Research firm IDC projects that global spending on artificial intelligence (AI) will grow at an annual rate of 29% through 2028, reaching $632 billion. Key drivers for this increase include the integration of AI, especially generative AI (genAI), into various products. Financial services, banking, software, information services, and retail sectors are set to account for 45% of total AI expenditure. While genAI's share will be one-third of overall AI spending, its growth rate is expected to outpace the broader AI market. The U.S. will lead in AI investments, with anticipated spending of $336 billion by 2028. IDC also notes a significant rise in AI software demand, which will comprise more than half of total AI technology spending.

IDC: Expect AI spending to more than double to $632B Computerworld

Health systems worldwide are grappling with challenges like rising costs, workforce shortages, and aging populations while facing increased consumer demands for digital services such as telemedicine. To address these issues, many health systems are prioritizing digital and AI transformation. However, a recent survey of 200 global health system executives revealed that while 75% acknowledge the importance of these transformations, they feel their current investments are insufficient. The survey highlights budget constraints, legacy systems, and a lack of resources as significant barriers. Despite these challenges, executives report high satisfaction in areas where digital investments have been made, indicating potential for substantial benefits if barriers are overcome with strategic investments and partnerships.

Digital transformation: Health systems’ investment priorities McKinsey & Company

**Jassy Touts Amazon Pharmacy’s ‘Resonance’ With Customers**

Amazon CEO Andy Jassy highlighted the growing success and customer satisfaction of Amazon Pharmacy during the company’s Q2 earnings call. Launched in November 2020, Amazon Pharmacy has expanded its offerings, including the RxPass program for Medicare beneficiaries, which provides unlimited access to 60 common generic medications for $5 a month for Prime members. The service, which allows users to manage prescriptions digitally and receive discounts, is expanding same-day delivery to more U.S. cities. E-commerce experts credit Amazon's competitive pricing as a major factor in disrupting traditional pharmacy models, although online pharmacy remains a small market segment.

**Account Onboarding Gets Its AI Makeover**

Garrett Laird, director of product management at Amount, discusses the crucial role of proactive anti-fraud measures for financial institutions (FIs) during the "What's Next in Payments" series. Laird emphasizes that waiting to address fraud until breaches occur can be costly. Leveraging AI and machine learning in the onboarding process can enhance both security and customer satisfaction, making onboarding seamless while preventing fraud. Amount’s technology enables FIs to verify identities and detect fraud in real-time, thus striking a balance between blocking fraudulent activities and

Jassy Touts Amazon Pharmacy’s ‘Resonance’ With Customers PYMNTS

The article juxtaposes the divergent perspectives on healthcare reform discussed at two simultaneous events: a Democratic gathering in Chicago and an Epic Systems user conference in Verona. Democrats tout a recent drug pricing deal and advocate for more systemic regulation and protection of the ACA, criticizing the for-profit motives of the healthcare industry. Meanwhile, Epic celebrates its market dominance and emphasizes the role of technology in healthcare transformation. Both acknowledge the need for systemic change, driven by growing societal inequities and dwindling public trust, indicating an urgent tipping point for healthcare reform. The article concludes that real transformation may depend on outsider forces, as political risks deter comprehensive reform efforts.

The Two Tipping Points prompting Outsider Demand for Health System Transformation - Paul Keckley The Keckley Report