Worldwide spending on artificial intelligence (AI), including AI-enabled applications, infrastructure, and related IT and business services, will more grow by 29% annually at least through 2028 and reach a value of $632 billion, according to a new IDC Worldwide AI and Generative AI Spending Guide. The financial services industry is expected to spend the most on technology, with banking leading the way; financial services will account for more than 20% of all AI spending, followed by software and information services and retail.

Source: ComputerWorld