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Europe Spends $5.2 billion in Artificial Intelligence (AI) in 2019

Dubai – Masaader News

Spending and Investment in Artificial Intelligence systems will reach $5.2 billion across Europe in 2019, an increase of 49% over 2018, according to a new report by the International Data Corporation (IDC).

Artifial Intelligence  (AI) adoption is growing at an unprecedented rate across European markets, with 34% of enterprises in Europe now leaving the proof-of-concept (POC) stage and moving onto real-world implementation of these radical automation technologies, according to the IDC European Vertical Markets Survey 2018-2019. In fact, IDC’s estimates show that European spending in AI will reach $13.5 billion by 2022.

The report goes on to reveal further insights into the AI market in Europe, including that by 2022, healthcare will be the fastest growing industry for AI investments. This cross-industry is, IDC claim, linked to a number of extensive investment programmes from European governments. The European Commission’s ‘Horizon 2020’ innovation programme will see €1.5 billion of investment in AI research centers across Europe through to 2020. AI adoption across Europe will also be spurred by the UK’s £1 billion AI Sector Deal, as well as the French government’s plans for €1.5 billion of public funding in AI by 2022.

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