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Artificial Intelligence Market Size Worth $2,172.63 Billion, Globally, by 2031 Growing at 39.1% CAGR | Exclusive Report by The Insight Partners

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NEW YORK, Feb. 20, 2025 /PRNewswire/ — The global artificial intelligence market share is set for explosive growth with a CAGR of 39.1% during 2025–2031, it was valued at $199.47 billion in 2024, with projections indicating a surge to $2,172.63 billion by 2031. This remarkable expansion is driven by growing demand for generative Al.

According to a new comprehensive report from The Insight Partners, “Artificial Intelligence Market Size and Forecast (2021 – 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component, Technology, Industry Vertical, and Geography”, the global artificial intelligence market is observing healthy growth owing to the adoption of artificial intelligence technology by numerous industries across different regions.

For More Information and To Stay Updated on The Latest Developments in The Artificial Intelligence Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00008424/

The artificial intelligence market was valued at US$ 199.47 billion in 2024 and is projected to reach US$ 2,172.63 billion by 2031; it is expected to register a CAGR of 39.1% during 2025–2031.

The report runs an in-depth analysis of market trends, key players, and future opportunities. Trade shows are a robust platform that allows companies to showcase their entire business at one booth, raising company awareness among customers. This is further boosting the market growth.

Market Overview and Growth Trajectory:

Artificial intelligence is used for various purposes across industries such as healthcare, retail and e-commerce, and manufacturing. These industries use AI technology to automate repetitive tasks, enhance accuracy, and accelerate job completion. As a result, it allows staff members to focus on more complex activities alongside increasing their efficiency and production outputs.

For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/artificial-intelligence-market

Growing Demand for Multimodal Al: Multimodal Al is one of the most popular artificial intelligence tools used by businesses in Europe. It leverages machine learning algorithms on modalities such as speech, images, video, audio, text, and traditional numerical data sets. This approach creates a more holistic and human-like cognitive experience. Businesses in Europe are investing in building intelligent systems (BIS) and creating awareness of multimodal Al that improve natural language understanding and analyze diverse data streams, visual perception, and voice recognition to enhance user experiences. For instance, in June 2024, the University of Sheffield organized a Second Workshop on Multimodal AI to bring together researchers and practitioners from AI, data science, and various scientific and application domains to create awareness of multimodal AI. This workshop will feature four keynote speakers from academia and industry—Maria Liakata (Professor of NLP, Queen Mary University of London, Turing AI Fellow), Tian Xie (Principal Research Manager, Microsoft Research AI4Science), Nataliya Tkachenko (Generative AI Ethics & Assurance Lead, Lloyds Banking Group), and Adam Steventon (Director of Data Platforms, Our Future Health)—to discuss problems and difficulties, share experiences and solutions, and explore collaborations and future directions for multimodal AI.

Rising Adoption in the Healthcare Industry: Artificial intelligence is transforming the healthcare sector by improving diagnostics, personalizing treatment regimens, streamlining processes, and lowering costs. Healthcare organizations are using image-based AI models as diagnostic tools, which can speed up interpretation and lead to early disease identification. For instance, in September 2023, Paige AI, Inc. collaborated with Microsoft to develop the world’s largest image-based AI models for digital pathology and oncology to fight cancer. The companies are engaged in developing a new AI model that is larger than any other image-based AI model existing today. Configured with billions of parameters, this model would assist in capturing the subtle complexities of cancer and serve as the foundation of next-generation clinical applications and computational biomarkers pushing the boundaries of oncology and pathology. Further, as stated in July 2024, the European Academies Science Advisory Council (EASAC) and the Federation of European Academies of Medicine (FEAM) are jointly working on projects and case studies to evaluate AI-incorporated healthcare products and services. Hence, a growing number of research and development activities related to the use of AI in the healthcare industry are fueling the market.

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Government Initiatives and Investments to Support Adoption of AI: Government initiatives toward the adoption of AI technology are driving the market. For instance, in January 2024, the European Commission (EU) announced the AI innovation package, which contains numerous initiatives to help entrepreneurs and SMEs in the region create trustworthy AI that adheres to EU principles and standards. EU also set the main GenAI4EU initiative that aims to increase the adoption of generative AI across the Union’s key strategic industrial ecosystems. The initiative encourages the development of large open innovation ecosystems that foster collaboration between AI startups and deployers in the industrial and public sectors. Moreover, government and private organizations are increasingly investing in raising AI adoption in Europe. According to the European Parliamentary Research Service of March 2024, the EU and the UK attracted €9 billion (~US$ 9.35 billion) in private investment in AI technology. EU-based AI firms observed an investment of ~€32.5 billion (US$ 33.78 billion) from 2018 to the third quarter of 2023. These investments provide support to AI companies to assist them in developing and upgrading their AI solutions to expand their customer base in Europe. Similarly, the EU’s Digital Europe program offers a total of €2.1 billion (approximately US$ 2.18 billion) in funding for AI-related projects during 2021–2027.

