Artificial Intelligence
Yidu Tech Announces Results for the First Half of FY2023: Adjusted Net Loss Narrowed down 30.3% YoY, Strategic Focus Enhanced Business Resilience
Yidu Tech Inc. (“Yidu Tech” or “the Company”, together with its subsidiaries and consolidated affiliated entities, “the Group”, HKEx: 2158), a leading corporate in China’s healthcare intelligence industry, announced the interim results for the six months ended 30 September 2022 (“the first half of FY2023” or “the Reporting Period”).
Despite the challenging and uncertain external environment, the Group remained committed to improving profitability with a strategic focus. The Group continues to focus on applying digital and intelligent applications to multiple use-case scenarios, concentrating on key disease research areas such as solid tumors, hematology, ophthalmology and immunology to further strengthen its core competence, improve customer experience and increase customers’ average transaction value. During the Reporting Period, the Group reported a total revenue of RMB474.4 million and adjusted net loss narrowed to RMB224.8 million, a decrease of 30.3% year-on-year. Total operating expense as a percentage of revenue decreased by 32.1 percentage points.
Ms. Gong Yingying (Rujing), Chairlady and Founder, Executive Director and Chief Executive Officer of Yidu Tech, stated, “The Group has taken proactive and effective measures to enhance operational efficiency and has successfully narrowed its loss and adjusted net loss significantly during the Reporting Period, which is a testament to the effectiveness of our business development strategy. We expect a continued improvement in operation efficiency going forward, and we will continue to make progress toward achieving profitability. Yidu Tech will adhere to its original vision of ‘green healthcare’, continue to enhance its core technology capabilities, and deepen its efforts in the three scenario categories of research, diagnosis and treatment, and public health, in order to create more value in the healthcare intelligence industry.”
Deep cultivation of three major scenarios with strategic focus on aiding commercialization
During the Reporting Period, Yidu Tech proactively enhanced its profitability with a strategic focus on four major areas: business, customers, diseases and organization.
In terms of business, Yidu Tech continues to focus on scenarios in three major categories, namely research, diagnosis and treatment, and public health. The Company promotes multi-scenario applications based on the three categories, achieving scenario-driven optimization of intelligence. Driven by innovation, the Group continuously upgrades its portfolio of high-quality professional products and services to meet the diverse demands of its core customers.
In terms of customers, Yidu Tech focuses on serving core hospitals and core pharmaceutical companies with high revenue retention. In the Big Data Platform and Solutions (“BDPS”) segment, the Company upgraded and launched the All Disease Data Platform, which facilitates the DIY creation of disease registries by hospitals. In addition, in the Life Science Solutions (“LSS”) segment, the revenue retention rate for the top 10 clients reached 119%.
In terms of diseases, during the Reporting Period, the Group concentrated on key disease research areas including solid tumors, hematology, ophthalmology and immunology. Regarding organization, based on the intelligent “medical brain” YiduCore and the overlapping applications of its core capabilities, Yidu Tech continued to enhance the synergy among the three business segments and to increase customer awareness. Meanwhile, the Group continuously improved the business penetration and internal operating efficiency, and continued to reduce the ratio of total operating expense to revenue during the Reporting Period, which was brought down by 32.1 percentage points year-on-year.
Continuous Technological Innovation to Drive the Development of the Healthcare Intelligence Ecosystem
Guided by the national strategy of high-quality development driven by innovation, the “14th Five-Year Plan” and the “Healthy China 2030” policy, China has put in place series of policies to encourage scenario-driven proprietary innovation. As a leading corporate in the healthcare intelligence industry, Yidu Tech has continuously improved its capabilities in independent R&D and innovation, focusing on solving the pain points faced by the healthcare industry as it undergoes an intelligent transformation.
