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AI Spending Predicted to Pass $13 Billion by 2028

Art by Mohamed Nohassi via Unsplash

AI Spending Predicted to Pass $13 Billion by 2028

By Movieguide® Contributor

Media analysts predict artificial intelligence spending will surpass $13 billion by 2028.

“However, the analysts do not anticipate the content creation apocalypse that has underscored much AI coverage of late,” Variety reported. “Leading off a daylong series of panels that confronted those two troubling vowels on everyone’s mind from a panoply of industry perspectives, research directors from Omdia and Plum Research instead sought to give context – to assuage fears and misconception by framing machine learning more as a tool than as a weapon.”

“AI will not replace humans,” said Omdia’s Maria Rua Aguete. “But humans that know how to use AI will replace those who don’t, because they will be more efficient, more creative, and [better] prepared.”

Plum Research’s Jonathan Broughton says that AI will be a good solution for “talent shortages,” and businesses can use it to their advantage.

“…The main challenge right now is on the management side,” he said. “It’s up to business leaders to understand how to deploy this within their organizations and to create processes within existing workflows.”

“If anything, the postproduction sector should see the most pronounced effect, as assistive tools – and not generative – assume greater prominence in image grading, color correction and frame-rate enhancement, while real-time dubbing and captioning technology grows ever more accurate and cost-effective,” Variety said.

Large corporations like Microsoft already realize this.

“We move from talking about AI to applying AI at scale,” Microsoft CEO Satya Nadella said in early February. “By infusing AI across every layer of our tech stack, we are winning new customers and helping drive new benefits and productivity gains.”

Despite that assistive tools prove to be superior in some regards (according to Variety), a lot of money is still going toward generative AI.

“In 2023, enterprises spent nearly $15 billion on Generative AI, representing 2% of the overall software spends, which will be around 10% in 4-5 years as per the study presented at the SaaSBoomi annual event on March in Chennai,” Money Control reported.

Money Control also noted that AI startups raised $10 billion in venture capital in 2023—a 110% increase from the previous year.

Movieguide® previously reported on the growth of individual AI usage:

A recent study found that using artificial intelligence is becoming commonplace among U.S. adults…

Despite limited enthusiasm for the tech a few years ago, Barna Group and Gloo found that “31 percent of U.S. adults say they use AI weekly or daily. Millennials have become especially frequent adopters, with 43 percent of them using AI at least weekly.”

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Our small team works tirelessly to provide resources to protect families from harmful media, reviewing 415 movies/shows and writing 3,626 uplifting articles this year. We believe that the gospel can transform entertainment. That’s why we emphasize positive and faith-filled articles and entertainment news, and release hundreds of Christian movie reviews to the public, for free. No paywalls, just trusted, biblically sound content to bless you and your family. Online, Movieguide is the closest thing to a biblical entertainment expert at your fingertips. As a reader-funded operation, we welcome any and all contributions – so if you can, please give something. It won’t take more than 52 seconds (we timed it for you). Thank you.


4000+ Faith Based Articles and Movie Reviews – Will you Support Us?

Our small team works tirelessly to provide resources to protect families from harmful media, reviewing 415 movies/shows and writing 3,626 uplifting articles this year. We believe that the gospel can transform entertainment. That’s why we emphasize positive and faith-filled articles and entertainment news, and release hundreds of Christian movie reviews to the public, for free. No paywalls, just trusted, biblically sound content to bless you and your family. Online, Movieguide is the closest thing to a biblical entertainment expert at your fingertips. As a reader-funded operation, we welcome any and all contributions – so if you can, please give something. It won’t take more than 52 seconds (we timed it for you). Thank you.

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