Artificial Intelligence Statistics and trends

AI has a significant influence on your life, from automating routine tasks to increasing your workforce productivity and bringing powerful capabilities to non-technical users. 

It has much more to offer in the future. Major technological advancements such as ChatGPT and Bard are changing how companies operate, produce vast amounts of content, and free up marketing/sales teams and senior executives to focus on strategic tasks. 

In the 21st century, AI has become a magnetic force attracting hundreds of thousands of businesses and individuals. A recent study from Statista states that the global market size of AI has reached 184 billion US dollars. 

This means this technology is likely to grow at a compounding rate and has become a game-changer for every business, be it manufacturing, agriculture, hospitality, automobile, etc. 

It has become a helping hand for businesses to grow their revenue, engage with customers, and manage mundane operations. 

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Let’s discuss some of the top artificial intelligence statistics you should know in 2024. Knowing these stats gives you insights into AI usage, its market size, how it’s widely used across different geographies, and how Generative AI plays a dominant role in it. 

1. Usage of AI statistics 

Artificial intelligence is a goldmine for businesses. Some businesses are using AI to improve their efficiency, while others are using it to make data-driven decisions. 

Other businesses are using it to automate routine operations, save time, and achieve cost savings. 

A survey conducted by Forbes found that most businesses (56%) use AI for customer service, followed by 51% of respondents who use this technology for cybersecurity and fraud-related tasks. 

Other business owners are using AI or planning to integrate it into their business processes for customer relationship management, content production, supply chain operations, and accounting purposes. 

business owners using AI

2. McKinsey conducted a survey, and the findings of the survey reveal that though Generative AI is in its early stage, its use is widespread. It’s transforming various industries and individuals. 

 79% of respondents said that they’re using Generative AI for performing some of their work or outside purposes. They’re not using it often, but they had some exposure to these tools. While 22% said that this technology has become a part of their everyday routine.  

While its usage is high among respondents living in North America and working in the technology domain. 

3. 35% of companies worldwide are using AI to supercharge their business operations, while 42% of respondents reported that they’re leveraging AI for their company’s use. 

Nearly 50% of companies want to unleash the potential of AI technologies in 2024. This means a high percentage of companies (77%) either use or are planning to use AI in their business. 

4. The market size for AI globally has reached 184.4 billion US dollars. This figure is expected to touch 826.73 billion US dollars during the year 2030.  

market size of AI

5. 40% of the business leaders report that AI automates most of their work and their productivity has increased significantly.  

According to Valoir (a research firm), Artificial Intelligence can automate 40% of the average workday. This means that AI is truly a great motivator for both teams and leaders to make strategic and data-driven decisions.  

Some business leaders use AI-driven automation for automating rote tasks, while others use it to increase their productivity gains.  

6. The global AI market is projected to create 133 million new jobs in 2030. So, candidates can expect diverse jobs in the AI domain with new roles coming up. Some of the exciting roles include Data Science, Natural language processing, and Machine learning.  

People have a notion that AI can destroy millions of jobs in the world.   

According to the World Economic Forum Report, a global survey was conducted by the workforce at big firms, AI might destroy 75 million jobs, but it’ll create additional jobs and more roles for the global economy.  

7.AI is a game changer for all businesses and is used across all industries. AI is likely to create an economic impact on the world economy by adding a value of $15.7 trillion in 2030.  

8. Various organizations around the globe allocate some of their budget to AI tools and technologies. In 2018, nearly 40% of firms allocated their budget to AI. This number increased to 52%, which means most organizations have increased their AI spending. 

Do you wonder why global startups are shifting their focus to AI? That’s because they want to reduce their costs and automate crucial business processes. 

9. Adoption of AI across different geographies  

AI adoption rate is significantly higher in China and 58% of companies have already implemented AI in their business processes. While India is the next largest adopter of AI with 57% of companies using it. 

Lastly, the country with the lowest AI deployment rate is the United States. Only 25% of companies in the US have implemented AI.  

Global AI adoption

10. 72% of organizations implemented AI in at least one of their business functions.  

