Vancouver, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The global Artificial Intelligence Trust, Risk and Security Management (AI TRiSM) market size was USD 1.72 Billion in 2022 and is expected to register a steady revenue CAGR of 16.2% during the forecast period, according to latest analysis by Emergen Research. Increasing government initiatives towards implementing AI technology in various industries, especially in the BFSI sector, rising advancements in Machine Learning (ML), Natural Language Processing (NLP), and Deep Learning (DL) algorithms, stringent government regulations toward ethical AI implementation are key factors driving market revenue growth.
With the aid of AI TRiSM framework, the trendy generative and adaptive AIs as well as other potential risks connected with implementing AI technology in enterprises are discovered, monitored, and minimized. By using this strategy, organizations may ensure compliance with all relevant laws and data protection regulations. TRiSM ensures that AI models produce the intended results through the use of features such as data encryption, secure data storage, and multi-factor authentication. IT leaders are currently deploying newer AI TRiSM capabilities to ensure model reliability, trustworthiness, privacy, and security. In addition, AI rules are becoming increasingly important to put systems in place that provide consumer safety, confidence, and openness. With the introduction of AI TRISM and safe regulatory requirements, several businesses, including the programmatic advertising sector, will experience tremendous growth, greatly improving the experience for both advertisers and consumers.
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However, concerns surrounding data security, and complexity of such robots as well as high cost regarding maintenance and training data preparation are key factors, which could restrain market revenue growth. The training data is susceptible to biased or factually wrong responses, which can be a severe issue when people rely on these bots for information. In addition, privacy concern since user data is frequently stored for model training in generative AI is another factor, which could restrain market revenue growth.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 1.72 Billion |
| CAGR (2023–2032) | 16.2% |
| Revenue Forecast To 2032 | USD 7.74 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019-2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Component type, deployment mode, enterprise size, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | SAP SE, IBM Corporation, Oracle Corporation.., ARTHUR., Verta, RSA Security LLC., ROBOKITS INDIA, SAS Institute Inc., ServiceNow., and AT&T Intellectual Property |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global AI TRiSM market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective AI TRiSM solutions. Some major players included in the global AI TRiSM market report are:
- SAP SE
- IBM Corporation
- Oracle Corporation
- ARTHUR
- Verta
- RSA Security LLC.
- Accenture
- SAS Institute Inc.
- ServiceNow
- AT&T Intellectual Property
Strategic Development
- On 25 April 2023, Google announced the usage of Large Language Models (LLMs) to improve cybersecurity. Google has unveiled the Google Cloud Security AI Workbench, an extendable platform that is powered by the Sec-PaLM security LLM. In addition to impacted assets and suggested mitigations, this will aid in translating intricate attack graphs into explanations of attack exposure that are understandable to humans. In addition, it will have partner plug-in interfaces to offer consumers threat intelligence, workflow, and other essential security features.
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Some Key Highlights From the Report
- The solutions segment accounted for largest revenue share in the global AI TRiSM market in 2022. This is because risk monitoring, alerting, and action are made easier by AI TRiSM solutions, which manage risk and ensure that AI technology carries out its intended tasks in a trustworthy, efficient, just, and secure manner. Security issues, data breaches, and other dangers can jeopardize the effectiveness and integrity of AI systems. It is necessary to control these risks to maintain the dependability and trustworthiness of AI systems. These systems use threat intelligence reports for pattern recognition and threat visibility, integrating key security technologies for seamless workflows and shared insights. Implementing AI TRiSM solutions safeguards data utilized by AI models and applies various data protection techniques for various use cases and their constituent parts. For instance, Explainable AI (XAI) solutions provide traceability which enables stakeholders to uncover capabilities gaps and enhance its performance with the black box-like aspect of conventional AI systems.
- The retail & E-commerce segment is expected to register at a steadily fast revenue growth rate in the global AI TRiSM market during the forecast period. This is due to increasing use of AI by ecommerce companies in various business processes that support a number of ecommerce apps, from fraud detection to tailored product suggestions. AI can potentially be used to stop e-commerce fraud. In addition, AI algorithms can identify and flag questionable behavior by examining trends in customer behavior and transactions, which lowers the likelihood of fraudulent transactions and chargebacks. AI assists in fraud detection by evaluating vast amounts of transactional data and spotting trends suggestive of illegal activity. companies may save money while gaining the trust of their customers by detecting and stopping fraudulent behaviors, such as bogus returns or sales, using generative AI algorithms. Through a series of algorithms, it can also locate illegal vendors and counterfeit goods in the market, assisting brands in maintaining their brand identity.
- The North America market accounted for largest revenue share in in the global AI TRiSM market 2022. This is attributed to increasing government initiatives and funding in the field of AI TRiSM, as well as consumer interest and rapid adoption of AI TRiSM applications such especially in the U.S.. For instance, on 21 July 2023, U.S. government announced that it has obtained voluntary commitments from these businesses to advance the development of AI technology in a safe, secure, and transparent manner. It is the obligation of the businesses creating these cutting-edge technologies to make sure their goods are secure.
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Emergen Research has segmented the global AI TRiSM market on the basis of component type, deployment mode, enterprise size, end-use, and region:
- Component Type Outlook (Revenue, USD Billion; 2019-2032)
-
- Solution
- AI Governance and Compliance
- AI Bias Detection and Mitigation
- AI Security and Anomaly Detection
- Explainable AI (XAI)
- Privacy Management
- Software
- Solution
- Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
-
- Cloud-based
- On-premises
- Enterprise Size Outlook (Revenue, USD Billion; 2019-2032)
-
- Large Enterprise
- Small and Medium-sized Enterprise (SME)
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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