Cyber Security Research

76% Of Enterprises Prioritize AI & Machine Learning In 2021 IT Budgets

43% of enterprises say their and Machine Learning () initiatives matter “more than we thought,” with one in four saying and should have been their top priority sooner.

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SwissCognitive, AI, Artificial Intelligence, Bots, CDO, CIO, CI, Cognitive Computing, Deep Learning, IoT, Machine Learning, NLP, Robot, Virtual reality, learning50% of enterprises plan to spend more on and this year, with 20% saying they will be significantly increasing their budgets.

56% of all enterprises rank governance, security and auditability issues as their highest-priority concerns today.

In just over a third of enterprises surveyed (38%), data scientists spend more than 50% of their time on model deployment.   

Enterprises accelerated their adoption of and in 2020, concentrating on those initiatives that deliver revenue growth and cost reduction. Consistent with many other surveys of enterprises’ and accelerating projects last year, Algorithmia’s third annual survey, 2021 Enterprise Trends in Machine Learning finds enterprises expanding into a wider range of applications starting with process automation and customer experience. Based on interviews with 403 business leaders and practitioners who have insights into their company’s efforts, the study represents a random sampling of industries across a spectrum of maturity levels. Algorithmia chose to limit the survey to only those from enterprises with $100M or more in revenue. Please see page 34 of the study for additional details regarding the methodology.   

Key insights from the research include the following:

  • 76% of enterprises prioritize and () over other IT initiatives in 2021. Six in ten (64%) say and initiatives’ priorities have increased relative to other IT priorities in the last twelve months. Algorithmia’s survey from last summer found that enterprises began doubling down on & spending last year. The pandemic created a new sense of urgency regarding getting and projects completed, a key point made by CIOs across the financial services and tech sectors last year during interviews for comparable research studies. […]

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