Artificial intelligence (AI) projects are expected to account for up to 10% of enterprise IT budgets.
That’s according to a Sunday (May 12) report in Seeking Alpha magazine, citing Wedbush’s research.As the report points out, it dramatic jump AI spending accounted for less than 1% of IT spending last year.
“While the first wave of the AI revolution was led by the godfathers of AI, Jensen and Nvidia and Nadella/Redmond, we are now seeing the second, third, and fourth waves of this $1 trillion in spending over the next decade. derivatives of the technology sector are reaching the shores of the world,” Wedbush’s memo said.
“We are seeing more breadcrumbs on an unprecedented wave of AI spending. arm holdings, Palantir, oracle and Some have enhanced the company’s AI spending cycle,” the Wedbush report added.
This finding comes from technology giants like Meta and Apple. and Microsoft is investing heavily in AI projects. For example, Meta last week announced new generative AI tools that allow businesses to: Create images for advertisingMeanwhile, Microsoft recently expanded its services focused on AI assistants. partnership Use ServiceNow.
“We strongly believe this is Microsoft. “iPhone Moment” “AI is set to change the trajectory of Redmond’s cloud growth in the coming years, and our recent checks give further confidence in this dynamic,” Wedbush added.
Last week also announced plans for Microsoft’s $3.3 billion data hub in Wisconsin, designed to teach employees and manufacturers how to optimize their use of AI.It’s part of a growing wave large scale investment In AI infrastructure and training.
“Once the infrastructure is built, companies will have access to more information. Advanced AI ability” and technical analyst Vaclav Winkarek he told PYMNTS. “For example, more sophisticated machine learning algorithms can help analyze increasingly large data sets in shorter time frames. Or better natural language processing can help actually Improve customer service with AI. ”
Meanwhile, PYMNTS last week examined New York’s efforts to compete with San Francisco and Seattle as a leading destination for cutting-edge technologies such as AI.
“If New York learned how to Attract engineering AI talent If we can retain that talent faster and more effectively than the Bay Area, we will create a community where engineers and entrepreneurs passionate about AI can interact, share ideas, and learn from each other. and Advance innovation. ” Egor OrteanuCo-founder and CEO of Bolt AIsaid in an interview with PYMNTS.
“Silicon Valley is a beautiful place between the ocean and the mountains, and California’s climate is almost perfect. What is New York willing to do to attract talent and keep it there? ?”
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