Releases of consumer-focused artificial intelligence tools like ChatGPT and Google’s Bard accelerate decade-long boom, growing generative AI market revenue from $40 billion last year to an estimated $1.3 trillion by 2032 will let you
The sector could grow at a rate of 42% over the next decade, according to a new report by Bloomberg Intelligence analysts. Demand for the infrastructure needed to train AI systems will drive first, followed by demand for devices that use AI models, advertising and other services, according to a new report by Bloomberg Intelligence analysts. Led by Mandeep Singh.
“The world will witness explosive growth in the generative AI sector over the next decade, fundamentally changing the way the technology sector operates,” Singh said in a statement Thursday. “This technology will become an increasingly important part of IT spending, advertising spending and cybersecurity as it develops.”
Since the launch of ChatGPT late last year, demand for generative AI has skyrocketed around the world, and the technology is poised to disrupt everything from customer service to banking. It uses massive data samples, often collected from the Internet, to learn how to respond to prompts, create lifelike images, and answer questions as if they were from a real person. so that you can
Amazon.com’s cloud division, Google parent Alphabet, Nvidia, and Microsoft, which has invested billions in OpenAI, are likely to be the biggest winners of the AI boom, according to the report. .
Bloomberg Intelligence forecasts that the biggest driver of revenue growth from generative AI will be demand for the infrastructure needed to train AI models, reaching an estimated $247 billion by 2032. AI-assisted digital advertising business expected to reach $192 billion Annual revenue could reach $134 billion by 2032, according to report.
Investors, meanwhile, took a break from their obsession with AI in general on Thursday. Software firm C3.ai is down as much as 24% in New York, widening Wednesday’s 9% decline after a disappointing sales outlook.
Chipmaker Nvidia, which has emerged as Wall Street’s biggest AI investment, resumed its rally, gaining 3.3%. The company’s stock has soared 28% since May 24, with its Silicon Valley valuation briefly hitting $1 trillion this week.