Over the years, Yidu Tech has independently developed YiduCore which consists of algorithms and insightful medical knowledge that are continuously accumulated and constantly iterated as the Group expands its use-case scenarios with proper authorization. In the first half of FY2023, Yidu Tech continued to invest resources in cooperation with renowned hospitals and experts, to continue empowering its ability to build and enrich a disease labelling system that encompasses various fields of diseases. As of 30 September 2022, YiduCore’s medical knowledge graph covers over 80,000 medical objects, of which the number of diseases covered by the disease knowledge graph has exceeded 10,000, an increase of over 1,000 compared to six months earlier.
With YiduCore’s strong data processing capabilities and AI algorithms, as well as its accumulated medical knowledge, insights and disease models, Yidu Tech has undertaken a total of 19 scientific research projects with its partners, including renowned hospitals, regulators and universities, of which 8 are national-level research projects sponsored by the Ministry of Science and Technology of China and other national ministries. As of 30 September 2022, the effectiveness and accuracy of its pandemic response and prediction algorithms have been validated in 22 cities.
In terms of privacy protection, the Company participated in the preparation of the Research Report on the Application of Privacy Computing (2022) issued by the Institute of Cloud Computing and Big Data of the China Academy of Information and Communication Technology (CAICT). In addition, by virtue of its outstanding remote operation and maintenance technology, Yidu Tech obtained the Certificate of Remote Operation and Maintenance Safety Capability Inspection issued by the Internet Health Care Industry Alliance and CAICT.
Balanced development of three business segments, demonstrating strong business resilience
During the Reporting Period, the revenue of all three business segments maintained a balanced development, demonstrating strong business resilience.
The Big Data Platform and Solutions segment generated revenues of RMB 124.0 million during the Period. One aspect of this segment is Yidu Tech’s provision of AI-based intelligence platforms and data analytics-driven solutions to regulators and policy makers. During the Reporting Period, the Group led a consortium and won the contract for the Infectious Disease Intelligent Multi-point Surveillance Early Warning Platform for Beijing. With AI-empowered analytical tools and top-notch simulation models, the Group has expanded its solution offerings from public health to population health. During the Reporting Period, the Group won the construction of regional healthcare profiling for local residents in Chaoyang District, Beijing.
The other aspect of this segment is the Group’s continued effort to deepen its insight into diseases. In the field of hematology, the Group has partnered with two of China’s only three hematologic diseases National Clinical Research Center (NCRC) hospitals in developing a hematologic disease research network to conduct efficient clinical trials and multi-institutional real-world studies. Meanwhile, the Group has assisted its clients to develop a number of disease registries and large clinical research cohorts for major hematological diseases, including leukemia, coagulation disorders and aplastic anemia. With the successful precedented cases in hematology, the Group made breakthroughs in the field of dermatology by winning the contract with Institute of Dermatology, Chinese Academy of Medical Sciences, one of China’s top two hospitals in the field of dermatology, to build a disease research platform.
The Life Science Solutions segment achieved revenue of RMB 146.5 million during the Reporting Period. With accumulated credentials in focused disease research areas, as of 30 September 2022, Yidu Tech has performed 232 clinical research trials, including clinical trials sponsored by pharmaceutical companies and investigator-initiated trials (IIT). The Group has performed 185 prospective and retrospective real-world studies. Its Intelligent Site Management Organization (iSMO) services have covered 163 sites, more than doubling the number from last year. It is worth noting that, during the Reporting Period, the Group conducted a comprehensive retrospective real-world study which related to the evaluation of the efficacy, safety and treatment modalities of a new drug for patients with complex abdominal infections in ICU for a top 20 multi-national pharmaceutical companies (MNC) client to assist it to obtain the approval from the Center for Drug Evaluation, National Medical Products Administration (CDE).
The growing track records has enabled the Group to continuously develop the LSS segment and maintain its high-quality customer base. As of 30 September 2022, there were 143 active clients. Among its top 20 clients, there were 7 MNC and 16 listed companies.
