"Smart Strategies, Giving Speed to your Growth Trajectory"

Artificial Intelligence (AI) Governance Market Size, Share & Industry Analysis, By Deployment (On-Premise, Cloud), By Component (Solution, Services), By Enterprises (Large Enterprises, SME's), By End-User (BFSI, Government and Defense, Healthcare and Life Sciences, Media and Entertainment) And Regional Forecast 2022-2029

Region : Global | Report ID: FBI105975 | Status : Ongoing

 

KEY MARKET INSIGHTS

In modern life, Artificial Intelligence(AI) has now become a real-world application technology. The appropriate adoption and usage of AI technology can provide significant benefits for society and economies. The rise in AI implementation across the globe in various sectors such as healthcare, transportation, education, etc., has increased public safety and security concerns, increasing the demand for AI governance.


The concept of AI governance is that there should be a legislative framework to ensure that Machine Learning (ML) technologies are thoroughly explored and systematically developed to assist humankind in adopting AI technology fairly. AI (Artificial Intelligence) governance is concerned with assessing and monitoring algorithms for efficiency, return on investment (ROI) risk, and bias.


The primary goal of AI governance is to bridge the gap between accountability and ethics in technological progress. For instance, according to a survey report of The Centre for the Governance of AI from June 2019, 8 out of 10 Americans believe AI and robots should be supervised appropriately. And on the other hand, according to Accenture Research, 82% of federal executives predict that within two years, "AI will work alongside humans as a coworker, collaborator, and trusted advisor." To grow their confidence in automated systems for frequently life-changing decisions, the workforce will need a high level of trust that AI governance could achieve and fill the gaps.


With the expanding benefits of AI, businesses and governments worldwide are adopting various steps to adopt AI and machine learning technology and establish themselves as industry leaders. As a result, government organizations worldwide are forming councils, developing new norms and rules, and designing AI governance solutions. However, since AI technology is in an early stage and is facing continuous advancements, there are no appropriate ethical rules. The standardization of regulations and policies could be difficult to achieve.


Key Market Driver -

• Government initiatives to use AI technology are on the rise, which can boost the AI governance market. • Rising demand to develop trust in AI systems and the requirement for transparency in AI technology

Key Market Restraint -

• Lack of broad ethical rules for artificial intelligence could retrain the market.


Key Players Covered


The key service providers operating in the AI governance market among others are, TIBCO Software, SAS Institute, Google, Microsoft, SparkCognition, Fiddler Labs, DarwinAI, AWS, IBM, FICO, Zest AI, Pymetrics, H2O.ai, Informatica, Ataccama, Qlik Facebook, SAP, Salesforce, DataRobot, Dataiku, KyndiMindsDB, Integrate.AI, Untangle AI, Truera, Genie AI,  AnotherBrain, 2021.AI, and Diveplane. These companies have used different organic and inorganic growth tactics, such as new product releases, product advancements, partnerships, and mergers and acquisitions. For instance, in February 2021, the acquisition of Tellstory by Ataccama has been announced. The acquisition furthers Ataccama's goal of enabling businesses and data teams to innovate at breakneck speed while retaining data trust, security, and governance.


Region Analysis


North America is currently leading the market and expected to dominate during the forecasted 2021-2028. The region's economies are well-established, allowing AI governance vendors to invest in new technology. United States has taken advantage of AI, machine learning, and deep learning technology. Europe is predicted to show the highest CAGR during the forecasted period. The rise in commitment towards AI regulatory standards would help accelerate AI governance solutions and boost its market.


The Asia Pacific is expected to show enormous growth during the forecasted period as the region is adopting the technology rapidly. Various countries such as Australia, China, Singapore, and South Korea are working in AI governance and building foundations to construct principles, standards, and guidelines for AI. For instance, The Beijing AI principles were announced in May 2019 by the Chinese Academy of Sciences and the BAT to provide guidelines on AI R&D, implementation, governance, and long-term planning.


Middle East and Africa are expected to show promising growth during the forecasted period. According to a report published by Microsoft, EY joint study unveils that the UAE has been the second-largest regional investor in artificial intelligence over the last decade. Also, the various region is seeing tremendous growth in the use of AI technologies in recent years, which cloud be the driving factor for the market. Similarly, South America is also expected to show steady growth as the region is rapidly adopting AI technology.


To gain extensive insights into the market, Request for Customization


Segmentation






























  ATTRIBUTE


  DETAILS

By Deployment




  • On-Premise

  • Cloud



By Component




  • Solution

  • Services



By Enterprises




  • Large Enterprises

  • SME's



By End-User




  • BFSI

  • Government and Defense

  • Healthcare and Life Sciences

  • Media and Entertainment

  • Retail

  • IT and ITeS

  • Automotive

  • Other Verticals (Education, etc.)



By Region




  • North America (the United States, Canada, and Mexico)

  • South America (Brazil, Argentina, and Rest of South America)

  • Europe (the U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, and Rest of Europe)

  • Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, and Rest of the Middle East & Africa)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, and Rest of Asia Pacific)



Key Industry Developments



  • April 2021: Informatica unveiled Intelligent Data Management Cloud(IDMC). Tool aimed at assisting businesses in truly innovating with their data, across all platforms and clouds, in a variety of configurations and it’s governance.

  • May 2021: Fiddler AI announced collaboration with In-Q-Tel in FinRegLab Research. To evaluate the fairness and transparency of machine learning underwriting models.


  • Ongoing
  • 2021
  • 2018-2020

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Information & Technology Clients

ey
Lg
Toshiba
Go daddy
Google

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X