Global total corporate investment in AI reached nearly $92 billion in 2022. Although down from its peak investment of $276 billion in 2021, it is forecast to hit over $630 billion by 2028, a 30% compound annual growth rate*. This indicates the increasing recognition of AI's potential to revolutionize industries.
From our research, more than 99% of global CEOs are actively or considering using AI across supply chains, with 82% planning to continue or launch a form of AI in the next year. However, only 22% expect it to greatly impact in the same timeframe.
This feels in tune with technology hype curves as buyers and sellers seek to identify and build around value-adding use cases for Generative AI in particular, which currently represents 17% of global AI spending. Given the investment going into Gen AI from all angles, it is plausible that its hype curve is accelerated (compared to other AI technologies) and mainstream products and services get traction in 2025.
