Artificial Intelligence and Machine Learning are incredibly powerful, and have limitless potential to revolutionize every industry present today.
The artificial intelligence (AI) sector contributes to the development of technologies to improve business operations and customer experience. Some notable AI-powered solutions include industries such as automotive, healthcare, retail, finance, and manufacturing.
In 2020, the global AI economy was over $35.92 billion, with North America dominating the market with its 40.0% revenue share. The advertising and media segment accounted for the highest market share of 18%, followed by healthcare and retail.
BCM forecasts the AI market to reach $360.36 billion by 2028, at a CAGR of 15.83% during the forecast period of 2021-2028. We believe that the increasing technological advancements in AI will transform entire industries and the economy, paving wide avenues for growth and innovation.