PYMNTS.com October 31, 2024
Microsoft’s artificial intelligence (AI) initiatives are delivering unprecedented growth, with the company announcing its AI business is on track to surpass $10 billion in annual revenue run rate next quarter, marking the fastest acceleration to that milestone in the company’s history.
“AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process, helping customers drive new growth and operating leverage,” CEO Satya Nadella told analysts during the company’s fiscal first-quarter earnings call Wednesday (Oct. 30).
The tech giant said its AI momentum is evident across its product portfolio, with Azure OpenAI Service usage more than doubling over the past six months. Major enterprises are rapidly adopting Microsoft’s AI tools, with nearly 70% of Fortune 500...
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