Market Insights Reports delivers key insights on the Global AI Governance market in its latest report titled, “AI Governance Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The market is expected to grow at a CAGR of 28.73% during the forecast period 2021 – 2026.
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Top Key Players in the Global AI Governance Market: IBM Corporation, Alphabet Inc., SAP SE, Microsoft Corporation(NAS: MSFT), FICO Inc., Salesforce.com, Inc.(NYS: CRM), Pymetrics Inc., SAS Institute, H2O.ai, Inc., Integrate.ai Inc., Facebook, Inc.
– July 2019 – Google added new features to its What-If Tool that would enable users to use the tool for XGBoost and Scikit-learn model. These models have been deployed on the AI platform and the feature can be activated by using method call.
Key Market Trends
The growing use of AI in Retail is Expected to Open Up New Avenues for Market Growth
– AI and ML are powerful technologies that are being increasingly deployed by retail firms. However, when the companies should deploy them with a comprehensive ethics plan in the process. The development of a code of conduct is expected to create structures and accountability leading to good data-management practices facilitating the establishment of a framework that provides guidance for the entire company.
– Ethical AI interactions are increasingly driving consumer trust, satisfaction, and decision making. According to the Capgemini Research Institute research the companies that are perceived to be ethically using AI and ML have a 44-point Net Promoter Score (NPS) advantage over those who are not.
– Retailers across the globe are also preparing their workforce for deploying end to end Ai driven solutions. This is expected to create major opportunities for the market in the future. A major retailer recently set up a comprehensive training program to equip its 40,000 employees for its AI transformation.
The report offers an in-depth assessment of the growth and other aspects of the AI Governance market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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North America is expected to hold the Largest Share of the Market Studied
– The North American region is one of the early adopters of AI technology and hence is also expected to generate maximum opportunities for this market. For instance, the U.S. National AI R&D Plan has recommended the development of an AI R&D implementation framework that helps organizations across the country incorporate ethical considerations into the R&D, without compromising on public engagement, and how to market one organization better
– Further, Autonomous transportation is one of emerging the areas in the automotive industry of the region where AI governance solutions are expected to play a major role in the future. This has led vendors like Alphabet to proactively create a global advisory council to consider ethical issues around artificial intelligence. This initiative has been undertaken in March 2019.
– The government in the United States is also proactively adopting measures for AI Governance. The government announced the adoption of AI ethical principles in line with the Department of Defense AI strategy objective thereby facilitating the ethical and lawful use of Ai systems by the U.S. military and associated industries.
This AI Governance Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2026
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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