Despite the COVID-19 crisis, global artificial intelligence (AI) spending jumped 33 percent year-over-year, and is forecast to surge by 120 percent, hitting $100 billion by 2024, according to data presented by BuyShares.co.nz.
Automated customer service, sales process automation, automated threat intelligence and prevention, and IT automation were the leading use cases for AI in 2020, accounting for nearly a third of total AI spending this year. However, the data show automated human resources, IT automation, and pharmaceutical research and discovery are the fastest-growing use cases.
The retail industry and the banking sector are expected to spend the most on AI solutions in 2020. Retail companies primarily focused their AI investments on improving customer experience via chatbots and recommendation engines. Banks are expected to keep inves