Geographical Insights: In 2024, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period.

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Artificial Intelligence Market Segmentation, Applications, Geographical Insights:

Based on component, the global artificial intelligence market is segmented into hardware, software, and services. The software segment held the largest market share in 2024.On the basis of organization size, the global artificial intelligence market is segmented into large enterprises and SMEs. The large enterprises segment held the largest market share in 2024.By industry vertically, the global artificial intelligence market is segmented into automotive, healthcare, manufacturing, retail and e-commerce, IT and telecommunications, BFSI, and others. The IT and telecom segment held a larger share of the market in 2024.

Key Players and Competitive Landscape:

The Artificial Intelligence Market is characterized by the presence of several major players, including:

Accenture PlcAdvanced Micro Devices IncGoogle LLCInternational Business Machines CorpIntel CorpMicrosoft CorpNVIDIA CorpAmazon Web Services IncSAP SESAS Institute Inc.

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

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Artificial Intelligence Market Recent Developments and Innovations:

SoftBank Corp. has entered into a strategic partnership with generative AI search startup Perplexity AIIndia’s Advance in AI RegulationThe Arm AI Partner Program brings partners together to collaborate and innovate solutions that help simplify AI deployment across multiple segments.

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Conclusion:

The global artificial intelligence market size is mainly supported by the rise in adoption across various industries, government initiatives, and investment to support the adoption of AI technology, and the burgeoning demand for multimodal AI are a few of the significant factors driving the global artificial intelligence market. Furthermore, increasing investments in industrial automation solutions and the growing popularity of agentic Al is likely to propel the demand for the artificial intelligence market in the future. Technological advancements and integration of advanced technologies such as machine learning, natural language processing (NLP), and robotic process automation (RPA); demand for generative Al; and development of explainable AI (XAI) and AI-powered cybersecurity solutions that reduce operating costs are expected to create opportunities for the market growth during the forecast period.

Asia Pacific region is likely to register the fastest growing CAGR during 2025-2031. This is mainly due to an upsurge in the need for customized AI-based solutions, manufacturers’ focus on developing small language models and open source advancements, and an increase in research and development activities that also benefit the global artificial intelligence market. Moreover, significant benefits offered by AI include 24 × 7 availability, repetitive task automation, fewer human errors, more and faster data insights, reduced physical risks, and enhanced decision-making.

Related Report Titles:

Automotive Artificial Intelligence (AI) Market Size and Forecast (2021 – 2031)Artificial Intelligence (AI) Platform Market Size and Forecasts (2021-2031)Artificial Intelligence in Transportation Market Size and Forecasts (2021 – 2031)Artificial Intelligence in Defense Market Size and Forecasts (2021 – 2031)Artificial Intelligence In Fashion Market Size and Forecasts (2021-2031)

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
Website – https://www.theinsightpartners.com/

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Mission Critical Partners Announces Launch of its Justice Integration Hub in Support of the City of New Orleans

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The $30 million ARPA-funded initiative connects public-safety and justice agencies, accelerates case processing and improves service to the community.

NEW ORLEANS, Oct. 27, 2026 /PRNewswire-PRWeb/ — Mission Critical Partners today announced the launch of its Justice Integration Hub in support of the city of New Orleans’ Justice Technology Modernization Program (JTMP). JTMP is a multiyear initiative that replaced several decades-old systems with a unified, cloud-based platform designed to improve public safety and access to justice by streamlining operations and strengthening transparency across the city and Orleans Parish criminal-justice ecosystem.

“The Justice Integration Hub is not just a technology milestone; it’s a fundamental shift in how justice is delivered,” said Darrin Reilly, president and CEO, Mission Critical Partners.

The Justice Integration Hub facilitates the seamless flow of information throughout the Parish’s complex criminal-justice ecosystem. Funded through a $30 million allocation from the American Rescue Plan Act (ARPA), JTMP represents one of the most comprehensive justice technology overhauls in the country, modernizing and transforming more than 40 years of legacy infrastructure. The program integrates the area’s entire criminal justice ecosystem — including the New Orleans Police Department, Orleans Parish Sheriff’s Office and Justice Center, District Attorney, Public Defender, Criminal District Court, and Clerk of Court — into a single, connected environment.

