AI-powered L&D is a revenue generator, report says

For HR leaders and L&D teams, it can be challenging to justify and establish training budgets without an obvious return on investment.

TrainingIndustry.com, which uses data from the U.S. Bureau of Economic Analysis, found that organizations spent $366.2 billion globally on training in 2018. Training Industry estimates that “companies spend an average of 39% of their training budget on external (outsourced) suppliers, while approximately 61% of their budgets is spent on internal resources.”

And, corporations in North America paid approximately $65.9 billion in 2018 in reimbursements for outsourced market for training services and tuition, “while the insourced spend for training activities was approximately $101.0 [billion] in 2018,” according to the report.

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