2024 AI spending to comprise 8-10% of businesses' IT budgets, up from less than 1% in 2023.

AI spending is expected to comprise 8-10% of businesses' IT budgets in 2024, a significant increase from less than 1% in 2023, according to Wedbush. Big Tech companies are pouring resources into AI projects, and businesses are increasingly using AI tools, particularly in healthcare and finance. The top 10 AI vendors, based on corporate card transactions, include OpenAI, Midjourney, and ElevenLabs.

May 12, 2024
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