Organizations within the Asia Pacific (APAC) region are set to accelerate their spending on artificial intelligence (AI) technologies in the next three years so as to enhance efficiency and speed up decision-making.

Indeed, a study by IDC showed that the spending on AI systems will grow from $17.6bn in 2022 to around $32bn in 2025. The industry that will increase their spending on AI are banks, as well as state and local governments, so as to prevent fraud and keep public spaces safe. The professional services industry will also be investing in AI to resolve customer issues and improve customer services.

Moreover, companies are set to spend more on hardware while software investment will account for 31%. 71% of total AI spending in software will then go towards AI applications and platforms.

By deploying AI applications, these businesses will have to address the increasing government regulation and mandates regarding AI’s trust, robustness, and ethical use.