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Here’s How Much Companies Are Spending on Artificial Intelligence: Eye on A.I.

June 18, 2019

Via: Fortune

Some companies are spending over $5 million on artificial-intelligence projects, showing just how serious businesses are getting about the cutting-edge technology.

The finding comes from a recent survey of over 300 companies by Figure Eight, a business that helps customers label their data. The results provide a glimpse into how quickly companies are adopting A.I. and some of the related complications.

Over half the respondents said they oversee an annual A.I. budget of at least $51,000. Meanwhile, 13% said they control A.I. budgets of $251,000 to $500,000, an amount that reflects a modest commitment and likely small staff.

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