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Artificial Intelligence (AI) Market to grow by USD 237.4 Billion (2024-2028), Fraud Prevention and malicious attacks Drives Growth, Report Explores Market Evolution Powered by AI – Technavio

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NEW YORK, Feb. 4, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global Artificial intelligence (AI) market size is estimated to grow by USD 237.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  30.07%  during the forecast period. Prevention of fraud and malicious attacks is driving market growth, with a trend towards increase in cloud-based ai services. However, shortage of ai experts  poses a challenge. Key market players include Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc., Clarifai, Inc., Cyrcadia Health, Enlitic, Inc., Google LLC, H2O.ai, HyperVerge, Inc., International Business Machines Corporation, IBM Watson Health, Intel Corporation, Iris.ai AS, Lifegraph, Microsoft, NVIDIA Corporation, Sensely, Inc.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Artificial Intelligence (Ai) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 30.07%

Market growth 2024-2028

USD 237.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

23.17

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 56%

Key countries

US, China, Germany, UK, and France

Key companies profiled

Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc., Clarifai, Inc., Cyrcadia Health, Enlitic, Inc., Google LLC, H2O.ai, HyperVerge, Inc., International Business Machines Corporation, IBM Watson Health, Intel Corporation, Iris.ai AS, Lifegraph, Microsoft, NVIDIA Corporation, Sensely, Inc.

Market Driver

Artificial Intelligence (AI) is revolutionizing businesses across various sectors with trends like deep learning, data analytics, and data science leading the way. Deep learning techniques and machine learning algorithms are powering advancements in computer vision and natural language processing. Cognitive solutions, cloud computing, and cognitive computing are transforming industries such as healthcare, banking, and e-commerce. Ethical and regulatory concerns, privacy issues, and bias in algorithms are key challenges. AI is disrupting job markets, requiring skilled professionals in software engineering and data science. Automation through robotics, chatbots, and virtual assistants is enhancing customer experiences. Edge AI and IoT are driving innovation in IT and telecommunication. Pretrained models and customizable AI are making AI accessible to businesses of all sizes. Biopharmaceutical companies, financial firms, and retailers are leveraging AI for trend forecasting, fraud prevention, and workflow management. Cutting-edge technology from tech giants and next-generation tech fields like SaaS, open-source AI platforms, and hardware are fueling the growth of the AI market. 

Artificial Intelligence (AI) is revolutionizing business operations by enabling advanced automation and analytics. Companies are adopting AI for various applications such as recommendation engines, pricing optimization, lead generation, chatbots, and supply chain optimization. However, implementing AI in an on-premises data center requires substantial computer and data storage capabilities. Developing in-house AI products can be costly, leading many businesses to consider cloud-based solutions instead. By leveraging AI, companies can improve efficiency, enhance customer experience, and gain a competitive edge. 

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 Market Challenges

•         The Artificial Intelligence (AI) market is experiencing rapid growth, with deep learning, data analytics, and data science at its core. Businesses in various sectors including healthcare, banking, e-commerce, and IT & telecommunication are leveraging AI for cognitive solutions, computer vision, and natural language processing. However, challenges such as data management, ethical concerns, regulatory issues, and privacy concerns persist. Advanced techniques like machine learning algorithms, deep learning techniques, and generative AI are driving innovation in areas like conversational AI, robotics, and edge computing. SaaS companies and tech giants are leading the way in next-generation tech fields, while open-source AI platforms offer customizable solutions. Pretrained models and AI marketplaces are simplifying access to AI for businesses. In industries like finance, cybersecurity, and legal, AI is revolutionizing fraud prevention, workflow management, and trend forecasting. The future of AI is bright, with advancements in hardware, software, and data storage enabling parallel processing and on-premises solutions. However, job displacement and bias in algorithms are significant concerns that need to be addressed. Skilled AI professionals are in high demand to meet the evolving needs of businesses.

