AI costs in Europe will grow to $96.1 billion per year by 2027 – Kommersant
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In 2023, the cost of developing artificial intelligence in Europe will be $34.2 billion, which is approximately 20.6% of the global total. By 2027, spending on AI per year in Europe could grow to $96.1 billion. About this reports analyst firm IDC.
The company believes that the industry will continue to show serious growth, even despite the high level of inflation, macroeconomic and geopolitical difficulties. The compound annual growth rate (CAGR) from 2022 to 2027 in Europe is forecast to reach 29.6% versus 26.9% globally.
The largest AI segments are banking (15.7%), professional services (11.2%), retail (10.9%), manufacturing (10.3%) and telecommunications (8%). The development of the industry is facilitated by generative neural networks, and AI is also used to optimize IT departments, improve the quality of service and customer safety, and prevent cyber attacks.
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