Artificial Intelligence & Machine Learning: BGOV Market Profile
Since the Trump administration released the landmark executive order Maintaining American Leadership in Artificial Intelligence in February 2019, federal policy making and contracting activity regarding artificial intelligence and machine learning (AI/ML) has accelerated sharply.
In that time, the federal government launched an updated national strategic plan for research and development in artificial intelligence and outlined best practices for how agencies should regulate AI/ML technologies.
The government has established two offices aimed at stimulating AI/ML research and development and the adoption of AI/ML technologies: the Defense Department’s Joint Artificial Intelligence Center and the A.I. Center of Excellence – overseen by the General Services Administration. Meanwhile, contract spending by both federal civilian and defense agencies has grown by hundreds of millions of dollars per year.
Bloomberg Government developed a market definition for artificial intelligence and machine learning to help clients and researchers understand the scope of federal spending on AI/ML contracts, as well as to identify upcoming contract opportunities.
Download the findings from our analysis for key insights:
- Bloomberg Government projects $2 billion in governmentwide contract spending on AI/ML projects in FY 2020 – up from $1.5 billion in FY 2019
- BGOV projects that federal AI/ML contract spending will grow by almost 30% year over year, reaching $4.3 billion in FY 2023
- Defense contract spending on AI/ML projects is expected to reach $1.4 billion in FY 2020 and double to $2.8 billion by FY 2023
- AI/ML spending by federal civilian agencies is expected to reach $606 million in FY 2020 and rise to $1.4 billion in FY 2023
To contact the analyst on this profile: Chris Cornillie in Washington at email@example.com