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In 2019, there was a general expectation for a 71% increase in companies’ budget for machine learning. This was due to the widespread use and potential benefits of the technology. The chip market also saw a significant increase in demand, as it is essential for data scientists and analysts. This trend is expected to continue, with a potential 400% increase in spending between 2021 and 2027. The adoption of machine learning has also led to the development of numerous applications, with a total spending of $29 billion in 2021. This shows the growing acceptance and integration of technology in various industries and regions.