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Artificial Intelligence Market Expansion at 15.92% CAGR by 2031 | SkyQuest Technology

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WESTFORD, Mass., June 27, 2024 /PRNewswire/ — According to SkyQuest, the global Artificial Intelligence Market size was valued at USD 157.8 Billion in 2022 and is poised to grow from USD 285.9 Billion in 2023 to USD 1,047.0 Billion by 2031, at a CAGR of 15.92% during the forecast period (2024-2031).

Artificial intelligence is developing human intelligence systems using devices to create intelligent software and hardware capable of performing human behaviors such as learning and problem solving. The report also includes AW-based solutions such as AWS Chatbots, OpenAI Codex, and Azure AI. The global market is set to grow exponentially with the rise of artificial intelligence, increased share and efficiency, growth of smaller AI providers, changing complex business models and highly personalized service requirements.

In recent years, digital technology and the widespread use of the Internet have contributed significantly to the global expansion of the AI industry. Technological advances in various industries are always driven by the huge investments in R&D by large tech companies.

In response to the introduction of new AI tools, hyper-scalers around the world are introducing AI-powered chatbots. These chatbots will compete directly with ChatGPT and help Hyper Scalar maintain its dominant position in this market. According to OpenAI, their AI tool ChatGPT reached over one million people in just five days when it was launched in November 2022. The tool can generate human-like text and translation from writing short texts, term papers and writing songs to mathematics Solution problems. But it took much longer for other popular online services to reach the million-user mark. The figures below show the time it took for popular online programs to reach a million views.

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Artificial Intelligence Market Overview: 

Report Coverage 

Details 

Market Revenue in 2023 

$ 285.9 Billion 

Estimated Value by 2031 

$ 1047.0 Billion 

Growth Rate 

Poised to grow at a CAGR of 15.92% 

Forecast Period 

2024–2031 

Forecast Units 

Value (USD Billion) 

Report Coverage 

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends 

Segments Covered 

Offering, Technology, Business Function and Industry

Geographies Covered 

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Report Highlights 

Updated financial information / product portfolio of players 

Key Market Opportunities 

Technological advancements in AI algorithms and hardware are pivotal drivers for the artificial intelligence market’s rapid growth

Key Market Drivers 

The growing adoption of AI across various industries is a significant driver of market expansion

Segments covered in Artificial Intelligence Market are as follows:

