The global multimodal AI market is predicted to grow from USD 1.0 billion in 2023 to USD 4.5 billion by 2028, driven by the need to analyze unstructured data and advancements in generative AI techniques. Multimodal AI integrates data from various sources, like text and images, allowing for greater contextual understanding and improved performance compared to unimodal models. The document also explores the complexities of multimodal models, their advantages in natural language processing, and various applications in AI technology.