Goldman Sachs survey finds IT growth slowing amid AI focus
Big companies are hitting pause on their usual tech spending, thanks to the growing buzz around artificial intelligence (AI).
A Goldman Sachs survey found that while IT budgets are still expanding, growth has slowed as businesses rethink where their money goes: AI is clearly getting more attention.
CIOs anticipate generative AI budgets growing
More chief information officers (CIOs) expect AI to take up a bigger slice of their budgets soon, with 42% predicting generative AI spending will cross 10% in just three years.
Investments in servers and storage for AI are ramping up, but spending on networking and classic IT services is dropping.
Microsoft, Amazon, and Google are now seen as the top vendors because of their cloud and AI strengths.
Basically: companies are shifting gears to make room for all things AI.