Banking sector gen AI spending worldwide 2023, with forecasts to 2027
The banking sector's spending on generative artificial intelligence (AI) is estimated to grow significantly between 2023 and 2027. In 2023, the total spending value was estimated at 3.86 billion U.S. dollars. With a compound annual growth rate (CAGR) of 55.55 percent, the sector's generative AI spending is forecast to reach 85 billion U.S. dollars in 2030.