Global spending on GenAI software, solutions to reach $143 billion in 2027

Global spending on generative AI (GenAI) software and solutions is expected to reach $143 billion in 2027 with a compound annual growth rate (CAGR) of 73.3%, according to a new report.

This is more than twice the rate of growth in overall AI spending and almost 13 times greater than the CAGR for worldwide IT spending over the same period.