AI governance, or the process of defining policies to guide AI development, is a fast-growing market opportunity. A report from StrategyR highlights this, predicting that AI governance software and services could be worth $402 million by 2026, up from $49.3 million in 2020.
“Amid the COVID-19 crisis, the global market for AI governance [has grown significantly],” StrategyR wrote in a press release. “The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace.”
AI governance adoption
The pandemic forced companies to rethink models used to manage AI risk, but many face continued challenges. According to a Deloitte analysis, as of March, 38% of organizations either lacked or had an insufficient governance structure for handling data and AI models. And a survey by Pegasystems predicts that if the current trend holds, a lack of accountability within the private sector will lead to governments taking over responsibility for AI regulation over the next five years.
Continue reading: https://venturebeat.com/2021/08/25/how-new-regulation-is-driving-the-ai-governance-market/
“Amid the COVID-19 crisis, the global market for AI governance [has grown significantly],” StrategyR wrote in a press release. “The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace.”
AI governance adoption
The pandemic forced companies to rethink models used to manage AI risk, but many face continued challenges. According to a Deloitte analysis, as of March, 38% of organizations either lacked or had an insufficient governance structure for handling data and AI models. And a survey by Pegasystems predicts that if the current trend holds, a lack of accountability within the private sector will lead to governments taking over responsibility for AI regulation over the next five years.
Continue reading: https://venturebeat.com/2021/08/25/how-new-regulation-is-driving-the-ai-governance-market/
