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Industry Landscape
The technology consulting industry is experiencing rapid growth, primarily driven by the increasing adoption of AI, cloud computing, and digital transformation initiatives across all sectors. Generative AI is emerging as a significant disruptor, creating new opportunities for efficiency and innovation. Companies are increasingly seeking external expertise to navigate complex technological landscapes, modernize legacy systems, and leverage data for competitive advantage.
Total Assets Under Management (AUM)
IT Services Market Size in United States
~$514.8 Billion (2023)
(7.3% CAGR)
• Driven by strong demand for digital transformation.
• Cloud and cybersecurity services are key growth areas.
• AI integration is rapidly expanding the market.
Total Addressable Market
$514.8 Billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI (GenAI)
GenAI will revolutionize content creation, code generation, and complex data analysis, dramatically increasing efficiency and enabling new service offerings in consulting.
Edge AI
Edge AI will enable real-time data processing and AI model deployment closer to the data source, critical for industries like manufacturing and healthcare, reducing latency and enhancing privacy.
Quantum Computing
Though nascent, quantum computing promises to solve currently intractable problems in optimization, cryptography, and drug discovery, potentially creating entirely new consulting service lines focused on quantum algorithm development and integration.
Impactful Policy Frameworks
AI Risk Management Framework (AI RMF 1.0) (2023)
Developed by the National Institute of Standards and Technology (NIST), this framework provides voluntary guidance for managing risks associated with artificial intelligence, aiming to foster trustworthy and responsible AI development and use.
This framework encourages Altysys and its clients to adopt best practices for AI governance, ensuring ethical and safe deployment, which can become a competitive differentiator.
Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (2023)
Issued by President Biden, this comprehensive executive order directs various federal agencies to establish new standards for AI safety and security, protect privacy, promote innovation, and ensure responsible AI use.
Altysys will need to help clients navigate stricter AI development and deployment guidelines, particularly concerning data privacy, security, and potential biases, creating opportunities for compliance and ethical AI consulting.
Health Insurance Portability and Accountability Act (HIPAA) (Amended, ongoing enforcement)
While not new, ongoing enforcement and interpretations of HIPAA, especially concerning data privacy and security in healthcare, significantly impact how AI and data analytics can be deployed with sensitive patient information.
Altysys must ensure all healthcare solutions rigorously adhere to HIPAA compliance for patient data protection, offering specialized expertise in secure data handling and analytics within the medical domain.
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