AI at scale: One in five businesses spend $750,000+ per year

One in five businesses spend US$750,000 or more on artificial intelligence (AI) per year, while almost half are investing $250,000 annually.

That’s according to new research from Colt Technology Services, which gathered responses from 1,200 IT leaders across 13 countries on how they prioritize AI spend.

Businesses in Singapore (27 percent), the UK (18 percent) and the US (14 percent) are investing over $1 million per year while more than one in four (27 percent) businesses in Hong Kong invest between $750,000 and $999,999.

How are businesses investing in AI?

The survey asked respondents how they’re prioritizing their AI investment. Across all countries currently investing:

• 34 percent prioritize AI-driven innovation and product development.
• 33 percent spend on generative AI for content development.
• 32 percent invest in cybersecurity and threat detection.
• 31 percent are investing in AI to enhance customer experiences.
• 31 percent prioritize AI to drive process optimization and efficiency improvements.

Looking ahead, the research found future investors – organizations not currently investing in AI but planning to in the near future – are shifting their AI spending focus towards automation (37 percent) while also staying consistent with current investors’ priorities of cybersecurity (35 percent) and enhancing customer experience (33 percent).

“This research is an unmissable chance to look behind the scenes, to find out how businesses are investing in and applying AI in day-to-day life,” said Buddy Bayer, chief operating officer (COO) at Colt Technology Services. “It shows just how many IT priorities they’re balancing. Despite the market differences, we’re all part of a connected global economy, and secure, software-driven digital infrastructure is crucial to keep it moving.”

Tech investment priorities differ by geography

The research revealed some interesting statistics in relation to how technology investments vary across geographies.

For example, the UK and US are most likely to focus on network flexibility, with 32 percent and 30 percent respectively naming it in their top priorities. Whereas Japan (35 percent) and Germany (30 percent) are most likely to prioritize reducing the environmental impact of infrastructure.

Italy (34 percent) and Spain (28 percent) are most likely to prioritize rolling out new collaboration and communications, while almost one in four respondents (24 percent) in Sweden/Denmark and the UK cite moving to the cloud as a priority.

Belgium (32 percent) and the Netherlands (31 percent) are most likely to prioritize IT solutions for remote workforces, whereas more than one in five companies in France (21 percent) and around the same in Germany (20 percent) prioritize understanding the impact of quantum on their networks.

One in four companies in Japan (25 percent), 20 percent in France and 19 percent in Hong Kong are focusing their IT priorities to support mergers and acquisitions over the next 12 months. Edge is a priority for Hong Kong (29 percent) and Japan (22 percent).

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