Artificial intelligence (AI) has been steadily growing and gaining a strong position in many areas of life, making things easier and more convenient for us. AI is also transforming our industries and reshaping the future of technology. As 2024 progresses, the question on our minds as investors is: is now the right time to invest in AI and related open AI projects? There are already many AI projects on the market and many multinational companies investing in AI programs, e.g., Google, Apple, etc.
As you notice, over the past decade, AI has moved from science fiction to a crucial component of everyday life. We can give examples of some voice assistants like Siri and Alexa in the past and new developments in the automobile sector, e.g., automated driving cars. However, in today’s world, AI applications are vast and ever-expanding, which means that whether you are a programmer, graphic designer, or data analyst, you can do many complicated things with a few clicks. These are now considered to be common practices.
While if we talk about AI global market growth and its future potential, you would be surprised to see the numbers.
According to Statista, the market size of the Artificial Intelligence sector is projected to reach USD 184.00 billion in 2024. The market is expected to grow at a compound annual growth rate (CAGR) of 28.46% from 2024 to 2030, resulting in a market volume of USD 826.70 billion by 2030. Globally, the largest market size will be in the United States, with an estimated value of USD 50.16 billion in 2024. Source Statista.com
Furthermore, there are many exciting developments that we see in AI, e.g., various projects in OpenAI, as well as other projects like TensorFlow, PyTorch, etc. These tools and projects aim to bring more innovation and efficacy that are beneficial for us and make our lives easier by solving critical problems.
While talking specifically about making any investment in AI or other open AI projects, you must understand that even though these projects have high potential in the future, you cannot ignore the risks associated with them. You should consider some key factors in your mind when we are going through the discussions here one by one.
Technological Advancements: As you know, technology is getting more advanced day by day, and the future of AI will be more innovative. Investments in AI projects need you to be informed of the latest developments and trends in AI.
Regulatory Environment: Just like advancement in AI, there might be some challenges and concerns regarding security, privacy, and most importantly, the ethical concern that you should consider before. In fact, such concern might bring about new regulatory changes in this sector and affect AI projects.
Market Leaders and Innovators: Closely watch the market giants learn how to respond to this descriptive AI technology, as the tech market is highly affected by these key tech giants, e.g., Google, Amazon, Microsoft, Apple, etc.
These are the key factors that you should consider while planning to invest in an AI project or companies working on different AI projects. For example, Apple recently announced plans to bring AI features name Apple Intelligence to its models, and Google is also testing AI in their search engines. These are the latest developments that we have seen.
No doubt AI is growing day by day, and many multinational companies are focusing on AI in their various projects, which could definitely be an opportunity for you as an investor to consider your investment in AI. However, this is not enough; you need to go through in-depth research on the project that you are thinking will bring value in the future. Remember that the future will be more innovative, and many advanced technologies will take place through AI.
Disclaimer: Our blog post is for informational purposes only and does not constitute financial advice for you. Always consult a professional before making investment decisions.
