General Purpose Artificial Intelligence (GPAI) Market Size, Share Report, Analysis, Trends, Growth 2032

General Purpose Artificial Intelligence (GPAI) Industry Prospective:

The global general purpose artificial intelligence (GPAI) market size was worth around USD 21.04 billion in 2023 and is predicted to grow to around USD 108.54 billion by 2032 with a compound annual growth rate (CAGR) of roughly 20.00% between 2024 and 2032.

Request Free Sample

General Purpose Artificial Intelligence (GPAI) Market: Overview

Artificial General Intelligence (AGI), or GPAI, is the term used to describe machines that can mimic human cognitive capacities and carry out a broad range of intellectual tasks. Unlike specialized AI created for certain purposes, general purpose artificial intelligence (GPAI) aims to mimic human intellect in a variety of tasks. To address a variety of problems, GPAI systems often combine cutting-edge methods from symbolic reasoning, deep learning, machine learning, and other subfields of artificial intelligence. These systems can pick up new abilities and information without needing to be explicitly programmed for every task since they frequently emphasize autonomous learning and adaptation. Robust perception, sophisticated reasoning, natural language comprehension, planning, decision-making, and human-like interpersonal abilities are possible essential elements of GPAI.

Key Insights

• As per the analysis shared by our research analyst, the global General Purpose Artificial Intelligence (GPAI) market is estimated to grow annually at a CAGR of around 20.00% over the forecast period (2024-2032).
• In terms of revenue, the global General Purpose Artificial Intelligence (GPAI) market size was valued at around USD 21.04 billion in 2023 and is projected to reach USD 108.54 billion, by 2032.
• The growing investment is expected to drive the market growth over the forecast period.
• Based on the type, the natural language processing segment is expected to grow significantly during the forecast period.
• Based on the application, the financial services segment is expected to hold the dominant position in the General Purpose Artificial Intelligence (GPAI) industry.
• Based on region, North America is expected to dominate the market during the forecast period.

Request Free Sample

General Purpose Artificial Intelligence (GPAI) Market: Growth Drivers

Increasing demand for autonomous systems and advancements in AI research drives market growth

Autonomous systems that require minimal human intervention are becoming more and more popular in a variety of fields, such as intelligent assistants, autonomous cars, and robots. This tendency is supported by GPAI's ability to learn and make decisions autonomously, which encourages its adoption in various industries. Furthermore, continued research in the domains of machine learning, deep learning, reinforcement learning, and other branches of artificial intelligence advances the creation of increasingly complex and broadly applicable AI methods. These developments propel the GPAI's capabilities forward, boosting its allure for a variety of uses.

General Purpose Artificial Intelligence (GPAI) Market: Restraints

Lack of skilled professionals and regulatory uncertainty hinder market growth

Multidisciplinary competence in fields like machine learning, cognitive science, and domain-specific knowledge are necessary for creating and implementing GPAI systems. Unfortunately, there is a lack of qualified AI professionals who can create and manage such intricate systems, which causes talent snags and difficulties in hiring businesses looking to use GPAI. Furthermore, legislative frameworks are not keeping up with the rapid improvements in AI technology, which creates uncertainty about legal and ethical duties. The development and implementation of GPAI may be hampered by unclear or strict rules, as businesses struggle to comply with legal obligations and possible fines. Thus, this is expected to hinder the market growth over the forecast period.

General Purpose Artificial Intelligence (GPAI) Market: Opportunities

Increase in customer satisfaction and adoption of reliable cloud applications offers a lucrative opportunity for market growth

In recent years, machines have become more proficient at recognizing faces, photos, and speech than humans. Artificial intelligence is being used in several industry sectors to improve important elements of the consumer experience, lower costs, increase efficiency, and increase customer satisfaction. Artificial intelligence computers are predicted to eventually replace call center workers to answer questions and deliver better customer service, which will fuel the market's expansion. Furthermore, it is anticipated that the potential for growth of the worldwide GPAI market would be significantly impacted by the quick advancements in robust and reasonably priced cloud computing infrastructure. Moreover, cloud-based technologies are consistently enhancing the IT environment by implementing modifications and altering the existing organizational structure. The artificial intelligence market is primarily driven by the ability of small and medium-sized businesses (SMBs) to exchange and organize relevant data and information in real time through cloud computing.

