Why companies are spending more on A.I.

  • “Just over half of businesses said they would spend $500,000 to $5 million on A.I. initiatives this year, up from 34% in 2020, according to a survey released on Tuesday by data labelling firm Appen.
  • The No. 1 reason companies invest in A.I. is to ‘support internal IT operations.’ The second is to ‘improve understanding of corporate data,’ followed by ‘improve productivity and efficiency of internal business processes.’
  • 87% of companies plan to update their machine learning models…at least each quarter in 2021
  • 57% of businesses said they plan to update their models even more often—monthly”


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