Fundamental, Research

Tech Software: The Roadmap to GenAI Adoption

Janice Quek, Equity Analyst
Angelo Zino, CFA, Senior Vice President & Energy Analyst
20 October 2023


While generative AI (GenAI) has gained significant market attention, we believe demand for generative AI products will materialize unevenly in magnitude and cadence across different players in the technology ecosystem. We see adoption for generative AI software occurring in four phases, and software’s opportunity will only start to show at later stages. Spending on generative AI is expected to rise at a CAGR of 40%+ in the next decade, exceeding $1 trillion by 2032.

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