Once relegated to the realm of fiction, artificial intelligence has come through the screens and pages into our reality. There’s no more denying it: AI is officially here and has been for quite some time now.
There are a lot of misconceptions about artificial intelligence. AI stats give us the reality of this misunderstood industry, instead of letting our imaginations spring forth images of terminator armies taking over the human race. AI is already quite pervasive in our daily lives, you just might not recognize it.
From the latest healthcare technologies to driverless cars, the AI industry is growing at an exponential rate, leaving us all to wonder what the effect of AI on our society is and will be.
Most Amazing Al Statistics: Editor’s Pick
- The market for AI in healthcare will be worth $61.59 billion by 2027
- 77% of HR organizations will leverage AI for talent acquisition by the end of 2022
- By the end of 2020, 78% of brands will implement AI
- Worldwide military spending on AI will reach $18 billion by 2025
- Driverless vehicles can shave off around 50 minutes of daily driving time
- Amazon’s recommendation engine is responsible for 35% of the company’s revenue
- 42% of the jobs people lost during the COVID-19 pandemic are gone forever
- By 2030, AI could displace 20 million jobs in manufacturing
AI Facts and Statistics Indicating its Growth
While AI has been a prevalent industry for quite some time, it is perhaps one of the only markets seeing great expansion since the COVID-19 outbreak.
1. By 2027, the market for AI in healthcare will reach $61.59 billion
The intersection between AI and healthcare is the grounds for perhaps some of the most exciting developments. The benefits of AI integrating into healthcare results in a number of innovations such as superior diagnostic tools, research, and even manufacturing the COVID-19 vaccination.
Medicine AI statistics show us that it will grow at a CAGR of 43.6% by the year 2027, as AI helps us adapt to the changing conditions of our planet, especially in regards to the way we relate to each other about health.
2. Around 55% of people prefer using voice search
Voice search technology has grown to become a mainstay feature of mobile devices. Ever since Apple rolled out Siri back in 2011, the convenience of using voice search has resulted in its rapid uptake by the population.
While 18% say they never use the application, voice AI statistics show that 27% of people use it 1-5 times per day.
3. By the end of 2022, 77% of HR organizations will be leveraging AI for talent acquisition
AI technology is particularly appealing for tackling monotonous and repetitive tasks. Sorting through large amounts of data and applying inclusion and exclusion criteria is one of AI’s strengths, making it ideal for job recruiting and talent acquisition.
AI statistics suggest the vast majority of HR businesses see the potential for AI-fueled automation to reduce the number of hours spent scanning resumes. Sourcing candidates would benefit the most from automation, as well as interview scheduling and screening candidate qualifications.
4. By 2027, the global AI market is expected to grow to approximately $267 billion
AI is becoming so applicable to so many different industries, it’s hardly a surprise to learn that the market is expected to skyrocket over the next several years.
As AI growth statistics highlight, the AI market was worth around $27.23 billion in 2019, making this prediction that much more astonishing. With capital growth like this, AI is making a massive claim on helping create a new and fully automated future, and it’s all happening much faster than anyone thought.
5. The market for AI in retail will be worth $23.32 billion in 2027
(Fortune Business Insights)
Statistics on AI in retail demonstrate a rapid increase in AI use within the retail sector, expanding at a CAGR of 29.6%.
Much of the growth taking place is to maintain adequate supply chains, but there is also a rising demand for overall productivity is increasing standards for analytical quality and decision-making factors as well.
6. In the period between 2021 and 2025, the market for AI in education will grow by $253.82 million
Smart devices and digitalization are some of the factors laying the groundwork for AI to revolutionize the education system. Increased investment in advanced education tech will lead to significant growth, as statistics on AI tutoring indicate. The CAGR in the 2021-2025 period should be over 45%.
Among the most fascinating applications of AI in education is the ITS (Intelligent Tutoring System). ITS is designed to provide personalized, rapid feedback to learners and teachers alike. It collects student data to gauge each individual’s learning success and capabilities, doing so at a rate and scale beyond what any teacher could do on their own.
How big is the AI industry?
The data tells us that in 2020, the AI industry was worth around $22.6 billion. This presents a substantial growth from 2018, when the industry had a market value of just over $10 billion.
The CAGR curve for AI will only get increasingly steeper. By 2025, it should be worth a staggering $126 billion and is set to continue to grow exponentially.
