The artificial intelligence market surpassed $184 billion in 2024, a huge jump of nearly $50 billion from 2023. This meteoric growth is expected to continue, with the market surpassing $826 billion in 2030.
AI requires data
Data management remains the hardest task in AI-related infrastructure. This challenge takes many forms for AI companies. Some require more specific data, while others have difficulty maintaining and organizing the data their company already has. Large international bodies like the EU, US and China all have limits on the amount of data that can be stored outside their borders. Together, these organizations pose significant challenges to data-intensive AI companies.
AI could boost productivity growth
Both in terms of productivity and workforce developments, the United States will likely be greatly impacted by AI adoption. This impact does not have to be purely negative. Labor turnover, if managed correctly, can quickly move workers to more productive and value-added sectors rather than just manual labor sectors. In turn, these industrial changes will lead to a more productive economy. Indeed, AI could boosting labor productivity growth in the United States over a period of 10 years. Of course, this depends on various factors, such as the power of the next generation of AI, the difficulty of the tasks it will be able to perform, and the number of displaced workers.
