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60 Fascinating Artificial Intelligence Statistics and Trends Worldwide

Quick Overview: Artificial Intelligence (AI) has become a transformative force, revolutionizing industries and reshaping our society. This blog post provides an insightful overview of AI statistics for 2024, shedding light on key trends, advancements, and the impact of AI across various domains. By delving into AI statistical data, we aim to offer a comprehensive understanding of the current state and future prospects of AI.

1) The global AI market is worth $150.2 billion and is projected to rise as 2024 approaches its apex.

2) The AI market is expected to grow by 36.8% from 2023 to 2030 at CAGR.

3) AI market is expected to grow twentyfold by 2030.

4) Around 97 million people are expected to work in AI by 2025.

5) The AI market in the US is expected to reach $299.54 billion by 2026.

6) Due to the adoption of AI, the Global GDP rate will grow by $15.7 trillion by 2030.

7) 2024 is set to see the rise of 8.4 billion AI-powered digital voice assistant units which exceeds the total global population.

8) Since 2000, investment in AI startups has grown 6 times.

9) The industry value of AI is projected to rise by 13x over the next 7 years, which is good news for AI-oriented businesses in 2024.

10) 83% of organizations worldwide claim that AI is a top priority for their business processes.

11) According to one of the reports, the global AI market is expected to reach $1345.2 billion by 2030, and the journey surely begins this 2024.

12) Netflix has saved over $1 billion annually using machine learning from its Netflix Recommendation Engine.

13) AI improves the productivity of 61% of employees.

14) 54% of organizations state that AI has been cost-effective, so make sure that you integrate AI in your business in 2024.

15) 35% of companies globally use AI, and with the advent of 2024, this share will definitely rise.

16) 42% of businesses reported that they plan to use AI in the future.

17) More than 80% of executives from the retail and consumer industry plan to use AI automation for their businesses by 2025.

Companies Are Using AI Projects

18) 38% of medical providers use computers as part of their treatments.

19) China will be the world leader in AI technology with 26.1% of the global market share by 2030.

AI Market Trends

The Large Space for AI Market Size

20) Global AI market value is expected to rise from $150.2 billion to $1345.2 billion by 2030, with a CAGR of 36.8%.

The pervasive influence of AI technology across multiple industries is indisputable, poised to wield its transformative power as an essential catalyst for sustained economic growth throughout the forthcoming decade.

21) 4IR will generate a $7 trillion value by 2025.

AI’s relentless trajectory will perpetuate a digital revolution of unprecedented proportions, with its value projected to soar close to $4 trillion by the year 2025.

22) AI market size is projected to reach $407 billion by 2027.

With an exponential surge in revenue from an estimated $86.9 billion in 2022, the AI market is poised for extraordinary expansion, expected to reach an astounding $407 billion by 2027.

23) By 2030, the predicted net impact of AI on the US GDP will be 21%.

By 2030, AI’s impact on economic growth is anticipated to result in a large 21% net gain to the United States GDP.

According to the 2023 Gartner CEO and Senior Business Executive Survey, a straight need for intelligent applications exists. 26% of the CEOs identified talent shortage as the greatest threat to their organizations and prioritized employee retention as their workforce agenda. Meanwhile, AI was voted as the biggest disruptor in the market for the next 27 months.

24) Within the first five days of its launch, ChatGPT had 1 million users.

With 1 million users in the first five days of its debut, ChatGPT has a fantastic adoption rate – and we can see the streak continuing in 2024.

25) By 2030, one in ten vehicles will be self-driving.

By 2030, 10% of all vehicles are anticipated to be driverless, with a predicted increase in the number of autonomous vehicles from 20.3 million in 2021 to 62.4 million.

26) 64% of companies expect AI to boost productivity.

According to a Forbes Advisor survey, a sizable 64% of firms believe that artificial intelligence would aid in boosting their overall efficiency. This reflects the growing confidence in AI’s ability to revolutionize business operations.

27) The global revenue of the AI software market is currently over $100 billion.

Global AI Software Market Revenue Graph

The AI software market’s global annual revenue (2018 to 2025):

2018$10.11 billion
2019$14.69 billion
2020$22.59 billion
2021$22.59 billion
2022$22.59 billion
2023$70.94 billion
2024$94.41 billion
2025$126 billion

28) 9 out of 10 businesses support AI to offer them an advantage over competitors.

According to a survey, 87% of multinational corporations think AI technology will give them a competitive advantage.

This represents a 12% increase from the prior year.

29) In 2030, AI will be responsible for 26% of China’s GDP.

AI usage statistics indicate that in 2030, about 26.1% of China’s GDP will come from AI. North America will contribute 14.5% of the world’s technology to other economies, closely followed by the United Arab Emirates at 13.5%.

The anticipated growth of the AI market from 2021 to 2030 is shown below:

2021$95602 billion
2022$124319.8 billion
2023$207902.42 billion
2024$298246.87 billion
2025$420465.53 billion
2026$582948.69 billion
2027$795384.63 billion
2028$1068718.47 billion
2029$1415054.84 billion
20301,591.03 billion USD

AI Adoption: Industry Statistics for Great Business in 2024

Let’s go through the Artificial Intelligence growth statistics by industry:

30) The future of AI lies in financial services.

