In 2023, generative AI technology has risen, with forecasts predicting a market of $100 billion by 2028. The CEO emphasizes the potential for early profitability, with IDC and Bloomberg reports predicting a $1.3 trillion market over the next decade. 2024 is expected to be the starting point for monetization growth in GenAI, with IDC estimating that GenAI solution spending will reach $143 billion by 2027. Bloomberg research shows that the market could potentially explode to $1.3 trillion over the next decade. Generative AI will become an integral part of IT spending, advertising spending, and cybersecurity, bringing an explosive change to the way the technology industry operates globally.
Global Generative AI Market Predicted to Reach $100 Billion by 2028
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