Increased focus on AI and big data despite general decline in industry spending
Global expenditure in the IT industry is predicted to decline by nearly 4% by the end of this year according to research by IDC. Leading software companies like SAP and Microsoft intend to focus on emerging technologies to become more efficient and relevant to current industry changes.
Software companies are accelerating their attention towards in-demand technologies and innovative tools to support their clients in response to the challenging times we are experiencing and a continued reduction in technology investment.
According to research consultancy IDC, the uptake of big data and artificial intelligence is anticipated to rise despite global spending in IT due to drop by nearly 4% this year. Leading software companies like SAP and Microsoft are making preparation to utilise emerging technologies to add further value to their customers. IBM has launched its own AI platform on the public cloud, making it available free of charge for 90 days. It helps customers understand and answer questions concerning COVID-19. Anil Bhasker, the business unit leader at IBM South Asia and India explains that businesses are experiencing significant impacts from the pandemic but the larger established businesses are using this time to recreate their approach, particularly towards analytics.
Bhasker explains that data science teams are being called upon to measure information to create the most effective business models based on informed and trusted data sets. Enterprises are utilising the benefits of emerging technologies such as AI, machine learning and natural language processing to deliver predictive models for their customers.
Many other industries are showing high demand for AI and ML-based analytics to enhance and automate their communications and decision-making processes.
Last month SAP launched a range of solutions to support companies with business continuity. This includes SAP Litmos, a remote training tool and SAP Ariba Discovery, a product that offers support for suppliers and buyers for sourcing requirements. Microsoft has also recently launched a number of new AI features to Office 365 and rebranded its system as Microsoft 365. The strategy is focused on incorporating intelligent cloud and AI into its services.
IDC has stated that the COVID-19 crisis is definitely a challenge but also an opportunity for IT companies to develop and enhance their capabilities within AI and big data. IDC explains that businesses should embrace AI and see the opportunities available with emerging technologies, particularly within these challenging times.