OneX CEO Rob Godlonton has a look ahead at what to expect in the world of business technology , including from AI. The rise of ChatGPT in November 2022, in retrospect, looks like as much of an inflection point for the IT industry as the Covid-19 crisis and the subsequent shift to remote working models. But as much traction as artificial intelligence gained during 2023, that was just the beginning for the technology — 2024 is when AI will burst into the mainstream.
Predictions are being made that the worldwide AI software market will grow from US$64-billion in 2022 to nearly $251-billion in 2027. That excludes generative AI solutions and platforms, a market which is expected to have a compounded annual growth rate (CAGR) of 73.3% between 2023 and 2027, more than twice the rate of growth in overall AI spending and almost 13 times greater than the CAGR for worldwide IT spending over the same period. This is a story that is likely to dwarf every other story in IT for years to come
Source: News Formal (newsformal.com)
AI Business Technology Chatgpt IT Industry Covid-19 Crisis Remote Working AI Software Market Generative AI Solutions Growth Rate
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oscar Pistorius to be released on parole in 2024Convicted murderer Oscar Pistorius will leave prison on 5 January 2024, following a decision taken on Friday 24 November 2023 by the parole board. It concludes a decidedly messy chapter for the South African justice system.
Source: dailymaverick - 🏆 3. / 84 Read more »
South Africa's 2024 General Election: ANC's Majority at RiskNew surveys indicate that the incumbent ANC stands a chance of losing its long-standing majority at the national (and more of the provincial) polls for the first time in the nation’s thirty-year democratic history.
Source: BusinessTechSA - 🏆 24. / 61 Read more »
Court Ruling on Government's Responsibility in Power Failure Could Impact 2024 ElectionsA high court ruling that the government has breached the Constitution and the human rights of citizens by failing to run the power system properly is going to have big implications for our debates around rolling blackouts – and our politics. It is going to be used by opposition parties as proof of the ANC’s failure to provide services. The government may be forced to appeal the ruling that it must provide services, during an election when it will argue it should again be entrusted with the very same service delivery. What the ruling will not do, is end rolling blackouts
Source: dailymaverick - 🏆 3. / 84 Read more »
Employee Burnout Predicted to Impact Businesses in 202480% of surveyed global senior risk professionals predict burnout will have a significant impact on businesses in the next year, but only 41% feel that their organisations are equipped to deal with it. Hello headtopics.com administrator, Your posts are always well-delivered and engaging.
Source: ITOnlineSA - 🏆 16. / 63 Read more »
Bungie Delays Destiny 2 Expansion 'The Final Shape' to June 2024Bungie has announced the delay of 'The Final Shape', the next expansion for Destiny 2, to June 4, 2024. The expansion is said to be the culmination of the first ten years of Destiny storytelling.
Source: htxtafrica - 🏆 42. / 51 Read more »
S&P 500 Index Expected to Reach Record High in 2024Bloomberg's survey predicts that the S&P 500 Index will climb to 4,808 points in 2024, with lower gains than this year. Respondents also expect the 10-year Treasury yield to drop. Majority of respondents do not see a hard economic landing as the top risk to markets.
Source: Moneyweb - 🏆 5. / 77 Read more »