target audience: TECH SUPPLIER Publication date: Jan 2024 - Document type: IDC Survey Spotlight - Doc Document number: # US51697124
What Is GenAI Spending by Industry Expected to Be in 2024?
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Abstract
This IDC Survey Spotlight provides an industry view of IDC's worldwide generative AI (GenAI) forecast that was recently published in IDC's Worldwide Core IT Spending for GenAI Forecast, 2023-2027: GenAI Is Triggering Hyper-Expansion of AI Spending (IDC #US51539723, December 2023). Enterprises worldwide are expected to spend in excess of $40 billion on GenAI in 2024, swelling to more than $150 billion by 2027. The banking and retail industries, followed by professional services, are the top spenders.