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AI Governance Market: Regional Trend &: Regional Trend & Growth Forecast To 2032

The rapid adoption of AI technologies across several industries and the rising concerns about ethical, legal, and societal implications to ensure responsible and accountable AI adoption will drive the market growth. Several regulatory bodies and governments are increasingly recognizing the importance of AI governance to protect consumer rights, and privacy, and mitigate biases. The growing awareness among multiple organizations about the reputational and financial risks associated with unethical AI practices has prompted the need to prioritize governance measures, further fuelling the market g

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AI Governance Market: Regional Trend &: Regional Trend & Growth Forecast To 2032

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  1. AI Governance Market Growth Potential & Forecast, 2032

  2. Industry Insights • The rapid adoption of AI technologies across several industries and the rising concerns about ethical, legal, and societal implications to ensure responsible and accountable AI adoption will drive the market growth. Several regulatory bodies and governments are increasingly recognizing the importance of AI governance to protect consumer rights, and privacy, and mitigate biases. The growing awareness among multiple organizations about the reputational and financial risks associated with unethical AI practices has prompted the need to prioritize governance measures, further fuelling the market growth. • AI governance market from the services segment reached USD 45 million in 2022. The growth can be attributed to the increasing focus of organizations on seeking external expertise to ensure compliance with ethical guidelines and regulatory requirements. Of late, there has been a significant rise in the number of service providers offering AI governance consulting, auditing, and implementation services.

  3. The cloud-based AI governance market is projected to record over 52% CAGR till 2032, attributed to rising demand from SMEs with insufficient resources and infrastructure to support on-premises installations. Cloud-based solutions are cost-effective as they help organizations to avoid upfront infrastructure expenditures and pay for AI governance solutions on subscription or use basis. Subsequently, the increasing popularity of cloud-based solutions will anchor the market development.

  4. Regional Analysis • Europe AI governance market is projected to reach USD 1 billion by 2032. Several government bodies in the region are aggressively implementing AI technology across different industries, including healthcare, manufacturing, banking, and transportation, contributing to the adoption of AI governance solutions. Furthermore, Europe is at the forefront of AI regulation, with the EU taking substantial measures to build ethical and legal frameworks for AI. The emergence of several regulations, including the General Data Protection Regulation and the upcoming AI Act will also boost the regional industry outlook. • Competitive Analysis •  Alphabet Inc., BigID, Capgemini, Deloitte, Everis, EY, Facebook Inc., IBM Corporation, KPMG, Looker, Maxwell IT, Microsoft Corporation, Oracle Corporation, PwC, SAP SE, SAS, Sovrin Foundation, and Stefanini.

  5. AI Governance Market @ https://www.gminsights.com/industry-analysis/ai-governance-market Request for sample of this research report @ https://www.gminsights.com/request-sample/detail/6015 Request for customization: https://www.gminsights.com/roc/6015

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