GENERATIVE AI MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Rising investment in AI research and development by tech companies and venture capitals
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Major technology companies like Accenture, Adobe, Adept, AI21 Labs, Amazon Web Services (AWS), etc. and well-funded AI startups are investing heavily in generative AI with the goal of developing new applications and business opportunities. Corporates see huge commercial potential in generative models for personalized experiences, creative works, synthetic training data and others. Venture capitalists have recognized this potential and invests in AI startups each year. This rising investment boosts advancements in generative modeling techniques.
Large firms like OpenAI, Google, AWS, Microsoft, and others have launched initiatives and research labs dedicated to advancing the state-of-the-art in generative modeling, computational creativity and related areas. These are investing in novel model architectures, self-supervised learning methods, massive computational resources and talented researchers. Startups are innovating with new applications of generative AI in domains like art, science, manufacturing and social media. Many tech companies uses AI to automate routine design/engineering processes and generate synthetic test/training data to lower costs and boost productivity.
Venture funding for AI startups has increased exponentially in recent years. Unicorns like Anthropic, Stability AI and DeepMind received funding from top VCs. This large influx of capital boosts more innovations that push the boundaries of generative modeling.
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