Artificial Intelligence (AI) Market: Projected Growth to USD 3,696.59 Billion by 2034

Price- USD 1550, According to Statifacts, The global artificial intelligence (AI) market size is calculated at USD 638.32 billion in 2024 and is predicted to reach around USD 3,696.59 billion by 2034, expanding at a CAGR of 19.2% from 2024 to 2034. The continuous research and innovation directed by tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing.

For instance, in December 2023, Google LLC launched 'Gemini,' a large language AI model, made available in three sizes, namely, Gemini Nano, Gemini Pro, and Gemini Ultra. Gemini stands out from its competitors due to its native multimodal characteristic.

𝐕𝐢𝐞𝐰 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐃𝐚𝐭𝐚𝐬𝐞𝐭@ https://www.statifacts.com/outlook/artificial-intelligence-market

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

AI has proven to be a significant revolutionary element of the upcoming digital era. Tech giants like Amazon.com, Inc.; Google LLC; Apple Inc.; Facebook; International Business Machines Corporation; and Microsoft are investing significantly in research and development (R&D) of AI, thus increasing the artificial intelligence market cap. These companies are working to make AI more accessible for enterprise use cases. Moreover, various companies adopt AI technology to provide a better customer experience and improve their presence in the artificial intelligence industry 4.0.

𝐑𝐨𝐥𝐞 𝐨𝐟 𝐃𝐚𝐭𝐚 𝐀𝐜𝐜𝐞𝐬𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐢𝐧 𝐀𝐈 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭

The essential factor accelerating the rate of innovation in AI is accessibility to historical datasets. Since data storage and recovery have become more economical, healthcare institutions and government agencies are building unstructured data accessible to the research domain. Researchers are gaining access to rich datasets, from historic rain trends to clinical imaging. The next-generation computing architectures, with access to rich datasets, are encouraging information scientists and researchers to innovate faster.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐞𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐯𝐢𝐚 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤@ https://www.statifacts.com/download-product/7728

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐃𝐞𝐞𝐩 𝐋𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐚𝐧𝐝 𝐍𝐞𝐮𝐫𝐚𝐥 𝐍𝐞𝐭𝐰𝐨𝐫𝐤𝐬

Progress in deep learning and Artificial Neural Networks (ANN) has also fueled the adoption of AI in several industries, such as aerospace, healthcare, manufacturing, and automotive. ANN works in recognizing similar patterns and helps in providing modified solutions. Tech companies like Google Maps have been adopting ANN to improve their route and work on feedback received using ANN. ANN is substituting conventional machine learning systems to evolve precise and accurate versions.

𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐀𝐈 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬

Recent advancements in computer vision technology, such as Generative Adversarial Networks (GAN) and Single Shot MultiBox Detector (SSD), have led to digital image processing techniques. For instance, images and videos taken in low light or low resolution can be transformed into HD quality by employing these techniques. Continuous research in computer vision has built the foundation for digital image processing in security & surveillance, healthcare, and transportation, among other sectors. Such emerging methods in machine learning are anticipated to alter the manner AI versions are trained and deployed.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐀𝐈 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

The COVID-19 outbreak stimulated market growth of next-generation tech domains, including artificial intelligence, owing to mandated work-from-home (WFH) policies due to the pandemic. For instance, LogMeIn, Inc., a U.S.-based company that provides Software-as-a-Service (SaaS) and cloud-based customer engagement and remote connectivity & collaboration services, experienced a significant increase in new sign-ups across its product portfolios amid the pandemic.

𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐀𝐈 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬 𝐚𝐧𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬

Tech companies are expanding their product offerings and services to widen availability across the globe. For instance, in July 2022, Clarifai announced the launch of its 'Clarifai Community' free service for enabling everyone to share, create, and use The World's AI. Moreover, it also announced the development of the 'AI Lake' product category, which collects and centralizes every AI resource of an enterprise and offers tools for sharing across the enterprise.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐀𝐈 𝐌𝐚𝐫𝐤𝐞𝐭

In August 2023, HCLTech announced a collaboration with Amazon Web Services (AWS) to push the adoption of generative Artificial Intelligence (GenAI) at the company and by enterprises globally. The collaboration aims to empower enterprises to leverage the power of AWS' advanced GenAI portfolio which includes Amazon CodeWhisperer, Amazon Bedrock, Amazon Titan, AWS Trainium, and AWS Inferentia.

