BUSINESSJul 13 · 10:00 UTCTHE RIO TIMESRichard Mann

Brazil’s Banks Will Spend $10 Billion on Tech in a Race for AI

Brazil's banks are set to spend $9.8 billion on technology by 2026, marking an 8% annual increase. Over five years, tech budgets have risen 58% as banks shift towards becoming tech firms, with cybersecurity, cloud, and generative AI as top priorities.

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