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”


Gartner: AI and data science to drive investment decisions rather than “gut feel” by mid-decade

“Instead, AI and data analytics will inform more than three-quarters of “venture capital and early-stage investor executive reviews,” according to a Gartner report published earlier this month.

“The traditional pitch experience will significantly shift by 2025, and tech CEOs will need to face investors with AI-enabled models and simulations as traditional pitch decks and financials will be insufficient,” Stakenas said.”