AI investment will increase despite recession says new survey

cnvrg.io, an Intel-owned provider of artificial intelligence (AI) and machine learning (ML) platforms, has released the results of its 2022 annual ML Insider survey, showing that despite the current economic climate, companies are announced that it is increasing its investment in Additionally, the study found that while the majority of organizations recognize the benefits of AI, overall adoption remains low due to AI talent shortages and the technical complexity of AI development. rice field.

The ML Insider survey is Intel’s subsidiary cnvrg.io’s annual analysis of the machine learning industry, focusing on key trends, concerns, and challenges that AI developers face every day. The report’s findings provide insight into how more than 430 AI professionals are building, training, deploying, and adapting machine learning stacks better suited to today’s complex ML workflows.

cnvrg.io ML Insider 2022 Survey Says AI Investment Will Rise Despite Recession

Nearly 50% of respondents indicated that they believe their organizations’ investment in AI development will actually increase despite the current economic climate. Organizations are increasingly confident in the value of AI, with 89% of organizations benefiting from AI solutions. However, AI maturity remains low. More than 57% of respondents said he has fewer than 5 machine learning models running in product, and 14% have not implemented AI in their organization at all.

The biggest challenges in doing AI are the same ones reported in the 2021 ML Insider survey: hiring data science talent and lack of AI expertise. The single most important factor hindering AI adoption has been the technical complexity of its development.

But a 2022 study shows that AI is evolving and becoming more accessible. Data scientists aren’t the only ones with AI in their job descriptions. The role of AI developers is evolving. Seventy-five percent of them report that AI is built by data scientists, engineers and software developers within their organization. In 2023, this trend could help reduce adoption challenges and accelerate the maturity of AI.

“Confidence in the potential of AI is at an all-time high, with most companies recognizing the benefits of their AI solutions and planning to increase investments in AI despite the economic climate. Engineers, Software By enabling developers, data scientists to build AI, we reduce the challenge of hiring, and accessibility will be key to driving universal AI adoption in 2023,” said cnvrg. Yochay Ettun, CEO and co-founder of io, said.