RIYADH: Generative artificial intelligence’s market value is projected to hit SR4.8 trillion ($1.27 trillion) globally by 2032, according to a newly released report.
Issued by the Saudi Data and Artificial Intelligence Authority, the guide reviews the technology, its components, and use cases.
Generative AI uses machine learning techniques and deep neural networks in order to simulate the human ability to create new data or original and innovative content such as texts, images, and videos.
The study entails its benefits, adoption methods, and impact on various digital applications and services of vital sectors.
This aligns with SDAIA’s aim to raise awareness of the importance of this advanced form of AI as it contributes to enhancing the building of a bright future for the Kingdom.
In accordance with the Saudi Vision 2030, the region aims to be among the leading countries in developing this field.
The report also reveals that generative AI may raise the global gross domestic product by 7 percent over the next 10 years.
It also indicates that 30 percent of new medicines and materials will be discovered using this advanced form of AI by 2025.
Additionally, 70 percent of software companies will include generative AI capabilities in their applications.
Generative AI will also be used to automate the design of 60 percent of websites and applications by 2026.
Future predictions also suggest that this cutting-edge form of AI will develop 15 percent of new platforms automatically and without human intervention by 2027.
This interest in this conventional form of AI comes in light of the rapid development the world is witnessing in the sector’s technologies, in addition to an increase in the volume and diversity of available data, and the improvement in the power and speed of computers.
This shift signifies the beginning of a new era in technology, as AI advances and alters how users interact with machines.
