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Industry Landscape
The AI consulting and solutions industry is experiencing rapid growth driven by businesses seeking to leverage AI for efficiency, innovation, and competitive advantage. Key trends include the adoption of Generative AI, LLMs, and the increasing demand for responsible and ethical AI frameworks. Companies are investing in strategic roadmapping, bespoke AI solutions, and workforce training to navigate complex implementations and ensure ROI.
Total Assets Under Management (AUM)
AI Services Market Size in United States
~$32.93 Billion (2023)
(29.9% CAGR)
Growth is fueled by increasing demand for AI integration across sectors, rising need for AI consulting services, and investment in AI platforms and solutions. Focus on generative AI, machine learning, and automation contributes significantly.
Total Addressable Market
Approximately $250-300 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Agentic AI Orchestration
This involves developing sophisticated frameworks to manage and coordinate multiple autonomous AI agents, enabling complex task execution and dynamic problem-solving across enterprise systems.
Federated Learning for AI Governance
Decentralized machine learning training where models learn from data distributed across various devices or organizations without centralizing raw data, enhancing privacy and compliance in AI deployments.
Neuromorphic Computing
Hardware and software systems designed to mimic the human brain's structure and function, offering ultra-low power and high-speed processing capabilities for AI, especially at the edge.
Impactful Policy Frameworks
Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (October 2023)
This broad U.S. executive order establishes new standards for AI safety and security, protects privacy, promotes equity and civil rights, stands up for consumers, workers, and competition, advances American leadership in AI, and fosters international collaboration.
This order directly impacts Broadrange AI by mandating adherence to new safety and security standards, emphasizing responsible AI development, and potentially increasing the demand for their governance and compliance services.
National Institute of Standards and Technology (NIST) AI Risk Management Framework (AI RMF 1.0) (January 2023)
NIST released a voluntary framework to help organizations manage risks associated with AI, providing guidance for AI design, development, deployment, and use, focusing on trustworthiness.
The NIST AI RMF provides a critical framework for Broadrange AI to align their Enterprise AI Governance services, giving them a standardized approach to help clients manage AI risks and demonstrate compliance.
Artificial Intelligence Act (EU AI Act) (Final approval expected 2024)
Although an EU regulation, the AI Act proposes a comprehensive legal framework for AI, categorizing AI systems by risk level and imposing strict requirements for high-risk AI, with extraterritorial reach impacting global companies operating in the EU.
While not a US policy, the EU AI Act's comprehensive nature and potential extraterritorial reach mean Broadrange AI's US-based clients, especially those with international operations, will increasingly seek compliance solutions from providers like Broadrange AI to navigate these stringent global regulations.
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