In 2024, the generative AI market was valued at USD 15.6 billion and is expected to soar to USD 81.1 billion by 2030, growing at a remarkable compound annual growth rate (CAGR) of 31.6% from 2024 to 2030. This surge in the market is attributed to its potential to revolutionize industries by opening new avenues for innovation and automation.
Generative AI encompasses a set of algorithms capable of creating realistic content by utilizing training data such as images, text, and audio. For instance,