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Ai-as-a service riding the waves

Artificial Intelligence

AI-as-a-Service: be prepared for the next wave 

IbyIMD+ Published 15 April 2024 in Artificial Intelligence • 8 min read • Audio availableAudio available

AI-as-a-Service will impact executives and their strategic decisions. It’s crucial to assess the benefits and repercussions it will bring.

When cloud computing took off at the turn of the millennium, a fierce race unfolded among the tech behemoths. Amazon, Microsoft, and Google vied for a stake in the burgeoning public cloud market. If history has taught us anything, it’s that we don’t want to be left behind. AI is the latest frontier in this ongoing race. As the adoption of AI grows among enterprises seeking a competitive edge, so will the demand for AI-as-a-Service (AIaaS).

Put simply, AIaaS is a way for individuals and companies to leverage AI capabilities without doing the heavy lifting. This democratizes access to AI, fostering innovation and efficiency across businesses from all industries. According to Mordor Intelligence, the current size of the AIaaS market is valued at $15bn and is projected to reach $72bn by 2029. Yet, while AIaaS opens the door for new players to jump on the bandwagon, it also poses challenges that require careful consideration of ethical, security, and privacy concerns.


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