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The artificial intelligence (AI) market, including hardware and software, is expected to grow significantly, with projections indicating an annual increase of 40% to 55%. This growth could see the market reach between $780 billion and $990 billion by 2027, driven by advancements in larger models, data centers, and enterprise AI initiatives. Generative AI is identified as a key driver of this transformation, necessitating an 'AI everywhere' approach for enterprises.
The demand for AI computing power is anticipated to surge, leading to a substantial increase in data center capacity and graphics processing unit (GPU) requirements. This growth may strain supply chains and potentially trigger a new semiconductor shortage due to geopolitical tensions. Governments are also investing heavily in sovereign AI initiatives, which adds complexity to the landscape, emphasizing the need for companies to adapt and innovate to maintain competitive advantages.
• AI market projected to grow to $990 billion by 2027.
• Generative AI drives current changes in enterprise AI adoption.
Generative AI is highlighted as a primary driver of change in the AI landscape, influencing how businesses scale their AI initiatives.
The report indicates that AI will significantly increase the demand for data centers, expanding their capacity dramatically.
The emergence of sovereign AI blocs is noted as a complex factor for technology companies, with various governments investing billions in these initiatives.
Bain & Company conducted the study projecting significant growth in the AI market, emphasizing the need for enterprises to adapt to AI advancements.
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