OfferingHardware (AI Accelerators, Processors [Central Processing Units, Graphics Processing Units, Field Programmable Gate Arrays and Other Processors], Memory, Networking Hardware), Software (Type [discriminative AI {Classificational Algorithms, Regression Algorithm, Deep Learning Platforms, and Ensemble methods}, Deployment Model {Cloud and On-Premises}, Coding Automation {NO-CODE AI, LOW CODE AI, PRO CODE AI}]), Services (Professional Services [Training & Consulting Services, System integration & Deployment Services and Support & Maintenance Services], and Managed Services)TechnologyMachine Learning (Supervised Learning, Unsupervised Learning, Reinforcement Leaning), Natural Language Processing (Natural Language Understanding [Text-Classification NLP, Name Entity Recognition, Intent Recognition, Relationship Extraction, and Others], Natural Language Generation [Text Summarization, Machine Translation, Language Modelling, Dialogue Generation]), Computer Vision (Object Detection, Image Classification, Semantic Segmentation, Facial Recognition, and Others), Generative AI, Robotics, Autonous & Sensor technology, Context-Aware AI (Context-Aware Recommendation Systems, Multi-modal AI, and Context- Aware Virtual Assistants)Business FunctionMarketing & Sales (Customer Segmentation, Predictive Lead Scoring, Personalized Recommendations, Dynamic Pricing Optimization, Churn Prediction, Sentiment Analysis, Marketing Attribution and Others), Human Resources (Candidate Screening, Employee Retention Analysis, Performance Management, Workforce Planning & Forecasting, Employee Feedback Analysis, Skill Gap Analysis, Diversity & Inclusion Analytics and Others), Finance & Accounting (Fraud Detection, Financial Forecasting, Expense Management, Invoice Processing, Credit Risk Assessment, Regulatory Compliance, Budgeting & Planning and Others (Tax Automation, Financial Reporting Automation)), Operations (Predictive Maintenance, Supply Chain Optimization, AIops, IT Service Management, Quality Control, Route Optimization, Cold Chain Monitoring, Inventory Management, Procurement Automation, Equipment Failure Prediction, and Others), Cybersecurity (Threat Detection & Response, Anomaly Detection, Vulnerability Assessment, Identity & Access Management, Security Automation & Orchestration, Endpoint Protection, Network Traffic Analysis) and OthersIndustryBFSI (Fraud Detection & Prevention, Risk Assessment & Management, Algorithmic Trading, Credit Scoring & Underwriting, Customer Service Automation, Personalized Financial Recommendations, Investment Portfolio Management, Regulatory Compliance Monitoring and Others), Retail & E-commerce (Personalized Product Recommendation, Customer Relationship Management, Visual Search, Virtual Customer Assistant, Price Optimization, Supply Chain Management & Demand Planning, Virtual Stores and Others), Automotive, Transportation & Logistics (Semi-autonomous & Autonomous Vehicles, Route Optimization, Intelligent Traffic Management, Driver Assistance Systems, Smart Logistics & Warehousing, Supply Chain Visibility & Tracking, Fleet Management, Vehicle Diagnostics & Telematics and Others), Government & Defense (Surveillance & Situational Awareness, Law Enforcement, Intelligence Analysis & Data Processing, Simulation & Training, Command & Control, Disaster Response & Recovery Assistance, E-governance & Digital City Services and Others), Healthcare & Life Sciences (Patient Data And Risk Analysis, Lifestyle Management & Monitoring, Precision Medicine, Inpatient Care & Hospital Management, Medical Imaging & Diagnostics, Drug Discovery, AI-assisted Medical Services, Medical Research and Others), Telecommunications (Network Optimization, Network Security, Customer Service & Support, Network Planning & Optimization, Network Analytics, Intelligent Call Routing, Network Fault Prediction, Virtual Network Assistants, Voice And Speech Recognition and Others), Energy & Utilities (Energy Demand Forecasting, Grid Optimization & Management, Energy Consumption Analytics, Smart Metering & Energy Data Management, Energy Storage Optimization, Real-time Energy Monitoring & Control, Power Quality Monitoring And Management, Energy Trading & Market Forecasting, Intelligent Energy Management Systems, Others), Manufacturing (Material Movement Management, Predictive Maintenance & Machinery Inspection, Production Planning, Recyclable Material Reclamation, Quality Control, Production Line Optimization, Intelligent Inventory Management), Agriculture [Crop Monitoring & Yield Prediction, Precision Farming, Soil Analysis & Nutrient Management, Pest & Disease Detection, Irrigation Optimization & Water Management, Automated Harvesting And Sorting, Weed Detection & Management Weather & Climate Monitoring, Livestock Monitoring & Health Management, and Others] and Others), IT/ITes (Automated Code Generation & Optimization, Automated IT Asset Management, IT Ticketing & Support Automation, Intelligent Data Backup & Recovery, Automated Software Testing & Quality Assurance and Others), Media & Entertainment (Content Recommendation Systems, Content Creation & Generation, Content Copyright Protection, Audience Analytics & Segmentation, Personalized Advertising and Others) and Other Verticals

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Segments Redefining the Artificial Intelligence Market

With increasing demand for AI deployment, integration and maintenance services across industries, the service segment is the fastest growing in the global artificial intelligence market as enterprises seek to adopt AI-powered solutions. Many companies such as Accenture, IBM, and Deloitte offer comprehensive AI services that help organizations develop AI strategies, create custom AI models, and integrate AI into business processes.

