It is speculated that OpenAI, the company behind ChatGPT and supported by Microsoft, is currently working on new agent software to automate complex activities through device management.
Gathering public data on different companies, creating travel plans, and making ticket reservations are just a few of the many web-based tasks that this agent software is designed to handle.
There will be less need for continual monitoring thanks to these next aides, frequently called “agents,” who are prepared to take on more complicated personal and professional tasks at human command.
In late 2022, OpenAI made headlines when it released its ChatGPT chatbot, which popularized generative AI with its demonstration of skills in writing sonnets and emails.
Within Two Years, GenAI Is Anticipated to Reach $100 Billion
In addition, a survey from the industry predicts that generative AI (GenAI) will have a prosperous future, with a $100 billion market by 2026. According to AltIndex.com, the GenAI market is expected to have a remarkable 65% spike in the coming two years, with OpenAI’s ChatGPT being named as a key component propelling this expansion. After only two months, the chatbot had 100 million users, making it the fastest-growing app of all time in 2023.
Market valuations for GenAI soared from $5.7 billion in 2020 to $44.9 billion in 2023, an astounding 690 percent rise.
While Statista predicts a general market rise of 48.4 percent, reaching an estimated value of $66.6 billion in 2024, they also predict a drop in the yearly growth rate.
The genAI industry is expected to reach $100 billion by 2026, a considerable 65 percent gain in only two years, despite this slowdown. Strong double-digit growth is expected to continue in the years to come. This number is expected to more than double to exceed $207 billion by 2030, according to long-term predictions.
With a predicted value of $37.3 billion by 2026, representing a 60% rise from the current year, the United States is expected to maintain its supremacy as the largest genAI market globally. In the meanwhile, the genAI market in China is expected to experience even faster growth, with a valuation that soars to $14.7 billion in the next two years, a 72% increase, further establishing China as the world’s second-largest market.
