{"id":11092,"date":"2021-10-03T21:14:46","date_gmt":"2021-10-03T15:44:46","guid":{"rendered":"https:\/\/www.digitalcreed.in\/?p=11092"},"modified":"2021-10-03T21:15:36","modified_gmt":"2021-10-03T15:45:36","slug":"artificial-intelligence-technology","status":"publish","type":"post","link":"https:\/\/www.digitalcreed.in\/artificial-intelligence-technology\/","title":{"rendered":"33% of Technology Providers Plan to Invest $1 Million or More in AI Within Two Years: Gartner"},"content":{"rendered":"
STAMFORD, Conn., September 29, 2021<\/strong> \u2014 One-third of technology and service provider organizations with artificial intelligence technology plans said they would invest $1 million or more into these technologies in the next two years, according to a new survey* from Gartner, Inc. The vast majority of survey respondents (87%) with AI technologies as a major investment area believe industrywide funding for AI will increase at a moderate to fast pace through 2022.<\/p>\n \u201cRapidly evolving, diverse artificial intelligence technologies will impact every industry,\u201d said Errol Rasit<\/a>, managing vice president at Gartner. \u201cTechnology organizations are increasing investments<\/a> in AI as they recognize its potential to not only assess critical data and improve business efficiency, but also to create new products and services, expand their customer base and generate new revenue. These are serious investments that will help to dispel AI hype<\/a>.\u201d<\/p>\n Compared with other emerging technology areas such as cloud<\/a> and IoT, artificial intelligence technologies<\/a> had the second-highest reported mean funding allocation. Respondents whose organizations invested in AI reported their highest planned investment in computer vision, at an average of $679,000 over two years (see Figure 1).<\/p>\n Figure 1: Level of Funding Allocated to AI Emerging Technologies<\/strong><\/p>\n <\/p>\n Source: Gartner (September 2021)<\/p>\n \u201cVery few respondents reported funding amounts of less than $250,000 for AI technologies, indicating that AI development is cost-intensive compared to other technology innovations. This is not an easy segment to enter due to the complexity of building and training AI models,\u201d said Rasit.<\/p>\nBarriers to Artificial Intelligence Technologies Adoption and Integration Remain<\/strong><\/h2>\n