AI Governance - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global AI Governance Market is accounted for $34.85 million in 2019 and is expected to reach $585.98 million by 2027 growing at a CAGR of 42.3% during the forecast period. Increasing government initiatives to leverage the AI technology, and growing regulatory compliances around the technology are some of the elements propelling the market growth. However, establishing comprehensive ethical principles for AI is hampering the market growth.
AI governance encompasses the policies and the legal actions in order to design, develop; supervise algorithms and models of machine learning (ML). The management needs to focus the attention on transparent, ethical and accountable usage of the AI systems, which in turn will result in enhancing the outcomes and measures maximum optimization of AI technology. The AI governance broadly finds its applicability in the process of decision making, logistic computations, and others.
Based on the component, the services segment is likely to have a huge demand due to implementing platforms and executing activities related to it. These services include integration, consulting, and support and maintenance, which are necessary to deploy, execute, and maintain AI governance solutions. They help in building strategic and operational plan to identify the effective way to achieve business goals.
By geography, Europe is going to have a lucrative growth during the forecast period due to the implementation of AI-powered services is likely to grow in the region, due to the mounting ethical issues across AI technology and growing need to build legal framework to ensure the ML algorithm is developed for the good cause of humanity.
Some of the key players profiled in the AI Governance Market include IBM, ZestFinance, and 2021.AI, Pymetrics, SAS Institute, H2O.AI, Integrate.AI, Google, Microsoft, Facebook, SAP, Salesforce.Com, Fico and AWS.
• Natural Language Processing
• Machine Learning
• Computer Vision
Deployment Types Covered:
End Users Covered:
• Government and Defense
• Healthcare and Life Sciences
• Media and Entertainment
• Banking Financial Services and Insurance (BFSI)
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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