AI software market to grow at 21.3% to $62.5 bn: Gartner

The size of the artificial intelligence (AI) software market is forecast to increase at 21.3 percent to $62.5 billion in 2022, according to a new forecast from Gartner.
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“The AI software market is picking up speed, but its long-term trajectory will depend on enterprises advancing their AI maturity,” said Alys Woodward, senior research director at Gartner.

Gartner’s AI software forecast is based on use cases, measuring the amount of potential business value, timing of business value and risk to project how use cases will grow.

Gartner forecasts that the top five use case categories for AI software spending in 2022 will be knowledge management, virtual assistants, autonomous vehicles, digital workplace and crowdsourced data.

Demand for AI technologies and associated market growth is closely tied to organizational AI maturity levels. Enterprises continue to demonstrate a strong interest in AI, with 48 percent of CIOs in the 2022 Gartner CIO and Technology Executive Survey responding that they have already deployed or plan to deploy AI and machine learning technologies within the next 12 months.

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