Retailers and banks are sinking more money than any other industry into artificial intelligence capabilities, according to a new study from the International Data Corporation.
The retail category as a whole will spend $5.9 billion this year on tools like automated customer service agents and product recommendation generators, while the banking sector is set to put $5.6 billion toward more security-oriented AI uses like fraud prevention and threat intelligence, according to the report. Total spending from businesses on AI is projected to reach nearly $35.8
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