European AI spending set to hit $290 billion by 2029
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**Executive summary:** IDC forecasts European AI spending to reach $290 billion by 2029 (CAGR 33.7%), with software—particularly AI platforms and agentic AI capabilities—growing fastest; banking, software/information services, retail, and rapidly expanding healthcare are the top industry spenders, while regulatory fragmentation from the EU AI Act, AI talent shortages, and cloud cost optimization are highlighted as key risks and drivers for governance and assurance services.
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