Sector AI Spend to Exceed $10bn by 2033

India-based researchers Scoop’s per-annum forecast is based on information culled from a variety of sources, including Big 4 accountants and management consultants. It estimates an average CAGR of 42% in Generative AI spend by manufacturers worldwide.

Written by Yogesh Shinde in Pune, the report spending on AI will top US156bn over the coming decade, more than half of which it says will be on-premises due to issues surrounding proprietry data flows. Fully half of MES (manufacturing execution systems) will incorporate Gen AI for real-time optimization in 2024.

The report ranks sectors (led by the automotive industry) where Generative AI spend will be greatest. It offers use-case applications, highlights implementation challenges, and assesses vendors of Generative systems for manufacturers among 200-plus pages of insight and intel. Get it here. [Paid access.]