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Global AI Governance Market By Component (Solutions, Services), Technology (Computer Vision, Machine Learning, Natural Language Processing, Others), Function (Training, Inference) Deployment Type (On-Premises, Cloud, Hybrid), Vertical (BFSI, Healthcare and Life Sciences, Government and Defence, Media and Entertainment, Telecom, Retail, Automotive, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global AI Governance Market
Global AI governance market is growing at a healthy CAGR of 33.7% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026. Increasing government initiatives to leverage artificial intelligence technology benefits is the major factor for the growth of this market.
Market Definition: Global AI Governance Market
AI governance is the concept that a legal framework should be in place to ensure that machine learning (ML) techniques are well studied and created to help humanity operate reasonably through the implementation of AI systems. Addressing problems related to the right to be notified and possible violations, AI governance seeks to close the gulf in technological development between accountability and ethics.
- Increasing government initiatives to leverage artificial intelligence technology benefits is boosting this market growth
- Increasing need for building trust in artificial intelligence systems and growing demand for transparency in artificial intelligence decisions also acts as a market driver
- Growing compliance with regulations around technology drives this market growth
- Reduction of gender bias and discrimination by using artificial intelligence accelerates this market growth
- Establishing comprehensive ethical principles for artificial intelligence restricts this market growth
- High investment cost hampers the growth of this market
- Insufficient expertise and skills in artificial intelligence also acts as a market restraint
Segmentation: Global AI Governance Market
- Software Tools
- Support and Maintenance
- Computer Vision
- Machine Learning
- Natural Language Processing
- Banking, Financial Services, and Insurance (BFSI)
- Government and Defense
- Healthcare and Life Sciences
- Media and Entertainment
Key Developments in the Market:
- In August 2019, Microsoft has announced Digital Governance Tech Tour, which will help to accelerate the digital India initiative. The project includes a number of physical and virtual sessions and aims at training 5,000 staff over a 12-month span. This program includes delivery of AI and intelligent cloud computing skills to government officials across entire country
- In September 2018, IBM Corporation has introduced AI Fairness 360 (AIF360), which is an extensive open-source toolkit for unwanted bias in datasets and machine learning designs and state-of – the-art algorithms for mitigating such bias. This version of the AIF360 Python suite includes nine distinct algorithms created by the wider research community on fairness to mitigate this unwanted bias. This product launch helps the company to attract researchers from around the world to use this toolkit
Global AI governance market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of aerial imaging market for Global, Europe, North America, Asia-Pacific and South America.
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Major Market Competitors/Players
Few of the major competitors currently working in the global AI governance market are IBM Corporation, Google, Microsoft, Facebook, SAP SE, Salesforce.com, Inc., Fair Isaac Corporation, BoardBookit, Inc., Intel Corporation, NVIDIA Corporation, Anki, AIBrain Inc., Banjo, Apple Inc., Amazon.com, Inc., Appier Inc., SenseTime, Kindred, Inc., OrCam among others.
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