Implementation and Investment
7. 78% of brands will implement AI by the end of 2020
Personalization through AI data processing can provide customers with user-friendly online experiences, promoting revenue and the appeal of ecommerce. When looking at statistics of brands who use AI, we can see that almost 80% of brands intend to take on AI tech to improve the quality of their services.
8. More than 240 available jobs at Nike include the word “data.”
Nike is increasingly incorporating AI into its business model, in particular through the use of predictive analytics. Data is king for any manufacturing company looking to foresee customer needs and purchase patterns.
Nike and AI statistics show that while 87% of their customer base is wholesale, they are interested in focusing on their direct-to-customer model making great use of AI programs designed to analyze big data.
9. In Q2 2020, global AI startup funding reached a total of around $7.2 billion
AI-focused startups have been enjoying great growth in the past few years. The improvement of AI technology has given rise to innovative ways to use it, which startups try to capitalize on.
AI startup statistics for 2020 show that startup funding broke through the $7-billion mark, with some of the most significant projects being in delivery services, data management and smart farming.
10. 75% of banks with over $100 billion in assets are implementing AI strategies
Major banking institutions are catching wind of the power AI has to transform their industry. Three-quarters of banks worth over $100 billion are integrating AI in their infrastructure, but according to statistics on AI in banking, just 46% of smaller banks are interested in making the same move.
The areas where AI should yield the best results in banking are:
- payment processing,
- anti-money laundering
- fraud detection,
- Personalized customer experience
11. The market for AI in manufacturing will reach $16.7 billion by 2026
The use of AI in the manufacturing sector is driven by an increased need to interpret large data sets, make predictions for production effectiveness, perform 24/7 unskilled labor tasks, and perform machine maintenance that is otherwise quite dangerous for human workers.
AI factory stats show that industry leaders already are and will continue to implement embedded intelligence to increase efficiency and remove unnecessary human labor. The types of AI used in this industry most are AI machines connected through IoT (internet of things), which allows machines to collect performance data, and share diagnostics with other machines on the network.
The mass-manufacturing of the COVID-19 vaccine is a prime example of how AI is contributing to manufacturing. With more speed and precision than any team of workers could ever achieve, AI is helping humanity face one of it’s greatest problems today.
12. AI stats reveal that global military spending on AI is projected to reach $18 billion by 2025
(Wiley Online Library)
AI in the military brings with it a range of possibilities, going well beyond the killer robots that immediately come to mind when hearing “AI” and “military” in the same sentence. Target planning, facial and weapon recognition, and language interpretation are but a few of the many possible applications.
AWS (Autonomous Weapons Systems) is the area of greatest government interest, according to AI warfare statistics. For example, the U.S. intends to spend somewhere around $17.5 billion on military drones by 2021.
13. AI in cybersecurity will reach $30.9 billion by 2025
(Global News Wire)
AI introduces an entirely new paradigm of cybersecurity. Rather than adding walls to keep hacking attempts at bay, AI can quickly notice any activity that looks like hacking and block the ones responsible for it.
Artificial intelligence will likely be far more effective than the traditional cybersecurity measures currently in use. AI cybersecurity statistics suggest the penetration of this technology into cybersecurity will only become more prevalent, sophisticated, and effective as our lives shift more and more online.
As such, the implementation of AI in cybersecurity is on the rise, with an expected CAGR of about 23.4% between 2019 and 2025. At this rate, this market is primed to keep growing strong well beyond 2025.
AI Statistics on the Benefits of Artificial Intelligence
The benefits of AI are just beginning to be seen as the market drastically expands. AI becomes available and pervasive in society, allowing businesses, governments, and individuals to find the many positive impacts that AI can have on society.
14. Driverless vehicles can eliminate up to 50 minutes of daily driving time
(Injury Claim Coach)
Autonomous cars are possibly one of the most talked about signs of the future, and company’s like Tesla are making this fantasy and very certain reality. While human and AI car accident statistics concern many when thinking about driverless cars on the road, once the technology is perfected, they will bring many benefits to individuals and society.
By reducing commute times, lowering car accidents caused by human error, reducing emissions, and giving people with disabilities a new way to get around, driverless cars may be the best AI invention of the century.
15. Some AI algorithms can detect specks of lung cancer with a 95% accuracy rate
The algorithm of Ulas Bagci, a computer-vision specialist at the University of Central Florida in Orlando, has demonstrated AI’s effectiveness in lung tumor detection.
