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The global spending on artificial intelligence (AI) is projected to exceed $632 billion by 2028, according to a forecast from the International Data Corporation (IDC). This represents a more than doubling of current expenditures, driven by rapid adoption across various industries including finance, business, and healthcare. Despite challenges in implementation and investor concerns, the demand for AI technologies continues to surge, with annual spending expected to grow by 29%.
IDC's analysis highlights that software will dominate AI technology spending, accounting for over half of the market. Major players like Microsoft are heavily investing in AI, with a notable $10 billion commitment to OpenAI, reflecting a broader trend of increasing capital expenditures in AI infrastructure. The report indicates that as barriers to AI adoption decrease, organizations will increasingly integrate AI into their operations, enhancing employee experience and customer engagement.
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