Global AI market predicted to reach nearly $1 trillion by 2028

The financial outlook for the global artificial intelligence market looks pretty good in 2021. But that's nothing compared to the expansion experts expect to see over the next seven years. According to a recently released analysis report from Grand View Research, the AI market is expected to reach nearly $100 billion in 2021 and nearly ten times that by 2028. The global AI market is expected to grow at a compound annual growth rate of 40.2% from 2021 to 2028 to reach USD 997.77 billion by 2028. This is based on numerous data points, but the most indicative might be the year-over-year growth we're seeing from 2020 (where the market was evaluated at approximately $60 billion) to this year's predicted evaluation of just shy of $100 billion.