“The integration hub fundamentally changes how our justice agencies work together,” said Nathaniel Weaver, JTMP director. “Instead of information stopping at the boundaries between agencies, it can move securely in real time, allowing people to spend less time reentering data and more time making the decisions that move cases forward.”

From Fragmentation to Real-Time Coordination

For years, criminal-justice agencies in New Orleans and Orleans Parish operated on outdated, siloed systems that limited collaboration, slowed case processing, and created cross-department inefficiencies.

The Justice Enterprise Hub is built on Microsoft Azure and leverages a standardized enterprise data model aligned with national data-sharing models. A secure integration hub enables real-time data sharing across agencies, ensuring that critical information is accessible when and where it is needed.

Immediate Impact Across the Community

The Justice Enterprise Hub already is helping to deliver measurable improvements:

Patrol officers now have additional hours each week to spend in New Orleans communities and respond to emergencies due to more efficient digital arrest-processing workflows.Data sharing from the jail to the court facilitates automated creation of cases and scheduling of court appearances, saving approximately 6,000 hours of time clerks would spend on data entry.Faster information sharing between agencies is helping reduce hearing delays, streamline inmate transport coordination, and improve overall justice system efficiency. This significantly reduces incarceration costs and generates measurable operational savings.

A Foundation for the Future of Justice

With the core platform now fully operational, New Orleans and Orleans Parish are positioned to build on this foundation with advanced capabilities, including AI-assisted case processing, digital evidence management, and expanded state-level data integration.

“The Justice Integration Hub is not just a technology milestone; it’s a fundamental shift in how justice is delivered,” said Darrin Reilly, MCP’s president and CEO. “New Orleans and Orleans Parish now have a nation-leading, scalable, and future-ready system that enables agencies to work together more effectively and collaboratively to better serve the public. We look forward to bringing this solution to more communities across the nation.”

The system was implemented in four phases, following a competitive nationwide process that selected Mission Critical Partners and Major Services, a New Orleans-based IT consulting firm, to oversee JTMP’s development, implementation, and coordinated go-live activities across all participating agencies. Those four phases went live in succession, between November 2025 and April 2026.

About Mission Critical Partners (MCP)

Mission Critical Partners (MCP) is a leading provider of data integration, consulting, network, and cybersecurity solutions specializing in transforming mission-critical communications networks into integrated ecosystems that improve outcomes in the public-safety, justice, healthcare, transportation, and utility markets. Our comprehensive experience and vendor-agnostic approach help us develop modernized solutions that maximize value, improve efficiency, and mitigate risk. Additional information and career opportunities are available at MissionCriticalPartners.com.

Media Contact

Morgan Sava, Mission Critical Partners, 1 608-658-8858, rscarpino@pipitone.com, https://www.missioncriticalpartners.com/

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SOURCE Mission Critical Partners

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MadeAi Launches Dossier Expert, Bringing Agentic AI to Formulary and Value Dossier Development

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New AI-powered solution transforms dossier creation and maintenance with source-level traceability, cross-functional collaboration, and up to 70% faster authoring and updates

CAMBRIDGE, Mass., Oct. 27, 2026 /PRNewswire-PRWeb/ — MadeAi™, a leader in AI-enabled evidence synthesis and life sciences solutions, today announced the launch of MadeAi Dossier Expert, a new AI-powered solution designed to transform how pharmaceutical and life sciences organizations create, review, and maintain formulary and value dossiers.

Traditionally, developing AMCP dossiers, global value dossiers, and health technology assessment (HTA) submissions requires months of coordination across HEOR, Clinical, Market Access, and Medical Writing teams. Evidence is dispersed across multiple sources, citations require extensive manual verification, and updates often trigger lengthy rounds of rewriting and review.

Dossier Expert replaces this fragmented process with a living, evidence-linked document that evolves as the underlying science changes.

Built to address one of the most time-consuming challenges facing Market Access and HEOR teams, Dossier Expert brings evidence management, AI-assisted authoring, citation verification, and cross-functional collaboration into a single, continuously updated environment.

From Static Documents to Living Evidence

Unlike traditional dossier authoring approaches that focus primarily on accelerating initial drafts, Dossier Expert is designed to streamline the entire dossier lifecycle—from first creation through ongoing evidence updates.

