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Industry Landscape
The AI consulting and development industry is experiencing rapid growth, driven by increasing enterprise demand for digital transformation, automation, and data-driven insights. Generative AI, blockchain, and IoT are key areas of innovation, pushing companies to seek specialized expertise for custom solutions. Competition is intense from both large consultancies and niche providers.
Total Assets Under Management (AUM)
Artificial Intelligence Market Size in United States
~Approximately 120 billion USD
(37.3% CAGR)
• Driven by increased adoption across industries.
• Fueled by advancements in GenAI and Machine Learning.
• Strong investment in R&D and strategic partnerships.
Total Addressable Market
1.39 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI Specialization
Deepening expertise in Generative AI for niche industry applications will unlock highly customized, efficient, and innovative solutions across diverse sectors.
Edge AI and IoT Integration
Combining Edge AI with IoT will enable real-time data processing and decision-making directly at the source, leading to more responsive and intelligent systems in industrial and consumer settings.
Decentralized AI (DeAI)
Leveraging blockchain and Web3 principles for AI development will promote transparent, secure, and collaborative AI models, addressing data privacy and trust concerns.
Impactful Policy Frameworks
AI Risk Management Framework (AI RMF) 2023
Developed by the National Institute of Standards and Technology (NIST), the AI RMF 2023 provides voluntary guidance for organizations to manage risks associated with AI, emphasizing trustworthy and responsible AI development and deployment.
This framework encourages companies like LeewayHertz to embed ethical considerations and risk mitigation strategies into their AI development processes, potentially increasing development costs but building greater client trust.
Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (October 2023)
This comprehensive US Executive Order outlines new standards for AI safety and security, protecting Americans' privacy, promoting innovation and competition, advancing equity and civil rights, and managing AI's societal risks.
This policy mandates new testing and reporting requirements for powerful AI systems, influencing LeewayHertz's development methodologies and potentially increasing compliance efforts for their enterprise AI solutions.
SEC Staff Accounting Bulletin No. 121 (SAB 121) on Crypto Asset Safeguarding (March 2022)
While not directly an AI policy, SAB 121 from the U.S. Securities and Exchange Commission advises public companies to account for obligations to safeguard crypto assets held for customers as liabilities, reflecting the volatile nature of Web3 assets.
This bulletin impacts LeewayHertz's financial services clients dealing with crypto assets and Web3 solutions, potentially increasing the regulatory scrutiny and compliance burden for their blockchain and crypto wallet development services.
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