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Spain, Germany and the United Kingdom, countries with the highest growth in Artificial Intelligence in Europe

European investment in Artificial Intelligence systems will reach 25.4 billion dollars this year, a figure that represents a rise of 27.8% compared to 2021. And everything indicates that it will continue to rise at a good pace, since according to IDC, the annual growth rate from 2021 to 2026 in Europe is expected to be 29.6%. Between the Countries where the Artificial Intelligence market will grow fastest in Europe between 2021 and 2022 are Spain, Germany and UK.

The Artificial Intelligence sector is more resilient to events at the macroeconomic level than other technologies. Artificial Intelligence technologies and software are helping companies to undertake developments efficiently through automation, with the aim of achieving a safer environment in terms of operations and functioning.

Software-related technologies are what are driving spending on Artificial Intelligence in Europe. Of these, Artificial Intelligence applications are the ones that are going to take the largest market share in 2023. Especially those that are more focused on long-term innovation and on the use cases of creating products and services. Artificial Intelligence platforms will gain market share from 2023.

This category, in fact, is the fastest growing, encompassing lifecycle software, AI software services, and intelligent knowledge discovery software. Banking, manufacturing and retail are the sectors that will invest the most in Artificial Intelligence solutions between 2021 and 2026. Between the three sectors they will invest almost half of the total planned investment.

As for the sectors that will experience the fastest growth in these five years in terms of AI adoption in Europe, they are banking, manufacturing and retail. Banks will invest in fraud analysis and investigation, in addition to increased intelligence and threat prevention systems, due to the ever-increasing cybersecurity risks. Manufacturing will focus on maintenance, investing in automated preventative maintenance, and quality management research and recommendation systems. Retail will focus on the customer and automation, investing in augmented customer service agents, as well as recommendation and augmentation of the sales process. Also in innovation and business automation.

Carla La Croce, Research Manager at IDC Italynotes that “Artificial Intelligence is a strategic investment for European companies focused on productivity and automation solutions, and looking for new ways to deliver business value. In addition, the European Union is playing a key role in boosting research and industrial capacity related to Artificial Intelligence, with the Commission and member states working together on policies and investments.«.

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