AI Governance Market

The global market for AI governance is anticipated to grow at a compound annual growth rate (CAGR) of 45.3% over the course of the forecast period, from an estimated USD 890.6 million in 2024 to USD 5,776.0 million by 2029. There has been a significant rise in the worldwide need for AI governance due to the increasing regulatory compliance pressures driving organizations to adopt governance frameworks, awareness of risk mitigation efforts prompting investments in AI governance tools, AI governance adoption in regulated industries fuels growth of governance solutions, and demand for trust and transparency  expanding the AI governance market.

Some leading players in the AI governance market include Microsoft (US), IBM (US), Google (US), Salesforce (US), SAP (Germany), AWS (US), SAS Institute (US), FICO (US), Accenture (Ireland), Qlik (US), H2O.AI (US), Alteryx (US), DataRobot (UK), Dataiku (US), Domino Data Lab (US), SparkCognition (US), Collibra (US), OneTrust (US), Quest Software (US), and Fiddler AI (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the AI governance market.

To know about the assumptions considered for the study download the pdf brochure

Microsoft

Microsoft has established a robust presence in the AI governance market through its strategic focus on responsible AI. The approach to AI governance from the firm emphasizes openness, fairness, and accountability, which is then fortified by tools such as Microsoft's AI Responsible Innovation and Azure OpenAI services. Major competencies include embedding AI values into the development of its products, preserving outstanding data security and especially, providing support for achieving AI standards such as the Microsoft Responsible AI Standard. Horizontal integration provides the possibility for buying companies such as Nuance, which would increase the strength of its healthcare AI capability, for example. Liaisons with OpenAI and governments extend its reach while ensuring that it is regulating by worldwide standards. Collaborations and partnerships make sure that its solutions are not only technologically advancing but also aligned with the greatest ethical standards in finance, health care, and public services. These efforts position the company in a good spot regarding dominance in AI governance as both vertical and horizontal strategies build on its impact.

Google

Google has impacted the AI governance field through strategic efforts towards responsible AI development, transparency, and promotion of global policies. One of the major strategies includes partnership with international organizations in ways that call for an ethical governance structure for AI. Through its machine learning, natural language processing, and cloud infrastructure expertise, Google can influence AI governance through the development of robust tools for auditing and AI risk management. Key activities would encompass the establishment of the partnership on AI and launching products such as Google Explainable AI to build transparency. The company is engaging in horizontal integration through the acquisition of AI ethics start-ups and vertical integration through creating governance mechanisms of AI in its core products like Google Cloud and AI-related solutions. In addition, engagement with academic institutions and AI research labs makes it likely to develop standard international standards for AI governance.

IBM

With strategic initiatives like developing watsonx.governance, ensuring its compliance, explainability, and lack of bias, IBM has successfully placed itself in the AI governance market. High competencies include advanced AI technology, data management skills, and industry expertise - all these ability are provided to deliver scalable, sectoral AI solutions. Core activities include governance frameworks development, managing the full lifecycle of AI, and regulatory compliance. IBM invests in joint ventures and partnerships with industry leaders and academic institutions for increased AI governance standards. The company employs vertical integration wherein AI governance is ensured to be embedded with its broader cloud and data-based systems. The same delivers an end-to-end solution to its enterprise clients. A broad approach, therefore, would be the ethical deployment of AI across several industries by strengthening the position of IBM on responsible AI.

Related Reports:

AI Governance Market by Functionality (Model Lifecycle Management, Risk & Compliance, Monitoring & Auditing, Ethics & Responsible AI), Product Type (End-to-end AI Governance Platforms, MLOps & LLMOps Tools, Data Privacy Tools) - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103,
Delray Beach, FL 33445
USA : 1-888-600-6441
[email protected]