Retail and Banking Lead in Global AI Spending, According to Report
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“The retail category as a whole will spend $5.9 billion this year on tools like automated customer service agents and product recommendation generators,
while the banking sector is set to put $5.6 billion toward more security-oriented AI uses like fraud prevention and threat intelligence, according to the report.
Total spending from businesses on AI is projected to reach nearly $35.8 billion in 2019—a 44 percent increase from last year—and $79.2 billion by 2022.
More broadly, around 17 percent of all spending will go toward software applications of AI”
