Driven by an uptick in public interest, the Artificial Intelligence (AI) market is enjoying unprecedented growth with Oracle Corp leading the pack in the race to a $1 trillion market capitalisation, according to a recent report by Forex Suggest.
Currently valued at US$310.6 billion and growing at an average rate of 17%, Oracle is projected to reach an estimated market cap of US$1.8 trillion by 2030.
Following closely are Palantir Technologies Inc and General Electric Co with estimated timeframes of 11 and 20 years to reach the trillion-dollar mark, respectively.
SingularityNET, with its native token AGIX, emerges as the most promising AI cryptocurrency, estimated to reach a trillion-dollar valuation in nine years.
Meanwhile, Liechtenstein emerges as the keenest investor in AI for 2023, with 584.8 searches per 100,000 people.
The Netherlands sees the fastest-growing interest in AI investments with a staggering 723% increase in searches year-on-year.
AI companies with outstanding growth
Upstart, with a stunning 100% increase in market cap from 2022 to 2023, leads the way among AI companies with the most substantial market cap gains.
The firm collaborates with banks to offer credit services using machine learning and AI for borrower assessments.
C3 AI follows, with a 93% rise in market cap over the same period.
Initially established to help businesses lower their carbon footprints, C3 AI now offers a diverse suite of enterprise applications.
In the crypto space, Matrix AI Network and dKargo are also strong contenders for SingularityNET
Both projects utilise blockchain technology in tandem with AI to solve various problems, ranging from smart contract execution to logistics optimisation.