Overview and Scope
Artificial intelligence (AI) governance refers to the framework of policies, procedures, and practices put in place to ensure responsible and ethical development, deployment, and use of AI technologies. AI governance aims to establish guidelines and mechanisms to govern the lifecycle of AI systems, from data collection and model training to deployment and ongoing monitoring, with the goal of maximizing the benefits of AI while minimizing potential risks and ensuring ethical use.
Sizing and Forecast
The AI governance market size has grown exponentially in recent years. It will grow from $0.2 billion in 2023 to $0.29 billion in 2024 at a compound annual growth rate (CAGR) of 45.1%. The growth in the historic period can be attributed to growing demand for transparency and trust in ai systems, increasing easy access to historical datasets and convenience of data storage, proliferating interest in ethical hacking and penetration testing.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/ai-governance-global-market-report
Segmentation & Regional Insights
The ai governance market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Type : On-Premises, Cloud
3) By Organization Size: Large Enterprise, Small And Medium-sized Enterprises(SMEs)
4) By Vertical: Banking, Financial Services, and Insurance(BFSI), Government And Defense, Healthcare And Life Sciences, Media And Entertainment, Retail, Information Technology And Telecommunication, Automotive, Others Verticals
North America was the largest region in the AI governance market in 2023. The regions covered in the ai governance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13773&type=smp
Major Driver Impacting Market Growth
An increase in government initiatives to leverage artificial intelligence (AI) technology is expected to propel the growth of the artificial intelligence (AI) governance market going forward. A government initiative is an important act or statement that a government undertakes to address a specific issue or challenge. Government initiatives are used to shape the governance of AI by providing the framework and guidance needed to ensure that AI technologies are developed and used in ways that benefit society while minimizing risks and potential harms. For instance, in June 2023, the Ministry of Innovation, Science, and Industry, a Canada-based government agency, initiated the second phase of the Pan-Canadian artificial intelligence program. Further, this rollout is supported by a substantial investment exceeding US$ 443 million, underscoring the government’s commitment to enhance the integration and commercialization of AI across various sectors of the country’s economy. Therefore, the increase in government initiatives to leverage AI technology is driving the growth of the artificial intelligence (AI) governance market.
Key Industry Players
Major companies operating in the ai governance market report are Amazon.com Inc., Alphabet Inc., Google LLC, Microsoft Corporation, Robert Bosch GmbH, International Business Machines Corporation, Oracle Corporation, SAP SE, ABB Ltd., Tata Consultancy Services Limited, DXC Technology Company, Atos S.E., McAfee Corp., AVEVA Group plc, TIBCO Software Inc., Hexaware Technologies Limited, QlikTech International AB, Altair Engineering Inc., Scale AI Inc., Arthur, MOSTLY AI, Protopia AI, Impact AI, H2O.ai, Credo.AI Corp.
The ai governance market report table of contents includes:
.
.
.
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Overview and Scope Nail care products refer to a variety of cosmetics and tools designed…
Overview and Scope Livestock identification refers to the process of uniquely identifying individual animals or…
Overview and Scope Healthcare gamification refers to the incorporation of game elements, such as competition,…
Overview and Scope Electronic design automation (EDA) refers to a category of software tools that…
Overview and Scope Medical image management encompasses the efficient handling and organization of diverse medical…
Overview and Scope Insolvency software refers to specialized tools and applications to assist businesses, financial…