Artificial intelligence or AI is the buzzword of present times. Rise in government initiatives and measures for optimal utilization of AI technology and for making AI systems more trustable. Furthermore, there has been a rising demand for more transparency in decisions pertaining to AI technology. These factors are likely to fuel growth of the global AI governance market. However, better understanding of AI skills and data are required for leveraging its benefits in years to come.
The process of AI governance comprise framework and policies that comes with the objective of developing, designing and constantly supervising algorithms and the models of Machine Learning (ML). The purpose behind this is to make sure that the outcomes remain free from any kind of bias. Government needs to emphasize and focus on accountable, transparent, and ethical utilization of AI systems.
The global AI Governance market has been segmented on the basis of three parameters, namely vertical, component, and region.
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Global AI Governance Market: Notable Developments
The following development in the global AI Governance market reveals the changing market dynamics:
- In January 2019, Facebook made an announcement of its partnership with the Technical University of Munich and its internal project, named Fairness Flow. Fairness Flow comes with various tools that can produce metrics to figure out if unintended metrics exist in some specific models or not.
A few of the leading market vendors of the global AI Governance market are as mentioned below:
- SAS Institute
- Facebook Inc.
- Pymetrics Inc.
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Global AI Governance Market: Key Trends
In all likelihood, the following drivers, restrains, and opportunities are going to shape the future course of the global AI Governance market during the study period, from 2019 to 2027.
AI Governance Gains Popularity to Answer Calls for Fairness in Decision Making Processes
In the last few years, there has been a rise in the implementation of AI technologies across many sectors in a bid to automate various business processes, which would lessen cost of production, facilitate effective decision making, and offer upper hand over others in the face of high competition.