Advancements in technology and engineering have always changed the way we live our lives. However, the pace of change in recent decades is unprecedented—and isn't slowing down any time soon. The size of the global artificial intelligence (AI) market is expected to grow from $86.9 billion in 2022 to $407 billion by 2027, according to a MarketsandMarketsTM report. That is a growth rate of over 36%.