**FAST GROWTH IN TECH SPENDING**
Businesses worldwide are set to shell out a big 5.3% more on technology this year, a new report says. That’s thanks to skyrocketing demand for software and IT services like AI, cloud, and security. And guess what? Artificial intelligence, or AI, is only set to get bigger, with investments in AI software alone expected to reach a whopping $227 billion over the next decade.
TALK ABOUT ASIA-PACIFIC’S BIG SPEND
Now let’s talk about Asia-Pacific — it’s set to lead the way with the highest growth in tech spending. This is good news for places like India and China, which are expected to see major growth in tech spending this year.
THE DIRTY ON AI ISSUES
But wait, there’s trouble in paradise! Despite the hype around AI, businesses are surprisingly unprepared for the storm it’s set to bring. A whooping 70% of businesses believe they’ll be disrupted by AI in the next five years, but only 21% say they’re ready for it. And leaders say they are struggling to get up to speed because they don’t understand the tech.
WHAT’S THE OUTLOOK?
Despite the challenges, businesses are optimistic about AI. Nearly half of them are investing in infrastructure to prepare for it. The bottom line? It’s clear that businesses are facing an uncertain future when it comes to AI, but the question is — are they ready for it? What do you think — how prepared are businesses for the AI revolution? Let’s hear your thoughts in the comments below!
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