TECH - UBS Forecasts Unprecedented Surge In AI Industry Predicts 15-Fold Surge In Revenue: 'App Store Moment...Has Arrived' | Benzinga
The Artificial Intelligence (AI) sector is poised for a massive expansion, predicted to reach a market value of $225 billion by 2027, as stated by UBS.
What Happened: In their latest note published on Wednesday, UBS forecasts exponential growth in the AI industry, from a $2.2 billion market in 2022 to a staggering $225 billion by 2027, Business Insider reported. This signifies a near 152% compound annual growth rate.
The bank further predicts a 15-fold surge in AI sector revenue, climbing from $18 billion in 2022 to $420 billion in 2027, marking a 40% upward revision from UBS’s previous estimates.
The “App Store moment for the AI industry has arrived,” UBS declared, referencing the launch of applications such as copilots and features from OpenAI. The application sector is anticipated to witness a 138% CAGR due to rising demand for AI software.
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Additionally, clearer AI infrastructure spending is projected to sustain the tech industry’s multi-year momentum, ...