Source: AI Valley Newsletter
According to a Bloomberg Intelligence report, generative AI is set for huge growth. It’s projected to jump from $40 billion in 2023 to an amazing $1.3 trillion in annual spending by 2032. Yes, you heard it right, trillion! That’s an annual growth rate of 42% over the decade, and it could make up 12% of global tech spending by 2032. It’s not slowing down anytime soon. But, here’s the kicker, the report suggests that it’s not the newcomers, the startups that are going to cash in on this boom. Instead, the big guys like Amazon, Microsoft, Google, and Nvidia, they’re expected to be leading the charge.
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