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Generative AI (GenAI) is revolutionizing software development, projected to reach nearly $3 billion by 2030 with a CAGR of 35.3%. The technology addresses the growing skills shortage in the software engineering workforce, which is expected to reach 4.3 million by 2030. By enhancing developer productivity and efficiency, GenAI can significantly impact companies' bottom lines.
The software development process consists of coding, testing, and deployment, and GenAI is transforming these stages by creating new efficiencies. Investment in AI tools for coding is just the beginning, with a vast potential market in areas like debugging and risk management. This shift allows businesses to respond faster to market demands and improve overall profitability.
• GenAI market in software development expected to reach $3 billion by 2030.
• Skills shortage in software engineering projected to hit 4.3 million by 2030.
Generative AI refers to algorithms that can create new content, enhancing software development efficiency.
SDLC encompasses all stages of software development, from coding to deployment, where AI can be applied.
Agentic approaches involve creating autonomous agents that can perform tasks independently, streamlining development processes.
Google is a leader in AI technology, applying GenAI to enhance software development tools and processes.
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