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November 13.2024
9 Minutes Read

78 Artificial Intelligence Statistics and Trends for 2024




78 Artificial Intelligence Statistics and Trends for 2024



The age of expert system is really here.

In 2023, we saw a series of huge advancements in the world of AI-- from the launch of OpenAI's GPT-4 to Google's rollout of AI-powered search.

And after a year of such extreme technological modifications, companies of all sizes are questioning to what level they should ride the AI wave. 

Today, we'll explore the most current artificial intelligence statistics to assist you choose if it's time for your business to welcome AI. 

Most Important AI Statistics

  1. AI could include an incredible $25.6 trillion to the world's economy (McKinsey, 2023)

  2. Two-thirds of jobs could be partially automated by AI. But a number of these jobs will be complemented by AI, not replaced by it. (Goldman Sachs, 2023)

  3. In 2023, the global AI market size was close to $208 billion.




    By 2030, the market size is expected to reach almost $2 trillion (Statista, 2023)

  1. In 2023, the international AI market was valued at $142.3 billion (Statista, 2023)

  2. Seventy-three percent of U.S. business use AI in some aspect of their company (PwC, 2023)

  3. Over 25% of financial investments in American startups went to an AI-related business in 2023. By comparison, artificial intelligence start-ups got around 12% of total funding in between 2018 and 2022. (Crunchbase, 2023)

  4. Following its release in November 2022, ChatGPT reached over a million users in 5 days and 100 million users within 2 months. This made it the fastest-growing consumer app ever at the time (a record considering that beaten by Facebook's Threads app). (Statista, 2023)

  5. Fifty-four percent of services had used generative AI in their business by November 2023-- simply one year considering that ChatGPT was launched (PwC, 2023)

  6. OpenAI (the business behind ChatGPT) is looking for an appraisal of up to $90 billion since October 2023 (New York Post, 2023)

  7. Over 20% of generative AI users are 25- to 34-year-olds (Insider Intelligence.




    2023)

Secret Takeaways

These stats underscore that the rapid development of the AI market is set to continue for the foreseeable future, possibly including 10s of trillions of dollars to the worldwide economy. 

AI adoption is currently incredibly extensive among U.S. organizations. And although AI will likely impact most workers directly, it remains to be seen to what extent this new innovation will augment or change individuals's jobs. 

AI Statistics for Business

  1. Organizations approximate that 34% of all business-related jobs today are performed by makers (World Economic Forum, 2023)

  2. Typically, companies can anticipate a 6% to 10% income increase from embracing AI (Statista, 2023)

  3. AI could increase labor productivity growth by 1.5 portion points over the next years (Statista, 2023)

  4. Over 80% of Fortune 500 business had actually embraced ChatGPT within their business by August 2023 (OpenAI, 2023)

  5. Forty-six percent of American companies have conserved between $25,000 and $70,000 by utilizing ChatGPT (Statista, 2023)

  1. In October 2023, 55% of organizations were piloting or implementing generative AI solutions (Gartner, 2023)

  2. In July 2023, 79% of corporate strategists stated that innovation like artificial intelligence would be critical to their success in the next 2 years (Gartner, 2023)

  3. Half of tactical planning and execution activities could be automated, according to strategists.




    Presently, only 15% of such activities are automated. (Gartner, 2023)

  4. The global market size for AI in manufacturing was $5 billion in 2023 and is forecast to reach $68 billion by 2032 (Precedence Research, 2023)

  5. The international market size for AI in telecommunication was $1.45 billion in 2022. It's anticipated to grow at a compound annual development rate of 28.2% from 2023 to 2030 (Grand View Research, 2023)

  6. The retail AI market is anticipated to grow at a compound annual growth rate of 30% from 2023 to 2030 (Global Market Insights, 2023)

  7. One-fifth of all markets utilize artificial intelligence throughout service operations and corporate finance (Statista, 2023)

  8. Over 30% of monetary services companies utilize AI in item advancement (Statista, 2023)

  9. Automation in the education sector is anticipated to increase threefold with making use of AI (Statista, 2023)

  10. The market size for AI in security was $21 billion in 2023 and is forecast to reach over $50 billion by 2028 (Mordor Intelligence, 2023)

  11. The wearable AI market was valued at $20 billion in 2023 and is expected to reach $230 billion by 2033 (Fact MR, 2023)

Secret Takeaways

These statistics expose how companies across various markets have actually currently embraced AI to boost effectiveness and increase success.



