The International Data Corp (IDC) expects businesses in Asia Pacific (excluding Japan) to collectively spend US$32 billion (S$43.6 billion) on artificial intelligence (AI) in 2025, up from US$17.6 billion (S$24 billion) this year.
The banking industry is expected to drive the bulk of the AI spending as banks in the region increasingly leverage the technology for augmented threat intelligence and fraud analysis applications.
State/local governments will be the second-highest spender, focusing on public safety and emergency response, augmented threat intelligence, and prevention systems.
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