The fastest growing category is NLP or Natural Language Processing due to its widespread use in various industries, increased demand for conversational AI while virtual assistants and chatbots playing a more important role in enhancing human-computer interaction which has also boosted the market. Transformer models such as GPT-3 and BERT, have greatly improved the capabilities of NLP for greater efficiency and versatility. Companies like Google, Amazon and Apple use NLP extensively for things such as understanding and responding to commands, translating text and speech, analyzing social media posts to predict public sentiment and much more.

The Asia Pacific region in the market is expected to witness the fastest growth during the forecast period. Demand for technology is growing due to increasing investments by many companies in the use of AI. In addition, the Asia Pacific artificial intelligence market is expanding, as AI is applied in a variety of industries, including automotive, healthcare, retail and food and beverage industries.

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/artificial-intelligence-market

AI: Shaping the Future of Industries Worldwide

Artificial intelligence continues to revolutionize industries, driving innovation, efficiency and economic growth. As AI technologies continue to evolve, their roles will become more diverse and impactful. Artificial intelligence has emerged as a transformative force, reshaping industries from healthcare to finance through automation, predictive analytics and personalized experiences. However, to unlock the real potential of Artificial Intelligence, ethical considerations, data privacy, and the need for a skilled workforce must be addressed. AI advancements pave way for innovation, expanded applications and integration into everyday life, paving the way for a smarter, more connected future.

Related Report:

Generative AI Market 

Artificial Intelligence of Things (AIoT) Market

Edge Artificial Intelligence (AI) Market

Mobile Artificial Intelligence (AI) Market

Artificial Intelligence (AI) Hardware Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/

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JAS Worldwide Signs SPA with International Airfreight Associates B.V.

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ATLANTA, Dec. 23, 2024 /PRNewswire/ — JAS Worldwide, a global leader in logistics and supply chain solutions, and International Airfreight Associates (IAA) B.V., a prominent provider of comprehensive Air and Ocean freight services headquartered in the Netherlands, are proud to announce the signing of a Share Purchase Agreement (SPA). This agreement marks an important step toward JAS Worldwide’s acquisition of IAA which, pending regulatory approval, is expected to be completed in the first quarter of 2025.

“This acquisition aligns with our strategic goals and enhances our ability to provide comprehensive logistics solutions to our clients. We eagerly await the finalization of this deal and look forward to welcoming IAA’s talented air and ocean team into the JAS family,” said Marco Rebuffi, CEO of JAS Worldwide.

“In JAS Worldwide we have found the right party to realize our growth ambitions and guarantee a pleasant working environment for our employees. By joining forces, we can also offer an even broader service to our current customers. We therefore look to the future with confidence” said Jur de Graaf, Managing Director of International Airfreight Associates.

IAA handles multi-modal general cargo and specializes in the transportation of perishable goods, with headquarters in The Netherlands and an operation in Germany. This acquisition will strengthen JAS’s presence in key markets and increase its expertise in managing time-sensitive perishable shipments.

The combined strengths of JAS Worldwide and IAA will drive value for customers through enhanced service offerings and a broader global network.

About JAS Worldwide
JAS Worldwide, a global leader in logistics and supply chain solutions, was founded in Milan, Italy in 1978. Headquartered in Atlanta, Georgia, and supported by 7,000+ team members in more than 100 countries, it focuses on creating solutions that are innovative, sustainable, and unique to each customer’s needs. At the heart of its success is its people, who are committed to delivering customer value. As a privately owned company, JAS maintains a steadfast commitment to creating opportunities for our communities, customers, and colleagues to thrive. Together.

About International Airfreight Associates B.V.
International Airfreight Associates B.V. is a trusted provider of airfreight logistics services with headquarters in the Netherlands and additional operations in Germany. With nearly 100 employees across four locations, including Amsterdam, Aalsmeer, Rotterdam, and Frankfurt, the company specializes in moving perishable goods and delivering tailored logistics solutions for a diverse range of clients.

