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š 101 AI Facts and Forecasts: A Statistical Overview
An Analysis of the Key AI Statistics and Emerging Trends for 2023
Zei Chen
October 24, 2023
Table of Contents
1. AI Market Size
The global AI market is expected to reach $1,591.03 billion by 2030
North America is the largest AI market, accounting for over 40% of the global market in 2023.
The AI market is driven by the increasing adoption of AI technologies in various industries, including healthcare, IT, manufacturing, and retail.
The UK AI market is worth more than Ā£16.9 billion, according to the US International Trade Administration, and is expected to grow to Ā£803.7 billion by 2035.
The Asia Pacific AI market is expected to grow at the fastest CAGR, at over 40% from 2022 to 2030.
The AI in the social media market is expected to reach $12 billion by 2031, representing a CAGR of 28.7% from 2022 to 2031
The AI market in China is expected to reach $119.66 billion by 2026.
The global AI market size is expected to grow at a CAGR of 36.8% from 2023 to 2030
$21 billion is the forecasted global explainable AI market size by 2030.
Artificial Intelligence (AI) Software market size was valued at USD 72.8 Billion in 2022 and is projected to reach USD 850.6 billion by 2030, growing at a CAGR of 35.97% from 2024 to 2030.
2. AI adoption
72% of companies that use AI believe it simplifies their jobs.
52% of telephone companies now use AI chatbots.
83% of companies consider using AI in their strategy to be a high priority.
54% of organizations are seeing cost savings and efficiencies from using AI in IT, business, or network processes.
About 28% of people fully trust AI, while 42% claim to generally accept it.
Over 60% of business owners believe AI will improve customer relationships
About 62% of consumers are willing to submit data to AI to improve their experience.
More than 80% of employees say AI improves their productivity
83% of retail and 79% of consumer goods companies plan to adopt AI by 2023.
65% of consumers say they will still trust businesses who use AI.
China has the highest AI adoption rates, about 58% of Chinese companies deployed AI, and another 30% are exploring AI adoption.
77% of businesses have already adopted AI or have an adoption plan.
3. AI Business Impacts
AI is expected to generate $13 trillion in new economic activity by 2030.
Some jobs will be automated, while new jobs will be created in areas such as AI development, maintenance, and support.
By 2030, AI will contribute significantly to the GDPs of Worldās Leading Economies
21% net increase on the U.S. GDP by 2030:Demonstrates AI's significant impact on economic growth
Leading AI countries could capture an additional 20 to 25% in net economic benefits, while developing countries might capture only about 5 to 15%.
24% of business owners are worried that AI could negatively affect their website traffic.
57% of Americans are looking forward to AI technology replacing household chores.
Over 4 million AI-generated images are produced per day using Dall-E.
4. AIās Impact On Jobs
London serves as the primary hub for AI startups in the UK, hosting approximately 80% of the top 50 AI companies in the country.
Almost 100 million people will work in the AI space by 2025.
By 2030, it is estimated that 20% of the global workforce will be employed in jobs that are related to AI.
AI is expected to displace 85 million jobs by 2025.
AI is expected to automate 45% of current work tasks by 2030.
AI is expected to create new jobs in areas such as AI development, maintenance, and supportwith over 10 million new jobs expected to be created in these areas by 2030.
AI is expected to widen the income gap between skilled and unskilled workers.
Economists estimate that 60% of the current workforce is employed in jobs that didnāt exist 80 years ago.
This equates to 85% of employment growth coming from positions created around new technology.
The AI Index 2023 Annual Report by Stanford University found that in 2022, 2.05% of US job postings required some kind of AI skill.
The average salary for AI professionals is $134,000
How much an AI engineer make?
5. Machine Learning
The global machine learning market is projected to grow from $7.3 billion in 2020 to $30.6 billion by 2024, at a CAGR of 44%
90% of businesses plan to invest in machine learning by 2023 according to Forrester Research
Machine learning is the most in-demand skill by employers.
51% of organizations said they used ML algorithms in production in 2021, up from just 35% in 2020
The manufacturing sector is projected to spend the most on ML, reaching $13 billion in 2027, followed byBFSI at $11 billion
Facial recognition accuracy has improved from 97.53% in 2017 to over 99% in recent benchmarks, thanks to advances in deep learning .
57% of respondents state customer experience represents the top ML and AI use cases.
Machine learning predicted the mortality of COVID-19 patients with 92% accuracy
Googleās machine learning program can predict breast cancer with 89% accuracy
Machine learning is continuing to rise in popularity among businesses using AI. Itās expected to reach a 42.08% CAGR by 2024.
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6. Language Model (LM) and Nature Language Processing (NLP)
Natural language processing revenue is projected to grow 34% year-over-year to $23 billion in 2023 (Tractica).
The NLP market is expected to be worth over $40 billion in 2025.
GPT-4 is out and it crushes every other LLM, and many humans.
The global language modeling market is expected to grow from $2.8 billion in 2021 to $12.5 billion by 2027
Googleās Med-PaLM 2 language model is an expert according to the USMLE (State of AI)
The largest language model in the world, LaMDA, has 137 billion parameters.
