ChatGPT to Fuel $1.3 Trillion AI Market by 2032, BI Report Says

The release of consumer-focused artificial intelligence systems like OpenAI Inc.’s ChatGPT and Google’s Bard will fuel a decade-long boom, with the market for generative AI reaching $1.3 trillion in 2032 from $40 billion last year.

The compound annual growth rate for the sector over the next ten years could expand by 42%, driven first by training infrastructure and then inference devices for large language models, advertising and other services, according to a new report by Bloomberg Intelligence analysts led by Mandeep Singh.

Source: Bloomberg Intelligence, IDC

“The world is poised to see an explosion of growth in the generative AI sector ...