Artificial Intelligence Solutions Spending to Reach Half Trillion Dollars By 2024 According to Market Forecasts

Artificial intelligence is one of the hottest topics out there right now because of the fact that this is the sort of thing that could potentially end up taking us to a whole new level in terms of technological advancement and the like. The IDC, a company that specializes in making reports based on market intelligence, recently releases an annual report that forecasts an approximate $342 billion being spent on this sector in 2021 alone, something that indicates that most tech companies are really ramping up their investments into this sector.

AI also doesn’t seem to be showing any sign of slowing down, with the IDC report revealing that an increase of about 18.8% is expected next year. At this rate, it can be reasonably expected that the total amount of money that corporations would be spending on their various AI related projects would cross half a trillion dollars by 2024, and the increase in investment is actually accelerating if market intelligence is anything to go by.

This survey involved around 700 organizations from over two dozen countries spread across the world, which means that this is not just a myopic report that is only taking American companies and interests into account. AI is definitely going to become a key aspect of how we interact with in the world, and it is being used quite frequently to provide solutions to businesses as well.

Hence, it is safe to say that this sector is a good one to invest in as well as acquire specialized skills for so that you can start to work in it. The sheer quantity of investment here means that it will only accelerate in the future and we could be seeing the rest of the 21st Century as the Age of AI which will make the world quite different from how it was previously.

Photo: Getty Images

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