Google’s Bard Sparks AI Market Boom Worth $1.3 Trillion

The release of consumer-friendly AI tools, such as Google’s ChatGPT and Bard, is set to inflate the generative AI market to an estimated $1.3 trillion in revenue by 2032, up from $40 billion in 2020, according to a Bloomberg Intelligence report by Mandeep Singh and his team. The AI sector could grow at a rate of 42% over a decade, sparked by infrastructure demands for AI system training. Devices integrating AI models, advertising, and other services will follow this. Since the late release of ChatGPT last year, the demand for generative AI has surged globally, irritating everything from banking to customer service. Amazon, Google’s parent, NVIDIA, and Microsoft are among the prominent winners of the AI boom.