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The sector could expand at a rate of 42% over ten years — driven first by the demand for infrastructure necessary to train AI systems and then the ensuing devices that use AI models, advertising and other services, according to a new report by Bloomberg Intelligence.
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“The world is poised to see an explosion of growth in the generative AI sector over the next ten years that promises to fundamentally change the way the technology sector operates,” Singh said in a statement Thursday. “The technology is set to become an increasingly essential part of IT spending, ad spending and cybersecurity as it develops.”
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