- “The market for advanced technologies including AI and ML will continue its exponential growth, with market research firm IDC projecting that spending on AI systems will reach $98 billion in 2023, more than two and one-half times the $37.5 billion that was projected to be spent in 2019. Additionally, IDC foresees that retail and banking will drive much of this spending, as the industries invested more than $5 billion in 2019.
- Through real-time monitoring, companies will be given visibility into the “black box” to see exactly how their AI and ML models operate. In other words, explainability will enable data scientists and engineers to know what to look for (a.k.a. transparency) so they can make the right decisions (a.k.a. insight) to improve their models and reduce potential risks (a.k.a. building trust).”