Monday, 6th December 2021
Logo

European spending on Artificial Intelligence to reach $22 billion

The new Worldwide Artificial Intelligence Spending Guide from International Data Corporation (IDC) forecasts that European spending on AI systems will jump from $17.3 billion in 2021 to more than $50 billion in 2025. The compound annual growth rate (CAGR) for 2021–2025 will be 26.7%.

  • 13 Oct 2021 Posted in

Banking and manufacturing will spend the most on AI solutions over the five-year forecast period, with healthcare spending growing the fastest in the long term. Retail AI spending will largely focus on automating customer service and implementing sales process recommendation and automation engines. Manufacturing will allocate much of its AI investment to quality management and investigation solutions and systems that help manufacturers carry out predictive maintenance.

"European spending on AI will reach $22 billion in 2022, and the market will grow significantly, meaning that European companies will consider AI as a priority tech that will bring significant impacts across different industries," said Andrea Minonne, senior research analyst at IDC UK. "European companies are increasing investments in intelligent solutions as they recognized the value of implementing intelligent and automated approaches during last year's COVID-19 pandemic in terms of business efficiency and digital resilience."


Army uses Immersive Labs to optimize digital professionals’ cyber security abilities as part of its...
As we move into 2022, the trends we see emerging will increasingly be geared towards delivering impr...
Amido research shows 88% of retail tech decision makers (TDMs) see the potential of the likes of AI,...
Precise, AI-powered insights enable DevOps and SRE teams to proactively optimize cloud-native applic...
EkkoSense has launched Cooling Advisor – a powerful machine learning and AI-powered advisory softwar...
Arming manufacturers, banks, healthcare organisations and retailers for the future of Intelligent Bu...
BT has developed an epidemiology-based cybersecurity prototype, “Inflame”, which uses deep reinforce...
Partnership to be featured at COP26, highlighting how data-driven solutions and predictive analytics...