According to AI data, financial services organizations plan to invest $11 billion.

According to experts, the money will be well spent because it will enhance user experience, fraud protection, and underwriting.

31) By 2030, automation might free about 10% of nursing tasks.

AI in healthcare statistics shows that 90% of nursing tasks will still be performed by people in 2030.

There will be a shortage of 18.2 million healthcare personnel throughout that time frame, as the World Health Organization (WHO) predicted.

In fact, AI-powered nurse assistants are expected to reduce the 20% of time nurses spend on patient maintenance tasks, saving $20 billion yearly.

Either nursing schools are not producing the requisite number of qualified nurses, or AI will be the only option left.

32) With the AI implementation, forecasting errors have decreased by 20% in consumer-packaged goods. Now, this is a great signal for those looking to adopt AI in 2024 while also reducing business losses.

Manufacturers are now employing technology to estimate demand, according to statistics on AI and machine learning. Companies frequently invest a lot of money in activations and advertising.

The orders ultimately turn out to be greater or smaller than these businesses had anticipated. In this industry, AI has eliminated about one-fourth of these accidents.

AI-powered tools like GitHub Copilot and Replit GhostWriter are the revolution-makers for software development as they bring in the edge of automated code generation and effective coding assistance this 2024.

A GitHub survey states that 92% of U.S.-based developers use AI-driven coding tools for personal and professional tasks equally. 70% of the respondents believe AI coding tools give them an edge at work, offering better team collaboration while also preventing burnout.

On the other hand, a Stack Overflow survey showed similar adoption of AI coding tools, with 77% saying they feel favorable about using AI in their development workflow.

During a global survey held among customers of a digital asset management company, nearly 54% of them confirmed that they used AI to craft initial drafts. This was followed by 43% of surveyors mentioning that they used Artificial Intelligence for content optimization, while 42% utilized it for spelling and grammar assistance.

DALL-E and Midjourney are a couple of AI tools that facilitate users to build complex, genuine artworks with simple prompts, challenging conventional ideas of artistry.

AI is forecasted to have a compounded annual growth rate of 36.2% in the media and entertainment industry from 2020 to 2025.

AI/ML in the arts and culture industry is estimated to touch $750 million in market revenue by 2026.

A Deloitte survey states that 63% of art organizations are convinced that AI will transform the art arena majorly by 2030.

AI Statistics in Retail Industry

AI technology is revolutionizing the retail world as well. Let’s look at the statistics for AI in the retail industry.

33) AI statistics in the global retail market is expected to reach $55.53 billion by 2030.

AI in the retail sector was valued at $4.84 billion in 2021. However, it’s expected to grow at a CAGR of 30.5% from 2021 to 2028.

34) Amazon witnessed an almost 225% decrease in its “click to ship” time, which was 15 minutes. All thanks for machine learning.

Amazon strategically acquired Kiva, a robotics startup that automates the picking and packing procedure in the warehouse, according to McKinsey’s research into AI statistics. The average time from click to ship with Kiva is 15 minutes, which is a 225% improvement over the previous period.

35) 87% of those adopting AI reported using it—or at the very least considering it—for email marketing and sales forecasting.

In 2017, Statista polled 1,028 respondents online and discovered that 61% of them intended to employ AI for sales forecasting.

AI in Business Statistics: Your Weapon for 2024!

It is safe to state that the 2024 and beyond looks bright for technology. Many current businesses are rapidly evolving and expanding with the usage of Artificial Intelligence.

36) Executives that use AI tools report increased productivity by 52%.

37) 48% of respondents use data analysis, machine learning, or AI methods to address data quality challenges.

38) 25% of business executives claim that implementing AI technology has completely empowered their operational procedures.

39) According to 50% of corporate executives, using AI has enabled them to save money.

40) 53% of companies have used AI technology to innovate their products and services.

41) 54% of business executives concur that artificial intelligence significantly enhances decision-making.

AI in Sales Statistics to Empower Business in 2024

Businesses have demonstrated how using AI significantly enhances their sales processes. The ability of today’s AI tools to track consumer behavior, online activities, and preferences enables companies to market their goods and services more successfully. Artificial intelligence in business is increasingly being used, which is evidence of this. Check for how you can leverage the below stats for your business success in 2024!

Sales Statistics in AI

AI Replacing Employment Market and Jobs

In the coming years, AI may replace the majority of employment, but the real question is: are we prepared?

42) By 2030, intelligent robots may replace 30% of the world’s labor.

According to experts, automation adoption will result in some jobs being lost in the upcoming years. The labor force will be less than one-fourth of what it was in 2017 by the year 2030. This change will resemble the exodus of Americans and Europeans from agricultural labor in the 1900s.

43) AI will automate 16% of American occupations.

Forrester revealed some significant AI adoption numbers, stating that cognitive technologies like Ai will create employment. Nevertheless, even with this addition, automation will still displace 7% of US jobs by 2025.

44) By 2030, 375 million people will need to change careers.

