AI is consuming corporate tech spending budget, with most going to employee adoption
Publishing timestamp: 2024-06-20 14:03:23
Summary
High interest rates are impacting tech spending, with AI and cloud investments being prioritized. Companies are focusing on employee-facing AI projects over customer apps. The need for AI integration is driving technology spending, with concerns about economic slowdown lingering. Companies are investing in AI to meet customer demand and transform using technology, data, and AI. Nvidia is seeing increased demand for hardware due to gen AI deployment. The survey shows an increase in the percentage of employees using AI at work, with a focus on enterprise AI solutions. HPE and Nvidia announced a partnership to accelerate generative AI adoption in enterprise. Dell reported significant growth in sales from data centers, with AI servers being a key driver. The gen AI breakthrough is occurring as traditional semiconductor technology has reached a standstill.
Sentiment: MIXED
Tickers: NVDA, HPE, DELL, PSTG, CSA-FF,
Keywords: hewlett packard enterprise co, pure storage inc, technology, generative ai, business news, artificial intelligence, accenture plc, nvidia corp, suppress zephr, dell technologies inc,