11. The global AI adoption rate ranks highest in Robotic process automation  

AI is widely used in Robotic process automation with a 39% AI adoption rate followed by computer vision (34%) and Natural language text understanding (33%). 

12. According to an IBM report, a quarter of companies (25%) prefer to adopt AI technology as they want to address labor shortages. AI offers accessibility meaning it’s easier to set up AI within the organization or across varied departments.  

On top of that, the adoption of AI technology gives several benefits to organizations such as increased efficiency, more productivity, automation of routine tasks, and reduced costs.  

13. Around 50% of organizations in China and nearly 59% in India are actively using AI as compared to other markets such as Spain, Australia, and France.  

14. 47% of companies are relying on AI to automate business processes. Such an increasing adoption rate signifies that most companies rely on AI for streamlining business tasks, increasing their business efficiency, and reducing manual tasks.  

15. Global AI funding reached $20 billion in February 2024. As compared to the previous year, there has been a significant increase in AI investment this year.  

16. Countries that contribute a major chunk of the pie in AI investment include the United States, China, India, and Canada. The US holds the maximum investment in the last 5 years and the amount spent was $328,548. 

While China invested nearly $132,665 during that period followed by the UK which spent around $25,541.  

17. The Chinese company that holds maximum patents for Artificial intelligence and Machine learning is Baidu. This firm outperforms others in terms of patent applications, quality of patents, and the number of patents granted. 

During the end of the year, Baidu claimed 19,308 patent-related AI applications.  

18. Open AI (AI startup) receives the major funding as compared to other AI startups to date. Open AI develops a cutting-edge tool popularly known as ChatGPT. Open AI startup caught people’s attention and raised $12 million in funding by the end of 2023.  

The Key players that supported this AI startup include Microsoft and Amazon. Microsoft alone invested $1 billion in 2019 followed by $10 billion in 2023.   

As the company received a substantial amount of investment, it improved the performance of the tool and integrated DALL-3 to improve the language processing and digital image creation tasks. 

19. ChatGPT crossed 1 million users within a few days of launch. It has gained huge prominence from consumers, so it’s considered the fastest-growing consumer application today. During January 2023, it reached more than 100 million users.  

By 2024, it’s going to reach nearly 180.5 million users.  

20. As the popularity of digital voice technologies such as voice assistants and smart speakers is gaining momentum in the market, it’s observed that 97% of mobile app users prefer to rely on AI-powered voice assistants. 

Predominantly, people living in the US prefer 3 voice assistant platforms including Google Assistant (85 million), Siri (81 million), and Alexa (74 million).  

21. As per Juniper Research, the number of voice assistants has increased. It was 3.25 billion in 2019 and is expected to increase (nearly 8.4 billion devices) in 2024. This is the perfect example of how AI tunes in the everyday lives of people to smoothen their daily tasks.  

22. Healthcare, Finance, and Manufacturing sectors have high AI adoption rates. The absence of AI brings various shortcomings for organizations operating in these sectors such as inefficiencies, human errors, and results in slower progress.  

From the figure given below, you can understand that AI is a major contributor in these sectors and holds 15.7% market share in healthcare, and 13.65% in manufacturing and finance.   

As this sector becomes highly competitive, it opens more career opportunities for aspiring candidates who want to make a career in this field.   

AI Technology market share

23. The American companies that dominate in Industrial AI automation include Apple, Google, Microsoft, and IBM.  

24. 42% of enterprise customers having more than 1000 employees are the early adopters of AI automation. They have deployed AI in their business processes.  

25. Considering the market capitalization, the 5 largest AI companies in the US include Microsoft, Apple, NVIDIA, Alphabet (Google) and Meta Platform. 

26. Investments in Generative AI have increased despite a sudden drop in overall AI investment last year. The funding for Generative AI has increased from 2022 by 8 times to reach $25.2 billion.  

Companies that raised a lot of funding in the Generative AI space include Open AI, Hugging Face, Inflexion, and Anthropic. 

