US businesses plan to invest 67% more in GenAI in 2024: Infosys Research

Companies are speedily ramping up investments in generative AI and realising rapid returns, according to research from Infosys Knowledge Institute (IKI), which forecast that companies will hike GenAI investments by 67 per cent in 2024.

This translates to a conservative estimate of USD 6 billion to be invested by the US and Canadian companies in the next year, the findings of the research by IKI said.

Infosys Knowledge Institute (IKI) is the research arm of Indian IT services company Infosys.

“North American businesses plan to invest 67 per cent more in Generative AI in 2024 to drive efficiency, experience and growth,” said the release citing Infosys Research.