The Internet of Things, blockchain, machine learning and smart robotics—these new technologies are transforming our lives, businesses and the global economy. However, among this sea of innovations, one sector particularly stands out: artificial intelligence (AI). The global AI market was estimated at $119.78 billion in 2022 and is expected to reach $1,591.03 billion by 2030, with a compound annual growth rate of 38.1% (from 2022 to 2030).
AI is becoming a key driver in the technology industry and reshaping the market landscape. With a multitude of new projects emerging, competition is intensifying. This presents challenges as well as opportunities for those who focus on genuine product improvement. These companies will maintain sustainable leadership in the final stage of technological business development, which can generally be categorized into four stages. After that, a revolutionary technological turn can occur, bringing us back to where we started.