Find stats on top websites
Industry Landscape
The AI and Data Science industry is experiencing rapid growth, driven by increasing data volumes, the demand for personalized customer experiences, and the transformative potential of Generative AI. Enterprises are heavily investing in custom solutions to gain actionable insights, automate processes, and enhance digital transformation efforts. Regulatory considerations and ethical AI development are also becoming critical factors.
Total Assets Under Management (AUM)
Artificial Intelligence Market Size in United States
~Roughly 165 billion USD
(37.3% CAGR)
- Driven by increasing adoption across various sectors.
- Significant investment in Generative AI and ML.
- Focus on data analytics and automation solutions.
Total Addressable Market
Roughly 165 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Edge AI
Processing AI models directly on devices at the 'edge' of a network, reducing latency and enhancing data privacy for real-time applications.
Synthetic Data Generation
Creation of artificial data that mimics real-world data's statistical properties without containing sensitive information, crucial for privacy-preserving AI development and testing.
Causal AI
AI systems that understand cause-and-effect relationships, moving beyond correlation to enable more accurate predictions and actionable insights for business decisions.
Impactful Policy Frameworks
American Data Privacy and Protection Act (ADPPA) (Proposed, 2022)
A proposed comprehensive federal privacy bill aiming to establish nationwide data privacy standards, including data minimization, consent requirements, and robust consumer rights.
This would necessitate significant changes to data collection, storage, and processing practices for Skellam AI and its clients, particularly regarding customer data platforms.
National Institute of Standards and Technology (NIST) AI Risk Management Framework (AI RMF 1.0) (2023)
A voluntary framework designed to help organizations manage risks associated with artificial intelligence, promoting trustworthy and responsible AI development and deployment.
Skellam AI will need to integrate this framework into its AI solution development lifecycle to ensure compliance and build client trust in its responsible AI practices.
California Privacy Rights Act (CPRA) (2023)
Expanded upon the California Consumer Privacy Act (CCPA), granting consumers more control over their personal information and establishing the California Privacy Protection Agency (CPPA) for enforcement.
Skellam AI's CDP solutions must be meticulously designed to enable clients to comply with CPRA's stringent consumer rights and data governance requirements for California residents.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
