Global AI Market Expected to Reach $1.3T by 2030

report from MarketsAndMarkets said that the global AI market size was valued at $150.2 billion in 2023 and is expected to grow at a CAGR of 36.8% from 2023 to 2030. The revenue forecast for 2030 is projected to reach $1.345.2 trillion. The base year for estimation is 2022, and the historical data spans from 2023 to 2030.

“The increasing adoption of autonomous artificial intelligence (AI) is driving the growth of the Artificial Intelligence Industry,” the report added.

This trend is fueled by advancements in algorithms, machine learning techniques, and natural language processing, enabling the development of sophisticated autonomous AI systems. These systems offer improved accuracy and reliability, attracting organizations from various industries.

Active A.I. tech companies in the markets this week include Rezolve A.I. which has a merger deal with Armada Acquisition I. At the Armada-Rezolve deal announcement in December 2021, the combined business was expected to receive $150 million from Armada’s trust, which assumed no redemptions, together with approximately $40 million in additional investment proceeds. 

Rezolve is an AI-powered mobile commerce and engagement company.

Additionally, today the Ministry of Investment of Saudi Arabia announced a partnership with Rezolve. The collaboration is expected to revolutionize the AI landscape, establishing an AI Centre of Excellence in Saudi Arabia as a cornerstone of Vision 2030’s innovation and development goals. Read more.

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