The Global Artificial Intelligence (AI) Market is forecasted to expand by USD 237.4 billion from 2023 to 2028, with a notable CAGR of 30.07%, according to Technavio. Factors such as AI’s effectiveness in mitigating fraud, preventing cyber threats, integrating chatbots, and enhancing employee productivity are driving this growth. However, the industry faces critical challenges, including a shortage of AI talent, high implementation costs, and regulatory hurdles. Overcoming the lack of skilled AI professionals is crucial to unlocking AI's full potential, while also addressing affordability and regulatory barriers. These efforts are necessary to increase AI adoption across industries. Despite these challenges, the market is poised for robust growth, fueled by the growing acknowledgment of AI’s transformative role in strengthening data security, streamlining automation, and improving overall business operations.

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