AI trust, risk and security management refers to a variety of AI lifecycle components. These components address the creation, introduction, and continuous utilization of AI applications. The field of artificial intelligence (AI) has grown swiftly, allowing companies to forecast events with greater accuracy, automate procedures, and make choices with greater speed and precision. The potential risks associated with data leaking, tampering, and malicious assaults are however present along with this power of AI. Businesses must establish technology and practices that go beyond conventional security safeguards to secure AI apps and services and guarantee AI is employed securely and ethically. Here, AI trust, risk and security management comes to play as it enables secure and effective application of AI. The primary goal of Al trust, risk, and security management is to bridge the ethical responsibility and technical advancement gaps. Some of the main factors projected to drive market expansion include increased government attempts to utilize Al technology, the rise in demand for Al systems that can be trusted, and the rise in demand for Al decisions that are clear. However, it is anticipated that high ethical standards and a lack of knowledge in Al may impede market expansion. However, because of the widespread usage and progress of Al technology within the predicted period, these factors are projected to be greatly diminished.
Furthermore, factors such as increase in efforts of government to deploy AI technology and secured and convenient data storage primarily drive the AI trust, risk and security management market growth. However, comprehensive ethical norms as a foundation for Al and insufficient awareness of Al hamper market growth to some extent. Moreover, Al may dramatically lessen gender-prejudice and are expected to provide lucrative opportunities for market growth during the forecast period.
The AI trust, risk and security management market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. On the basis of component, it is bifurcated into solutions and services. On the basis of deployment mode, it is bifurcated into on-premise and cloud. On the basis of enterprise size, it is bifurcated into large enterprise and small and medium-sized enterprise. On the basis of industry vertical, it is divided into IT and telecom, BFSI, manufacturing, healthcare, retail and e-commerce, government and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the AI trust, risk and security management industry are International Business Machines Corporation, SAP SE, SAS Institute Inc., Oracle Corporation, Rapid7, At&t Intellectual Property, LogicManager, Inc., ServiceNow, Moody's Analytics, Inc., and RSA security LLC.. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the AI trust, risk and security management industry globally.
By deployment mode, the on-premise segment dominates the global AI trust, risk and security management market size, owing data privacy, compliance and regulatory requirements and protection against insider threats in the organization. This is attributed to trust, risk, and security management that play a crucial role in ensuring business continuity by implementing robust backup strategies, disaster recovery plans, and resilience measures. In addition, on-premises segment also provides effective management of trust, risk, and security that includes techniques such as algorithmic transparency, and auditability, enabling organizations to understand and validate the behavior of the system. The cloud segment would also showcase the fastest growth throughout the forecast period, owing to the integrity, confidentiality, and availability of AI systems and data. Key factors related to the cloud segment in AI trust, risk and security management are storage, data protection, secure infrastructure and identity and access management.
Region-wise, North America dominated the market share in 2022 for the AI trust, risk and security management market share, owing to the increase in adoption and growth of advanced and latest technology, such as cloud computing, artificial intelligence (AI), and machine learning (ML). The integrated smart processes and breakthroughs of technical developments have entirely revolutionized the landscape of the IT industry and, in turn, encouraged the drive for the implementation of efficient and secure AI solutions. However, Asia-Pacific contributes the fastest growth in the region, owing to increase in adoption of increasing adoption of AI, data sensitivity and privacy concerns and cybersecurity threat landscape.
For improved Al TRiSM, researchers and engineers need better data. The learning algorithm (such as a deep-neural network model) and the datasets used to train and test that algorithm both affect how well an Al solution performs. Algorithms and datasets have historically received substantially more attention in Al research due of its critical importance. Different sectors employ Al TRiSM to establish online and offline data storage capabilities, as well as for real-time offer management, automated checkout systems, and enhanced security of the database analytics. The need for Al TRiSM from data storage applications has also increased dramatically over the past several years Due to the secured access to datasets.
Increasing efforts of government to deploy AI technology
Businesses and governments all around the world have started a variety of projects to adopt Al and ML technologies and position themselves as market leaders as a result of the expanding benefits of Al. Government entities from numerous nations are establishing councils, new laws and regulations, and frameworks in order to implement Al TRiSM solutions. Increase in public confidence in Al technology and protecting civil liberties and personal information are the key objectives of governments deploying Al TRiSM solutions. In order to identify risk issues for Al technology, many companies have formed committees in collaboration with suppliers of Al solutions, academic institutions, and research centers. For instance, in March 2021, the U.S.-India Artificial Intelligence Initiative was launched by the Indo-U.S. Science and Technology Forum (IUSSTF) with the goal of fostering Al innovation through the exchange of knowledge and experiences, the discovery of fresh opportunities for bilateral cooperation, and the advancement of Al research.
