Business AI spending set to hit $342bn this year

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The global Artificial Intelligence (AI) market is set to earn a total of $341.8 billion, a rise of 15.2% compared to 2020, according to a new report from IDC.

The analyst firm notes that both software and hardware, as well as AI services, will experience growth, not just this year, but in more years to come – and by 2024, worldwide revenue from the AI market could hit $500 billion. 

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