AI-Related Security Fears Drive 2024 IT Spending
Help Net Security, Friday, October 27,2023
Worldwide IT spending is projected to total $5.1 trillion in 2024, an increase of 8% from 2023, according to Gartner.
While generative AI has not yet had a material impact on IT spending, investment in AI more broadly is supporting overall IT spending growth.
'In 2023 and 2024, very little IT spending will be tied to GenAI,' said John-David Lovelock, VP Analyst at Gartner. 'However, organizations are continuing to invest in AI and automation to increase operational efficiency and bridge IT talent gaps. The hype around GenAI is supporting this trend, as CIOs recognize that today's AI projects will be instrumental in developing an AI strategy and story before GenAI becomes part of their IT budgets starting in 2025.'