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Industry Landscape
The AI software industry is experiencing rapid growth, driven by advancements in machine learning and the increasing demand for data-driven insights. It's becoming integral across all business functions, with a strong emphasis on leveraging unstructured data for decision-making and efficiency gains. Security and ethical AI remain key considerations for adoption, particularly in enterprise settings.
Total Assets Under Management (AUM)
AI Software Market Size in United States
~Undisclosed
(38.1% CAGR)
- AI software market is growing rapidly.
- Driven by enterprise adoption of AI solutions.
- Focus on automation, insights, and efficiency.
Total Addressable Market
Undisclosed
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI for Advanced Content Creation
Generative AI is evolving beyond basic text generation to create complex reports, marketing copy, and even code from unstructured data, significantly boosting content creation efficiency.
Multimodal AI
This technology allows AI models to process and understand information from multiple modalities like text, images, audio, and video simultaneously, enabling richer insights from diverse data sources.
Federated Learning
Federated Learning enables AI models to train on decentralized datasets located at the source, enhancing data privacy and security while improving model performance without centralizing sensitive information.
Impactful Policy Frameworks
NIST AI Risk Management Framework (AI RMF 1.0) 2023
The National Institute of Standards and Technology (NIST) published a framework to manage risks associated with artificial intelligence, providing a structured approach for organizations to incorporate trustworthy AI principles.
It will likely drive businesses to adopt more rigorous internal AI governance and risk assessment practices, affecting development and deployment strategies for AI software companies.
Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (October 2023)
President Biden issued a comprehensive executive order directing federal agencies to set new standards for AI safety and security, protect privacy, advance equity and civil rights, and promote innovation.
This order will compel AI software providers to prioritize safety, transparency, and data privacy in their AI development and deployment, potentially increasing compliance costs but also building user trust.
California Privacy Rights Act (CPRA) 2023
Effective January 1, 2023, the CPRA expanded on the California Consumer Privacy Act (CCPA), granting consumers more control over their personal data and establishing the California Privacy Protection Agency (CPPA).
AI software companies processing Californian user data must implement stricter data handling practices, enhance data security, and provide greater transparency regarding data collection and usage, affecting data management strategies.
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