g-f(2)65 THE BIG PICTURE OF THE DIGITAL AGE: IDC, Worldwide Spending on Artificial Intelligence Is Expected to Double in Four Years, Reaching $110 Billion in 2024

VIRAL KNOWLEDGE: The “genioux facts” knowledge news

Extra-condensed knowledge

• Global spending on artificial intelligence (AI) is forecast to double over the next four years, growing from $50.1 billion in 2020 to more than $110 billion in 2024. 
• According to the International Data Corporation (IDC) Worldwide Artificial Intelligence Spending Guide, spending on AI systems will accelerate over the next several years as organizations deploy artificial intelligence as part of their digital transformation efforts and to remain competitive in the digital economy. 
• The compound annual growth rate (CAGR) for the 2019-2024 period will be 20.1%.

Genioux knowledge fact condensed as an image.

Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from IDC]

Type of essential knowledge of this “genioux fact”: Essential Deduced and Extracted Knowledge (EDEK).

Type of validity of the "genioux fact". 

• Inherited from sources + Supported by the knowledge of one or more experts + Based on a research.

Authors of the genioux fact

Fernando Machuca

References

Worldwide Spending on Artificial Intelligence Is Expected to Double in Four Years, Reaching $110 Billion in 2024, According to New IDC Spending Guide, 25 Aug 2020, IDC.

ABOUT THE AUTHORS

The Worldwide Artificial Intelligence Spending Guide examines the artificial intelligence systems opportunity from a use case, technology, industry, and geography perspective. This comprehensive database delivered via IDC's Customer Insights query tool allows the user to easily extract meaningful information about the artificial intelligence technology market by viewing data trends and relationships and making data comparisons.