AI hardware and software market likely to reach up to $990 billion by 2027

New Delhi, Sep 25: The global market for AI-related hardware and software is likely to reach between $780 billion and $990 billion by 2027, growing between 40 percent and 55 percent annually, according to a report on Wednesday.

Larger data centres could drive costs to between $10 billion and $25 billion in five years, as per research by Bain and Company.

David Crawford, chairman of Bain’s Global Technology practice, said that Generative AI is the prime mover of the current wave of change, but it is complicated by post-globalization shifts and the need to adapt business processes to deliver value.