AI and Machine Learning in Business Market to Reach $190.5 Billion, Globally, by 2032 at 32% CAGR: Allied Market Research [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Company Research
Source: Yahoo! Finance
Component (Solution and Services), Enterprise Size (Large Enterprise, and Small and Middle-sized Enterprise), Application (Data Analytics, Predictive Analytics, Cyber Security, Supply Chain and Inventory Management, and Others), and Industry Vertical (BFSI, IT and Telecom, Retail, Manufacturing and logistics, Energy sector and Utilities, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the AI and machine learning in business market was valued at $120.9 billion in 2022 and is estimated to reach $190.5 billion by 2032, growing at a CAGR of 32% from 2023 to 2032. Drivers, Restraints, and Opportunities Cost reduction and efficiency drive the market growth. In addition, digital transformation initiatives primarily drive the growth of the market. However, data privacy and security concerns are primarily expected to hamper the growth of the market. Furthermore, advancement in AI and machine learning technology is expected to
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BABA
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