Bloomberg Intelligence Research

Generative AI is poised to become a $2.3 trillion market by 2032, expanding to 22% of total technology spending as enterprises accelerate adoption of AI-powered software, infrastructure and services. Coding agents, reasoning models and enterprise deployments are emerging as the next major drivers of growth.

With private companies gaining ground and public listings in decline, investors face a growing transparency gap — one that puts $43.4 trillion in retirement assets at risk as exposure to privately held firms grows.

European banks are accelerating AI investment, but the near-term impact is higher costs and increased hiring rather than immediate efficiency gains. As lenders move from pilot programs to scaled deployment, infrastructure upgrades and demand for engineering talent are extending return timelines and testing execution discipline.

Artificial intelligence agents are poised to reshape the application-software market, lowering barriers to software creation while increasing competition and pressuring margins. As enterprises adopt agent-driven workflows, pricing is shifting from seat-based subscriptions toward usage- and outcome-based models, challenging the recurring-revenue framework that has defined SaaS for two decades.