AI business value to reach $1.2 trillion in 2018

Business value derived from artificial intelligence (AI) is projected to increase 70 percent to $1.2 trillion in 2018 from 2017 and $3.9 trillion in 2022, according to Gartner.

The Gartner AI-derived business value forecast assesses the total business value of AI across all the enterprise vertical sectors covered by Gartner. There are three different sources of AI business value: customer experience, new revenue, and cost reduction.
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“AI promises to be the most disruptive class of technologies during the next 10 years due to advances in computational power, volume, velocity and variety of data, as well as advances in deep neural networks (DNNs),” said John-David Lovelock, research vice president at Gartner.

AI business value growth shows the S-shaped curve pattern associated with an emerging technology. In 2018, the growth rate is estimated to be 70 percent, but it will slow down through 2022. After 2020, the curve will flatten, resulting in low growth through the next few years.

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