0
IT

European spending on AI to reach close to USD 21 bln by 2023

Tuesday 3 September 2019 | 12:04 CET | News
European spend on artificial intelligence (AI) is estimated to reach more than USD 7 billion in 2019 and to almost triple over the next four years, growing at a 32 percent CAGR, to reach over USD 21 billion in 2023, according to data from IDC. Banking, retail, and discrete manufacturing will be the industries with the highest spend in AI systems by 2023, absorbing 39 percent of spend. Healthcare remains an attractive market for AI and, although many hospitals are piloting projects and have not started full implementation, increasing investments in AI-enabled diagnosis and treatment systems

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: IT
Countries: Europe
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Swiss Re partners Decentriq, Intel to secure data

Published 14 Oct 2021 09:31 CET | Switzerland
Reinsurance and insurance provider Swiss Re has partnered with Decentriq and Intel to improve data protection during its ...

German ICT market set to rise 4% to EUR 151 bln this year - IDC

Published 03 Sep 2021 09:58 CET | Germany
The market for information and communication technology in Germany will grow by 4.4 percent this year to EUR 151 billion, driven ...

Over four in ten European businesses use AI

Published 29 Jul 2020 11:50 CET | Europe
Over four in ten (42%) of European businesses have adopted at least one AI technology, according to the European Commission's ...

Clear raises USD 13 mln in Series A funding from Deutsche Telekom, Telefonica investment funds

Published 06 Feb 2020 11:12 CET | Germany
Clear, a start-up that uses blockchain technology to offer platform for real-time settlement and dispute resolutions, has raised ...

EU to invest EUR 100 mln in AI and blockchain startups in 2020

Published 22 Nov 2019 15:03 CET | Europe
The European Commission has announced the launch of a new investment scheme for artificial intelligence (AI) and ...

MEA artificial intelligence systems spending to reach USD 374 mln in 2020

Published 30 Sep 2019 11:25 CET | Africa
Spending on artificial intelligence (AI) in the Middle East and Africa (MEA) is expected to maintain its strong growth trajectory ...

EMEA traditional PC sales to grow 0.2% to 71.7 million in 2019 - IDC

Published 06 Sep 2019 11:41 CET | World
EMEA shipments of traditional PCs (desktops, notebooks and workstations) reach 71.7 million units in 2019, up 0.2 percent ...

EU grants EUR 20 mln to build AI open platform under AI4EU project

Published 10 Jan 2019 10:43 CET | Europe
A new EU project will officially get under way on 10 January with the aim to build a collaborative platform for artificial ...

EU proposes ethical guidelines for AI

Published 18 Dec 2018 14:21 CET | Europe
The European Union has presented draft ethics guidelines for the use of artificial intelligence. The guidelines developed by a ...