Today, we’re taking a look at some of the top AI statistics worth knowing in 2023.
You don’t have to be a tech enthusiast to have an interest in artificial intelligence. Over the years, AI has become an increasingly commonplace part of our everyday lives. Countless tools, from collaboration and communication apps to customer service software, include their own AI enhancements. The chances are you’ve already interacted with AI service in the past.
As digital transformation continues at a rapid pace, AI is growing more advanced. Today, there are countless solutions available for everything from machine learning to natural language processing. It’s even possible to create comprehensive chatbots with tools like ChatGPT.
Let’s take a closer look at some of the most intriguing artificial intelligence statistics.
General AI Statistics: AI in 2023
Let’s start with the basics. Artificial Intelligence statistics show that AI is becoming increasingly commonplace in today’s digital landscape. In 2022, the global AI market was valued at around $119.78 billion. However, up to the year of 2030, the marketplace is expected to grow at a CAGR of 38.1%, leading to an expected value of 1,597.1 billion.
There are numerous factors driving this growth, from an increased demand in business landscape for meaningful customer insights, to rapid digital transformation. Let’s take a closer look at some general AI stats for this year.
The Machine Learning market will reach a value of $302.62 billion by 2030
Machine learning, a subset of artificial intelligence, is experiencing phenomenal growth. In 2021, the market was valued at around $14.91 billion. However, like the general AI market, this space is growing at a rate of almost 40% (38.1%). By 2030, the machine learning space will be worth around $302.62 billion worldwide.
AI Spending is predicted to increase for the next 5 years
According to the most recent IDC Semi-annual artificial intelligence tracker, investment in AI has been increasing at a rapid pace. In 2021, the total revenues for the industry reached around $383.3 billion, an increase of 20.7%. According to the study, the landscape will continue to grow at a consistent pace for at least the next 5 years. Specifically, the software landscape is expected to gain the most attention in this time, with a year-over-year growth of 36.6%.
By 2030, AI will contribute $15.7 trillion to the global economy
A PWC report looking at the financial impact of artificial intelligence found some interesting insights. The report suggests AI will contribute around $15.7 trillion to the global economy by 2030. Additionally, the analysts believe we’ll see a 26% boost in GDP for local economies as a result of AI by the same time. Around 300 different use cases for AI have already been rated and identified by the AI impact index.
The Chatbot market will be worth $3.99 billion by 2030
Chatbots are another key area of growth for the artificial intelligence landscape. The market for chatbots was valued at $525.7 million in 2021, and is currently expected to reach a value of $3.99 billion by 2030. This represents a CAGR of around 25.7%.
By 2025, 100 million people will be working in AI
By 2025, the World Economic Forum predicts countless people will be working directly with artificial intelligence technology. By 2025, around 97 million experts will be necessary to fill the demands of the AI industry. Not to mention, countless future jobs are likely to be affected by the implementation of AI bots, automation, and similar tools.
In 2022, North America held the biggest market share for AI development
Although numerous locations around the world are investing heavily in AI creation, North America appears to be generating the most attention today. In 2022, North America held the biggest market share for the industry. After all, the region is home to some serious tech giants, including Facebook, Google, Amazon, IBM, Apple, and Microsoft.
AI Start-up Investment Reached New Heights in 2021
According to the state of AI report from CB insights, the number of investors spending money on AI startups has increased rapidly throughout the last few years. In 2021, AI startups throughout the world raised around $50 million across 2000 deals. The biggest area of investment was healthcare, followed by fintech and retail AI.
Adoption of AI Statistics
The number of companies and everyday consumers leveraging AI-powered solutions has increased drastically in the last couple of years. In a world overwhelmed by big data, and complexity, AI offers a lot of benefits. As the market size of AI continues to grow across every vertical, from financial services to engineering, the accessibility of the space is also increasing.
AI usage is particularly common among users with smartphones, thanks to the introduction of real-time digital voice assistants like Siri. In the coming years, the number of consumers and companies using AI is likely to increase even further.
As of 2022, global AI adoption grew to 35%
According to IBM’s Global AI adoption index, the adoption rate for this technology reached 35% in 2022, a 4% increase from the year before. Around 44% of companies say they’re working on embedding artificial intelligence into their current applications and processes. Additionally, 42% of companies say they’re already exploring the benefits of AI.
41% of consumers believe AI will improve their lives
It’s not just business leaders and innovators who believe in the power of artificial intelligence. One survey by Strategy Analytics found that 41% of respondents believe emerging technologies will help to create a better life for them. This makes sense when we consider how many consumers are already using AI assistants in their everyday lives.
40% of Adults now Own a Smart Speaker
While the use of AI in business operations is clearly increasing rapidly, it’s not just companies that are discovering the market value. Around 2 fifths of adults now own a smart speaker, or access a digital smart assistant to help them navigate the online world, and tools like Netflix. Since the pandemic, the advancements in smart AI software has increased demand for digital assistants from leading providers like Google and Amazon.