7. Investment in AI
Saudi Arabiaās King Abdullah University of Science and Technology (Kaust) has allegedly purchased >3,000 H100s to build a supercomputer, Shaheen III, that should be operational by end of 2023.
Global AI investment reached a record high of $132.2 billion in 2022
The from 2022 continues: the US grows its unicorn count to 315 from 292 and total enterprise value to $5.9T from $4.6T.
91% of leading organizations are investing in AI activities. This is according to the NewVantage Partners Annual Survey of 2022, 92% of companies are already achieving returns on these investments.
The United States is the largest investor in AI, accounting for over 40% of global AI investment in 2022
The top countries for AI investment are the United States and China
AI startup funding has increased on average by 66% between 2021 and 2023
Captial raised in 2023 only
44% of private sector companies plan to invest in AI systems in 2023, as reported by Info-Tech Research Group.
91.5% of leading businesses invest in AI on an ongoing basis.
63% of companies surveyed plan to increase or maintain AI and machine learning spending in 2023.
8. AI in Data Science
73% of the Indian population surveyed is using generative AI.
94% of data scientists are using AI in their work.
AI is expected to automate 40% of data science tasks by 2025.
AI-powered data science tools are helping data scientists to work faster, more efficiently, and more accurately, by reducing the time it takes to complete tasks by up to 80%.
AI is helping data scientists to discover new insights from data by uncovering patterns and relationships that would be difficult or impossible to find manually.
AI is helping data scientists to improve the accuracy and reliability of their predictions by providing more accurate and up-to-date data, and by using more sophisticated algorithms.
9. AI in Healthcare
By 2025, using AI could result in $150 billion in savings from reductions in premature deaths worldwide
61% of healthcare providers will adopt AI by 2023 to aid diagnostics, personalized treatment and administrative tasks
AI in the healthcare market grew by 41.2% from 2018 to 2023.
70% of drug discovery costs can be cut with the appliance of AI and ML.
The three areas with the biggest AI potential in healthcare are ML-based medical diagnosis, early identification of potential pandemics and tracking incidence of the disease, and imaging diagnostics (radiology, pathology).
AI is being used in healthcare to reduce the cost of healthcare. One study found that an AI-powered tool was able to reduce the cost of treating patients with chronic heart disease by 10%.
AI is being used in healthcare to improve the patient experience. One study found that an AI-powered tool was able to improve patient satisfaction with their care by 20%.
AI is expected to create over 1 million new jobs in healthcare by 2030.
AI is being used in healthcare to improve the quality and efficiency of healthcare delivery. One study found that an AI-powered tool was able to reduce the time it took to schedule patient appointments by 50%.
AI is being used in healthcare to improve the accuracy and efficiency of medical diagnosis. One study found that an AI-powered tool was able to diagnose breast cancer with an accuracy of 99%, compared to 92% for human doctors.
The top 20 scientific fields applying AI to accelerate progress include physical, social, life and health sciences. Out of all the highest increase in the number of publications is Medicine.
10. AI in marketing
AI-powered marketing campaigns canachieve 74% higher open ratesand 50% higher click-through rates than traditional campaigns.
98.1% of marketers acknowledge that some understanding of AI is important for their job.
Only 30.1% of marketers think AI will negatively impact search traffic in 5 years.
37.4% of digital marketers are using AI detection tools.
75% of consumers are comfortable with chatbots handling routine customer service tasks, while only 33% approve of chatbots managing complex inquiries
AI content quality is already seen as really good. 65.8% of people think AI content is equal to or better than human writing.
54% people believe that AI can improve written content, suggesting that AI-driven solutions such as ChatGPT have the potential to enhance text quality, creativity and efficiency in various content creation contexts.
Only a fifth are currently using AI in Sales or Marketing.
In 2021, the market for artificial intelligence (AI) in marketing was estimated at 15.84 billion U.S. dollars. The source projected that the value would increase to more than 107.5 billion by 2028.
31% of respondent who are using AI in Sales or Marketing say they have increased their revenue and market share because of it.
11. AIās competition
One-third of all respondents say their organizations are already regularly using generative AI in at least one functionāmeaning that 60 percent of organizations with reported AI adoption are using Gen AI
43% of businesses are concerned about technology dependence: Highlights challenges in AI adoption.
The current AI market race is led by IBM, which holds a more than nine percent global market share.
The US is not the market with the highest AI skill penetration rate. That crown goes to India, with a rate of 3.23, 45% higher than the US, which takes second place.
The pioneering AI company, DeepMind, is now at the forefront of Googleās counteroffensive in generative AI following its merger with Google Brain.
The top five AI vendors in 2023 are Microsoft, Google, Amazon Web Services, IBM, and Salesforce.
IBM is the leading company in active machine learning and AI patents worldwide, with over 5,500 patent families as of November 2020
The growth of AI startups accelerated 14-fold since 2000. And weād bet more of them are coming up every year.
SOURCES
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