Corporate spending on AI and 2 nice reports

Inside AI  (Could subscribe to free newsletters)

What happened: Across the world, annual corporate spending on AI rose from $12.8B in 2015 to $93.5B in 2021, according to Stanford University's "Artificial Intelligence Index Report 2022."

Why it matters: Microsoft's reported plan to invest $10B in OpenAI is just one more bet on AI as the landscape gets more competitive in 2023. Microsoft, Alphabet, and other players, with new startups launching on top of ChatGPT APIs, will find more ways to keep investment flowing.

Where to see the impact: A 2022 McKinsey survey found that robotic process automation, computer vision, natural-language text understanding, and virtual agents and interfaces were the most popular use cases. ChatGPT, Bard, and other apps could bring AI into the mainstream through common office apps and search, where the tech may be impossible to avoid in the near future.