That's IDC's forecast
IDC analysts predict European spending on artificial intelligence (AI) systems will be $17.3 billion in 2021 and will exceed $50 billion in 2025. In this case, the average annual growth from 2021 to 2025 will be 26.7%.
According to analysts, banks and manufacturing will spend the most on AI during this period. In the long term, healthcare spending will grow the fastest. Retail AI spending will focus primarily on automating customer service and implementing recommendation mechanisms and automating the sales process. Manufacturing will direct most of its AI investments toward solutions and systems for quality management and systems that help with timely preventive maintenance. "European AI spending will reach $22 billion in 2022, and the market will grow significantly, meaning that European companies will see AI as a priority technology that will have a significant impact on various industries," said Andrea Minonne, senior analyst at IDC. - European companies are increasing investments in smart solutions because they realized the value of adopting smart and automated approaches during last year's COVID-19 pandemic in terms of business efficiency and digital sustainability."