Furthermore, factors such as increase in efforts of government to deploy AI technology and secured and convenient data storage primarily drive the AI trust, risk and security management market growth. However, comprehensive ethical norms as a foundation for Al and insufficient awareness of Al hamper market growth to some extent. Moreover, Al may dramatically lessen gender-prejudice and are expected to provide lucrative opportunities for market growth during the forecast period.
The AI trust, risk and security management market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. On the basis of component, it is bifurcated into solutions and services. On the basis of deployment mode, it is bifurcated into on-premise and cloud. On the basis of enterprise size, it is bifurcated into large enterprise and small and medium-sized enterprise. On the basis of industry vertical, it is divided into IT and telecom, BFSI, manufacturing, healthcare, retail and e-commerce, government and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the AI trust, risk and security management industry are International Business Machines Corporation, SAP SE, SAS Institute Inc., Oracle Corporation, Rapid7, At&t Intellectual Property, LogicManager, Inc., ServiceNow, Moody's Analytics, Inc., and RSA security LLC.. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the AI trust, risk and security management industry globally.
By deployment mode, the on-premise segment dominates the global AI trust, risk and security management market size, owing data privacy, compliance and regulatory requirements and protection against insider threats in the organization. This is attributed to trust, risk, and security management that play a crucial role in ensuring business continuity by implementing robust backup strategies, disaster recovery plans, and resilience measures. In addition, on-premises segment also provides effective management of trust, risk, and security that includes techniques such as algorithmic transparency, and auditability, enabling organizations to understand and validate the behavior of the system. The cloud segment would also showcase the fastest growth throughout the forecast period, owing to the integrity, confidentiality, and availability of AI systems and data. Key factors related to the cloud segment in AI trust, risk and security management are storage, data protection, secure infrastructure and identity and access management.
Region-wise, North America dominated the market share in 2022 for the AI trust, risk and security management market share, owing to the increase in adoption and growth of advanced and latest technology, such as cloud computing, artificial intelligence (AI), and machine learning (ML). The integrated smart processes and breakthroughs of technical developments have entirely revolutionized the landscape of the IT industry and, in turn, encouraged the drive for the implementation of efficient and secure AI solutions. However, Asia-Pacific contributes the fastest growth in the region, owing to increase in adoption of increasing adoption of AI, data sensitivity and privacy concerns and cybersecurity threat landscape.
Top impacting factors
Secured and convenient data storageFor improved Al TRiSM, researchers and engineers need better data. The learning algorithm (such as a deep-neural network model) and the datasets used to train and test that algorithm both affect how well an Al solution performs. Algorithms and datasets have historically received substantially more attention in Al research due of its critical importance. Different sectors employ Al TRiSM to establish online and offline data storage capabilities, as well as for real-time offer management, automated checkout systems, and enhanced security of the database analytics. The need for Al TRiSM from data storage applications has also increased dramatically over the past several years Due to the secured access to datasets.
Increasing efforts of government to deploy AI technology
Businesses and governments all around the world have started a variety of projects to adopt Al and ML technologies and position themselves as market leaders as a result of the expanding benefits of Al. Government entities from numerous nations are establishing councils, new laws and regulations, and frameworks in order to implement Al TRiSM solutions. Increase in public confidence in Al technology and protecting civil liberties and personal information are the key objectives of governments deploying Al TRiSM solutions. In order to identify risk issues for Al technology, many companies have formed committees in collaboration with suppliers of Al solutions, academic institutions, and research centers. For instance, in March 2021, the U.S.-India Artificial Intelligence Initiative was launched by the Indo-U.S. Science and Technology Forum (IUSSTF) with the goal of fostering Al innovation through the exchange of knowledge and experiences, the discovery of fresh opportunities for bilateral cooperation, and the advancement of Al research.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ai trust, risk and security management market analysis from 2022 to 2032 to identify the prevailing ai trust, risk and security management market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the ai trust, risk and security management market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global ai trust, risk and security management market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Component
- Solution
- Services
By Deployment Mode
- On-premise
- Cloud
By Enterprise Size
- Large Enterprise
- Small and Medium-sized Enterprise
By Industry Vertical
- IT and Telecom
- BFSI
- Manufacturing
- Retail and E-commerce
- Healthcare
- Government
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- ServiceNow
- AT&T Intellectual Property
- RSA Security LLC
- SAP SE
- LogicManager, Inc.
- Moody's Analytics, Inc.
- International Business Machines Corporation
- Rapid7
- SAS Institute Inc.
