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FinancialNews
01-10-19
Mideast, Africa AI expenditure to jump
(MENAFN) The Middle East and Africa region is forecast for a 43 percent surge in its artificial intelligence (AI) expenditure for this year compared to a year ago.
Investments from local businesses are witnessing a hike when it comes to initiatives related to the utilization of AI.
Researcher International Data Corporation expects the region to spend USD374.2 million on AI by this year's end, from previous projections of USD310.3 million.
"The use of AI and machine learning is on the rise in a wide variety of business applications," IDC's programme manager Manish Ranjan stated.
"Vendors have started embedding these and cognitive applications to provide ultimate business benefits to end-users," Ranjan added.
MENAFN0110201900450000ID1099071752
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