Information and Communication Technology AI Governance Analytics Market is projected to grow up to 65.7% CAGR during the forecast p...


AI Governance Analytics Market is projected to grow up to 65.7% CAGR during the forecast period 2021-2027.

Artificial intelligence, or AI, is the new trend. There has been an increase in government programmes and policies aimed at making AI systems more trustworthy and maximising the use of AI technology. Furthermore, there has been a growing need for greater openness in AI technology decisions. The worldwide AI governance market is expected to increase as a result of these causes. However, in order to reap the benefits of AI in the future, a greater grasp of AI skills and data is required. Legal issues, data quality, and AI system independence are all covered under AI governance. It specifies the industries that are suitable for AI system automation, the legal framework that the organisation requires, and the AI system control measures that are required. All of these actions are carried out by machine learning algorithms in AI governance. It also aids in avoiding a scenario in which AI-based choices are unjust and in conflict with human rights in an AI system.

The research would give market leaders/new entrants in this market information on the revenue numbers for the overall AI governance market and its subsegments that are the closest approximations. It would aid stakeholders in better understanding the competitive landscape and gaining additional insights into how to position their company and develop appropriate go-to-market strategies. It also assists players in gaining a better understanding of the industry's pulse by providing data on major market drivers, restraints, challenges, and opportunities.

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Key Driving Factors: Increased government involvement in using AI technologies

With the expanding benefits of AI, businesses and governments around the world are adopting a variety of steps to adopt AI and machine learning technology and establish themselves as industry leaders. So, governments from multiple nations are establishing councils, defining new norms and guidelines, and designing frameworks to further AI governance. One of the key goals of governments using AI governance solutions is to secure privacy and civil liberties and develop trust and confidence in AI technology amongst the people. Many companies, in cooperation with AI solution providers, universities, and research labs, have organized risk assessment committees.

Opportunities: Artificial intelligence (AI) reduces gender bias and discrimination

With its machine learning and cognitive thinking capabilities, AI technology has changed the current period. Through numerous use cases, it has had a positive impact on society. However, there are also instances in which AI produces biassed and discriminatory results. AI technology is currently in development, and it learns from many types of data patterns to provide a negative or positive outcome. Developers would be able to design and monitor the ML system, as well as train it using relevant data, using AI governance technologies to minimise undesirable outcomes. The only way for AI solution providers to avoid reputational, financial, and data-related risks caused by unexplained AI is to deploy an AI governance system.

This report offers the major market player’s profiles, such as  SAS Institute, Google LLC, Amazon Web Services, IBM Corporation, Integrate.ai, Facebook, Microsoft Corporation, SAP ERP, H2O.ai, and Sales force.

Based on Vertical: Automotive, Government and Defense, Healthcare and Life Sciences, Media and Entertainment, Telecom, Retail, and Others make up the global AI Governance market. The automotive industry has the highest market share, followed by government and defence. One of the areas where AI governance solutions are expected to play a significant role is autonomous vehicles. A significant aspect driving this market is the presence of numerous projects aimed at the development of self-driving cars. Similarly, the adoption of AI-enabled hardware has sparked a significant increase in the use of dedicated AI-enabled GPUs to enable and improve self-driving technologies and AI algorithms.

The AI Governance Analytics Market report has been categorized as below

By Component

  • Solution

    • Software Tools

    • Platform

  • Services

    • Consulting

    • Integration

    • Support and Maintenance

By Deployment Mode

  • Cloud

  • On-premises

By Organization Size:

  • Large enterprises

  • Small and medium-sized enterprises (SMEs)

By Vertical

  • BFSI

  • Government and Defense

  • Healthcare and Life Sciences

  • Media and Entertainment

  • Retail

  • IT and Telecom

  • Automotive

  • Other Verticals

By Application

  • Prototyping

  • Manufacturing

By Region

       North America

●    Europe

●    Asia Pacific

●    Rest of World

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Published Date : July-2021