Artificial intelligence (AI) projects are set to comprise up to 10% of companies’ IT budgets. That’s according to a report Sunday (May 12) by Seeking Alpha, citing research by Wedbush. As the report notes, it’s a dramatic jump in AI spending, which last year accounted for under 1% of IT spending. “While the first wave of the AI Revolution is being led by the Godfather of AI Jensen and Nvidia along with Nadella/Redmond … now the 2nd/3rd/4th derivatives of this $1 trillion of spending over the next decade is hitting the shores of the tech sector,” a Wedbush note said

New York City, the concrete jungle where dreams are made, is now dreaming of a new kind of dominance: artificial intelligence. The metropolis, long known for its towering skyscrapers and fast-paced financial district, is setting its sights on becoming the next Silicon Valley, according to a report by Accenture and interviews with business leaders and AI experts. From the bustling streets of Manhattan to the hipster havens of Brooklyn, the city is abuzz with talk of AI. Companies are funneling resources into AI while the city’s professionals seek to capitalize on this emerging technology’s potential