Generative artificial intelligence (GenAI) is changing the business landscape at an unprecedented rate. IDC predicts that enterprise investment in GenAI will double in 2023 and exceed US$150 billion in 2027. This huge investment reflects the huge expectations of enterprises for GenAI to improve productivity, reduce costs and ultimately increase revenue. From pure cost control and efficiency improvement, companies will gradually turn to using GenAI to expand business and create new revenue growth points. This shift indicates that AI will replace cloud computing and become the core driver of future technological innovation.
Corporate investment in generative artificial intelligence (GenAI) will double in 2023 and double in 2024, and is expected to reach more than $150 billion in 2027. International Data Corporation (IDC) noted that this marks a key development stage in the field of AI, with enterprises making significant new investments aimed at reducing the time and costs associated with customer and employee productivity use cases. It is expected that by 2024, companies will accelerate investment and gradually transition from reducing costs and improving productivity to increasing revenue and improving business results. IDC predicts that AI will replace cloud computing as the main driver of innovation. Investment focus will be on GenAI infrastructure, but by 2027, GenAI platform and application software spending will gradually exceed infrastructure spending.IDC's forecast clearly demonstrates the booming development of GenAI technology and enterprises' firm confidence in its future value. This indicates that GenAI will profoundly affect all walks of life in the next few years and promote a new wave of digital transformation. Enterprises should plan early and actively embrace the opportunities and challenges brought by GenAI.