AI Revenue Projected To Top $89 Billion

The adoption of artificial intelligence across multiple industries will drive significant revenue growth during the next decade, according to a new research report.

AI software will increase from $3.2 billion last year to $89.9 billion by 2025, according to the study by Tractica.

“Artificial intelligence is already key to how consumer internet companies operate today, allowing them to roll out hyper-personalized services by following an AI-first strategy,” stated Aditya Kaul, research director.

The consumer share of total AI revenue will drop from 26% last year to 8% by 2025, according to Kaul. However, its revenue in terms of absolute dollars will increase more than sevenfold during the same timeframe.

Artificial intelligence will create more than 2 million jobs in 2020, according to a recent report by Gartner. It also will eliminate nearly 2 million, with education, healthcare and the public sector seeing growing demand while manufacturing declines.

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