Bringing AI to the World

The global artificial intelligence (AI) market was valued at USD 119.78 billion in 2022 and is expected to grow at a 38.1% compound annual growth rate (CAGR) from 2023 to 2030. This growth is driven by the investments made by tech giants like Amazon, Google, Apple, Facebook, IBM, and Microsoft into research and development of AI. These companies aim to make AI more accessible for enterprise use and improve customer experience. For example, Intel acquired Cnvrg.io in 2020 to boost its AI business, while McDonald's invested USD 300 million in AI start-up Tel Aviv to personalize customer experiences.