Bloomberg analysts: the market for generative AI, like ChatGPT, will grow by more than 30 times by 2032

Artificial intelligence is one of the most discussed topics in the world of technology. It has already found its application in various areas of life, and its usage is increasing. Today, we can see generative AI at work on many platforms, such as ChatGPT, which allows for quality content creation without the need for human intervention.

According to Bloomberg analysts, the market for generative AI like ChatGPT will grow more than 30-fold and reach $1.3 trillion by 2032. This is 32 times more than in 2022, which is a huge breakthrough for the technology sector. Analysts predict an “explosive growth” in the next 10 years, which will fundamentally change the way the technology sector operates.

One example of the use of generative AI is content creation for websites and blogs. ChatGPT, for example, can create text that fully meets the customer’s requirements. This saves time and resources needed for quality content creation in manual mode. Another example of use is creating photos and videos based on the description and technical task.

Generative AI can also be used in other areas, such as medicine, manufacturing, and transportation. In medicine, for example, generative AI can help create new drugs and detect new diseases, speeding up the research and development process. In manufacturing, AI can help improve product quality and optimize production processes. In transportation, it can be used to create autopilots and optimize delivery routes.

AI is already an integral part of our lives today and will continue to evolve in the coming years. According to Bloomberg experts’ forecasts, it will play an increasingly important role in our lives, changing it for the better.