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Generative AI Market Trends

Report ID: GMI6094
Published Date: Jul 2024
Report Format: PDF

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Generative AI Market Trends

Generative AI uses unsupervised learning algorithms for spam detection, image compression, and in the pre-processing data stages such as the removal of noise from visual data to improve picture quality. Image classification and medical imaging both use supervised learning algorithms.

Generative AI has uses in several sectors including BFSI, healthcare, automotive & transportation, IT & telecommunications, as well as media & entertainment. It is a potent tool that can be used to generate new concepts, find solutions to issues, and produce new goods. Generative AI can improve efficiency, save time & money, and improve the quality of content produced by organizations. A few well-known generative AI tools are ChatGPT, GPT-3.5, DALL-E, MidJourney, and Stable Diffusion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of generative AI reached USD 12.1 billion in 2023 and is poised to witness 30% CAGR through 2032, as the technology drive workflow modernization in various industries.

The solution segment held around USD 6.8 billion revenue in 2023, backed by the growing fraudulent activities, the overestimation of capabilities, unexpected outcomes, and rising concerns about data privacy.

North America market was over 30% of the revenue share in 2023, owing to the rise in fake medical care claims and pseudo-imagination as well as increasing banking frauds.

Adobe Inc., Amazon Web Services (AWS), Google LLC (Alphabet Inc.), IBM Corporation, Microsoft Corporation, NVIDIA Corporation, and Autodesk, Inc.