**Otter.AI Strengthens Market Presence: Artificial Intelligence Continues to Grow**

The market for artificial intelligence has experienced impressive growth. In 2023, the global market value was estimated at $196.63 billion, and growth rates are expected to average 36.6 percent annually from 2024 to 2030. In particular, North America dominated in 2023 with a market share of 30.9 percent, while Europe is expected to see significant growth of 33.2 percent by 2030. The U.S. alone achieved an AI market value of $42 billion. Additionally, according to the U.S. Census Bureau, AI adoption rates vary by industry, with the information and technical services sectors leading at 18 and 12 percent, respectively, while agriculture and construction are at just 1 percent each. Since its market launch in November 2022, OpenAI's ChatGPT has gained over one million users in just five days. Marc Beierschoder from Deloitte Switzerland highlights the immense importance of AI in everyday life, describing it not as a passing trend but as an indispensable tool for smooth business operations. Gen AI, such as ChatGPT and DALL-E, has become established in companies. A McKinsey survey revealed that 65 percent of companies regularly use these technologies, nearly double the number from ten months earlier. A PwC study points to the enormous potential of AI for the economy and businesses. AI could increase global GDP by up to 26 percent by 2030, equivalent to $15.7 trillion. China and North America, in particular, are expected to benefit the most. Enhanced productivity and product innovations are driving this growth, with 45 percent of economic gains attributable to increasing demand. Otter.AI, a specialized AI platform for transcribing voice recordings, has transcribed over one billion meetings and summarized 47 million meetings since 2018. A survey by Otter.ai in 2023 showed that 71 percent of professional respondents use AI in the workplace, increasing their productivity. Seventy-five percent of managers recommend the use of AI, and 96 percent are aware of its use by their employees. In the list of the best AI assistants for 2024, Otter.AI ranks 9th. Our research analyzes AI stocks that promise above-average returns. Compared to NVDA, there are cheaper yet promising options in the AI market. Further details can be found in our report on the most affordable AI stocks.