AI market to hit $4.8 trln by 2033, dominance hinges on ecosystem beyond tech: UN report

The successful adoption of artificial intelligence (AI) hinges more on a supportive ecosystem than on the technology alone, according to a report from the United Nations Conference on Trade and Development (UNCTAD).

Released on Friday, the report stresses that skills, data access, financing, regulation, and public trust are critical as a foundation for AI integration.

UNCTAD observed that several countries, including the United States and China, currently lead in the global AI race. It further encourages all countries to engage proactively to maintain competitiveness and avoid being left behind.

In a related April report, UNCTAD projected the AI market will grow to $4.8 trillion by 2033, establishing it as the dominant frontier technology. AI's share within the broader frontier technology landscape is expected to expand sharply - outpacing growth in other emerging fields such as the Internet of Things, blockchain, electric vehicles, and solar photovoltaics.