European AI spending set to hit $290 billion by 2029 (opens in new tab)

European enterprises are committing serious money to AI, and the numbers are accelerating. According to IDC’s Worldwide AI and Generative AI Spending Guide, AI spending across Europe will reach $290 billion by 2029, growing at a compound annual growth rate of 33.7%. Organizations across the continent are moving AI out of proof-of-concept projects and into core operations, with budgets reallocating toward multi-agent systems and AI-embedded enterprise strategies. Software leads on spending; AI...