Generative AI Services Market Definition
The generative AI services market refers to the production, distribution, and utilization of these services which is a field of artificial intelligence (AI) that focuses on creating models and systems that are capable of generating new content like music, text, videos, or images. It is also known as generative artificial intelligence or gen AI. There is a high demand for these services in sectors like media and entertainment, financial services, software development, manufacturing, marketing, advertising, pharmaceutical, and healthcare which drive the growth of the generative AI services market.
- These services can learn programming languages, learn human languages, biology, chemistry, art, or any complex subject matter.
The challenging factors of the market include integration issues, high initial investment, the presence of alternative products, changing costs of raw materials, and regulatory hurdles that can hamper the growth of the market. The future scope of the market includes innovation in neural networks and deep learning, increasing demand for customized and personalized solutions, increasing use of services in the media and entertainment industry, and increasing use of AI-based systems across many industries which will help the growth of the generative AI services market.
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