Artificial intelligence (AI) may be an emerging technology, but there are plenty of billion-dollar companies in this space. As the market has grown over the past few years, AI technology has made strong inroads into several key industries, including logistics, manufacturing, finance, healthcare, customer service and cybersecurity. While AI-driven advancements in robotics have received the most press in recent years, the latest buzz has centered around OpenAI’s ChatGPT. This intelligent chatbot shows how quickly generative AI is advancing, and has attracted the attention of heavyweight technology companies such as Microsoft (NASDAQ:MSFT), which has reportedly invested billions of dollars in the privately held OpenAI. Alphabet (NASDAQ:GOOGL) has also released its own AI chat tool, Google Gemini. On a global scale, Fortune Business Insights predicts that the AI industry will experience a compound annual growth rate of 20.2 percent between 2024 and 2032 to reach a market value of more than US$2.74…