AI is set to drive significant performance gains over the coming years, causing considerable market development across a varied series of sectors.

AI Adoption Statistics and the Job Market

  1. Existing AI innovations can automate tasks that absorb between 60% and 70% of employees' time today (McKinsey, 2023)

  2. Around 80% of U.S. employees could have at least 10% of their work impacted by generative AI. 19% of the labor force might see majority of their work affected. (OpenAI, 2023)

  3. AI adoption could lead to at least 20% of business staff members needing to be reskilled (Statista, 2023)

  4. Data management positions are most likely to see the greatest effect from AI. Around 90% of information processing positions and 80% of information collection positions will likely end up being automated due to generative AI. (Statista, 2023)

  5. At 78%, legal professions are the U.S.




    tasks most affected by generative AI (Forrester, 2023)

  6. Fifty-two percent of employed U.S. grownups are worried AI will change their jobs (Mitre, 2023)

  7. Forty-seven percent of services consider using AI over employing new staff members (Tech.co, 2023)

  1. One in three services might replace workers with AI in 2024 (Resume Builder, 2023)

  2. Ninety-six percent of companies employing in 2024 state candidates with AI abilities will be at an advantage (Resume Builder, 2023)

Secret Takeaways

AI is already having an extensive impact on the task market, with lots of companies preferring to embrace AI options over hiring brand-new staff members. This pattern looks set to continue as AI innovations automate more and more human tasks. Numerous workers will be required to retrain to adjust to the progressing job landscape, consisting of getting brand-new AI skills.

AI Marketing Statistics

  1. In 2023, 37% of individuals operating in marketing or marketing in the U.S.




    had actually utilized AI at work (Statista, 2023)

  2. Fourteen percent of business leaders regularly utilize generative AI in marketing and sales (McKinsey, 2023)

  3. Sixty-seven percent of marketers believe that increasing the adoption of marketing automation is critical for acquiring and retaining clients (Mailchimp, 2023)

  4. Eighty-eight percent of marketers state they need to increase using automation and AI to satisfy client expectations and stay competitive (Mailchimp, 2023)

  5. Nearly 20% of marketing experts have invested more than 40% of their marketing spending plan on AI-driven campaigns (Influencer Marketing Hub, 2023)

  6. Forty-four percent of organizations have actually used AI to write material (Influencer Marketing Hub, 2023)

Key Takeaways

AI is rapidly getting traction in the marketing sector. Lots of marketers recognize AI's value in improving customer acquisition, improving campaign performance, and adapting to evolving consumer expectations.

User Trust, AI Ethics, and Risk Management

  1. Just 39% of U.S.




    grownups think current AI innovation is safe and protected (Mitre, 2023)

  2. Eighty-five percent of U.S. grownups support an across the country effort across government, market, and academic community to make artificial intelligence safe (Mitre, 2023)

  3. Eighty-percent of U.S. adults are concerned about AI being utilized for cyber attacks. And 78% are worried about it being used for identity theft. (Mitre, 2023)

  4. Seventy-eight percent of magnate believe the advantages of expert system exceed the dangers (Gartner, 2023)

  5. Over one-third of organizations currently use security tools to alleviate the risks of generative AI (Gartner, 2023)

  6. Fifty-six percent of business state "inaccuracy" is the biggest threat presented by adopting generative AI. Yet just 32% of companies have systems in location for alleviating such inaccuracies. (McKinsey, 2023)

  7. Eighty-five percent of Americans desire market to share AI guarantee practices before bringing AI-enabled items to market (Mitre, 2023)

  8. Practically 75% of business executives ranked AI principles as crucial in 2021 (compared to less than 50% in 2018) (IBM, 2022)

  9. Less than 20% of executives securely think their used AI principles in fact meet their stated values (IBM, 2022)

  10. Fifty-six percent of executives don't understand if their companies have ethical requirements in place for directing the use of generative AI (Deloitte, 2023)

  1. Just 40% of individuals trust companies to be ethical in their use of new innovation like AI (IBM, 2022)

  2. Twenty-two percent of executives mention data privacy as their leading ethical concern about generative AI (Deloitte, 2023)

  3. Eighty-two percent of magnate think it's okay to use AI tools when responding to colleagues (Tech.co,




    2023)

Key Takeaways

These stats highlight the mixed mindsets companies and customers have regarding AI threats. While there's a clear demand for greater openness and ethical requirements in AI use, numerous companies currently fall short of these expectations.