By 2024 there will be 8.4 billion voice assistants in use
Statista also discovered some interesting insights with their artificial intelligence stats. The annual growth rate of AI assistants has been skyrocketing in recent years. By 2024, it’s predicted around 8.4 billion voice assistants will be in use. This number could be even greater if automotive companies and ecommerce brands continue to add AI assistants to the mix for customer interactions.
Google uses AI technology to process nearly 7 billion queries per day
Google leverages AI technologies for both voice search and regular search requirements. According to one report, the leading search giant processes around 7 billion queries each day, using AI algorithms. It would be almost impossible to manage this huge amount of data without an AI algorithm for assistance.
More than half of Americans use voice assistants for research
According to a report from Edison Research, about half of all Americans use voice assistants to help with their research and the discovery of new information. In the US, voice assistant adoption is particularly high, demonstrating an incredible opportunity for growth in the region.
Artificial Intelligence in Business Statistics
For many businesses, artificial intelligence offers an incredible opportunity to gain a competitive edge, access useful insights, and boost productivity. In one report from MIT Sloan, around 75% of executives said they believe artificial intelligence would be crucial to their company’s growth. The demand for AI solutions has only increased since.
The Global AI in Retail Market is expected to reach $24.1 billion in 2028
According to a study from ReportLinker, the retail industry presents an excellent opportunity for artificial intelligence development. The landscape for AI in retail is expected to reach a value of $24.1 billion by 2028. The report notes many organizations will be using artificial intelligence to improve sales and demand forecast accuracy, and optimize inventory.
Around 15% of all businesses in the UK have adopted AI technologies
According to a report from the UK Government, around 15% of all businesses are using at least one AI technology. Currently, around 2% of companies are piloting an AI initiative, and 10% say they’re planning on adopting the technology in the future.
Particularly, the market appears to be appealing to large companies, with 68% saying they’re looking forward to implementing AI solutions. Solutions for data management and analysis are the most exciting for these companies, with 9% of firms already adopting these tools.
89% of manufacturers in the US say they’re not using AI yet
In a study by the National Science Foundation, 89% of manufacturers said they weren’t using any AI in their solutions at all. Fewer than 7% of companies said they were using AI for production capabilities. According to the report, this indicates the US is adopting AI at a slightly lower rate than other countries around the world.
AI can improve productivity by over 40% in the workplace
A PWC report looked at the value of AI in business landscape, and found that one of the top benefits of AI is its ability to improve productivity. Around 44% of leaders say AI improves productivity via automation. 41% of leaders also said they think AI enhances decision-making, and 40% said it’s effective for improving customer experience.
40% of leaders also said AI helps them to improve their products and services, while another 37% said the technology improves employee experience and training.
96% of companies planned to use AI simulations in 2023
In 2023, the demand for AI simulations and “digital twins” increased. Around 96% of respondents said they planned on using these simulations in some way. The most common use case for digital simulations was to forecast market conditions (57%). However, 54% of respondents said they would be using simulations to support financial, marketing and sales planning.
54% of respondents also said they wanted to use simulations to enhance supply chains and improve operations, or to develop new products and target new segments of their market.
More than 9 in 10 companies are investing in AI on an ongoing business
Despite some differences in adoption rates according to geographical location, many companies are already investing in artificial intelligence. One survey found around 9 out of 10 companies are exploring AI investment on an ongoing basis. Most of these companies belong to the financial sector, but they also include other brands like Facebook and McDonalds.
61% of professionals believe AI improves their productivity
The growing use of artificial intelligence in the business landscape isn’t just having an impact on customer service and profitability. AI can also help to minimize repetitive and routine tasks, to improve workplace efficiency. One study found around 61% of employees believe using AI in the workplace has helped to improve their productivity levels.
89% of CEOs saw AI as a mainstream technology in 2021
According to a study from PWC, around 86% of CEOs said they considered AI to be a mainstream technology in their organization. Only 7% of companies said they don’t use AI, but are currently looking into the benefits of artificial intelligence for growth and customer service.
By 2035, the manufacturing industry could gain $3.78 trillion from AI
In virtually every industry, artificial intelligence is having a significant impact on the way businesses operate and transform. According to Accenture, the manufacturing industry could stand to benefit more than most, gaining a projected $3.78 from AI initiatives.
Other industry verticals expected to benefit from AI according to Accenture include tech-related sales companies, insurance, banking, healthcare, telecoms, and retail.
The number of AI capabilities used by organizations has doubled in 4 years
A report from McKinsey on the state of AI in business environments during 2022 found that the average number of capabilities used by companies has doubled since 2018. Today’s organizations are investing heavily in robotic process automation, computer vision, natural-language understanding, virtual assistants, and deep learning capabilities.
42% of companies are using AI to help with hiring
As the skills short marketplace continues to place pressure on companies, many organizations are turning to AI to help them with seeking out skilled professionals. A PWC study found 42% of leaders are using AI already to assist with hiring needs. A further 35% say they already have an AI plan in place, and they’re starting to implement new tools.
