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ARTICLE · 26 JULY 2024

The Rapid Rise Of AI, In Five Charts

Goodwin Procter LLP
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With remarkable speed, AI has evolved from an intriguing concept into a practical business tool that is drawing large investments and more regulatory oversight. The launch of generative AI (GenAI) tools in late 2022...

United StatesTechnology
Stephen Charkoudian
Stephen Charkoudian
Martin Gomez
Martin Gomez

With remarkable speed, AI has evolved from an intriguing concept into a practical business tool that is drawing large investments and more regulatory oversight.

The launch of generative AI (GenAI) tools in late 2022 helped fuel what had been a steady adoption of AI. Tech companies that develop GenAI began popping up across the globe, attracting investor dollars. Businesses in industries such as life sciences, finance, and real estate started pouring money into AI that can discover drugs, generate code, and predict market trends.

In response to these swift advancements, states have passed more legislation targeting AI, and federal agencies have ramped up regulatory governance of AI. Still, the US has not passed comprehensive federal AI legislation akin to the European Union's AI Act.

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