Generative AI Spending Forecast to Top $150 Billion by 2027, Indian IT Industry Poised to Benefit
• Global enterprise spending on generative AI expected to cross $150 billion by 2027 (Moody's forecast)
• Rapid innovation in AI technologies anticipated, with more users and developers getting involved
• Indian IT services industry stands to benefit from growing demand for generative AI
• Banking, insurance, and manufacturing identified as sectors where generative AI adoption will accelerate fastest
• Most non-tech firms not expected to see credit impact from generative AI until 2026 or later