The revenue of the Group’s Health Management Platform and Solutions segment amounted to RMB 203.8 million. Leveraging medical insights powered by YiduCore and AI empowerment, Yidu Tech facilitated its customers’ ability to design and develop innovative insurance products, enabling faster and more accurate insurance underwriting and expediting claim processing. During the Reporting Period, the Group continued to increase the market penetration of the Hui Min Bao business, serving 3 provinces and 10 cities. Yidu Tech has assisted three of the four municipalities directly under the central government in China to launch Hui Min Bao products, including Tianjin, Beijing and Chongqing. As of 30 September 2022, the number of active users who have completed at least one transaction on Yidu Tech’s health management platform reached 15 million.
Furthermore, the Group’s advanced intelligence technologies greatly improve the operating efficiency of Hui Min Bao. As the main operating platform for Jiangsu Hui Min Bao, the Group underwrote more than 3 million Jiangsu Hui Min Bao policies and approximately 76% of total claim amounts were completed by the Group’s intelligent claim settlement services. Compared with traditional methods, the Group’s intelligent claim settlement services tripled the productivity of processing claims, reducing the financial burden of the insured and further encouraging participation.
As the market leader with the largest market share in the healthcare intelligence market, the medical institutions and regulatory agencies healthcare intelligence market as well as the emerging healthcare intelligence market in China, Yidu Tech is committed to contributing to the intelligent transformation and upgrading of the healthcare industry, as well as the high-quality development of the healthcare industry. In the future, Yidu Tech will continue to adhere to its two-pronged strategy, expand its infrastructure network, deepen its research into diseases, maintain its strategic focus on business, customers, diseases and organization, and contribute to creating the healthcare intelligence ecosystem, upholding its mission to make value-based precision healthcare accessible to everyone and create more value for healthcare industry participants.
Artificial Intelligence
Data Center Chip Market Size was Valued at USD 11.7 Billion in 2022 and is Expected to Reach USD 45.3 Billion by 2032 at a CAGR of 14.6% | Valuates Reports
BANGALORE, India, July 26, 2024 /PRNewswire/ — Data Center Chip Market By Chip Type (GPU, ASIC, FPGA, CPU, Others), By Data Center Size (Small and Medium Size, Large Size), By Industry Verticals (BFSI, Manufacturing, Government, IT and Telecom, Retail, Transportation, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Data Center Chip Market was valued at USD 11.7 Billion in 2022, and is estimated to reach USD 45.3 Billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.
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Major Factors Driving the Growth of Data Center Chip Market
Because of the growing need for data processing and storage solutions brought about by the quick development of cloud computing, artificial intelligence, and big data analytics, the data center chip market is expanding significantly. High-performance chips are necessary for data centers to process massive volumes of data quickly and efficiently. As a result, advances in chip technology, including CPUs, GPUs, and specialist AI processors, have been made. The need for more resilient and scalable data center infrastructure is fueled in part by the expansion of digital services and Internet of Things (IoT) devices. The market is expanding due to key areas including Asia-Pacific, with its investments in technology and fast digital transformation, and North America, with its top tech businesses and vast data center networks.
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TRENDS INFLUENCING THE GROWTH OF THE DATA CENTER CHIP MARKET:
In data centers, Graphics Processing Units (GPUs) are essential for speeding up computing operations and data processing. They are perfect for managing workloads related to artificial intelligence (AI), machine learning, and large-scale data analytics because of their parallel processing capabilities. The need for GPUs in data centers is growing as these technologies become increasingly essential to corporate operations. Businesses are purchasing GPUs in order to increase the effectiveness of their data processing, lower latency, and boost overall performance. The need for data center chips is being driven by the increasing reliance on GPUs for sophisticated computing activities, which is considerably contributing to the market’s rise. This need is further increased by the growing use of AI and machine learning in a variety of sectors, which puts GPUs at the forefront of the data center semiconductor industry.
