Companies are set to boost their spending on cognitive and artificial intelligence (AI) systems by almost 60% to $12.5 billion during 2017, according to a new global investment forecast released by IDC.
"Intelligent applications based on cognitive computing, artificial intelligence, and deep learning are the next wave of technology transforming how consumers and enterprises work, learn, and play," said David Schubmehl, IDC's research director for Cognitive Systems and Content Analytics. "Cognitive/AI systems are quickly becoming a key part of IT infrastructure and all enterprises need to understand and plan for the adoption and use of these technologies in their organizations," he added in a prepared statement.
According to IDC, the use cases driving the greatest investment, and which will account for more than half of all cognitive/AI spending during 2017, are:
Quality Management Investigation and Recommendation Systems
Diagnosis and Treatment Systems
Automated Customer Service Agents
Automated Threat Intelligence and Prevention Systems, and
Fraud Analysis and Investigation.
And the research firm expects an ongoing rise in cognitive/AI investments during the next few years, with IDC expecting the sector to experience a compound annual growth rate (CAGR) of 54.4% for the next three years, with investments set to exceed $46 billion in 2020.
That's probably very good news for IBM, which is regarded by many as the market leader in terms of AI system expertise and trust.