- Oracle Corporation.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AI TRUST, RISK AND SECURITY MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: AI TRUST, RISK AND SECURITY MANAGEMENT MARKET, BY DEPLOYMENT MODE
CHAPTER 6: AI TRUST, RISK AND SECURITY MANAGEMENT MARKET, BY ENTERPRISE SIZE
CHAPTER 7: AI TRUST, RISK AND SECURITY MANAGEMENT MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: AI TRUST, RISK AND SECURITY MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the ai trust, risk and security management market was valued at $1.7 billion in 2022, and is estimated to reach $7.4 billion by 2032, growing at a CAGR of 16.2% from 2023 to 2032.According to Al TRiSM (trust, risk and security management), machine learning (ML) approaches should be carefully examined and refined, so that people can utilize Al systems in a secure and respectable manner. The goal of artificial intelligence (AI) TRiSM is to overcome the accountability gap between technological advancement and creativity by addressing concerns such as notification rights and potential violations and cyber bullying. Businesses recognize the potential of incorporating artificial intelligence (AI) into their business operations in order to improve operational effectiveness and save costs through automating process flows. As a result, companies have begun implementing autonomous processes to improve operations and revolutionize customer service (using, for example, chatbots powered by Al), all the while inspiring creativity to reach new heights. Al is a group of algorithms that may deal with certain problems and works best when given access to a significant amount of high-quality big data. Businesses may reduce operating costs by up to 30% by adopting chatbots. In addition, suppliers and start-up companies develop innovative developments to meet the growth in need for Al TRiSM frameworks among enterprises.
Furthermore, factors such as increase in efforts of government to deploy AI technology and secured and convenient data storage primarily drive the AI trust, risk and security management market growth. However, comprehensive ethical norms as a foundation for Al and insufficient awareness of Al hamper market growth to some extent. Moreover, Al may dramatically lessen gender-prejudice and are expected to provide lucrative opportunities for market growth during the forecast period.
On the basis of components type, the global AI trust, risk and security management market share was dominated by the solution segment in 2022 and is expected to maintain its dominance in the upcoming years owing to the AIoT services that offers AI model validation and testing to ensure the accuracy, fairness, and robustness of AI models. However, the services segment is expected to witness the highest growth, as AI trust, risk and security management provides specialized professional service offered by experts and consultants to help organizations assess, implement, and manage AI-related security measures.
By region, North America dominated the market share in 2022 for the AI trust, risk and security management market. This is attributed to an increase in adoption of advanced technologies, such as AI, ML and business analytics solutions. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of cloud-based services are expected to provide lucrative growth opportunities for the market in this region.
During the Covid-19 pandemic, trust, management, and security management have become crucial aspects for organizations deploying and utilizing AI technologies. The pandemic led to a surge in the use of AI systems to address various challenges. Organizations relied on AI for tasks like remote collaboration, virtual healthcare, contact tracing, and data analysis. This increased reliance highlighted the importance of ensuring the trustworthiness and reliability of AI systems. Therefore, AI trust, risk and security management enabled real-time monitoring of devices, processes, and environments. Market players adopted AI trust, risk and security managements solutions to update and enhance the services that help in detecting fraud & risk. For instance, in June 2021, RSA Security LLC updated the transition of its AI trust, risk and security management solution and fraud & risk intelligence business into a new standalone company serving a worldwide customer and partner community. Outseer fraud manager protects customers across all digital channels with risk-based account monitoring decisions. Such factors have propelled the growth of AI trust, risk and security management during the pandemic.
Government initiation
Governments play a crucial role in establishing regulations and frameworks that address the ethical, legal, and security implications of AI. This is attributed to laws and policies that mandate transparency, fairness, privacy protection, and accountability in AI systems. These initiatives help define technical requirements, best practices, and guidelines that AI systems should adhere to, ensuring they meet specific security and ethical criteria. Governments can promote the adoption of these standards and certifications through procurement processes and incentives. For example, data protection regulations like the General Data Protection Regulation (GDPR) in the European Union set standards for the handling of personal data, including AI applications. For instance, in March 2021, Indo-US Science and Technology Forum (IUSSTF) launched its flagship program, the US-India Artificial Intelligence Initiative. The activity brings together key stakeholders from India and the USA to foster AI innovation by sharing ideas and experiences, identifying new opportunities in research and development, and bilateral collaboration.Key findings of the study
By component, the solution segment dominates the AI trust, risk and security management market analysis in terms of revenue in 2022.By deployment mode, the on-premise segment dominated the AI trust, risk and security management market size in 2022.
On the basis of industry vertical, manufacturing is the fastest growing segment with highest CAGR for AI trust, risk and security management market.
Region-wise, North America generated the highest revenue for AI trust, risk and security management market forecast in 2022.
The key players profiled in the AI trust, risk and security management industry analysis are International Business Machines Corporation, SAP SE, SAS Institute Inc., Oracle Corporation, Rapid7, At&t Intellectual Property, LogicManager, Inc., ServiceNow, Moody's Analytics, Inc., and RSA security LLC. These players have adopted various strategies to increase their market penetration and strengthen their position of AI trust, risk and security management industry.
Companies Mentioned
- ServiceNow
- AT&T Intellectual Property
- RSA Security LLC
- SAP SE
- LogicManager, Inc.
- Moody's Analytics, Inc.
- International Business Machines Corporation
- Rapid7
- SAS Institute Inc.
- Oracle Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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