GITNUX MARKETDATA REPORT 2024

AI Governance Industry Statistics

The Ai Governance Industry is expected to grow rapidly due to increasing demand for regulations and standards surrounding AI technology.

Statistic 1

"By 2026, AI governance is predicted to be a global industry worth over $397 million."

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Statistic 2

"The global AI governance market is expected to grow at a CAGR of 44.3% during 2021-2026."

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Statistic 3

"North America holds the largest market share of over 60.5% in the AI governance market."

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Statistic 4

"About 79% of organizations now have an AI governance policy in place."

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Statistic 5

"43% of executives stated that AI governance was a top challenge for AI adoption in businesses."

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Statistic 6

"57% of companies have reported feeling unsure about their ability to identify and mitigate the risks associated with their AI governance."

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Statistic 7

"Industrial (manufacturing) sector dominates the application of AI governance, accounting for 33.1% of the global market."

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Statistic 8

"An estimated 36% of organizations labelled public perception of their AI governance as ‘good’ or ‘very good’."

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Statistic 9

"A significant 92% of AI leaders believe that AI governance, transparency and ethics are important, yet only 41% of companies are actively implementing these practices."

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Statistic 10

"Artificial intelligence in banking and financial services holds the second largest revenue share in the AI governance market due to increasing use of AI tools."

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Statistic 11

"Approximately 63% of risk professionals believe they lack sufficient understanding of AI risks to provide effective oversight."

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Statistic 12

"55.9% of the respondents in a survey agreed that explainability and trust is a critical barrier for AI adoption and governance."

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Statistic 13

"62% of employees expect the job market to improve with the adoption of AI technology."

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Statistic 14

"Nearly 89% of organizations are piloting, scaling, or deploying AI in the workplace."

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Statistic 15

"Agreement to share personally identifiable information in return for perceived benefits varied from 63% in Australia to just 40% in the UK."

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Statistic 16

"Over 73% of organizations report a skills gap in AI risk management."

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Statistic 17

"81% of US business decision-makers believe their enterprises will go out of business in few years if they do not embrace big data/AI initiatives."

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Statistic 18

"65% of respondents agreed that government should play a role in regulating AI."

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