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AI Governance Market
AI Governance Market
The global AI Governance Market is likely to exhibit an annual rate of 65.2% over the forecast period. The intensified initiatives by government authority and the surging demand for AI system in each industry vertical has strengthened the AI governance market size.
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AI Governance Market Dynamics
The AI Governance market has expanded at a significant rate because of the increasing application of artificial intelligence across several segments to automate the industrial processes, reduce the production cost, enhance decision making process, and offer assistance despite of high opposition. The technology also helps with administrative needs because of the substantial increase in implementation of AI tools. Several tools such as algorithm and machine learning models have become important in these processes, resulting in AI governance market growth. The intensified initiatives enforced by the government to leverage AI technology have helped in market expansion. For example, the United States Government has adopted several measures for AI Governance. The government divulged that the enforcement of AI ethical principles matched with the department of Defense’s AI aspiration, thereby allowing the lawful and ethical usage of AI systems by the US military and related industries, which has helped the market to gain immense prominence. Furthermore, there has been an increase in the application of AI technologies around many segments in a bid to automate various industrial processes, which would reduce the cost of manufacturing, accelerate efficient decision making, and offer upper hand over in the face of high opposition. AI technology helps in fulfilling administrative needs because of a remarkable surge in enforcement of AI tools among different companies. Several AI tools like machine learning models and algorithms have gained immense prominence in these processes, leading to the expansion of the market.
Regional Drivers
Based on the regional coverage, the North America region is expected to expand at a faster rate over the forecast period. As per the AI governance market research, the increasing adoption of the technology in the US and Canada has strengthened the market growth. For instance, the U.S. National AI Research & Development Plan in 2019 declared the development of an AI R&D operational structure that helps businesses across the countryside incorporate ethical factors into the R&D, without acknowledging on public commitment.
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