•         Many businesses express interest in implementing Artificial Intelligence (AI) solutions, but face challenges in doing so due to resource constraints. AI applications, such as machine learning and deep learning, necessitate access to substantial data sets, specialized infrastructure, and significant processing power. Moreover, employing a team of AI experts is essential for successful implementation. However, the competition for top AI talent is intense, making recruitment challenging. Additionally, companies must carefully consider the appropriate use cases for AI algorithm deployment before investing in large-scale implementation. These requirements demand substantial investments, making AI an expensive and elusive solution for most businesses.

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Segment Overview 

This artificial intelligence (ai) market report extensively covers market segmentation by  

Component 1.1 Software1.2 Hardware1.3 ServicesEnd-user 2.1 Retail2.2 Banking2.3 Manufacturing2.4 Healthcare2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and AfricaTechnology

1.1 Software-  Artificial Intelligence (AI) market growth is driven by the increasing use of AI software by developers to create intelligent applications. These tools, including algorithms, libraries, frameworks, and developer kits, enable the integration of machine learning and speech recognition capabilities into software. The adoption of AI in software development is becoming standardized, enhancing employee experience and automating manual tasks. Companies benefit from improved efficiency and better decision-making, while software engineers develop solutions for various sectors, such as corporates, using AI software. The reliance on AI software is expected to continue growing, fueling the expansion of the AI market.

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Research Analysis

Artificial Intelligence (AI) is a next-generation tech field that leverages deep learning techniques, machine learning algorithms, and cognitive solutions to enable systems to learn and perform tasks that typically require human intelligence. Deep learning, a subset of machine learning, uses neural networks and large datasets for training. Data analytics and data science are crucial components, providing the foundation for deriving insights from big data. Software engineering, algorithms, and intelligence standards ensure the development and implementation of reliable AI systems. Cloud computing, hardware, and data storage facilitate the deployment and processing of AI applications. Computer vision and natural language processing enable machines to interpret and understand visual and textual data. AI is transforming various industries, including healthcare, with automated image diagnostic and fraud prevention systems. Tech Giants, SaaS companies, and open-source AI platforms are driving the adoption of AI in diverse sectors. Parallel processing and on-premises solutions cater to specific use cases and performance requirements. Pretrained models accelerate the development of AI applications, while machine learning algorithms continue to evolve, pushing the boundaries of what’s possible.

Market Research Overview

Artificial Intelligence (AI) is a cutting-edge technology that encompasses deep learning, data analytics, data science, software engineering, cognitive solutions, and various techniques such as computer vision, natural language processing, and algorithms. It’s transforming industries like healthcare, banking, e-commerce, and more, with applications ranging from chatbots and virtual assistants to robot-assisted surgery and automated image diagnostics. AI is powered by supercomputers and quantum computers, with machine learning algorithms and big data analysis at its core. However, ethical and regulatory concerns, privacy issues, bias in algorithms, and job displacement are significant challenges. Skilled AI professionals are in high demand, and automation, robotics, and edge AI are driving innovation. AI is also being used in IT and telecommunication, retail & e-commerce, agriculture, media and entertainment, finance & accounting, cybersecurity, legal and compliance, and operation. Pretrained models, customizable AI, and AI marketplaces are making AI more accessible, while biopharmaceutical companies and private sectors are leveraging AI for fraud prevention, workflow management tools, trend forecasting, and financial firms. Conversational artificial intelligence is revolutionizing customer service, while next-generation tech fields like generative AI, open-source AI platforms, and hardware and software are pushing the boundaries of what’s possible.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareHardwareServicesEnd-userRetailBankingManufacturingHealthcareOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaTechnology

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

View original content to download multimedia:https://www.prnewswire.com/news-releases/from-remote-racing-to-embodied-ai-fibocom-and-intedigo-bring-5g-bidirectional-data-transmission-into-real-world-applications-302828996.html

SOURCE Fibocom Wireless Inc.

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DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

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