U.S. government spending on artificial intelligence has exploded in the past year, driven by increased military investments, according to a report by the Brookings Institution, a think tank based in Washington D.C.
The report found that the potential value of AI-related federal contracts increased by almost 1,200%, from $355 million in the period leading up to August 2022, to $4.6 billion in the period leading up to August 2023.
This increase was almost entirely driven by the Department of Defense (DoD). The total amount committed by the DoD to AI-related contracts increased from $190 million in the period leading up to August 2022 to $557 million in the period leading up to August 2023.
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