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Industry Landscape
The AI industry is experiencing rapid growth driven by advancements in generative AI, large language models, and increasing adoption across various sectors. Companies are focusing on AI governance, ethical AI practices, and responsible AI deployment. Partnerships between industry and educational institutions are fostering innovation and talent development. Cloud platforms like AWS, GCP, and Azure are key enablers for AI solutions. Competition is intense with both established players and startups vying for market share. The industry is also navigating evolving regulatory landscapes.
Total Assets Under Management (AUM)
AI Market Revenue in United States
~95 billion USD
(19.5% CAGR)
- Increased AI adoption across industries. - Technological advancements in AI. - Rising investment in AI startups.
Total Addressable Market
200 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Agentic AI
Agentic AI, where AI agents can autonomously perform tasks and make decisions, is transforming workflows and enabling more dynamic and responsive AI applications.
Digital Twins
Digital Twins are creating virtual replicas of physical assets and processes, enabling real-time monitoring, simulation, and optimization in various industries.
Generative AI and LLMs
Generative AI and Large Language Models (LLMs) are advancing rapidly, enabling the creation of new content, automating tasks, and enhancing human creativity across diverse applications.
Impactful Policy Frameworks
AI Bill of Rights
The AI Bill of Rights (2022) is a framework developed by the White House Office of Science and Technology Policy to protect individuals from algorithmic discrimination and ensure responsible AI development and deployment.
Compliance with the AI Bill of Rights will ensure Broadrange AI's solutions are developed and deployed responsibly, building trust with clients and end-users.
NIST AI Risk Management Framework
The NIST AI Risk Management Framework (AI RMF 1.0) (2023) is a resource developed by the National Institute of Standards and Technology to help organizations manage risks associated with AI systems, promoting responsible AI development and deployment.
The NIST AI Risk Management Framework provides Broadrange AI with a structured approach to identify, assess, and manage AI-related risks, enhancing the reliability and trustworthiness of its solutions.
California Privacy Rights Act (CPRA)
The California Privacy Rights Act (CPRA) (2020) amends the California Consumer Privacy Act (CCPA) to provide consumers with additional rights and control over their personal data, impacting how businesses collect, use, and share personal information in California. (effective 2023)
Enforcement of the CPRA will require Broadrange AI to implement robust data privacy practices, safeguarding consumer data and building trust in its AI-powered services.
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