Recently, a business research company released its 2024 Generative AI Market Report, showing that the market has rapidly expanded in recent years. According to the report, the generative AI market is expected to grow from $13.64 billion in 2023 to $18.1 billion in 2024, with a compound annual growth rate (CAGR) of 32.7%. This growth is mainly attributed to increased computing power, widespread availability of data, continuous R&D advancements, increased industry applications, and breakthroughs in deep learning. Image Source Note: The image was generated by AI, image usage authorized.