Among 13 global industry sectors, the insurance industry is leading expenditure in Artificial Intelligence (AI) systems with $124 million, a study by IT major Tata Consultancy Services (TCS) said on Tuesday.
According to the study which covered North America, Europe, Asia-Pacific and Latin America, the average expenditure on AI systems was $70 million across the sectors surveyed.
Next to insurance, consumer packaged goods reported the second most significant expenditure with $95 million.