Expert System Growth Statistics

  1. The on the planet AI market is expected to exceed $1 trillion by 2028. That's a growth aspect of 40% each year from 2023 to 2028 (Statista, 2023)

  2. In 2023, the generative AI market size reached $44.89 billion globally and $16.19 billion in the U.S. (Statista, 2023)

  3. In 2023, the AI market size in the U.S. was $87.18 billion (Statista, 2023)

  4. The total worldwide corporate investment in AI start-ups increased by $5 billion from 2020 to 2022 (Statista, 2023)

  5. The worldwide corporate financial investment in AI reached nearly $92 billion in 2022 (Statista, 2023)

  6. North America caught a 41% earnings share of the generative AI market in 2022 (Precedence Research, 2023)

Key Takeaways

Financial investment in AI technologies has actually skyrocketed over the last few years, particularly in the U.S.



And while the size of the worldwide AI market is already measured in the tens of billions, it's expected to break the trillion-dollar barrier towards completion of the years. It looks like AI will transform the global economic landscape rapidly and profoundly.

Overview of Leading AI Technologies

  1. Generative AI might include $2.6 trillion to $4.4 trillion of worth to the world economy each year (McKinsey, 2023)

  2. OpenAI is among the most well-funded startups in history, securing over $12 billion in investments as of 2023 (Statista, 2023)

  3. The natural language processing (NLP) market is anticipated to surpass $112 billion by 2030 (Statista, 2023)

  4. There were 2.2 billion check outs to ChatGPT in November 2023, 471 million of which were special check outs (Semrush data)

  1. In March 2023, Microsoft validated the new Bing was operating on GPT-4 after much speculation (Bing, 2023)

  2. OpenAI currently supports access from 188 nations, regions, and areas (OpenAI, Date Not Specified)

  3. It's approximated that ChatGPT costs approximately $700,000 per day to run (Business Insider, 2023)

Key Takeaways

Generative AI has actually experienced significant growth and financial investment in the last few years.



The significant success of OpenAI's ChatGPT and its integration into various mainstream applications highlights the prevalent effect and increasing popularity of this new AI technology.

The Future of AI: Expert Predictions and Analysis

  1. Generative AI could lead to 0.1% to 0.6% yearly development in labor performance through 2040 (McKinsey, 2023)

  2. AI could drive a 7% increase in international GDP (Goldman Sachs, 2023)

  3. China might see a 26% boost to GDP by 2030 thanks to AI (PwC, 2017)

  4. By 2030, generative AI might automate 30% of hours worked today (McKinsey, 2023)

  5. 300 million full-time jobs might become automated as an outcome of the new wave of AI systems (Goldman Sachs, 2023)

  6. AI might begin to improve U.S. GDP in 2027 (Goldman Sachs, 2023)

  7. International AI investment could reach $200 billion by 2025 (Goldman Sachs, 2023)

  8. The generative AI market size is expected to reveal an annual growth rate of 24.4%




    from 2023 to 2030, resulting in a market volume of $207 billion by 2030 (Statista, 2023)

  9. The worldwide AI chip market is anticipated to strike the $120 billion mark by 2027 (Statista, 2023)

  10. International AI software application earnings will reach $100 billion by 2025 (Omdia, Date Not Specified)

  11. Google expects its AI chatbot Bard will assist it reach two billion users (Reuters, 2023)

Secret Takeaways

The ongoing development of AI innovations looks set to significantly increase worldwide economic output over the coming years. The extensive automation of human work-related activities may transform labor markets and open brand-new efficiencies and innovation opportunities throughout industries.

Stay Ahead of Competitors in the AI Age

So, what do all these statistics about artificial intelligence tell us?

Initially, there's no doubt that AI has actually officially gone mainstream. 

The majority of companies (and customers) now utilize it in one type or another.



And according to the AI development stats and forecasts discussed above, AI adoption will only speed up over the next decade.

Obviously, the expansion of AI innovation isn't without its disadvantages. We've seen that many individuals will be required to reskill as increased automation interrupts the job market. 

And there remain several open concerns about how finest to balance the use of this new technology with security and ethical considerations.

That said, tools like AI Writing Assistant are set to open an unmatched wave of performance and effectiveness across the world of organization. As a growing number of routine tasks end up being automated, workers will have more time to commit to more creative and value-added activities.







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