IDC | March 21, 2022
Spending on artificial intelligence in the United States will grow to $120 billion by 2025, representing a compound annual growth rate (CAGR) of 26.0% over the 2021-2025 forecast period. Moreover, all 19 U.S. industries profiled in the latest Worldwide Artificial Intelligence Spending Guide from International Data Corporation (IDC) are forecast to deliver AI spending growth of 20% or more. The U.S. also accounts for more than half of all AI spending worldwide.
Retail will remain the largest U.S. industry for AI spending throughout the forecast while Banking will be the second largest industry. Together, these two industries will represent nearly 28% of all AI spending in the United States in 2025 and will account for nearly $20 billion of the amount added to the U.S. total over the forecast. The U.S. industries that will see the fastest growth in AI spending will be Professional Services, Media, and Securities and Investment Services, all of which will have CAGRs greater than 30%.
Within Retail, the AI use cases that will receive the most investment will be Augmented Customer Service Agents, and Expert Shopping Advisors & Product Recommendations. These two use cases encourage and assist increased spending by retail customers and account for nearly 40 percent of AI spending in the industry. The shift to online shopping contributes considerably to the adoption of AI within retail. AI spending in the Banking industry will be spread across several different functional areas, including customer service (Program Advisors and Recommendation Systems), operations (Fraud Analysis and Investigation), and security (Augmented Threat Intelligence and Prevention Systems).
Among the 30 AI use cases included in the Spending Guide, two will remain the largest in terms of total spending throughout the forecast – Augmented Customer Service Agents and Sales Process Recommendation and Augmentation. Together, these two use cases will account for more than 20% of all AI spending in the U.S. in 2025. In terms of growth, two AI use cases (Public Safety and Emergency Response and Augmented Claims Processing) will have five-year CAGRs greater than 30% while a third use case (IT Optimization) will ride a CAGR of 29.7% to become the third largest AI use case in 2025.
The greatest potential benefit for the use of AI remains its use in developing new business, and building new business models. However, existing businesses are hesitant to embrace this potential, leaving the greatest opportunities to new market entrants that have no fear of change and can adapt easily to new ways of conducting business. The future for business is AI and those companies that can seize this opportunity could easily become the new giants."
Mike Glennon, senior research manager with IDC's Customer Insights & Analysis team
The Worldwide Artificial Intelligence Spending Guide sizes spending for technologies that analyze, organize, access, and provide advisory services based on a range of unstructured information. The Spending Guide quantifies the AI opportunity by providing data for 30 use cases across 19 industries in nine regions and 32 countries. Data is also available for the related hardware, software, and services categories.
The IDC Worldwide Artificial Intelligence Spending Guide uses a precise definition of what constitutes an AI Application in which the application must have an AI component that is crucial to the application – without this AI component the application will not function. This distinction enables the Spending Guide to focus on those software applications that are strongly AI Centric. In comparison, the IDC Worldwide Semiannual Artificial Intelligence Tracker uses a broad definition of AI Applications that includes applications where the AI component is non-centric, or not fundamental, to the application. This enables the inclusion of vendors that have incorporated AI capabilities into their software, but the applications are not exclusively used for AI functions only. In other words, the application will function without the inclusion of the AI component.
About IDC Spending Guides
IDC's Spending Guides provide a granular view of key technology markets from a regional, vertical industry, use case, buyer, and technology perspective. The spending guides are delivered via pivot table format or custom query tool, allowing the user to easily extract meaningful information about each market by viewing data trends and relationships.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,200 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company.
AvePoint | April 06, 2021
AvePoint, the leading supplier of data storage systems for the Microsoft cloud, announced today that the AvePoint Online Services cloud platform has received FedRAMP authorization.
AvePoint Online Services' security controls have been rigorously tested, and its SaaS solutions have been certified for use in all federal agencies at the moderate impact level.
AvePoint Online Services is a software-as-a-service solution for migrating, maintaining, and securing data in Microsoft 365, enabling government departments to be consistent with digital collaboration. This includes backup for Microsoft 365, records management, permissions management, Microsoft Teams/SharePoint workspace management, and other features.
The Department of Energy served as the agency sponsor, with Maria Levesque, director of records management, orchestrating the campaign on the agency side.
As a result of this approval, the Department of Energy will be able to modernize and simplify its approach to records management in SharePoint and Microsoft Teams to conform with the M-19-21 NARA mandate.
AvePoint solutions are used by over 400 public organizations, including 163 federal agencies, to transfer, maintain, and protect their Microsoft 365 and SharePoint data.
"Agencies are using the Microsoft cloud and more sophisticated collaboration services in greater numbers than ever before. However, when they do so, too much data is generated in too many ways for traditional, manual compliance processes to handle "Taylor Davenport, AvePoint's Executive President of the US Public Sector, said, "By introducing automated solutions for managing, protecting, and securing their digital collaboration systems, agencies can achieve compliance in a more cost-effective and painless approach."
AvePoint allows you to collaborate comfortably. In the Microsoft Cloud, its data processing solutions assist our diverse global client base in overcoming complex transformation, governance, and regulatory issues.
AvePoint, a five-time Microsoft Partner of the Year winner, has the only complete suite of SaaS solutions for migrating, managing, and protecting data in Microsoft 365. Their solutions are used by over 7 million cloud customers, including a fifth of the Fortune 500.
Oracle | January 28, 2021
The Oracle Cloud Marketplace is currently accessible for U.S. government customers, empowering offices to completely computerize the arrangement of guaranteed arrangements straightforwardly on Oracle Cloud Infrastructure (OCI). Government customers can now effectively send applications from a developing library of Oracle and outsider autonomous programming merchants (ISVs) to help uphold their hierarchical objectives and serve the necessities of constituents.
Oracle Cloud Marketplace is a unified vault of big business applications accessible in Oracle Cloud Infrastructure Government Cloud.
Customers hoping to move or stretch out outstanding burdens from on-premises to Oracle Cloud Infrastructure can undoubtedly find and send arrangements offered in Oracle Cloud Marketplace. Oracle Cloud Marketplace is an all in one resource for Oracle customers looking for believed business applications offering extraordinary business arrangements, including those that broaden Oracle Cloud Applications. Customers can interface and broaden their server farm organization, just as ensure their outstanding tasks at hand past Oracle Cloud local security choices, without requiring huge arrangement, mix, or business measure changes.
"Government customers rely on Oracle Cloud to run application workloads in highly available hosted environments," said Scott Twaddle, vice president, regulated markets, Oracle Cloud Infrastructure. "The availability of Oracle Cloud Marketplace allows government customers to automate the provisioning of Oracle applications and databases as well as third-party software. This simplifies migrations from on-premises environments to the cloud, dramatically reducing deployment times to hours, instead of days or weeks."
Oracle Cloud Marketplace has acquired approval from the Federal Risk and Authorization Management Program (FedRAMP), the public authority program that sets the norm for surveying, approving, and checking cloud frameworks' security. The accreditation guarantees government customers that Oracle Cloud Marketplace fulfills the most elevated guidelines of security and consistence.
Oracle Cloud Infrastructure has also achieved FedRAMP JAB P-ATO Accreditation for Oracle Cloud Infrastructure Compute Service, Object Storage Service, Block Storage Service, Database Cloud Service, Exadata Cloud Service, Key Management Service, Virtual Cloud Networks, FastConnect, Load Balancing as a Service, Identity and Access Management, and Auditing.
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