Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Global spending on generative AI will exceed $140 billion in 2027


October, 17 2023
watermark Economic news

According to the forecast of the research organization International Data Corporation (IDC), investments of global companies in solutions based on generative artificial intelligence (AI) will reach $143 billion by 2027. 


In 2023, expenditures in this area are expected to amount to $16 billion. And in the next five years, spending on generative AI will grow at an average annual rate of 73.3%, which is more than twice as fast as spending on general artificial intelligence, and almost 13 times faster than spending on IT.


IDC Vice President Ritu Joti noted that GII is considered today as a transformative technology with far-reaching consequences and impact on business and society. And with ethical and responsible use, GII can not only transform and improve entire industries, but also change the way people work, play and interact with the world.


IDC experts expect that by 2027 the costs of generative AI will amount to 28.1% of all investments in AI in general. In 2023, this figure is 9%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.