In September 2023, Amazon and Anthropic announced a strategic collaboration that will bring together their respective industry-leading technology and expertise in safer generative artificial intelligence (AI) to accelerate the development of Anthropic's future foundation models and make them widely accessible to AWS customers.

In August 2023, IBM expanded its collaboration with Microsoft to help joint clients accelerate the deployment of generative AI and deliver a new offering that will provide clients with the expertise and technology they need to innovate their business processes and scale generative AI effectively.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐋𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐢𝐧 𝐀𝐈 𝐌𝐚𝐫𝐤𝐞𝐭

In May 2021, IBM Corporation introduced advances in artificial intelligence (AI), hybrid cloud, and quantum computing at the company. The innovation helps its clients and partners to accelerate their digital transformations, return to work smarter, and build strategic ecosystems that can drive better business outcomes.

In March 2023, Google launched Bard, an AI chatbot designed to compete with OpenAI's ChatGPT and Microsoft's chatbot in their Bing search engine.

In May 2021, Google LLC introduced Vertex AI, a managed machine learning (ML) platform that allows companies to accelerate the deployment and maintenance of artificial intelligence (AI) models. Vertex AI requires nearly 80% fewer lines of code to train a model versus competitive platforms, enabling data scientists and ML engineers across all levels of expertise the ability to implement Machine Learning Operations (MLOps) to efficiently build and manage ML projects throughout the entire development lifecycle.

𝐀𝐫𝐭𝐢𝐟𝐢𝐜𝐢𝐚𝐥 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 (𝐀𝐈) 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

Intel Corporation
Microsoft
IBM
Google
Amazon Web Services
Baidu, Inc.
NVIDIA Corporation
H2O.ai.
Lifegraph
Sensely, Inc.
Enlitic, Inc.
AiCure
HyperVerge, Inc.
Arm Limited
Clarifai, Inc.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

𝐎𝐩𝐭𝐢𝐜𝐚𝐥 𝐍𝐞𝐭𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.statifacts.com/outlook/optical-networking-market

𝗢𝗻-𝘀𝗵𝗲𝗹𝗳 𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗺𝗮𝗿𝗸𝗲𝘁: https://www.statifacts.com/outlook/on-shelf-availability-solution-market

𝗠𝗶𝗰𝗿𝗼𝗯𝗶𝗮𝗹 𝗙𝗼𝗼𝗱 𝗖𝘂𝗹𝘁𝘂𝗿𝗲 𝗠𝗮𝗿𝗸𝗲𝘁: https://www.statifacts.com/outlook/microbial-food-culture-market

𝗜𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝘁 𝗧𝗿𝗮𝗻𝘀𝗽𝗼𝗿𝘁 𝗦𝘆𝘀𝘁𝗲𝗺 𝗠𝗮𝗿𝗸𝗲𝘁: https://www.statifacts.com/outlook/intelligent-transport-system-market

𝗙𝗼𝗼𝗱 𝗟𝗶𝗻𝗲𝗿 𝗣𝗮𝗽𝗲𝗿 𝗠𝗮𝗿𝗸𝗲𝘁: https://www.statifacts.com/outlook/food-liner-paper-market

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𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐃𝐚𝐭𝐚𝐛𝐨𝐨𝐤@ https://www.statifacts.com/order-report/7728

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sales@statifacts.com

Statifacts offers subscription services for data and analytics insights. This page provides options to explore and purchase a subscription tailored to your needs, granting access to valuable statistical resources and tools. Access here - https://www.statifacts.com/get-a-subscription

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐃𝐚𝐭𝐚𝐛𝐨𝐨𝐤@ https://www.statifacts.com/order-report/7728

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