Investing in AI infrastructure

As businesses across industries transform themselves into data-first operations, the push to find more powerful ways to leverage information, including artificial intelligence (AI) and other forms of data-intensive, high-powered computing, is clear. Revenue in the global AI market, including hardware, software and services, is expected to exceed $500 billion in 2023 and investment in AI-tailored hardware is expected to see a compound annual growth rate of 20.5% over the next five years, according to market intelligence firm IDC. Companies that underinvest in their IT capabilities today and into the future are risking their ability to compete effectively in the market.