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SOURCE JAS Worldwide

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Orange County Register Names Roth Staffing Companies one of the Top Workplaces for 2024

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This year’s recognition marks Roth Staffing’s twelfth time on the prestigious list.

ORANGE, Calif., Dec. 23, 2024 /PRNewswire-PRWeb/ — Roth Staffing Companies has been named as one of the Top Workplaces 2024 by Orange County Register Top Workplaces, making it their twelfth time to receive this honor. Roth Staffing earned its spot in the midsize category.

“Having established our business here in Orange County more than 30 years ago, this recognition holds a special place in our hearts. We’re thrilled and grateful to once again be named a Top Workplace!” – Adam Roth, CEO of Roth Staffing Companies.

This list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC. The confidential survey uniquely measures the employee experience and its component themes, including employees feeling Respected & Supported, Enabled to Grow, and Empowered to Execute, to name a few.

“Having established our business here in Orange County more than 30 years ago, this recognition holds a special place in our hearts. We’re thrilled and grateful to once again be named a Top Workplace!” shared Adam Roth, CEO of Roth Staffing Companies. “At Roth Staffing, our coworkers take pride in their contributions and are inspired to enjoy the process along the way. It’s their dedication to fulfilling our Purpose, ‘To make life better for the people we serve,’ that has made this achievement possible. Here’s to many more milestones ahead in 2025 and beyond!”

About Roth Staffing
Roth Staffing Companies is one of the largest privately held staffing firms in the United States, operating from more than 100 locations across 20 states and the District of Columbia. Roth Staffing consists of five specialized business lines: Ultimate Staffing Services for administrative and office positions, Ledgent Finance & Accounting,Ledgent Technology, Adams & Martin Group for legal staffing, and About Talent for workforce solutions. 

Roth Staffing Companies, L.P. has locations Arizona: Phoenix; California: Brea, Carlsbad, Century City, Cerritos, Costa Mesa, Fremont, Fresno, Inland Empire, Irvine, La Jolla, Los Angeles, Orange County, Oxnard, Palo Alto, Pasadena, Pleasanton, Roseville, Sacramento, San Diego, San Francisco, San Jose, Torrance, Tustin, Woodland Hills; Colorado: Denver; Connecticut: Hartford, New Haven; Florida: Boca Raton, Clearwater, Fort Lauderdale, Orlando, Tampa, West Palm Beach; Georgia: Atlanta; Massachusetts: Boston; Maryland: Baltimore, Columbia, Frederick, Rockville, Timonium; Michigan: Detroit; Minnesota: Bloomington, Minneapolis; Missouri: St. Louis, Kansas City; North Carolina: Raleigh; New Hampshire: Nashua; New Jersey: Paramus; Nevada: Las Vegas; Oregon: Portland; Texas: Austin, Dallas, Houston, North Houston, San Antonio; Virginia: Arlington; Washington: Wisconsin: Milwaukee. 

About Energage
Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 17 years of culture research and the results from 27 million employees surveyed across more than 70,000 organizations,  Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

Media Contact

Samantha Cabot, Roth Staffing Companies, 714-939-8600, scabot@rothstaffing.com, rothstaffing.com 

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SOURCE Roth Staffing Companies

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Trading Technologies achieves high spot in Chartis Buyside Platforms 2024 Rankings

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Firm also earns “strong category leader” status for Energy and Equity Trade Surveillance Solutions in new Chartis Market Quadrants report

CHICAGO, Dec. 23, 2024 /PRNewswire/ — Trading Technologies International, Inc. (TT), a global capital markets technology platform services provider, has earned the number 12 spot in the Chartis Buyside Platforms 2024 ranking of the top 50 providers of buy-side platforms and technology. The report released this month showcases the leading players in financial infrastructure and highlights providers delivering essential services and tools – including trading networks, market data, prime brokerage services and more – to buy-side market participants. The ranking, which Chartis called a testament of the “commitment to delivering exceptional value and innovation” to that community, provides insights into how the companies are shaping the industry with advanced solutions in asset management, risk assessment and operational efficiency.

