Find stats on top websites
Industry Landscape
The Data and AI industry is experiencing rapid growth, driven by advancements in generative AI, large language models, and increasing demand for data-driven solutions. Organizations are heavily investing in AI infrastructure, MLOps, and skilled talent. The market is dynamic, with continuous innovation in tools, platforms, and applications, making conferences like DataCouncil.ai crucial for knowledge exchange and networking.
Total Assets Under Management (AUM)
Artificial Intelligence Market Size in United States
~320.5 billion USD
(37.3% CAGR)
This growth is fueled by:
- Increasing adoption of AI in various industries.
- Significant investments in AI research and development.
- Proliferation of AI-powered applications and services.
Total Addressable Market
320.5 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Multimodal AI
Multimodal AI systems, capable of processing and understanding multiple data types like text, images, and audio, are expanding AI's capabilities and applications across industries.
Edge AI
Edge AI, where AI computations are performed directly on devices at the network edge rather than in the cloud, is enabling real-time processing and enhanced privacy for AI applications.
AI Ethics and Governance Tools
Development of tools and frameworks for explainable AI (XAI), fairness, privacy-preserving AI, and model governance is crucial for responsible and trustworthy AI deployment.
Impactful Policy Frameworks
Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (2023)
This comprehensive U.S. Executive Order, signed in October 2023, directs federal agencies to establish new standards for AI safety, security, and innovation, covering areas from responsible AI development to protecting American jobs.
This policy will likely increase demand for AI governance tools and expertise, influencing research and development priorities for AI companies and data professionals.
National Artificial Intelligence Initiative Act of 2020 (Updated)
The NAII Act formally establishes and coordinates a national AI research and development strategy, promoting interagency collaboration and investment in AI innovation and workforce development.
This act boosts federal funding for AI research and education, creating more opportunities for collaboration between academia, government, and industry, and influencing talent development.
AI Risk Management Framework (AI RMF 1.0) by NIST (2023)
Published by the National Institute of Standards and Technology (NIST) in January 2023, the AI RMF provides voluntary guidance for organizations to manage risks associated with AI, emphasizing trustworthy and responsible AI development.
This framework influences how companies design, develop, and deploy AI systems, potentially increasing the need for compliance and risk management solutions within AI product development.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
