GenAI investments surge, anticipated to hit $143 billion by 2027

Enterprises will invest nearly $16 billion worldwide on GenAI solutions in 2023, according to IDC. This spending, which includes GenAI software and related infrastructure hardware and IT/business services, is expected to reach $143 billion in 2027 with a compound annual growth rate (CAGR) of 73.3% over the 2023-2027 forecast period. This is more than twice the growth rate in overall AI spending and almost 13 times greater than the CAGR for worldwide IT spending over … More →

The post …

artificial intelligence business business services compound enterprises forecast genai generative ai growth hardware idc infrastructure investment period rate report services software solutions spending survey