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Spending on AI to reach $46 billion in 2020

Worldwide spending on artificial intelligence and cognitive systems will rise to $46 billion in 2020, up 768% from 2016, according to a new analysis by International Data Corporation.

Data: IDS Research; Chart: Lazaro Gamio / Axios

Why it matters: These data show that artificial intelligence is not just a curiosity or a thought experiment, but technology that is spreading fast to businesses that average Americans interact with every day. IDC says business spending in this category in 2017 will be primarily on diagnosis and treatment systems; automated customer service; and fraud analysis and investigation. The financial services, manufacturing, retail, and healthcare industries are expected to most aggressively deploy AI over the next few years.

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