Generative AI, or GenAI, is the hot technology of the moment, gaining traction with both enterprises and individual users.
Bloomberg Intelligence research in a June 2023 report says the generative AI market is poised to expand dramatically over the next 10 years, rising to $1.3 trillion from a market size of $40 billion last year. The report says market growth is being driven by training infrastructure in the short term, and this will gradually shift to inference devices for large language models (LLMs), digital ads, and specialized software and services in the longer term.