Compared to general-purpose chips, Application Specific Integrated Circuits (ASICs) provide better performance and efficiency since they are designed specifically for a given application. ASICs are extensively utilized in data centers for specific tasks including networking, data compression, and encryption. ASICs are becoming more and more common as a result of the growth of cloud computing, big data analytics, and blockchain technology, which has increased demand for high-performance, energy-efficient processors. Their capacity to provide tailored performance for certain applications aids data centers in better workload management, power conservation, and operating expense reduction. The market is expanding as a result of the increased preference for ASICs in data centers, which is fueling the need for specialized data center chips.
Large data centers are important users of data center chips; they are run by well-known IT firms and cloud service providers. To manage enormous volumes of data and provide a wide range of services, these facilities need a great deal of processing power and sophisticated computing skills. High-performance data center chips are becoming more and more necessary as a result of the growth of massive data centers and the rising demand for online streaming, cloud services, and digital transactions. These chips are necessary to ensure effective data management, processing, and storage, which helps big data centers fulfill the increasing expectations of its clientele. Large data center proliferation is anticipated to considerably boost the data center chip industry as the digital economy continues to grow.
Data centers are becoming more and more important to the Banking, Financial Services, and Insurance (BFSI) industry as a means of safely and effectively managing high transaction volumes, consumer data, and financial records. The need for sophisticated data center processors is being driven by the sector’s requirement for real-time data processing, high-performance computing, and strong security measures. BFSI organizations may improve their operational efficiency, guarantee data integrity, and deliver superior client services by utilizing data centers fitted with robust chips. The BFSI sector’s need for data center chips is being driven by the increasing use of online banking, digital banking, and financial analytics tools, all of which increase the requirement for sophisticated data center infrastructure.
The market for data center chips is significantly influenced by the cloud computing industry’s explosive growth. There is a growing need for scalable, effective, and high-performance data center infrastructure as more companies move their operations to the cloud. In order to handle enormous volumes of data, facilitate virtualization, and guarantee flawless service delivery, cloud service providers need sophisticated data center chips. Sturdy data center chips are becoming more and more necessary as cloud-based solutions become more and more popular. Benefits like cost savings, flexibility, and scalability are driving this trend. In places like North America and Europe, where cloud adoption rates are high and data center chip demand is rising rapidly, this tendency is especially significant.
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DATA CENTER CHIP MARKET SHARE
In 2022, North America gained a sizable portion of the market.
In 2022, the GPU made up the largest portion of the market share.
Throughout the projection period, large data centers are expected to gain a significant portion.
The BFSI market is anticipated to be one of the most profitable markets.
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Key Companies:
Advanced Micro Devices IncTaiwan Semiconductor Manufacturing Company LimitedBroadcomHuawei Technologies Co LtdIntel CorporationNVidia CorporationSamsung Electronics Co LtdQualcomm Technologies IncGlobalFoundriesARM LIMITED (SOFTBANK GROUP CORP.)Purchase Chapters @ https://reports.valuates.com/request/chaptercost/ALLI-Auto-2B326/Data_Center_Chip_Market
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Artificial Intelligence
Industry 4.0 Market to Surpass USD 513.89 Billion by 2031 with Automation Surge | SkyQuest Technology
WESTFORD, Mass., July 26, 2024 /PRNewswire/ — According to SkyQuest, the global Industry 4.0 Market size was valued at USD 133.05 billion in 2022 and is poised to grow from USD 154.6 billion in 2023 to USD 513.89 billion by 2031, growing at a CAGR of 16.2% during the forecast period (2024-2031).
Industry 4.0 or the fourth industrial revolution emphasizes the use of automation and interconnectivity. Employment of advanced technologies such as artificial intelligence, machine learning, robotics, and connected devices to improve the productivity and efficiency of industries. Rapid digitization and advancements in technology are forecasted to bolster the Industry 4.0 market growth over the coming years. The global Industry 4.0 market is segmented into technology, industry vertical, and region.
