Many fear the rise of AI as it threatens jobs, art, and even a sense of belonging. Well, it doesn’t look like it will stop. According to a report by Stocklytics.com, the generative AI market will hit 1 trillion by 2031, with an astounding CAGR of 48.05%. Silicon Valley giants like Amazon, Microsoft, and Google anticipate the most significant gains from this forthcoming growth.
Edith Reads, the financial analyst for Stocklytics stated, “In the wake of the development of new AI tools, there’s been an escalated interest and demand in the technology. The growing curiosity about how they operate and how much they can help has propelled its immense success. With new innovative tech designs set in motion, we can expect the domain to garner an impressive trajectory in the coming years.”
The hype of Midjourney and other generative AI tools has taken over the art world, primarily due to plagiarism claims that have left heads scratching. In hopes of improvement shortly, AI companies will only improve their moral stance when creating content or “art.