The latest AI and diagnosis statistics showed that this algorithm is around 30% more accurate than traditional diagnostic methods used by radiologists and can detect small tumors invisible to the human eye.
16. AI may create 97 million new jobs by 2025
(World Economic Forum)
While the general fear about artificial intelligence is that it will eliminate jobs from flesh-and-blood people, it has the ability to create a significant amount of job opportunities.
As the World Economic Forum’s AI job statistics highlight, artificial intelligence could create millions of new job openings by 2025. While it is likely that AI will eliminate the need for human workers in mass manufacturing and transport services, the new possibilities may result in healthier industries that are less strenuous to the worker.
17. Amazon’s recommendation engine contributes 35% to the company’s revenue
(Global AI Hub)
Amazon AI statistics are used to generate purchase recommendations to customers and to improve services and delivery times. Machine learning uses the analyses of vast sets of data to recognize patterns and make predictions. This is an immense benefit to companies like Amazon who generate recommendations to customers based on their spending habits and product preferences.
18. The global gaming industry will grow at a CAGR of 12% between 2020 and 2025
Artificial intelligence was made to improve the gamer experience, and gamers appreciate it. AI games statistics show strong growth that is predicted to continue through 2025.
AI transforms the gaming world from simple things like perpetual storylines to complete virtual reality simulation and mobile gaming.
19. The global market size for sports analytics was worth $885 million in 2020
(Grand View Research)
AI contributes massively to the world of sports analytics and has been a pivotal part of effective coaching, performance evaluation for athletes, and beyond. According to AI sports statistics, the market for sports analytics worldwide will expand at a CAGR of 21.3% from 2021 to 2028.
AI in this sector will help with a range of tasks, such as gauging probabilities of a win and perfecting game plans. Artificial intelligence in sports goes beyond the game itself, however. AI also helps in personalizing marketing for sports fans by analyzing and targeting specific groups in the audience and personalizing their experience.
Negative AI Influence Statistics
Like with any new technology, there are downsides to artificial intelligence. AI can get a lot of flack, as people fear the unknown power of this immense industry. Negative impacts and design flaws do exist in AI products, needing to be remedied as it forges to the new future.
20. Machines handle 30% of all labor
One of the most common concerns about introducing AI into our societies is the fear of automation replacing entire job industries for real people. The fear isn’t baseless for certain industries. The prevalence of AI replacing jobs in statistics is significant across more sectors than you might imagine, from manufacturing to transportation to office workers.
It’s estimated that by 2025 machines will take over 50% of labor jobs, leaving many people needing to re-educate themselves to compete in the new job market.
21. 42% of the jobs lost during COVID-19 are gone for good
The coronavirus pandemic turned hordes of industries upside down, forcing them to quickly adapt. When human contact needed to be limited, many sectors opted to use AI as a solution, and now they don’t see a point in going back.
As the stats on AI’s impact on careers seem to indicate, this loss of jobs will only become worse. Employers are figuring out better ways to leverage their AI solutions, making them even more cost-effective than before.
22. Around 50% of existing transportation jobs are facing the risk of automation
Transportation is one of the most impacted industries by automation. With driverless trucks, and automated loading/unloading, AI is a cost-efficient, reliable and fast alternative to human labor in this sector.
The statistics about AI and its ability to wipe out entire careers are chilling, leaving many looking to see if the jobs created can balance out the potentially devastating impact AI will have on many people’s lives.
23. 49% of consumers think that automation in healthcare isn’t safe
In essential services like healthcare, individual perception of safety can be just as important as the actual safety level. The public’s ability to trust AI with their personal health is a huge step to take, and AI safety statistics reveal that almost half of people don’t feel ready to have AI present in their health care.
The most significant reason for this mistrust was concern about privacy. It is widely known that AI is a powerful data collection tool, and many people worry that their personal information won’t stay private with artificial intelligence involved.
24. AI could displace as many as 20 million jobs in manufacturing by 2030
Some alarming statistics of AI taking over factory jobs in the US and beyond again highlights the invasive takeover of manufacturing positions by AI. A single AI “worker” replaces on average 1.6 flesh-and-blood employees making it extremely cost-effective and efficient.
