According to data presented by AltIndex.com, global alternative data revenues are expected to quadruple and hit almost $19bn by 2027, showing the entire market is growing two and a half times faster than the artificial intelligence industry.
Alternative Data Revenues to Grow by CAGR of 41.4% by 2027, Compared to 17.3% in the AI Industry
When alternative data started to take off in the 2000s, it was expensive and used almost exclusively by hedge funds and a handful of wealthy traders. Since then, the global demand for alternative data has skyrocketed, leading to better data-gathering technologies, lowering service prices, and more providers entering the market.
This story is from the August 2023 edition of Business Today Sri Lanka.
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This story is from the August 2023 edition of Business Today Sri Lanka.
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