Spending on AI forecast to reach $432.8 bn in 2022: IDC

Spending on the artificial intelligence (AI) market is forecast to grow 19.6 percent in 2022 to $432.8 billion and break the $500 billion mark in 2023, according to IDC.
IDC forecast on top AI markets in the world“Advancements in language, voice and vision technologies, and multi-modal AI solutions are revolutionizing human efficiencies,” said Ritu Jyoti, group vice president, Worldwide Artificial Intelligence (AI) and Automation Research at IDC.

Share of spending on AI Software will decline slightly in 2022 as spending for AI Hardware and Services grows more quickly. This trend will continue into 2023.