AI spending is rising. Time to reboot your tech brand?

Hi there ??

Despite an inflationary environment, AI spending is on the rise! ??

Just look at these GIANT numbers:??

?? IDC predicts that spending on AI-centric systems will pass $300 billion by 2026.

?? In January 2023, Microsoft announced it will invest $10 billion in OpenAI.

?? Not lagging behind, Google invested $13 billion in AI opportunities in the first half of 2023.

?? In the US, government spending on AI hit $3.3 billion in 2022.

?? In its Spring Budget, the UK government committed to spend $1.1 billion on a supercomputer for AI computing horsepower.?

But why are we seeing an upward trend in AI spending at a time of high inflation? ??

1. Consumers are increasingly spending on AI-powered apps and companies are preparing for increased demand.
2. In the UK, 68% of large companies, 33% of medium-sized companies and 15% of small companies have incorporated at least one AI technology.
3. Tech giants operating in a highly competitive market risk getting left behind if they do not develop AI capabilities. The success of ChatGPT has sparked a race for companies such as Google, Microsoft, and now Amazon to successfully incorporate AI-powered features into their products and services.
4. Nation states are also competing to become leaders in developing AI technologies to reap the economic benefits of AI. By 2030 AI could potentially contribute $15.7 trillion to the global economy.

What is certain is that AI-powered tech companies have a lot to gain from strategically positioning themselves to gain investors’ interest in this highly competitive market.?

How do you plan to reposition your tech brand in an increasingly dynamic and AI-driven marketplace?

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