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 …