Artificial intelligence is reshaping the present as we know it, and we have a bright future ahead of us.
Artificial intelligence (AI) is expected to play a key role in solving some of the world’s most pressing problems, such as eradicating disease and lessening the effects of climate change, according to futurists.
Furthermore, AI has a wide range of applications in the commercial world.
To begin with, AI investing software can forecast which stocks would produce the best profits.
Artificial intelligence recruitment software can classify and categorise CVs and resumes, facilitating the hiring process.
It’s time to get ready for the approaching AI revolution in a market that’s still a few years away from saturation.
In this article, we’ll go over the most recent artificial intelligence data and break them down by worldwide market, sales, marketing, and even the use of AI for voice-related searches.
These facts can greatly assist you in understanding the AI market, where it is headed in the future, and how Big Data is propelling the sector forward.
Content Outline
Best AI (Artificial Intelligence) Statistics & Trends in 2024
1. The global AI industry is expected to grow rapidly during the next several years, reaching a market value of $190.61 billion in 2025.
2. By 2025, the wearable AI market is expected to be worth$180 billion..
3. Between 2020 and 2027, the yearly growth rate of AI is expected to reach 33.2 percent.
4. By 2027, the worldwide AI chip industry is anticipated to be worth $83.25 billion.
5. The Asia-Pacific area will have the highest compound annual growth rate between 2018 and 2025.
6. China will be the world leader in AI technology by 2030, with a market share of 26.1 percent.
7. The AI market’s growth is projected to be hampered by a scarcity of well-trained and experienced personnel.
8. The machine learning application business in the United States received $37 billion in funding in 2019.
9. By 2030, AI is expected to enhance global GDP by $15.7 trillion, or 26 percent.
10. Increased profitability (40%) and consumption are expected to drive the $15.7 trillion GDP forecast for 2030. (60 percent ).
11. A stunning 93 percent of automation technologists believe they are unprepared for impending smart machine difficulties.
12. Staff skills (56 percent), fear of the unknown (42 percent), and finding a starting point are the top three most critical hurdles firms encounter when considering AI implementation (26 percent ).
13. Companies are estimated to have 35 AI initiatives in place on average by 2022.
14. The second most important use of AI, according to 20% of firms, is automating procedures like invoicing and contract checking.
15. By 2027, 80 percent of retail CEOs expect their companies to have implemented AI-powered intelligent automation.
16. Only 7% of businesses do not utilise AI but are considering it.
17. In 2021, 86 percent of CEOs believe AI will be commonplace in their offices.
18. To solve data quality challenges, 48% of companies utilise data analysis, machine learning, or AI solutions.
19. 39 percent of large companies intended to invest in AI technology by 2020.
20. If they don’t scale AI, 75% of executives fear going out of business in the next five years.
21. Marketing and sales departments, more than any other, place a higher priority on AI and machine learning for their performance (40 percent
22. Netflix’s AI-powered recommendation system is worth $1 billion each year.
23. According to 54 percent of executives, incorporating AI into their office has enhanced productivity.
24. AI, according to 79 percent of executives, will make their work easier and more efficient. Make their job easier and more efficient.
25. Chatbots’ main advantages are 24-hour service (64 percent), rapid responses to inquiries (55 percent), and straightforward question answers (55 percent ).
26. In 2030, AI’s potential contribution to the global economy might be $15.7 trillion.
27. The machine learning application business in the United States received $37 billion in funding in 2019.
28. The increased use of AI in organisations will generate $2.9 trillion in corporate value and 6.2 billion hours of worker productivity by 2021.
29. In the second quarter of 2019, AI startups received a total of $7.4 billion in investment, setting a new high.
30. There were 279,145 AI patent applications in the United States as of March 2019.
31. In 2019, the supply chain management industry saw the greatest cost reduction (44 percent) as a result of AI implementation.
32. The most common AI use cases that resulted in cost reductions within enterprises include talent management optimization, contact centre automation, and warehouse automation.
Conclusion
These prophecies are thought-provoking. If Kurzweil’s predictions come true, companies will have to adapt to new ideas faster than ever before.
What steps will your company take to prepare for the adoption of new AI technology? Be open to changing your business goals, focusing on growth rather than cost reduction, and hiring or training new artificial intelligence-skilled staff is a terrific place to start.
We hope that this list of artificial intelligence data has enlightened you about the rapidly expanding market that lies ahead of us.
