Why companies are spending more on A.I.

Brandon McGee

3 years ago

“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”