Here is supporting data to prove this further. The AI market size is projected to expand at a CAGR of 37.3% from 2023 to 2030 and reach $1811.8 billion by 2030. The same research indicates that AI will contribute more than the combined current output of India and China to the international economy by 2030.
The biggest benefactors of this technology are China with an expected boost of 26% to GDP in 2030, followed by North America with a 14.5% boost accounting for almost 70% of the global economic impact! This is a huge number to ignore for any sector or government.
Artificial Intelligence is expected to contribute $15.7 trillion to the global economy by 2030, more than the current output of China and India combined. Having understood the potential of this technology, let us now look at what are the current trends around AI/ML.