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Businesses and Artificial Intelligence (AI): Cognitive/AI Capabilities to Become Differentiating Factor for Companies
“Third platform” technologies like cloud, big data, mobile and social networking are currently account for 75 percent of IT spending, and that is likely to continue through 2019, predicts IDC. But all of these technologies are expected to be enhanced by even newer technologies beginning to come into use now, like cognitive and artificial intelligence (AI) systems, better security, and augmented and virtual reality.
IDC says that spending on Cognitive/AI systems will grow from nearly $8.0 billion in 2016 to more than $47 billion in 2020, a growth rate of 55 percent annually.
David Schubmehl, research director at IDC, said that “software developers and end user organizations have already begun the process of embedding and deploying cognitive/artificial intelligence into almost every kind of enterprise application or process. Recent announcements by several large technology vendors and the booming venture capital market for AI startups illustrate the need for organizations to be planning and undertaking strategies that incorporate these wide-ranging technologies.”
Schubmehl concludes that “identifying, understanding, and acting on the use cases, technologies and growth opportunities for cognitive/AI systems will be a differentiating factor for most enterprises and the digital disruption caused by these technologies will be significant.”
