Pandemic COVID-19 will lead to an increase in the cost of artificial intelligence

Prior to the start of the COVID-19 pandemic, IDC experts predicted that in Europe the cost of artificial intelligence (AI) in 2020 would amount to about $ 10 billion, and the average annual growth rate until 2023 would be 33%. However, the pandemic forced analysts to revise the forecast. In their view, artificial intelligence solutions deployed in the cloud will be more widespread than expected.

“After the outbreak of COVID-19, many industries, such as transportation, personal and consumer services, will be forced to revise their technology investments downward,” said Andrea Minonne, senior research analyst at IDC Customer Insights & Analysis. “On the other hand, AI is a technology that can play an important role in helping enterprises and society cope with large-scale problems caused by quarantine restrictions and solve them. In all sectors, the public sector will experience accelerated investment in AI. Hospitals see AI as a means of speeding up diagnostics and testing on COVID-19 and providing automated remote consultations for patients in isolation. At the same time, governments will use AI to assess compliance with social distance requirements. ”

IDC analysts evaluated the impact of COVID-19 on 181 European companies and found that as of March 23, 16% of European companies believe that automation using AI and other new technologies can help them minimize the impact of COVID-19. Lack of employees and disruptions in the supply chain will lead to the need to automate all production processes.

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