AI in Customer Service and Customer Experience
AI in the business landscape can offer a multitude of benefits, from improved productivity to more data-driven insights for leaders. However, one of the core areas companies appear to be investing in is the development of better customer experiences. AI can offer everything from self-service opportunities for customers, to enhanced customer journey mapping.
19% of companies were using AI for customer service analytics in 2022
According to a report from McKinsey, around 19% of companies were using AI for customer service analytics and customer segmentation in 2022. This makes customer service one of the top use cases for AI technology. A further 17% of respondents said they were using AI for lead generation and customer acquisition, and 16% were using it for contact center automation.
The Market for Call Center AI will reach $7.08 billion by 2030
Another area where AI is generating attention from business leaders is in customer service and support. The global market for AI in contact and call centers is expected to reach a value of $7.08 billion by 2030. Companies are leveraging AI in the CX space to provide access to self-service opportunities, and access insights into customer journeys.
Conversational AI will be worth $41.39 billion by 2030
While the contact center AI landscape may focus heavily on the use of AI analytics in contact centers, there’s a much greater demand for AI solutions capable of reducing the impact on human agents. Specifically, companies are turning to AI to create conversational experiences for customers, through chatbots, intelligent IVRs, and virtual assistants. This market is expected to reach a value of $41.39 billion by 2030.
62% of customers are willing to use AI for improved experiences
Consumers believe AI can deliver great experiences to them too. According to one report, 62% of consumers are willing to leverage AI tools if they believe it will deliver a better level of customer service. However, companies will need to ensure they’re communicating how they use AI as transparently as possible. Only 54% of consumers say they trust companies to use the data collected from AI in a way that’s beneficial to their needs.
89% of users believe chatbots are very useful
According to a survey by Forrester, 89% of consumers and business leaders consider chatbots to be extremely useful in the customer service landscape. Specifically, these survey respondents believe chatbots are effective at delivering a more personalized experience.
AI algorithms can increase leads by up to 50%
Not only does AI help to improve customer service, but it can also increase the number of leads captured by companies and sales teams. A Harvard Business Review report found AI algorithms can increase leads by around 50%. Additionally, the same report found that this technology can reduce call times by 60% in the contact center, and reduce costs by around 60% too.
ChatGPT could earn $1 billion in revenue by 2024
For many businesses investing in conversational AI, concepts like ChatGPT are generating a lot of attention. The owner of the solution, OpenAI has recently been valued at around $20 billion, and the open source chat tool is expected to deliver $1 billion in revenue by 2024.
AI Statistics: The Challenges of AI
While AI presents a number of opportunities to today’s evolving businesses, it’s not without it’s challenges. Many employees are concerned about the idea that AI and automation could make their jobs obsolete. Additionally, there are countless brands worried about staying compliant with industry regulations when leveraging AI.
57% of companies are prioritizing AI compliance as of 2022
According to a PWC report, around 57% of leaders in the AI landscape say they’re planning on taking extra steps to ensure AI is compliant with the right regulations in their industry. A further 55% said they would be looking for ways to protect AI systems from threats and manipulations, while 54% are looking for ways to improve AI system governance.
52% of leaders are prioritizing the ability to confirm AI decisions are easily explainable, and another 52% say they want to monitor and report on AI performance more often.
Cybersecurity threats are a major concern for AI adopters
As of 2022, around 51% of business leaders said they were focusing more heavily on the potential cyber-security threats involved with implementing AI. A further 36% said they were increasing their investment in tools to improve regulatory compliance. Additionally, 28% said they considered personal and individual privacy to be a major concern for AI adoption.
Almost half of CEOs are concerned about a lack of transparency in AI
Although many business leaders are excited about the potential of AI, there’s still a clear issue with the lack of transparency in the landscape. Around 51% of CEOs say they believe AI transparency and ethics are important to their business. Additionally, around 41% of senior ethics have delayed their investment in AI because they’re concerned about ethical issues.
Only 1% of companies in one study felt comfortably able to afford AI
Today, the rapid evolution of AI technologies has ensured better accessibility for a wide variety of companies. However, many organizations still find the technology to be prohibitively expensive. In one report, only the top 1% of companies are able to comfortably afford the latest tools.
By 2025, AI may replace around 7% of all US jobs
According to a report from Forrester, while AI won’t completely replace the need for human workers, some employees are at risk of being phased out by technology. The study suggests that robots, machine learning, and artificial intelligence will replace around 7% of jobs by 2025.
Notably, the report says that 16% of jobs will be replaced overall, but the equivalent of 9% of that number will be balanced out by the development of new jobs.
The AI stats above show the future of AI has a lot to offer both companies and consumers alike. AI can be used to streamline business processes, improve productivity, and enhance customer experience. What’s more, as the innovation in the industry continues, the number of AI applications available to explore is constantly evolving.
New concepts are emerging all the time, from generative AI to tools capable of sentiment analysis. Going forward, there’s no doubt the artificial intelligence market will continue to thrive, and AI use will grow even further.
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