General Purpose Artificial Intelligence (GPAI) Market: Challenges

Complexity and development cost poses a major challenge to market expansion

Substantial investments in R&D and computational resources are needed to build robust GPAI systems. Development costs and time-to-market can be greatly increased by the complexity of building AI models that can generalize across a variety of jobs and situations, especially for smaller businesses with fewer resources. Thus, posing a major challenge to the market growth.

General Purpose Artificial Intelligence (GPAI) Market: Segmentation

The global General Purpose Artificial Intelligence (GPAI) industry is segmented based on type, application and region.

Based on the type, the global General Purpose Artificial Intelligence (GPAI) market is bifurcated into natural language processing, machine learning, computer vision and others. The natural language processing segment is expected to grow significantly during the forecast period. The demand for NLP-powered conversational AI solutions is increasing, which propels revenue development in the GPAI market. To increase consumer engagement, boost service quality, and streamline operations, businesses in a variety of industries, including retail, healthcare, finance, and customer service, invest in chatbots, virtual assistants, and voice-enabled interfaces driven by artificial intelligence. NLP also makes it possible for GPAI systems to handle and evaluate enormous volumes of textual data, which propels the growth of language-based services and applications. Applications like sentiment analysis, text summarization, language translation, and content creation present revenue prospects as they meet the demands of many industries for individualized experiences and data-driven insights.

Based on the application, the global General Purpose Artificial Intelligence (GPAI) industry is segmented into financial services, smart manufacturing, automotive and transportation, medical and health, media and entertainment and others. The financial services segment is expected to hold the dominant position in the General Purpose Artificial Intelligence (GPAI) industry. Chatbots, virtual assistants, and personalized recommendation engines are a few examples of GPAI-powered technologies that are revolutionizing consumer interactions by offering proactive support, individualized financial advice, and seamless user experiences across digital channels. Through higher customer retention rates, cross-selling opportunities, and improved brand reputation, improved customer happiness and loyalty translate into increased revenue. Furthermore, financial products, investment plans, and insurance solutions are customized to meet the unique needs and preferences of each consumer by use of GPAI-powered predictive analytics and recommendation engines. Institutions can enhance customer acquisition, boost product adoption rates, and earn income from fee-based services, commissions, and premiums by providing pertinent and focused financial services.

General Purpose Artificial Intelligence (GPAI) Market Report Scope

Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the market over the forecast period. Leading IT firms, startups, and academic institutions are advancing GPAI technology in North America, which is a center for AI research, development, and innovation. The robust AI talent, infrastructure, and funding environment in the region expedites the creation and implementation of GPAI solutions, hence bolstering revenue growth in a variety of industries. Furthermore, North American firms give top priority to digital transformation programs that use AI to reshape workflows, create new revenue streams, and restructure business processes. By facilitating intelligent automation, predictive analytics, and adaptive decision-making and fostering increased productivity and creativity, GPAI is essential to these endeavors.

General Purpose Artificial Intelligence (GPAI) Market: Competitive Analysis

The global General Purpose Artificial Intelligence (GPAI) market is dominated by players like:

• Baidu Inc.
• OpenAI
• Google
• IBM
• Oracle
• Dellfer Inc.
• Hewlett Packard Enterprise
• Amazon Web Services (AWS)
• Intel Corporation
• Microsoft
• NVIDIA
• SAS Institute
• SAP
• Huawei
• Databricks
• QUALCOMM TECHNOLOGIES INTERNATIONAL LTD.
• Dataiku

The global General Purpose Artificial Intelligence (GPAI) market is segmented as follows:

By Type

• Natural Language Processing
• Machine Learning
• Computer Vision
• Others

By Application

• Financial Services
• Smart Manufacturing
• Automotive and Transportation
• Medical and Health
• Media and Entertainment
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa