Thursday 13 June 2024

Global AI economy set to top $34 trillion by 2027

LONDON, September 5, 2023

The global AI economy is expected to surpass $34 trillion by 2027, up from $20 trillion in 2023, according to a new report from AI Industry Analytics (AiiA), a specialised subsidiary of Deep Knowledge Group focused on market intelligence and analysis of the AI industry. 
The report provides clear indication that the global AI economy is poised for substantial and dynamic growth in the coming years, and that current AI industry stakeholders are working in an unprecedented period of opportunity in terms of AI impact on the global economy.
Leveraging AiiA's advanced analytics capabilities, the  first-of-its-kind comprehensive assessment of the Global AI Economy provides an understanding of the rapidly evolving AI landscape, delivering quantitative, tangible insights to industry stakeholders and decision-makers.
AiiA conducted a comprehensive and realistic assessment, which includes publicly-traded corporations, private companies, investors, hubs and government-funded projects, as outlined in its detailed report and associated Data Analytics Platform. This approach allows for a more pragmatic assessment of the true impact of AI on the global economy, and a more data-driven understanding of the actual size of the global AI industry, it said.
To develop these estimates, AiiA utilized AI algorithms to map the entire global AI market, profiling 50,000 companies, 20,000 investors, 2,000 AI leaders, 2,500 R&D hubs, and 300 government organisations by adapting, retuning and building upon techniques and analytical frameworks previously developed by Deep Knowledge Group for its assessments of AI’s impact in multiple industrial and regional domains. Having developed the methodological foundations for these analyses over the past decade, and having further refined their application to specific AI industrial domains over the past five years, the Group found itself uniquely equipped in 2023 to turn its attention to dedicated AI Industry analytics, it said.
“This first iteration in an ongoing series of Global AI Economy Size Assessments undertaken by AiiA adds substance and depth to something that we all know, and which has become very obvious to the general public in recent months: that AI is here to stay, and will be witnessing both unprecedented levels of growth as well as driving the expansion, disruption, modernization and diversification of countless other industries caught in its wake. These kinds of assessment lay the groundwork for the important process of AI industry structurization and commoditization, which will be required to leverage AI’s true potential, de-risk investments, unlock capital, and bridge the gaps between tech industries, ultimately creating a more sustainable and prosperous financial future within the AI industry and beyond.” said Dmitry Kaminskiy, Founder of AI Analytics Agency (AiiA) and General Partner of Deep Knowledge Group. - TradeArabia News Service


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