Generative AI Market Size, Trends, Latest Insights, Analysis and Forecast 2024-2031

Global generative AI market is anticipated to grow at a considerable CAGR of 48.5% during the forecast period. Generative AI algorithms need large datasets of training data to learn. The increasing availability of data from the internet, social media, and other sources is making it possible to train more powerful and sophisticated generative AI algorithms. The increasing availability of data is making it easier to develop and deploy generative AI applications. In the past, generative AI applications were often limited to research labs and large companies with access to large datasets. However, today, there are several cloud computing providers that offer generative AI services that businesses of all sizes can use.

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Generative AI is being used to develop new personalized medicine treatments. For example, generative AI is being used to develop personalized cancer treatments. Generative AI algorithms are trained on large datasets of cancer patients' data, including their genetic data, medical history, and response to treatments. This data is used to train the algorithms to generate personalized treatment plans for cancer patients. The increasing availability of data is making it possible to train more powerful and sophisticated generative AI algorithms for personalized medicine. This is leading to the development of more effective and targeted cancer treatments.

Global Generative AI Market Report Segment

By Offering

• Software/Platform
• Services

By Application

• Text
• Image
• Video
• Others (Audio, Code)

By Business Function

• Marketing and Sales
• Finance
• Human Resources
• Research and Development
• Others (Customer service and education)

By Vertical

• BFSI
• IT and Telecommunication
• Healthcare
• Retail and E-Commerce
• Manufacturing
• Media and Entertainment
• Construction and Real Estate
• Others (Government and Defense, Energy and Utilities, and Other)

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Generative AI Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Adobe, Inc.
• AI21 Labs
• Amazon Web Services, Inc.
• Anthropic PBC
• Bazaarvoice, Inc.
• Cisco Systems, Inc. (MindMeld)
• Cognizant, Inc.
• Cohere, Inc.
• Dataiku
• Fractal Analytics Pvt., Ltd.
• Genie AI Ltd.
• Hugging Face, Inc.

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