IDC Expects Genai Spending To Double In These Areas In '24
ComputerWorld, Tuesday, January 2nd, 2024
GenAI's meteoric rise will not slow anytime soon, as companies transition from early experimentation to aggressive infrastructure and trained data model building.
Enterprises spent about $19.4 billion worldwide on generative artificial intelligence (genAI) technologies in 2023 - and that amount is expected to double this year, according to research by IDC.
Organizations are spending on genAI software as well as related infrastructure hardware and IT/business services. By 2027, spending is expected to reach $151.1 billion, representing a compound annual growth rate of 85.9% over the 2023-27 period.