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AI Governance Market Trends

Report ID: GMI6015
Published Date: Jul 2024
Report Format: PDF

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AI Governance Market Trends

Organizations are seeking guidance from AI ethics consulting firms and service providers to navigate the complexities of AI governance. These services encompass ethical AI strategy development, impact assessments, policy designing, and employee training to promote responsible AI practices. AI ethics consultants help organizations establish monitoring and evaluation mechanisms to ensure ongoing compliance with ethical AI practices. This includes setting up systems to track & assess AI system performance, identify potential biases or risks, and continuously improve ethical AI governance over time.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of AI governance reached USD 145.5 million in 2023 and is poised to witness 52.5% CAGR from 2024 to 2032, propelled by the proliferating interest in ethical hacking and penetration testing.

The solution segment is set to expand at 48% CAGR during 2024 to 2032, owing to the increasing implementation of robust frameworks to ensure ethical & responsible AI development and deployment across organizations.

North America held more than 40% of the market share in 2023 and is expected to observe over 50% CAGR through 2032, attributed to the increasing prevalence of cybersecurity risks.

Alphabet Inc., BigID, Capgemini, Deloitte, Everis, EY, Facebook Inc., IBM Corporation, KPMG, Looker, Maxwell IT, Microsoft Corporation, Oracle Corporation, PwC, SAP SE, SAS, Sovrin Foundation, and Stefanini are some of the leading enterprises in the industry.