The Latin America, Middle East and Africa AI Governance Market would witness market growth of 42.7% CAGR during the forecast period (2022-2028).
The potential for damage that AI systems may produce is what drives the need for accountability in AI governance. AI programs can potentially make bad judgments that harm people or the environment. Responsibility may aid in ensuring the responsible usage of AI systems and that persons in charge of them are held accountable for any damage they may do. Because AI systems often have access to many data, there is a need for privacy in AI governance. Personal information about people that may be used to identify them or influence choices about them may be included in this data. Data used to train and test AI systems might raise privacy issues.
The ability of AI systems to launch assaults is what drives the need for security in AI governance. AI systems can potentially exploit existing vulnerabilities in computer systems or introduce new ones. Data used to train and test AI systems might raise security issues. Because AI systems are often used to make choices that substantially influence people's lives, trustworthiness in AI governance is necessary. Being trustworthy may guarantee that AI systems are utilized responsibly and that reliable data support their judgements.
The UAE Council for Artificial Intelligence and Blockchain started the establishment of an AI-friendly ecosystem to encourage research in the field and partnerships between the public and commercial sectors to hasten the deployment of AI technology. The Middle East and North Africa (MENA) region's primary center for international commerce and business, the UAE, is a fiercely competitive market for the information and communication technology (ICT) sector. The SmartPass system in the UAE established a digital foundation for all government agencies and departments. These services will include the UAE Strategy for Artificial Intelligence (AI) 2031. The need for responsible AI is increasing along with the deployment of AI and ML technologies, boosting regional market expansion.
The Brazil market dominated the LAMEA AI Governance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $11,782 Thousands by 2028. The Argentina market is exhibiting a CAGR of 43.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 42.4% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into BFSI, Healthcare & Lifesciences, Media & Entertainment, IT & Telecom, Retail, Government, Automotive and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global AI Governance Market is Predict to reach $562.9 Million by 2028, at a CAGR of 34.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Google LLC (Alphabet Inc.), IBM Corporation, SAP SE, Amazon Web Services, Inc. (Amazon.com, Inc.), Salesforce.com, Inc., Meta Platforms, Inc., SAS Institute, Inc., Tibco Software, Inc. (Vista Equity Partners), and QlikTech International AB.
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