target audience: TECH SUPPLIER Publication date: Jul 2024 - Document type: Market Analysis Perspective - Doc Document number: # US51534724
Market Analysis Perspective: Worldwide AI Life-Cycle Software, 2024
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Abstract
This IDC Market Analysis Perspective provides insight into the current state and outlook of the worldwide AI life-cycle tools and technologies software market. The AI life-cycle software market experienced significant growth in 2023. Vendors began integrating AI-assisted capabilities and AI governance features into their platforms to accelerate the AI life cycle and mitigate risks. Despite the market growth, enterprises remain cautious about generative AI, expressing concerns about fairness, privacy, and security of data and models.
"IDC expects this growth trend to continue through 2024 and beyond, as enterprises deploy integrated AI and generative AI use cases," said Kathy Lange, research director for Machine Learning Life-Cycle Tools and Technologies at IDC. "However, AI's evolution demands an alignment of AI technology with responsible AI practices, shaping the future of AI-powered business with governance."