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How Has the AI Model Risk Management Market Grown from 2024 to 2025?

In recent years, the market size of AI model risk management has seen a swift growth. It is projected to escalate from $6.17 billion in 2024 to $7.17 billion in 2025, exhibiting a CAGR of 16.2%. The expansion during the historic period can be linked to the utilization of AI models in international markets, escalating worries regarding insurance coverage and liabilities arising from AI model breakdowns, rising consciousness among stakeholders about risks related to AI models, and the demand for AI across various sectors requiring solid risk management structures. This subsequently drives improvement in operational effectiveness via efficient oversight of AI model risks and governance.

What Growth Rate Is Anticipated for the AI Model Risk Management Market in the Coming Years?

In the upcoming years, the AI model risk management market size is predicted to experience swift expansion, reaching $12.96 billion in 2029 with a compound annual growth rate (CAGR) of 16.0%. The surge in growth anticipated in the forecast period can be credited to the escalating regulatory surveillance and necessities for handling AI models, amplified board and executive monitoring of AI model risk management methods, an increased consciousness of the moral implications of AI, and the risks linked with cybersecurity threats aimed at AI models. Prominent trends during the prediction period comprise fast progression in AI technologies, amalgamation of AI model risk management with comprehensive enterprise risk management frameworks, the creation of methodologies to measure and evaluate risks linked with AI models, and ongoing enhancement and adaptation of AI model risk management plans.

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Who Are the Leading Companies in the AI Model Risk Management Market?

Major companies operating in the AI model risk management market are Amazon.com Inc., Google LLC, Microsoft Corporation, Accenture plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young, Oracle Corporation, KPMG International Limited, SAP SE, Moody’s Analytics, Sas Institute Inc, DataBricks Inc, Teradata Corporation, Palantir Technologies Inc., Fair Isaac Corporation, The MathWorks Inc, DataRobot Inc, H2O.ai, LogicGate, LogicManager

What Are the Key Drivers of the AI Model Risk Management Market?

As the understanding of cybersecurity threats grows, it is anticipated to stimulate the expansion of AI model risk management. Cybersecurity threats, which include harmful actions aimed at computer systems to steal, damage or disrupt data, such as malware, phishing, and DoS attacks, present hazards to digital security. The dependency on digital technologies is growing, thereby increasing cybersecurity threats and widening the field for cybercriminals to carry out attacks. AI model risk management aids in identifying these threats, foreseeing potential attacks, and amplifying defensive measures. For example, the UK Department for Digital, Culture, Media, and Sport disclosed in July 2022 that 39% of UK businesses had endured a cyber-attack in the previous year. The average projected cost was $5,369.68 for medium and large enterprises, and $24,878.68 when only counting material consequences like loss of money or data. As a result, the expanding awareness of cybersecurity threats is fuelling the growth of the AI model risk management market.

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What Are the Key Market Segments in the AI Model Risk Management Industry?

The AI model risk managementmarket covered in this report is segmented –

1) By Component: Solution, Service

2) By Deployment Mode: Cloud-Based, On-Premise

3) By Organization Size: Large Enterprises, Small And Medium-sized Enterprises (SMEs)

4) By Application: Model Documentation, Model Governance, Model Monitoring, Model Validation

5) By Industry Vertical: Financial Services, Healthcare, Insurance, Telecommunications

Subsegments:

1) By Solution: AI Model Validation Tools, AI Model Monitoring and Performance Tracking, Risk Assessment and Analytics Software, Explainability and Transparency Tools, Model Governance and Compliance Solutions

2) By Service: AI Model Risk Consulting Services, Model Risk Assessment and Evaluation Services, AI Model Auditing and Compliance Services, AI Model Training and Optimization Services, Ongoing Monitoring and Support Services

What Strategic Trends Are Transforming the AI Model Risk Management Market?

Leading businesses within the AI model risk management industry are dedicating resources to devise creative and sophisticated AI solutions, in an effort to secure a competitive advantage. sophisticated AI systems or advanced AI models are developed to execute intricate tasks with a high degree of accuracy and efficiency. They utilize the most current techniques in machine learning, deep learning, and natural language processing to study large data sets, project outcomes, and automate decision-making procedures. For example, Zendata, a US-based security platform provider, in July 2024, introduced an advanced AI model and data usage scanning platform which improves governance, bias detection, and compliance throughout AI enterprise ecosystems. This inventive service offers extensive governance, bias detection, and compliance throughout all AI and data ecosystems, catering to the growing demand for transparency and responsible AI implementation among enterprises.

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What Are the Key Regional Markets in the AI Model Risk Management Industry?

North America was the largest region in the AI model risk management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI model risk management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This Report Delivers Insight On:

1. How big is the ai model risk management market, and how is it changing globally?

2. Who are the major companies in the ai model risk management market, and how are they performing?

3. What are the key opportunities and risks in the ai model risk management market right now?

4. Which products or customer segments are growing the most in the ai model risk management market?

5. What factors are helping or slowing down the growth of the ai model risk management market?

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