Generative AI spending to reach $143 billion in 2027: IDC
Enterprise spending on generative AI services, software and infrastructure will skyrocket over the next four years, jumping from $16 billion this year to $143 billion in 2027, according to technology research and advisory firm IDC.
Spending on generative AI over the four year period to 2027 is expected to reach a compound annual growth rate (CAGR) of 73.3%, a figure which IDC says is more than twice the rate of growth in overall AI spending and almost 13 times greater than the CAGR for worldwide spending on IT over the same period.