Global spending on generative AI will exceed $140 billion in 2027

According to the forecast of the research organization International Data Corporation (IDC), investments of global companies in solutions based on generative artificial intelligence (AI) will reach $143 billion by 2027. 

In 2023, expenditures in this area are expected to amount to $16 billion. And in the next five years, spending on generative AI will grow at an average annual rate of 73.3%, which is more than twice as fast as spending on general artificial intelligence, and almost 13 times faster than spending on IT.

IDC Vice President Ritu Joti noted that GII is considered today as a transformative technology with far-reaching consequences and impact on business and society. And with ethical and responsible use, GII can not only transform and improve entire industries, but also change the way people work, play and interact with the world.

IDC experts expect that by 2027 the costs of generative AI will amount to 28.1% of all investments in AI in general. In 2023, this figure is 9%.