AI in Chemicals Market worth $3.8 billion by 2029- Exclusive Report by MarketsandMarkets™ [Yahoo! Finance]
International Business Machines Corporation (IBM)
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Source: Yahoo! Finance
Anticipate artificial intelligence (AI) to be a major factor in improving supply chain resilience, safety, compliance, and collaborative innovation ecosystems; it will also emphasise ethical AI practices and ongoing evolution. CHICAGO May 7, 2024 /PRNewswire/ -- The AI in Chemicals Market is estimated to grow from USD 0.7 billion in 2024 to USD 3.8 billion by 2029 at a CAGR of 39.2% during the forecast period, according to a new report by MarketsandMarkets™. The chemicals industry is experiencing significant transformations driven by the increased integration of AI in research and development (R&D) processes. Simultaneously, there is a growing demand for AI-enhanced chemical process optimization, aiming for efficiency, cost reduction, and environmental sustainability. These trends are further fueled by opportunities such as the rising demand for AI-based predictive maintenance, leveraging AI's capabilities for proactive equipment upkeep. Additionally, the integration of generative A
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