The value of the Artificial Intelligence market in Russia will reach $139.3 mio as of the end of 2019, and the investment in the AI technology will be growing by 30% every year.
This is the estimate quoted by experts of International Data Corporation (IDC) in their research of Russia’s AI market, conducted with the support of ABBYY. The survey involved more than 200 representatives of large businesses. According to the poll, around 30% of the companies are already implementing pilot AI projects while the other 70% are planning to introduce the technology in their business within the next two years. The most popular applications of AI include smart data processing, technical support automatization and developing digital assistants for the staff processing information.
IDC experts define AI as software and solutions that imitate human behavior and are capable of self-learning, identifying causes of errors and correcting their actions. The survey found that one of the priority areas for AI development in Russia is developing solutions that recognize, extract, categorize and analyze data from various documents and sources. Around 38% of the companies that already operate AI systems are using smart data processing to improve the quality of customer service that is, to register users, automatically provide technical support and confirm a customer’s identity remotely. The researchers expect that the number of AI projects will double by 2021 – among other, due to the fast growth of the amount of unstructured data. According to IDC, this is a problem for 78% of Russian companies and the number continues to grow.
“The survey results demonstrate that AI solutions are in demand. This technology will continue to develop through the increase in the amount of data containing valuable information. Companies will be more thorough in their choice of technologies tailored to their business needs. They will be carefully deciding whether it is necessary to use AI as an independent system or it is better to implement it in the existing processes,” comments Elena Semenovskaia, Research Director at IDC Russia and CIS.
“The Russian AI market is coming of age. Companies have tested AI in pilot projects and are moving on to actual applications of AI in financial planning, risk management, marketing campaigns and other tasks. Development of the natural language processing technology is opening up new opportunities for businesses. Even now, these solutions are used by almost one-third of the market and by 2021 their number will be twice as high. Another priority for companies, reported by 60% of the poll participants, is developing a full-scale strategy for AI implementation,” said Dmitry Shushkin, CEO of ABBYY Russia.