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‘Banking Sector Invests Heavily in AI’

$20.64 Billion Investment In 2023

by Pieter Werner

In 2023, the global investment in AI solutions reached an estimated $154 billion, according to crypto analyst noKYC. The banking and fintech sector emerged at the forefront of this movement, allocating $20.64 billion to AI solutions. Close behind, the retail sector invested $19.71 billion.

The professional services industry, which includes sectors like ride-hailing and food-delivery services, also made significant investments in AI, amounting to $16.02 billion. This investment is attributed to the industry’s existing dependence on data-driven methods.

Furthermore, discrete manufacturing and process manufacturing industries were notable contributors to AI investment, with figures reaching $14.63 billion and $10.93 billion, respectively. These investments reflect a growing trend across diverse manufacturing sectors to integrate AI for enhanced efficiency and innovation.

The collective investments by other industries in AI solutions totaled $71.92 billion in 2023, indicating a broad-based adoption of AI technologies across various sectors. This widespread investment underscores the importance of AI in driving future business strategies and operational efficiencies.

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