Global AI Governance Market
The GMI Research forecasts that the AI Governance Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the initiatives taken by government authorities in strong support of AI technology and growing demand in each industry.
Introduction of the AI Governance Market
AI Governance is the concept of legal structure, which ensures the fair and ethical use of artificial intelligence. The acceptance of solutions minimizes the gap between accountability and ethics in sophisticated technologies, resulting from the chances of violation of laws while working with the surrounding.
Key Players of the Global AI Governance Market:
- IBM Corporation
- SAP SE
- com, Inc.
- SAS Institute
- FICO Inc.
- Pymetrics Inc.
- Microsoft Corporation
- ai, Inc.
- Alphabet Inc.
AI Governance Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The prominent drivers contributing to the growth of the global AI Governance Market include the augmenting application of these technologies across various segments to mechanize industrial processes to curb the production cost, enhance decision making and offer support against high opposition. Several tools, which include machine learning models and algorithms, are progressively implemented across these important processes, thereby supplementing the market growth.
Furthermore, the intensifying initiatives by the government to encourage the endorsement of technology is another factor strengthening the market size. The United States government is proactively adopting measures for AI Governance and revealed the execution of AI ethical principles in line with the Department of Defense’s strategy aim, thereby allowing the lawful and ethical use of systems by the US military and associated industries, which is contributing to the market growth. On the other hand, the inception of comprehensive ethical principles will hamper market growth.
Component Segment Drivers
Based on the component, solutions will expand at a faster rate in the near future. This is mainly because they allow developers to supervise and develop the ML algorithm to evade undesirable outcomes. Their increasing endorsement by governments led by the rising need to defend privacy and civil authorities and build confidence and trust among people further supplements the market growth.
Vertical Segment Drivers
Based on the vertical, healthcare is contemplated to experience a higher CAGR in the near future. The governance of artificial intelligence helped to bring and manage opacity in personal health information. Ethical assessment and usage rules decide to what extent patients are informed about the diagnosis and treatment. Modernizations in artificial intelligence technology for medical imaging in treatment have further raised the market growth.
Regional Drivers
Based on the regional coverage, North America is forecasted to grow at a significant rate owing to the huge acquisition of the technology in the US and Canada. The U.S. National AI R&D Plan in 2019 advised the development of an AI R&D operation framework to assist businesses across the nation merge ethical factors into the R&D without conceding on public commitment, and also to find the solution of how to market one’s organization better.
AI Governance Market Segmentation:
Segmentation by Component
- Solutions
- Services
Segmentation by Deployment
- On-Premises
- Cloud
Segmentation by Vertical
- Healthcare
- Government and Defense
- Automotive
- Retail
- BFSI
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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