October 2, 2024

Where is the Budget for AI Coming From?

In this article:

Morgan Stanley surveyed a group of CIOS to understand the sources of AI budget.
If hyperscalers deploy $100b in capex on AI this year & legions of software vendors hawk AI solutions, the money to justify it must come from somewhere.
41% of CIOs said net new spend. 35% said existing software spend.
Only 6% said it would come from professional services.
Compared to 2023, those originally saying they wouldn’t invest in AI are predominantly repurposing existing software spend.

RegulatingAI, a non-profit organization, is dedicated to establishing a platform for grassroots advocacy concerning artificial intelligence (AI) regulation. We serve as a bridge connecting AI experts, researchers, corporations, NGOs, academicians, students, and enthusiasts. RegulatingAI is committed to harnessing the power of shared knowledge to construct a responsible and ethical AI ecosystem.