27. By 2032, Generative AI could constitute 10-12% of the share of the total tech spending including hardware, software, services, advertising, and gaming.  

Generative ai market share

28. The popularity of Generative AI platforms has exploded with an increasing demand for generative AI consumer tools such as Google’s Bard and Open AI’s ChatGPT. 

According to Bloomberg Report, the market size of Generative AI was just $40 billion in 2022, and it’s expected to grow to $1.3 trillion over the next 10 years.  

29. Generative AI is truly a game changer for all domains such as marketing, content creation, customer support, development, and operations. AI foundation models help 98% of global executives in setting up company strategies for the next 3 to 5 years.   

30. Generative AI adds trillions of dollars of value to the global economy. 

Although Generative AI has several use cases in every business function, around 75% of the value that it creates revolves around 4 key areas including Marketing and sales, customer operations, software engineering, and R&D.  

A few examples of how Generative AI revolutionizes these roles include creating a computer code using Natural language prompts, talking to customers, and taking the content creation game to the next level. 

31. Generative AI supports workers and increases labor productivity in the economy. It’s estimated that this technology is likely to increase labor productivity by 0.1% -0.6% until 2040.   

That depends on how organizations are making use of this technology and how well workers are using their time. 

32. The global market size of Generative AI in Marketing was USD 1.9 billion in 2022 which is expected to grow at a CAGR of 28.1% and will reach USD 22.1 billion in 2032.  

generative AI market size

Marketing teams are using Generative AI to create compelling content that connects with a targeted audience. They’re running behind AI tools to promote their products/services and save their hours spent on content research. 

33. There were 254 million users who used AI tools and technologies in 2023. Now, there has been a tremendous growth in the number of AI users and such a number is expected to go beyond 700 million users by 2030. 

Individuals have been experimenting with AI tools for content creation, creating first or final drafts, editing articles, or generating content ideas using basic prompts.  

34. A Forrester report states that technologies such as AI, Machine learning, and Automation will destroy nearly 7% of US jobs by 2025. It disrupts the work of office and administrative staff.  

35. AI isn’t a Job killer. It’ll create 8.9 million new jobs in the US by 2025. It invites prospective candidates to apply for new roles such as content curators, data scientists, robot monitoring professionals, and automation specialists.  

36. In the US, the number of AI-related regulations has increased substantially over the last 5 years. There were 23 AI regulations in 2023 and last year, this number grew by 56.3%.  

While 78% are worried that AI is used for identity theft.  

38. While Generative AI can boost the productivity of organizations and workers, it can produce inaccurate information or fake information that doesn’t even exist. 

As per the McKinsey report, 56% of organizations believe that Generative AI produces false or inaccurate information.  

39. 78% of respondents believe that the benefits of investing in Generative AI outweigh the risks.  

40. The findings from the AIPRM survey reveal that nearly 35.9% of people living in the US feel that the biggest threat that AI poses is data security and privacy issues.  

While 30.8% of respondents believe that people lack technical knowledge. They don’t know how to use AI tools efficiently. 26.5% of respondents are hesitant to use it because they don’t want to become technologically dependent on these tools.  

Drawbacks of AI

41. 65% of consumers have full-proof trust in businesses that employ AI technology. That means businesses that leverage this technology responsibly can win the confidence of customers. Further, they can use this technology to enhance user experience.  

user trust in AI

Wrapping up  

The above-mentioned AI statistics gave you detailed insights into how this technology has become a game changer for every vertical. 

As the market size of this technology is increasing, it offers immense potential for both consumers and businesses. The growth statistics of AI and its adoption will continue to increase in the future, and it’ll provide multifold benefits way ahead. 

Although the combination of AI with other technologies makes your business more profitable, as a business owner, you should be cautious while using this technology.  

Studies from Forbes Advisor state that nearly 76% of consumers are worried that AI tools provide misinformation. But if we were to ask whether AI comes on the good side or bad side of things, then it depends on which industry you’re in, and how well you are technically proficient in this technology. Surprisingly, AI has several use cases in every domain, but human intervention is always required. 

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