.”

AI has become an integral part of the process automation story as technology evolves. While some experts believe a disconnect remains between the practical application of artificial intelligence in automation, the increases predicted for AI spend indicate adoption will, at some point, follow.