Artificial Intelligence (AI), which includes Machine Learning (ML) and Deep Learning (DL), is rapidly transforming a wide range of industries and applications, resulting in significant expected growth in the AI market in the coming years.

Generative AI (GenAI) is a powerful, new type of AI that can create new content, such as text, images, audio, and Video. It does this by learning patterns from existing data and then using this knowledge to generate new and unique outputs. GenAI can produce highly realistic and complex content that mimics human creativity, making it a valuable tool for many industries, such as gaming, entertainment, and product design. As it continues to develop, with even more innovative and groundbreaking applications, it can revolutionize many industries and aspects of our lives.

Recent breakthroughs in the field, such as DALL-E 2 and GPT-3, have significantly advanced the capabilities of GenAI. For instance, DALL-E 2 can generate realistic images from text descriptions, and GPT-3 can generate text indistinguishable from human-written text.

Statista projects that the global AI market will reach US$241.80 billion in 2023 and is expected to grow at a CAGR of 17.30% from 2023 to 2030, resulting in a market volume of US$738.80 billion by 2030.

The key growth drivers of the AI market include:

  • Greater adoption of AI technologies across industries, such as healthcare, manufacturing, retail, and finance
  • Innovations in AI algorithms and infrastructure
  • Growing investment in AI research and development.

Some of the key trends in the AI market include:

  • The increasing use of AI in edge computing brings AI capabilities closer to generated data.
  • The growing adoption of AI in consumer-facing applications, such as virtual assistants and chatbots.

Prominent AI providers include AMD, Amazon Web Services, Lenovo, Dell, HPE, Google, Intel, Microsoft, NVIDIA, Oracle, IBM, Salesforce, and Others.

Cabot Partners provides customized strategic advisory services for AI/ML/DL to:

  • IT Solution Providers: Help build and grow desired revenue and profitability of their AI platforms by delivering white papers, market/competitive/quantitative assessments, Total Value of Ownership (TVO) Studies, 3D animation videos, webinars, solution briefs, eBooks…etc.
  • Enterprises: Help navigate the complexities of the technology landscape, gain competitive advantage, and optimize their AI initiatives.

Here are some examples:

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