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Generative AI, a form of artificial intelligence that’s capable of generating and creating new content such as text, photos, audio, video, and animations on-demand, is currently exploding in consumer popularity and uptake. Poised to balloon from a $42.6 billion market in 2023 to a $98.1 billion market by 2026, widespread interest in the space is quickly spilling over into and revolutionizing the business world as well by popular demand. Enter enterprise-grade generative AI solutions, which are helping drive significant leaps in revenue and business outcomes by, for example, better contextualizing, personalizing, and enhancing every customer engagement and interaction. Small wonder the field is currently experiencing a surging 34.6 compound annual growth rate (CAGR), as executive leaders increasingly grasp this technology’s potential, for example, to enhance the performance of legal-, marketing-, communications- and sales-related efforts at scale.
