North American Tech Giants Drive Booming Narrow AI Market Despite Talent Shortages
• Global AI market size to grow by $125.3 billion from 2022-2027 at a 22.26% CAGR • Growth driven by AI's role in preventing fraud and cyber attacks • North America to contribute 56% market share due to heavy investments by tech giants • Shortage of AI experts is a major challenge, hampering adoption • Narrow AI (weak AI) for specific tasks is a key trend, exemplified by Siri and IBM Watson