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Industry 4.0 Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 154.6 billion
Estimated Value by 2031
$ 513.89 billion
Growth Rate
Poised to grow at a CAGR of 16.2%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Technology, Industry and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Report Highlights
Internet of Things (IoT) technology takes centerstage for Industry 4.0 adoption
Key Market Opportunities
Adoption of smart manufacturing and additive manufacturing practices
Key Market Drivers
Rising demand for automation across all industry verticals
Segments covered in Industry 4.0 Market are as follows:
TechnologyRobots (Traditional Industrial Robots {Articulated robots, Cartesian Robots, Selective Compliance Assembly Robot Arm (SCARA), Cylindrical Robots, Others}, Collaborative Robots), Blockchain in Manufacturing, Industrial Sensors (Level Sensors, Temperature Sensors, Flow Sensors, Position Sensors, Pressure Sensors, Force Sensors, Humidity & Moisture Sensors, Gas Sensors), Industrial 3D Printing, Machine Vision (Camera {Digital Camera, Smart Camera}, Frame Grabbers, Optics, and LED Lighting, Processor and Software), HMI (Offering {Hardware [Basic HMI, Advanced Panel-based HMI, Advanced PC-based HMI, Others], Software [On-premises HMI, Cloud-based HMI], Services}), Configuration ({Embedded HMI, Standalone HMI}, Technology {Motion HMI, Bionic HMI, Tactile HMI, Acoustic HMI}, End-user Industry {Process industries [Oil & Gas, Food & beverages, Pharmaceuticals, Chemicals, Energy & power, Metals & mining, Water & wastewater, Others], Discrete industry [Automotive, Aerospace & defense, Packaging, Medical devices, Semiconductor & electronics, Others]}), AI In Manufacturing (Offering {Hardware [Processor MPU, GPU, FPGA, ASIC, Memory, Network], Software [AI solutions- | On-premises, Cloud |, AI platform- | Machine learning framework, Application program interface |], Services [Deployment & integration, Support & maintenance]}, Technology {Machine learning [Deep learning, Supervised learning, Reinforcement learning, Reinforcement learning, Others], Natural language processing [Context-aware computing, Computer vision]}, Application {Predictive maintenance and machinery inspection, Material movement, Production planning, Field services, Quality control, Cybersecurity, Industrial robots, Reclamation}, Digital Twin {Technology [Internet of Things (IOT), Blockchain, Artificial intelligence & machine learning, Artificial intelligence & machine learning, Big data analytics, 5G], Usage Type [Product digital twin, Process digital twin, System digital twin], Application [Product design & development, Performance monitoring, Predictive maintenance, Inventory management, Business optimization, Others]}, Automated Guided Vehicles (AGV) {Type [Tow vehicles, Unit load carriers, Pallet trucks, Assembly line vehicles, Forklift trucks, Others], Navigation Technology [Laser guidance, Magnetic guidance, Inductive guidance, Optical tape guidance, Vision guidance, Others]}, Machine Condition Monitoring {Monitoring Technique [Vibration monitoring, Embedded systems, Vibration analyzers and meters, Thermography, Oil analysis, Corrosion monitoring, Ultrasound emission, Motor current analysis], Offering [Hardware – Vibration sensors, Accelerometers, Tachometers, Infrared sensors, Spectrometers, Ultrasound detectors, Spectrum analyzers, Corrosion probes], Software [Data integration, Diagnostic reporting, Order tracking analysis, Parameter calculation], Deployment Type [On-premises deployment, Cloud deployment], Monitoring Process [Online condition monitoring, Portable condition monitoring]})IndustryManufacturing, Automotive, Energy, Medical, Semiconductor & Electronics, Food & Beverage, Oil & Gas, Aerospace, Metals & Mining, Chemicals, and OthersRequest Free Customization of this report:
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Internet of Things (IoT) Technology to Remain Indispensable for Industry 4.0
Internet of Things (IoT) remains the most crucial technology in global Industry 4.0 market growth owing to its role in interconnectivity and automation across different verticals. Advancements in connectivity technologies and rising use of automation in different industry verticals are also estimated to help this sub-segment gain an impressive market share. Surging demand for predictive maintenance will also boost the adoption of IoT technology in the long run.