Separately, in Chartis’ just-released Market Quadrants report, which provides a detailed evaluation of key providers offering advanced surveillance solutions tailored to the unique needs of the energy and equity markets, TT achieved “strong category leader” status for both energy and equity trade surveillance solutions. In both categories, TT received a four-star rank for “Industry Leading Platform Capabilities.” Of particular note, TT earned “industry-leading” four-star rankings across all measures in the equity surveillance category, including analytics and modeling, pre-trade reporting, post-trade reporting, data infrastructure and database management, and data visualization and ease/speed of access capabilities.

TT CEO Keith Todd said: “With a long history of service to the sell side, we have been working diligently to grow our appeal to buy-side market participants, and we’re incredibly honored to have earned in short order a number 12 ranking on a cultivated list of the top 50 service providers in the buy-side sector. It’s a great accomplishment that our broadening of products, asset classes and services available on the TT® platform – including our expansion from futures trade surveillance to a powerful multi-asset offering – are already achieving industry-leading recognition across important measures.”

Handling over 2.5 billion transactions this year, the TT platform connects to more than 100 global exchanges and liquidity venues across a growing number of asset classes. The platform delivers advanced tools for trade execution and order management, market data solutions, analytics, trade surveillance, risk management and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges.

Buy-side participants leverage a wide range of TT tools to meet their trading needs, including a comprehensive suite of advanced execution algorithms, algo design and deployment tools, Autospreader and APIs. Through Abel Noser Solutions, a TT company, market participants employ a wide range of sophisticated transaction cost analysis (TCA) products and services across global equities, foreign exchange, futures, fixed income and options.

In June, the firm launched TT Trade Surveillance, a multi-asset trade surveillance solution combining new multi-asset coverage and dozens of new configurable models to supplement the machine learning-driven models from TT Score, the company’s first-generation trade surveillance platform. TT Trade Surveillance provides enhanced trade surveillance capabilities to a wide range of asset classes, including futures, equities, equity options, fixed income and foreign exchange (FX). The system has also recently added a new, innovative way to identify cross-product manipulation, where users can input correlated instruments directly into the user interface to create a single synthetic instrument, and utilize the machine-learning spoofing models to identify patterns of spoofing activity across multiple order books.

With this recognition, TT has now been honored globally and regionally 14 times this year for the TT platform, trade surveillance capabilities, algorithmic trading solution, TCA tool, execution management system (EMS), order management system (OMS) and market data services.

About Trading Technologies

Trading Technologies (www.tradingtechnologies.com) is a Software-as-a-Service (SaaS) technology platform provider to the global capital markets industry. The company’s award-winning TT® platform connects to the world’s major international exchanges and liquidity venues in listed derivatives alongside a growing number of asset classes, including fixed income, foreign exchange (FX) and cryptocurrencies. The TT platform delivers advanced tools for trade execution and order management, market data solutions, analytics, trade surveillance, risk management, clearing, post-trade allocation and infrastructure services to the world’s leading sell-side institutions, buy-side firms and exchanges. The company’s blue-chip client base includes the Tier 1 banks as well as brokers, money managers, hedge funds, proprietary traders, Commodity Trading Advisors (CTAs), commercial hedgers and risk managers. These firms rely on the TT ecosystem to manage their end-to-end trading operations. In addition, exchanges utilize TT’s technology to deliver innovative solutions to their market participants. TT also strategically partners with technology companies to make their complementary offerings available to Trading Technologies’ global client base through the TT ecosystem.

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SOURCE Trading Technologies

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