The Latin America, Middle East and Africa Enterprise Artificial Intelligence Market would witness market growth of 34.7% CAGR during the forecast period (2022-2028).
To increase business competitiveness, several early adopters are investing in cognitive technologies. Sixty-three percent of executives who responded to the study claimed that their AI activities are necessary to catch up to their competitors or, at best, to gain a small lead. Furthermore, there seems to be an increasing connection between effective AI application and competitive edge. Companies feel their success depends on perfecting their AI strategies and capabilities during this brief window of time. Nevertheless, executives have become increasingly aware of how much time this will take.
Each provided businesses with a chance to develop a long-lasting competitive advantage. Businesses who didn't adopt each new technological generation lost their competitive edge. A major multinational organization would never attempt to close the books without an ERP system or conduct its operations only on mainframe computers.
The UAE Council for Artificial Intelligence and Blockchain has the responsibility of recommending regulations to develop an ecosystem that is friendly to artificial intelligence, to advance research in the field, and to encourage cooperation between the government and industry, including with international organizations, in order to hasten the adoption of A.I. The fourth cohort of the UAE AI Program, that also intends to equip employees in the public and private sectors with AI tools and training, improve their abilities, and increase their practical technology expertise in order to grow future services and online solutions that support the UAE's leadership in the direction of its 2071 Centennial goals, was initiated by the UAE government.
The Brazil market dominated the LAMEA Enterprise Artificial Intelligence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,134.8 million by 2028. The Argentina market is experiencing a CAGR of 35.4% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 34.4% during (2022 - 2028).
Based on Vertical, the market is segmented into IT & Telecom, BFSI, Automotive & Transportation, Retail, Media & Advertising, Healthcare & Life Sciences, and Others. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Technology, the market is segmented into Natural Language Processing (NLP), Machine Learning, Computer Vision, Speech Recognition, and Others. 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 Enterprise Artificial Intelligence Market is Predict to reach $67.2 Billion by 2028, at a CAGR of 30.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon Web Services, Inc., IBM Corporation, Apple, Inc., SAP SE, Wipro Limited., MicroStrategy, Inc., NVIDIA Corporation, Verint Systems, Inc., and IPsoft, Inc.
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