Business Standard Global AI software market to hit $62 billion in 2022, says Gartner
Global artificial intelligence (AI) software revenue is forecast to reach $62.5 billion in 2022, an increase of 21.3 per cent from 2021, according to Gartner. The top five use cases for AI software spending in 2022 will be knowledge management, virtual assistants, autonomous vehicles, digital workplace and crowdsourced data. "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.
The AI software market encompasses applications with AI embedded in them, such as computer vision software, as well as software that is used to build AI systems. "Successful AI business outcomes will depend on the careful selection of use cases," said Woodward. "Use cases that deliver significant business value, yet can be scaled to reduce risk, are critical to demonstrate the impact of AI investment to business stakeholders," he added. Demand for AI technologies and associated market growth is closely tied to organisational AI maturity levels.
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