European AI spending set to reach $290bn by 2029

European spending on artificial intelligence is forecast to reach $290 billion by 2029, according to a report by the International Data Corporation (IDC).

The forecast represents a compound annual growth rate of 33.7 per cent between 2025 and 2029, reflecting rapid expansion across the region.

Growth is expected to be driven by major investments from banking, retail, and software and information services, alongside accelerating adoption in healthcare.

Generative...