Artificial Intelligence (AI) in Social Media Market
WILMINGTON, DE, UNITED STATES, July 3, 2024 /EINPresswire.com/ — Global Artificial Intelligence in social media market size was valued at $0.99 billion in 2021, and is projected to reach $11.99 billion by 2031, growing at a CAGR of 28.7% from 2022 to 2031.
The predictive risk assessment segment is expected to experience significant growth in the coming years, owing to AI-driven algorithms that are able to scan social media data to detect possible financial hazards including market volatility, fraud, and reputational issues.
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AI in social media refers to the use of artificial intelligence technologies to enhance and automate various aspects of social media platforms, including content recommendations, image and video analysis, chatbots, sentiment analysis, influencer marketing. The goal is to improve user experience, enhance content moderation, and provide better insights into user behavior. Moreover, a lot of social networking sites also employ AI to detect the abusive language in messages and comment areas. For instance, Facebook utilizes an AI program called deep text to identify instances of abuse.
Rise in the integration of AI in social media market applications for effective advertising and the growing popularity of AI in social media to provide real-time information on target audiences are driving the growth of the market. In addition, the surge in data generated through social media platforms is fueling the growth of Artificial Intelligence in social media market forecast. However, data security and privacy concerns limit the growth of this market. Conversely, the increased availability of machine learning programs for social media is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
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Region-wise, the AI in social media market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the increasing usage of automation and digitally enabled solutions. Additionally, AI is permeating society and affecting some of the most crucial aspects of people’s lives, such as health care, law, agriculture, and transportation.
However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to companies in the region are investing heavily in AI technology, driven by the growing demand for real-time content and personalized customer engagement, which is expected to fuel the market growth in this region.
The global Artificial Intelligence in social media market is dominated by key players such as Adobe. Amazon Web Services, Inc., Baidu, Inc., Google LLC, Hootsuite Inc., IBM Corporation, Meta, Microsoft, Salesforce, Inc., Snap Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. For instance, in January 2022, Meta launched AI Research SuperCluster (RSC), RSC will support the development of new augmented reality technologies, improved AI models that can learn from billions of samples, operate in hundreds of different languages, evaluate text, photos, and video simultaneously, and more by Meta’s AI researchers. this strategy is expected to drive the artificial intelligence in social media industry.
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