The global AI market size expected to reach US$298 billion by 2024

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The global AI market size expected to reach US$298 billion by 2024
The global AI market size expected to reach US$298 billion by 2024

Africa-Press – Lesotho. The surge in the AI market is attributed to the escalating demand for cutting-edge solutions that harness the power of machine learning, natural language processing, and other advanced AI technologies.

As businesses increasingly recognize and make use of the transformative capabilities of AI, investments in research and development are expected to soar, contributing to the exponential growth of the market.

According to Invezz. com, the global Artificial Intelligence (AI) market is set to witness an extraordinary growth of 109.56%, surging from a valuation of $136.55 billion in 2022 to an astonishing $298 billion in 2024.

In 2025, the global AI market is forecasted to reach $420 billion, with expectations soaring to a staggering $1.847 trillion by 2030. The key factors driving this phenomenal growth include the integration of AI in diverse sectors such as healthcare, finance, manufacturing, and technology.

AI’s ability to enhance efficiency, automate processes, and provide valuable insights through data analysis has positioned it as a pivotal force in shaping the future of global industries. Harsh Vardhan from Invezz. com commented on the findings:

The projected boom in the global AI market, reaching an estimated $298 billion by 2024 and potentially surging to an astonishing $1.847 trillion by 2030, reflects the seismic shift in industries embracing AI’s transformative potential.

This surge is not just about numbers; it embodies a fundamental shift in business mindsets globally, acknowledging AI as a catalyst for innovation and efficiency across sectors.

The trajectory speaks volumes about AI’s evolution from a buzzword to an indispensable force, driving industries to rethink strategies, adopt advanced technologies, and pave the way for a future where intelligent systems revolutionize global operations and redefine business paradigms.

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