In particular, regions with low average income will bear the brunt of this worker displacement as they are more likely to work in manual labor or factory positions. This issue is two-fold, according to multiple AI taking jobs stats, in that these positions also require minimal formal education, meaning the displaced workers are unlikely to be qualified to fill AI-related positions that will be introduced to the market without re-education.
The field of artificial intelligence is bursting with information and exciting innovations that are making the world (for the most part) a better place. AI is integrating into virtually every industry, and in the next ten years, it will grow exponentially.
AI stats show us the pervasiveness of this technology and helps us dream of the possibilities of how to use it and solve modern problems that currently evade humanity. Of course, with any new technology, negative aspects exist – but perhaps unlike any other invention, AI may just be able to solve the problems it creates on its own.
People Also Ask
Despite so many of us being unaware of the fact, AI is being used all around us. The odds are you’ve already interacted with it many times, and you might’ve not even realized it.
Among other places, artificial intelligence is present in manufacturing, disease mapping, virtual travel booking agents, and smart assistants (e.g., Alexa), or conversational marketing bots.
There are four accepted classifications of AI:
- Reactive machines
Reactive machines are AI that perceive things directly. They have no concept of the past or future and are useful for making predictions based on available data. This type of AI are inherently non-interactive but incredibly trustworthy.
- Limited memory
Limited memory AI are machines or software that can use past experience/predictions to make better-informed decisions and predictions in the present. Driverless cars are a good example, as they must monitor the car’s speed, changes in the road, and other cars on the street and respond based on the information they have gathered.
- Theory of mind
Theory of mind implies that the AI can perceive, retain, and understand information about the world they perceive. They know that human beings have thoughts and expectations about how interactions will go, and they will have to be capable of adjusting their own behavior in accordance with different circumstances.
This is a futuristic type of AI that is yet to exist. It includes AI that have their own consciousness and awareness of themselves as an entity in this world and, as such, can make their own decisions beyond programming, with the ability to change.
The following countries are at the forefront of AI development and adoption:
- United Kingdom
- United States
Of these, Singapore, the United Kingdom, Germany, and the United States spearhead AI integration. The U.S., in particular, is a hub for AI research.
China is well on its track to become a member of this prestigious list. It has expressed its determination to become ‘a principal world center of artificial intelligence innovation’ by the year 2030.
It isn’t easy to set aside a single AI for being the “most powerful.” That said, there are certainly some that stand out for their capabilities.
The TX-GAIA at the Lincoln Laboratory Supercomputing Center, the Ascend 910 AI processor, and Microsoft’s supercomputer are a few strong candidates. They are all well-known in the AI research community for limiting breakers and flagships in fields like machine learning.
The most common classification divides artificial intelligence into three categories. By that metric, the three types of AI are:
- Artificial Narrow Intelligence
- Artificial General Intelligence
- Artificial Superintelligence
These classifications gauge how capable an AI is at performing various tasks. For example, narrow AI can only handle a few particular tasks. On the other hand, superintelligence can reason and compute far better than humans.
Yes, artificial intelligence can improve itself. In fact, AI has the ability to learn from its own mistakes and improve without any need for human intervention.
One particular algorithm called AutoML-Zero provides a good demonstration of this ability. This algorithm can develop other AIs by testing, evaluating, and changing parts of them. It’s capable of doing this at an astounding speed, repeating the entire process more than 10,000 times a second.
Some of the jobs that AI cannot take over (for now, at least) are those that have a high degree of the so-called “human touch.” In other words, jobs that involve a lot of communication and emotional intelligence are safe for the time being.
Some jobs of this nature include:
- Human resource managers
- Marketing managers
- Public relations managers
- Sales managers
- Event planners
- Chief executives
- Software developers
- Graphic designers
While you should never say never, the likelihood that AI will take over the human race is unlikely. This scenario would require self-aware and conscious AI, which innovators are still a far way away from.
The majority of AI currently being integrated into society are limited memory machines programmed and designed to complete repetitive tasks or analyze large amounts of data and make predictions. These machines are hardly close to anything that can think for themselves, outside of a program installed onto its hard drive.
Yes, Siri is an example of a weak AI. This means Siri is capable of completing a limited set of pre-defined tasks.
Also known as narrow artificial intelligence, this kind of program can sometimes simulate authentic intelligence. That makes it appear like a real, human-like intelligence.
However, it lacks the adaptability and independence to be truly intelligent. The majority of research and AI stats has dealt with this form of AI. In contrast, research into superintelligence is relatively limited.