Advanced robotic technologies are also slated to gain traction in the Industry 4.0 market. Growing acceptance of robots and high investments in advancements of robotic technologies are also slated to create new opportunities for providers of advanced robotics in the Industry 4.0 market. The low margin of error and the immense scope of automation are key benefits of robotics that help this sub-segment flourish.
Artificial intelligence (AI) will be another popular technology in the Industry 4.0 world going forward. Increasing demand for continuous monitoring, real-time analytics, and predictive maintenance are slated to help the demand for artificial intelligence in the future. The rising use of IoT devices will also boost the demand for cloud computing technology in the long run.
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Manufacturing Vertical to Spearhead Industry 4.0 Market Development
The manufacturing vertical is estimated to be at the forefront when it comes to Industry 4.0 adoption. The surge in use of robotics, advanced technologies, and smart manufacturing practices sets the tone for Industry 4.0 in this industry vertical. High emphasis on improving manufacturing efficiency, reducing downtime, and maximizing profits are all contributing to the high market share of this sub-segment.
The automotive industry is another vertical where Industry 4.0 market players could invest to get good returns. The high adoption of advanced robotics and other smart manufacturing technologies to maximize production allows this sub-segment to become a crucial one for Industry 4.0 providers. The aerospace and defense industry vertical also shows a lot of promise for Industry 4.0 companies going forward. Growing demand for advanced manufacturing techniques and technologies to create complex aerospace components is helping Industry 4.0 market growth via this segment.
The oil & gas industry is also estimated to embrace Industry 4.0 trend with open hands as they try to improve their operations and promote better resource utilization. High demand for predictive maintenance to reduce downtime and the growing adoption of digital oilfield solutions are estimated to bolster Industry 4.0 market development in the long run.
To sum it up, the application scope for Industry 4.0 is endless as automation and digitization pick up pace around the world. High investments in development of IoT and AI technologies will create better opportunities for Industry 4.0 companies in the future. The manufacturing industry will remain the top revenue generating sub-segment and more opportunities for aerospace, automotive, and oil & gas verticals will be seen over the coming years.
Related Report:
Digital Twin Market
Cyber Security Market
Artificial Intelligence (AI) Market
Internet Of Things (IoT) Market
Machine Learning Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact: Mr. Jagraj SinghSkyQuest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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Artificial Intelligence
Generative AI Cybersecurity Market worth $40.1 billion by 2030 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 26, 2024 /PRNewswire/ — The Generative AI cybersecurity Market is anticipated to experience substantial expansion, ascending from a value of USD 7.1 billion in 2024 to a substantial worth of USD 40.1 billion by the year 2030, according to a new report by MarketsandMarkets™. This growth trajectory reflects a robust compound annual growth rate (CAGR) of 33.4% over the forecast period.
Browse in-depth TOC on “Generative AI cybersecurity Market”
350 – Tables 60 – Figures450 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2019–2030
Base year considered
2023
Forecast period
2024–2030
Forecast units
USD (Million)
Segments Covered
Offering, Generative AI-based Cybersecurity, Cybersecurity for Generative AI, Security Type, End-user, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), IBM (US), Google (US), SentinelOne (US), AWS (US), NVIDIA (US), Cisco (US), CrowdStrike (US), Fortinet (US), Zscaler (US), Trend Micro (Japan), Palo Alto Networks (US), BlackBerry (Canada), Darktrace (UK), F5 (US), Okta (US), Sangfor (China), SecurityScorecard (US), Sophos (UK), Broadcom (US), Trellix (US), Veracode (US), LexisNexis (US), Abnormal Security (US), Adversa AI (Israel), Aquasec (US), BigID (US), Checkmarx (US), Cohesity (US), Credo AI (US), Cybereason (US), DeepKeep (Israel), Elastic NV (US), Flashpoint (US), Lakera (US), MOSTLY AI (Austria), Recorded Future (US), Secureframe (US), Skyflow (US), SlashNext (US), Snyk (US), Tenable (US), TrojAI (Canada), VirusTotal (Spain), XenonStack (UAE), and Zerofox (US).
