AI technology for defense has grown by 33.5% in last year, study saysNews
January 25, 2022
LONDON. A recent GlobalData market report has highlighted that artificial intelligence (AI) sector deals have grown by 33.5% in the last 12 months, with the average deal being valued at $159 million.
GlobalData confirms that the number of AI deals is likely increasing as the technology becomes more advanced and more companies see market opportunities in the technology. The current market growth in deals has largely occurred in the Asia-Pacific region, but in the last 12 months the South and Central American market has increased by 200%.
GlobalData’s latest report AI in Aerospace and Defense highlights the transformative potential of AI, and its ability to streamline otherwise human-led data processing procedures. The report also signals that a race for AI dominance between the United States, Russia, and China will lead to significant government investment in the technology.
According to the company, AI technologies are rapidly evolving. The United States and China are developing their AI capabilities for a broad range of military functions that will have a prominent impact on the defense sector.