IBM Study: AI Spending Expected To Surge 52% Beyond It Budgets As Retail Brands Embrace Enterprise-Wide Innovation
IBM News, Tuesday, January 7th, 2025
The report found that 81% of surveyed executives and 96% of their teams are already using AI to a moderate or significant extent
A new global study from the IBM Institute for Business Value found that surveyed retail and consumer product executives are dramatically shifting their focus toward artificial intelligence (AI), with responses indicating that participants project spending outside of traditional IT operations could surge by 52% in the next year.
The report, titled "Embedding AI in Your Brand's DNA," reveals how brands are preparing for the next phase of AI-driven transformation across the enterprise.
By 2025, retail and consumer products companies surveyed say they plan to allocate an average of 3.32% of their revenue to AI - equivalent to $33.2 million annually for a $1 billion company.
This investment is set to span functions such as customer service, supply chain operations, talent acquisition, and marketing innovation, highlighting AI's expansion beyond traditional IT applications.