This dramatic surge is being fueled by a number of causes. The primary growth driver is the enhancement of existing cybersecurity tools through generative AI algorithms by improving anomaly detection, automating threat hunting and penetration testing, and providing complex simulations for security testing purposes. These techniques enable various cyber-attack scenarios that can be simulated using the Generative Adversarial Networks (GANs), thus enabling the development of better preparedness and response strategies. On the other hand, it requires special cyber security tools to protect generative AI workloads against unique vulnerabilities such as adversarial attacks, model inversions and LLM poisoning. These tools include differential privacy and secure multi-party computation that are integrated into AI systems for training and deployment data protection purposes.
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Generative AI apps security segment will account for largest market share during the forecast period.
The cybersecurity landscape is rapidly changing for generative AI apps, which are already making their way into chatbots, content creation tools like word processors, and personalized recommendation systems. According to McAfee, 55% of these programs have had security breaches. This highlights the dire need for stronger protective measures from unauthorized access. Several generative AI applications that use adversarial techniques to force the desired reaction out of intelligent machines.
Therefore, there is a pressing demand in the number of developers who ensure that such machines are made more robust through techniques like adversarially trained models and resistant architectures. Finally, the usage of secure enclaves plus hardware-based security measures is growing off late, mainly aimed at safeguarding vulnerable AI computations from being tampered with. For instance, OpenAI has very strict security rules meant to protect GPT models thereby ensuring data integrity and user privacy.
By end-user, government & defense sector is poised to account for larger market share in 2024.
Government as well as defense industries are increasingly resorting to generative AI for cyber security purposes due to the urgency of protecting sensitive information and national security. According to a recent CSIS report, AI is being integrated into the cybersecurity framework of 43% of government agencies which resultantly improves their ability to identify and counter threats. As an example, the United States Department of Defense has started using artificial intelligence (AI) based security solutions backed by generative AI that can create fictitious cyber-attacks, thereby providing them with enhanced preparedness against advanced types of threats.
This technology also helps these sectors handle and analyze large volumes of data more effectively, giving valuable insights that will enable them prevent or mitigate cyber threats. This trend demonstrates an increasing reliance on generative AI in fortifying cyber security measures so as to ensure that critical infrastructure and sensitive data remain secure in today’s intricate digital landscape.
By region, North America to hold the largest share by market value in 2024.
In 2024, North America will be the leading region based on market share due to its excellent technology infrastructure, substantial investments in AI-enabled cybersecurity and the presence of key players. Major cyber security research universities and tech companies such as Google, AWS, CrowdStrike, SentinelOne and IBM are present in this area, pushing them on the forefront of potent risk management technologies and generative AI tools for threat detection. For example, IBM’s security platform powered by AI has improved detection rates for threats up by 40%, thus proving the relevance of AI technology to enhancing cybersecurity.
Moreover, legislative instruments such as Cybersecurity Information Sharing Act (CISA) are being put in place to promote advanced cybersecurity technologies. As internet attacks continue getting more complicated, North American enterprises prefer generative artificial intelligence (AI), so as to enhance their safety measures pertaining to personal data and digital infrastructure.
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Top Key Companies in Generative AI cybersecurity Market:
The major players in the generative AI cybersecurity market include Palo Alto Networks (US), AWS (US), CrowdStrike (US), SentinelOne (US), and Google (US), along with SMEs and startups such as MOSTLY AI (Austria), XenonStack (UAE), BigID (US), Abnormal Security (US), and Adversa AI (Israel).
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