Many fear the rise of artificial intelligence because it threatens jobs, art, and even the sense of belonging. Well, it doesn't look like it's going to stop. According to a report by L Stocklytics.com, the generative AI market will reach 1 trillion by 2031, with a staggering CAGR of 48.05%. Silicon Valley giants such as Amazon, Microsoft, and Google expect to achieve the most significant gains from this anticipated growth.
Edith Reeds, Financial Analyst at Stocklytics, said: “In the wake of the development of new AI tools, there has been a growing interest in and demand for the technology. The growing curiosity about how they work and how they can help has contributed to its tremendous success. As new innovative technology designs begin to be implemented, we can expect the field to gain an impressive trajectory in Next years.
The hype of Midjourney and other AI tools has taken over the art world, mainly due to plagiarism allegations that have left heads scratching. Hoping to improve soon, AI companies will only improve their ethical standing when creating content or “art.”
