Press release
Delving into Artificial Intelligence Systems Spending Market: Forecasting Market Outlook, Emerging Trends, and Major Players' Strategies in AI Investments
Artificial Intelligence Systems Spending Market Report
The artificial intelligence systems spending market size is expected to see exponential growth in the next few years. It will grow to $827.98 billion in 2028 at a compound annual growth rate (CAGR) of 47.7%. The growth in the forecast period can be attributed to exponential growth in data, autonomous systems and robotics, quantum computing integration, global digital transformation initiatives, and increased adoption of ai in healthcare. Major trends in the forecast period include AI in edge computing, AI for cybersecurity, quantum computing and ai integration, AI-driven personalization, and strategic collaborations.
Market Overview -
Artificial intelligence systems spending refers to the financial investments made by organizations or individuals in the development, implementation, and maintenance of artificial intelligence (AI) systems. This expenditure encompasses a wide range of activities and resources dedicated to leveraging AI to address business challenges, enhance productivity, improve decision-making, drive innovation, and gain competitive advantages.
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Growing Demand For Automation Fuels Expansion Of Artificial Intelligence Systems Spending Market
The growing demand for automation is expected to propel the growth of the artificial intelligence systems spending market going forward. Automation refers to the process of using technology and systems to perform tasks or processes with minimal human intervention. Artificial intelligence system spending is used for automation to automate repetitive, rule-based tasks, typically in back-office operations such as data entry, customer service, and financial processing. For instance, in 2022, according to reports published by Routine Automation., a Poland-based operator of computer systems design, marketers adopting automation for content management increased from 22% in 2021 to 29% in 2022, with 48% using automation. Therefore, the growing demand for automation is driving the growth of the artificial intelligence systems spending market.
Competitive Landscape -
Major companies operating in the artificial intelligence systems spending market report are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Facebook Inc., Dell Technologies Inc., Tencent Holdings Limited, Amazon Web Services, Siemens AG, General Electric (GE), Intel Corporation, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Qualcomm Incorporated, SAP SE, Hewlett Packard Enterprise (HPE), NVIDIA Corporation, Salesforce.com, Baidu Inc., Adobe Inc., Splunk Inc., PTC Inc., Palantir Technologies Inc., Informatica LLC, Cloudera Inc.
Pioneering AI Integration For Confident Decision-Making In Business Transformation
Major companies operating in the artificial intelligence systems spending market are focusing on AI advancements, such as EY.ai, an advanced AI platform, to help drive business transformation through confident decision-making. EY.ai is a unifying platform that integrates human capabilities with artificial intelligence (AI) to drive business transformation through confident decision-making. For instance, in September 2023, Ernst & Young Global Limited, a UK-based professional services company, launched EY.ai, a unifying platform that brings together human capabilities and artificial intelligence to provide a unifying platform that integrates human expertise with artificial intelligence (AI) to facilitate confident decision-making and drive business transformation. This platform leverages EY's leading-edge technology and AI capabilities across various domains, including strategy, transactions, transformation, risk, assurance, and tax. The EY.ai platform supports the embedding of AI into proprietary EY technologies and helps secure a series of leading-edge alliances with some of the world's most innovative organizations.
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Key Segments -
The artificial intelligence systems spending market covered in this report is segmented -
1) By Component: Software, Hardware, Service
2) By Technology: Natural Language Processing, Deep Learning, Artificial General Intelligence, Machine Vision, Artificial Super Intelligence, Machine Learning
3) By Application: Automated Threat Intelligence And Prevention Systems, Fraud Analysis And Investigation, Automated Customer Service, Other Applications
4) By Industry Type: Banking, Financial Services, And Insurance, Discrete And Process Manufacturing, Healthcare, Retail, Wholesale, Professional And Consumer, Service, Transportation, Media And Entertainment, Others Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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