The global artificial intelligence (AI) software market is expected to grow as organisations advance their AI maturity, according to a report by research and advisory firm Gartner.
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Worldwide AI software revenue is projected to expand 21.3% to $62.5 billion in 2022, compared with the previous year.
“Demand for AI technologies and associated market growth is closely tied to organisational AI maturity levels,” the research company said. “Enterprises continue to demonstrate a strong interest in AI.”
According to a Gartner survey, 48% of Chief Information Officers said they have already deployed or plan to deploy AI and machine learning technologies within the next 12 months.
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Yet, the reality of AI deployment is much more limited, the research firm noted, adding it found that organisations commonly experiment with AI but struggle to make the technology a part of their standard operations.
Advances in AI maturity will increase software revenue due to increased spending, particularly across the data and analytics-related technology category.
The five major use case categories for next year’s AI software spending, include knowledge management, virtual assistants, autonomous vehicles, digital workplace and crowdsourced data.
“Successful AI business outcomes will depend on the careful selection of use cases,” Alys Woodward, Senior Research Director at Gartner, said. “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.”
