Companies — and VCs — continue to invest in AI despite market slowdown

While hiring freezes at Big Tech firms might be hurting certain AI investments, it’s clear that there remains a strong appetite throughout the enterprise for AI technologies — whether developed in-house or outsourced to third parties.
According to a McKinsey survey from early December, AI adoption at companies has more than doubled since 2017, with 63% of businesses expecting spending on AI to increase over the next three years. In February, IDC forecast that companies would increase their spend on AI solutions by 19.6% in 2022, reaching $432.8 billion by the end of the year and over $50

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