AI cybercrime security
AI North America Trending

Firms Continue to Embrace AI; With Global AI in Security Market set to Grow by $15billion by 2030

While business security risks continue to evolve and increase over time, the integration of AI into cybersecurity systems could help tackle this. As a result, the AI-driven security market is expected to grow substantially by 2030; a new Vantage Market Research report has revealed. 

Growing innovations in artificial intelligence (AI) and machine learning (ML) continue to drive AI in security market growth. The report produced by Vantage Market Research predicts that

report from Vantage Market Research projects that the global AI in security market, which was valued at over $6.6billion in 2022, will reach a value of around $22.5billion by 2030 – at a CAGR of 16.4 per cent over the forecast period.

The report explains that the significant increase in demand for AI across various industries, sectors and businesses is also driving the growth of AI in security. It also attributes some growth to the rising variety of mobile malware, which requires new security processes to tackle.

North America emerged as a frontrunner for holding the largest share of the AI in security market during the report’s forecast period. It explained that the motivation of the government towards the development of AI technology will be a major factor in driving the growth of the market in the near future.

Meanwhile, the Asia Pacific region is expected to claim the title of the fastest-growing for Al in security during the forecast period. Japan, China, South Korea, and India are set to be the major revenue generator countries in the Asia Pacific region.

Moreover, China has invested large amounts into the AI sector and has started growing skilled expertise in ML, and deep learning technology which is driving the growth of Al in security in the region.

Expanding “AI accessibility in underserved communities”

AI company Flapmax recently partnered with Intel Corporation, the global technology leader, to foster AI innovation and drive economic empowerment across Africa. The collaboration aims to provide technology access, training, mentorship, and funding opportunities to entrepreneurs in emerging markets, starting with Africa, through the FAST Accelerator programme.

FAST is designed to help startups that are building cloud-based and AI-enabled products and services supporting communities, companies, and governments.

Dr Dave Ojika
Dr Dave Ojika, CEO of Flapmax

Dr Dave Ojika, founder and CEO of Flapmax, said: “Flapmax has been working with Intel to develop sustainable digital solutions that readily expand AI accessibility in underserved communities, and we are excited to build on our momentum with the FAST Accelerator programme.

“Bridging the knowledge gap in technological advancement is key to creating meaningful social impact.

“Through this partnership with Intel, Flapmax will bring cutting-edge technology and advanced curricula, including generative AI, robotics, and deep tech, to innovators in Africa and other technologically underserved communities.”

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