Robotics may replace roughly 800 million jobs, eliminating about 30% of occupations, according to figures on AI technology. Nearly 400 million people will need to adjust and change their careers as a result of this enormous upheaval.

45) According to 52% of experts, even if automation will push some people out of their work, new jobs will still be created.

Let’s look at the bright side.

With roughly a billion qualified individuals becoming unemployed, the future does appear gloomy.

There is, however, a bright spot in the distance.

Experts are confident that human ingenuity will develop additional occupations that do not require AI.

46) The existing educational systems are not prepared for how AI will affect jobs in 2030 and beyond.

Scary facts about artificial intelligence demonstrate how poorly educational institutions are educating the current generation for the future. In order to deal with automation in the coming decades, we must arm ourselves with the necessary information and abilities. As a result, this is an area where the education system has to improve.

Machine Learning and AI Facts and Figures

The core of Artificial Intelligence is Machine Learning. It’s widely used by large companies like Google and Amazon. Let’s understand the AI in the workplace statistics.

AI And ML Small business Plans Facts & Figures

47) The automotive industry is expected to see a 48% increase in machine learning.

Vehicles will be absolutely driverless, either semi or fully autonomous. The effects won’t be limited to autonomous driving. Additionally, suppliers will be able to employ AI to customize and improve the convenience of their vehicles. The compound annual growth rate for the automotive artificial intelligence market is expected to be 27.2% for the 2022-2030 period.

48) The accuracy of Google’s Machine Learning Program is 89%.

Google’s deep learning program is 15% more efficient than pathologists, with an accuracy rate of 89%.

49) 20% of C-suite executives use Machine Learning.

The report from McKinsey states that around 20% of C-level executives across 10 different countries consider machine learning as a core part of their business. The success of these C-level execs will become a key motivator for AI adoption in 2024.

Artificial Intelligence Statistics for 2024

Now is the time to dive into the Artificial Intelligence usage statistics for 2024.

50) Business efficiency can be increased by up to 40% thanks to AI technology.

Accenture conducted a study on the effects of AI in 12 developed nations. According to the analysis, economic growth rates might double by 2035. People will be 40% more productive thanks to AI since they will be able to use their time more effectively. Well, this is particularly right for global IT economics.

51) Businesses with over 100,000 employees are more likely to use AI in their business strategy.

According to AI statistics from the MIT Sloan Management Review, three-quarters of executives think AI will help their company grow, and many believe it will provide their organization with a competitive edge.

52) 47% of organizations have established an AI strategy for mobile.

47% of the most sophisticated businesses have integrated AI into their mobile apps as part of their marketing initiatives; additionally, 84% employ a personalized approach.

53) According to 41% of consumers, artificial intelligence will improve their lives.

The technology environment has been dominated by artificial intelligence. Having said that, consumers from China and India are more likely to adopt this technology.

54) Only 33% of consumers believe they are employing AI technology.

One of the more intriguing AI statistics is that just 33% of people believe they use artificial intelligence-based technologies. Surprisingly, the real figure is far higher. Actually, 77% of people utilize AI-driven services AI-driven services.

55) 84% of multinational organizations think AI will provide them a competitive edge.

84% of businesses will implement AI as it will offer them a competitive advantage over their competitors in 2024 and the years to come.

56) Over 850 stories were written by The Washington Post’s “AI Writer” during the Rio Olympics.

During the 2016 Rio Olympics, The Washington Post experimented with using AI to report on important information. They created a writer called Heliograf who produced updates to readers in many sentences. In response to user requests, it customized about 850 stories after processing a variety of various data sources.

57) 97% of mobile users are already using voice assistants powered by AI.

There are 145.1 million voice assistant users at the end of 2023. According to Insider Intelligence, the growth is likely to maintain about 3% per annum and stay at that level until the forecasting year ends in 2027. In particular, the US mostly prefers Google Assistant (about 85 million users), then Siri (about 81 million), then – Alexa (about 74 million.)

AI Voice Assistant User Graph

58) At least once a day, 40% of users utilize the voice search feature.

With this percentage, it is obvious that voice search usage is gradually spreading throughout people’s daily life and may soon become the mainstream feature for search in 2024.

59) AI chatbots are used by 23% of customer service organizations.

Because they can respond to consumer inquiries quickly and accurately, AI chatbots are becoming more and more common in customer service organizations. 23% of customer care organizations now employ AI chatbots to deliver better customer support, according to a Salesforce survey.

60) 65% of consumers claim they will continue to trust companies using AI.

Despite reservations about AI utilization, 65% of customers still have faith in companies that use the technology. This shows that companies can preserve consumer confidence and even leverage AI’s promise to enhance customer experiences when they employ it ethically and transparently.

Business That Uses AI

What is the Future of AI?We can surely conclude that the AI software development market has a profitable future. It is because AI plays an integral part of both the present and the future. In fact, more human connections can be developed between AI and its use cases which eventually helps improve the ability of modern technologies to address critical challenges. Despite concerns about job loss, data suggests that AI technology will contribute to the creation of more startups and jobs than it eliminates. It is because AI executes well when humans feed it with more data and information through programming. Thus, AI emerges to be an indispensable part of the modern technology ecosystem.

source: RADIXWEB

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