🚀 20 Charts That Will Change Your Viewpoint On AI’s Growth

Introduction

This report looks at how artificial intelligence (AI) is growing and changing things in many areas. It talks about how much money AI is making, how it's being used in businesses like healthcare and customer service, and how it's creating new jobs. The report also discusses the problems with using AI and how they are being tackled. It's a good read for anyone interested in how AI is becoming a big part of our world.

1. AI Global Market Size and Its Forecast

The money made from AI was about $136.55 billion in 2022, and it's going to get much bigger fast because companies are putting more money into AI, and it's changing businesses a lot. By 2030, it could be worth $1,811.8 billion.

Also, AI could add $15.7 trillion to what the world earns by 2030. That's like adding another China and India to the world's economy, which is huge.

AI is going to help China's economy a lot, giving it a 26% lift by 2030. North America will also get a big boost of 14.5%. Together, they'll add $10.7 trillion to the world's money, which is about 70% of all the good stuff AI is doing for the economy everywhere.

2. Increasing Use and Expansion of AI in Businesses

Companies are using AI to make their work easier and faster. According to Forbes, they are applying AI in many different areas. The most common uses are in customer service (56%) and cybersecurity (51%).

3. The majority of consumers are concerned about businesses using AI

Many people are worried about how companies use AI every day. This shows that companies need to be clear about how they use AI and make sure they use it in a good way. This will help people trust companies more.

4. 65% of consumers say they’ll still trust businesses that use AI

Even though people are a bit worried about how AI is used in businesses, 65% still trust the companies that use AI. This means that companies can use AI and still make their customers happy. Doing this lets them get the best out of technology and their workers.

5. Need for New Standards

AI tools are getting really good at passing tests. Last year, they started doing this a lot, but this year, it's even more obvious. This means these AI systems are now too good for the old tests. They need harder challenges to really show what they can do.

6. The Big Impact on Nature from Training AI

Large AI models release a lot of carbon into the air. This is due to their huge size, the energy used by data centers, and how the electricity grid works. GPT-3, for example, created the most carbon. Even BLOOM, which uses energy more efficiently, needed 433 megawatt-hours of power for training. This is enough energy to run an average American house for 41 years.

7. More Countries Make Laws About AI

In the last year, governments in 127 countries made 37 new laws that talk about 'artificial intelligence'. The USA made the most laws (9), followed by Spain (5) and the Philippines (4). These laws include different things. For example, in the Philippines, they made a law to change education to better handle new tech like AI. In Spain, they focused on a law to make sure AI is fair and responsible. And in the USA, there's a new program to train people in AI through their Office of Management and Budget. Since 2016, there have been 123 laws about AI, with most of them made in the last few years.

8. Increase Spending on AI

By the end of 2023, the cloud service market could reach $150 billion, growing 30% each year. AI will likely boost this growth. Big cloud companies and specialized service providers can use AI to attract new customers and sell more. Companies like Salesforce and HubSpot are already using AI to offer new services. This trend could make cloud software more appealing and lead to more demand for data management tools. Overall, AI will help expand the cloud computing market.

9. AI Could Help Secure the Digital Economy

In 2022, $16.5 billion was spent on AI in cybersecurity. AI is starting to be used for cyber defense and monitoring IT systems for security threats. Companies like Dynatrace, CrowdStrike, and ZScaler provide these AI solutions. AI could improve responses to cyberattacks and help prevent them. However, AI also creates new threats, like malware and phishing scams. Efforts are underway to counter these risks. AI can also address the shortage of cybersecurity professionals, boosting productivity in this rapidly growing field.

10. AI is taking over jobs in Customer Service

AI technology is set to take over many jobs done by humans, especially in customer service. Experts think this field will change the most because of AI. AI is good for jobs that are repetitive and don't need much creativity. Some companies are already using AI in customer service. By 2024, it's expected that all kinds of industries, like telecom, retail, and finance, will use AI for customer service. This includes AI chatbots, virtual assistants, and AI-generated voice messages.

11. Increase in Jobs Related to AI

AI is expected to change the job market. By 2025, it might replace 85 million jobs but create 97 million new ones, leading to a net increase of 12 million jobs. By 2030, AI could create up to 77 million new jobs worldwide.

12. What Jobs Require AI Skills?

Software engineers are the most in-demand for AI jobs, with 39% of companies hiring them. Data engineers and AI data scientists are next, hired by 35% and 33% of companies. Designers and translators are also sought after in AI.

Python is the most mentioned skill in US AI job ads, appearing in 37% of nearly 800,000 postings in 2022. SQL and Java are also key, mentioned in 23% and 17% of jobs. Computer science, data analysis, and data science are important skills too.

California has the most AI jobs in the US, with 17.9%, followed by Texas with 8.4%. More companies are moving to Texas for lower costs.

13. 10 professions that are expected to be in high demand in the next five years

14. LLMs Scale Up

The cost of making large language models is rising fast. In 2019, GPT-2 was made with 1.5 billion parts and cost about $50,000. But by 2022, PaLM was created with 540 billion parts, costing around $8 million. This trend is not just with PaLM. Most big language and multi-use models are getting bigger and more expensive. The costs mentioned are best guesses - sometimes they might be just right (mid), sometimes too high (high), and sometimes too low (low).

15. ChatGPT is Application 2023 Champion

In 2024, ChatGPT will be a big hit in the AI world. When it started on November 30, 2022, it got a million users in just five days—faster than Instagram, which took 2.5 months for the same. By January 2023, it had 100 million users, making it the fastest-growing app.

By December 2023, ChatGPT had reached 180 million users. Most people visit ChatGPT directly, and a good part comes from online searches. These numbers show how popular and quickly adopted ChatGPT has become in the AI world by 2024.

16. Voice Search Statistics in 2023

17. AI in Healthcare Market

In 2022, the AI market in healthcare was valued at $0.8 billion and is expected to grow to $17.2 billion by 2032. This market is set to grow rapidly, at 37% each year. This type of AI, which can create new data, could transform clinical research and protect patient privacy. It can also help doctors by automating tasks like writing letters and managing medical records. The growth in hospitals and changes in healthcare are driving the need for this AI technology.

18. The US Doesn't Have the Most People Skilled in AI

19. AI challenges and blockers

Implementing AI in 2023 has several challenges. The top issues, according to an Addepto survey, are poor data quality and limited resources, each accounting for 21.1% of responses. A lack of knowledge is also a significant problem (18.4%), followed by a talent shortage (11.8%). Additionally, 10.5% of organizations struggle with a lack of data-focused culture. Other concerns include unclear benefits, cautious management, and data privacy laws. Addressing these issues is key for the effective use of AI across various sectors.

Conclusion

In conclusion, AI is making a big impact on our world. It's not just about robots and fancy tech; it's changing how we work, get medical care, and even how we shop. With the AI market growing fast, it's creating new jobs and changing old ones. But it's not all smooth sailing; there are challenges like making sure AI is used right and finding enough skilled people. As AI keeps growing, it's important for everyone, from businesses to governments, to understand and use AI in a way that's good for everyone. This report shows how AI is a big deal now and will be even more important in the future.

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