Key capabilities include:

AI-Powered Dossier Generation: Create structured AMCP, HTA, and value dossiers using customizable templates and AI-generated, evidence-grounded content.One-Click Citation Verification: Trace every AI-generated claim directly to its source document, with the supporting passage highlighted for immediate verification.Intelligent Evidence Updates: Automatically identify sections affected by changes in underlying evidence and selectively regenerate outdated content without overwriting human edits.Integrated Evidence Hub: Organize and connect indexed source materials directly to relevant dossier sections.Integrated MadeAi-LR: Access AI-enabled literature review directly for in-platform literature review support.Seamless Collaboration: Enable HEOR, Clinical, Market Access, and Medical Writing teams to work within one document, with built-in commenting, assignments, approvals, and version control.Flexible, Submission-Ready Outputs: Export approved dossiers to Word or PDF.

Accelerating Market Access Without Compromising Scientific Rigor

Dossier Expert is designed to deliver up to 70% faster dossier authoring and updates, while reducing the manual effort associated with evidence verification, document management, and recurring revisions.

“Creating a dossier is only part of the challenge. Keeping it scientifically current, fully traceable, and aligned across multiple stakeholders is where organizations lose enormous amounts of time,” said Gaugarin Oliver, Founder and CEO of MadeAi. “With Dossier Expert, we’re moving beyond AI-generated first drafts to a fundamentally different model: a living dossier that connects every claim to its evidence, identifies what needs updating, and enables experts to focus on scientific judgment rather than document administration.”

By combining AI-powered efficiency with human oversight and transparent source verification, Dossier Expert helps life sciences organizations accelerate evidence communication while maintaining the rigor required for payer and HTA engagement.

Learn more about Dossier Expert at www.madeai.com.

About MadeAi

MadeAi™ is an award-winning AI-native evidence synthesis and life sciences solutions platform designed to help pharmaceutical, biotechnology, and medical device organizations accelerate evidence generation and scientific communication. Combining advanced agentic AI capabilities with human expertise, MadeAi supports workflows across HEOR, Market Access, Medical Affairs, and RWE, delivering greater efficiency, transparency, and scientific rigor.

Media Contact

Meghan Oates-Zalesky, MadeAi, 1 617 435 2470, meghan.oates@madeai.com, www.madeai.com

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SOURCE MadeAi

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Peloton Launches Peloton Broker to Streamline Early-Stage Land Acquisition for Energy Projects

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New tract-based pre-leasing tool joins the
Land Data Management solution in the Peloton Platform

CALGARY, AB, Oct. 27, 2026 /PRNewswire/ — Peloton, a provider of energy data management software, today announced the launch of Peloton Broker, a tract-based pre-leasing management tool built for energy projects. Peloton Broker gives brokers, consultants, land departments, and legal teams one place to handle ownership discovery, negotiation tracking, and title curative work, so they can move from prospect to signed lease without re-entering data or juggling separate systems.

Peloton Broker is part of Peloton’s Land Data Management solution in the Peloton Platform, alongside LandView, LandView Map, and Peloton Dashboards. It extends Peloton’s trusted foundation to the earliest stage of land acquisition, with pre-leasing work carrying straight into agreement-based lease management in LandView.

“The pre-leasing stage has always been where land data is most scattered, with ownership research in one place, negotiation notes in another, and title issues surfacing late,” said James Hatcher, Product Manager – Land Data Management at Peloton. “Peloton Broker brings that work into the Peloton Platform from day one, so land teams start every lease with a complete picture and the rest of the organization gets land data it can trust.”

Built for the start of the lease lifecycle

Peloton Broker helps land teams at oil and gas operators and renewable energy developers:

Track ownership at the tract level, covering both surface and mineral rightsManage negotiations in integrated workflows that record every offer, contact, and status changeCatch title concerns early with title curative support, before they hold up executionWork from the map with GIS-driven prospect management connected to LandView MapKeep audit-ready records with full traceability from first contact to executed lease

Connected across the Peloton Platform

The Peloton Platform is a SaaS solution hosted by Microsoft Azure that brings well, production, and land data together in one environment. With Peloton Broker on the platform, customers get:

A single source of truth. Land, operations, and finance teams work from the same accurate, up-to-date information, with master data such as business associates, wells, and units shared across products.Linked lifecycles. Land data ties into well and production data in WellView and ProdView, and integrates with third-party ERP and financial systems.Enterprise-grade security, backed by Peloton’s SOC 1 and SOC 2 Type 2 certifications.

Peloton Broker is available now. To learn more, visit peloton.com/products/land-data-management/broker.

About Peloton

Headquartered in Calgary, Alberta, and founded in 1991, Peloton created the energy industry’s original data management solution, and it remains the standard today. With more than three decades of industry expertise and over 700 clients globally, Peloton offers software across the well, production, and land lifecycles. The Peloton Platform brings all three together in one integrated SaaS environment, hosted by Microsoft Azure.

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SOURCE Peloton Computer Enterprises Ltd.

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