Report Format:  
| Pages: 110+
Type: Niche Industry Monitor
| ID: AI422
| Publication: June 2024
|
US$925 |
The emergence of consumer-facing generative AI tools in late 2022 and early 2023 has significantly reshaped public discourse regarding AI's capabilities. While generative AI had garnered attention from experts since the introduction of GPT-2 in 2019, its transformative potential for enterprises is now unmistakable. This pivotal moment is poised to have far-reaching consequences, shaping economies and industries for years to come. According to estimates by DataCube Research, Canada generative AI market is projected to contribute more than US$ 20 billion opportunity between 2023 and 2032 to the global economy, representing a 4X increase in the overall economic impact of AI. With generative AI accelerating the pace of automation, it is anticipated to automate half of all work within the next few decades. Additionally, we predict 6-8% increase in global GDP attributed to generative AI, with approximately two-thirds of Canadian occupations expected to be influenced by AI-powered automation.
Our Canada generative AI market insights booklet services explore the latest trends and thinking among CIOs and experts from various sectors, emphasizing the necessity of flexible, scalable, and efficient data infrastructure to propel the generative AI era forward. In 2023, a survey revealed that although AI was acknowledged as strategically significant, the ambitions of CIOs were modest, with only 18% aiming for "enterprise-wide" AI implementation by 2025, despite 90% of organizations utilizing AI in some capacity. However, the rise of generative AI tools heralds a transformative shift, democratizing AI across enterprises and engaging every facet, from internal operations to customer interactions. Chief Information Officers and technical leaders now face the imperative of embracing generative AI to remain competitive, alongside making strategic decisions about data infrastructure, model ownership, workforce structure, and AI governance.
Major companies operating in the Canada generative AI market are Adobe, Alphabet (Google), Amazon (AWS), Anthropic, Hugging Face, IBM, Inflection AI, Jasper, Meta, Microsoft, MOSTLY AI, NVIDIA, C3.ai, Cohere, Databricks, Glean, OpenAI, Stability AI, and Synthesia. These prominent players in Canada Generative AI industry are focusing on innovative solutions and strategic partnerships. They emphasize AI-driven creativity and cloud services, ensuring scalability and ethical practices. Also, these companies prioritize research and development, catering to diverse industries with user-centric approaches and data privacy measures.
This research report on the Canada generative AI market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.
Analysis Period |
2019 – 2032 |
Actual Data |
2019 – 2023 |
Base Year |
2023 |
Estimated Year |
2024 |
CAGR Period |
2024 – 2032 |
Research Scope |
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Component |
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Deployment Model |
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Business Function |
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Technique |
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End User |
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