Artificial intelligence and machine learning are among the fastest-growing technologies at the moment. According to artificial intelligence statistics, AI is already established across multiple industries. However, one of the most prominent uses can be seen in the healthcare sector, especially with the arrival of the pandemic and the growth of telemedicine.
However, AI can play a key role in all sorts of business. For example, it can save trillions of dollars to the financial sector and improve the marketing efforts of small businesses, depending on the tools that are used.
AI Stats (Editor’s Choice)
- By 2023, robots might take up to 20 million jobs in factories.
- AI market size reached $62.35 billion in 2020.
- The US dominated the market at about 40% of global revenue in 2020.
- AI delivers better customer service, according to 27% of consumers.
- A total of 72% of decision-makers state AI will bring advantages to jobs in the future.
- As of 2017, 61% of businesses have adopted AI solutions.
- AI might save up to $1 trillion to the banking industry.
- A total of 80% of business executives in retail plan to adopt AI tech by 2027.
General Statistics About Artificial Intelligence
Artificial intelligence is already present in several industries. However, many employees fear it will take over their jobs in the near future. While some are right, it’s essential to note that AI will also generate millions of jobs soon.
1. AI will create up to 97 million jobs globally by 2025.
(Source: Allwork)
Many worry about AI taking their jobs and replacing them. While that might be true for some occupations, AI stats predict that this technology will also create about 97 million jobs by 2025. Another 85 million jobs will be displaced.
2. A total of 16% of US jobs may be replaced by AI tech.
(Source: FinancesOnline)
On the other hand, those who worry are right, since about 16% of US jobs will be replaced by machine learning, AI, robots, and automation. Additionally, 36 million Americans who have jobs exposed to automation will have 70% of their work taken over by robots.
3. By 2023, robots might take up to 20 million jobs in factories.
(Source: FinancesOnline)
Additionally, artificial intelligence statistics show that robots will take over 20 million jobs in factories by 2023. Food preparation and service jobs are at the highest risk of being automated, followed by production operations and office and administrative support.
4. Global spending on cognitive AI systems reached $57.6 billion in 2021.
(Source: IDC)
In 2021, the global spending on AI technology and systems reached $57.6 billion. Based on the artificial intelligence future trends, AI, machine learning, and augmented reality will impact almost all organizations across various industries.
5. By 2030, AI will contribute $15.7 trillion to the global economy.
(Source: AI-TechPark)
AI and machine learning technology will grow immensely in the following decade. So much so that by 2030, the experts expect AI to contribute $15.7 trillion to the global economy. Additionally, AI technology will become the forefront of digital transformation.
Artificial Intelligence Market Growth
The AI and machine learning industry will only continue to improve. Big players like Facebook and Google will keep investing in research and development. Soon enough, the AI market will witness immense growth.
6. AI market size reached $62.35 billion in 2020.
(Source: Grand View Research)
It was estimated that the global AI market size reached $62.36 billion in 2020. The constant research conducted by tech giants drives the adoption of AI and machine learning on a global level, according to the artificial intelligence market size data. Automotive, healthcare, retail, and other industries benefit greatly, but soon AI will find its place in the center of organizations.
7. Global revenue of the AI market is forecasted to grow 16.4% YoY.
(Source: IDC)
Regarding global revenue of the AI market, it’s forecasted to grow 16.4% YoY. in 2021, the revenue hit $327.5 billion. By 2024, it’s expected that the revenue will surpass the $500 billion mark.
8. From 2021 to 2028, the AI market will have a CAGR of 40.2%.
(Source: Grand View Research)
Artificial intelligence growth statistics and long-term forecasts show that the AI market will have a CAGR of 40.2% from 2021 to 2028. AI will remain a crucial revolutionary element in the upcoming years, with Facebook, Microsoft, Google, and other tech giants investing in research and development of the technology.
9. The software solution industry was responsible for 38% of the global AI market share in 2020.
(Source: Grand View Research)
One of the main industries that led the AI market was software. It accounted for 38% of the global AI market share in 2020. Deep learning accounted for the same percentage of global market share.
10. The US dominated the market at about 40% of global revenue in 2020.
(Source: Grand View Research)
The US had the highest artificial intelligence revenue of 40% during 2020. The leading role of the US comes from government initiatives that encourage the adoption of AI technology in multiple industries. The Asia-pacific region will also witness significant growth in the AI market in the upcoming years.
11. By 2028, the BLS forecasts there would be 37,000 AI specialist jobs.
(Source: Computer Science Degree Hub)
When it comes to data on artificial intelligence job growth, there will be about 37,000 AI specialist jobs on the market by 2028. That’s a 16% growth rate. Additionally, even if there’s a downturn in the economy, it shouldn’t affect the AI job demand.
12. The area of AI specialists hiring has grown 74% in the last four years.
(Source: Computer Science Degree Hub)
What’s more, the area of AI specialists hiring grew 74% in the last four years. More companies reported using AI tech and according to predictions, more will use it in the future.
Artificial Intelligence Benefits
Artificial intelligence and machine learning bring various benefits across industries. Additionally, this technology can be used in so many ways that everyone, including the consumers, can enjoy in it.
13. AI delivers better customer service, according to 27% of consumers.
(Source: FinancesOnline)
AI brings multiple benefits across industries. For example, 27% of consumers claim that AI provides better customer service than human agents, according to AI statistics. Additionally, 73% of consumers are open to businesses using AI if it makes their lives easier.
14. A total of 72% of decision-makers state AI will bring advantages to jobs in the future.
(Source: FinancesOnline)
Those businesses that decide to adopt the AI technology will have an immense advantage, according to 72% of decision-makers. Furthermore, 59% of executives claim AI can improve the use of big data in their organizations, facts about artificial intelligence show.
15. Additionally, 84% of managers believe AI will help improve the use of their expertise and skills.
(Source: FinancesOnline)
A total of 84% of managers also believe that AI can help them improve the use of their expertise, knowledge, skills, and judgment. In addition, 51% of executives say that their AI goals are to improve the functions, features, and performance of their products.
AI Adoption Statistics
AI is already present in healthcare, financial, retail, and many other industries. What’s more, it will only expand as the technology starts offering new features. Since the pandemic, AI has become somewhat established in healthcare, and according to the data, there’s more to come.
16. As of 2017, 61% of businesses have adopted AI solutions.
(Source: TechRepublic)
The latest data from 2017 shows that 61% of businesses adopted AI in that year. That’s up 38% from 2016, according to AI usage statistics. Those numbers show that even back in 2017, AI technology has found a way into organizations and was used to improve operations.
17. AI will have the highest impact on technology, media, and communications.
(Source: The Pipeline ZoomInfo)
A total of 72% of organizations in media, technology, and communications expect that AI will significantly impact product offerings in the next five years. In addition, the data about AI adoption by industry shows that AI in media and communications will improve offerings and processes.
18. A total of 63% of research subjects claim that AI and machine learning will provide excellent value in specialty care departments.
(Source: SDGlobalTech)
AI and ML will provide excellent value in specialty care departments, according to 63% of research subjects. Additionally, 44% of researchers think that AI and ML are efficient in taking care of patients at the moment.
19. Telemedicine is set to hit $20 million in 2022.
(Source: SDGlobalTech)
AI in healthcare statistics point out that telemedicine technology is set to reach $20 million in 2022. This movement will likely happen due to the fact that telemedicine can bridge the gap between doctors and patients and reduce the level of annoyance in the waiting rooms.
20. AI might save up to $1 trillion to the banking industry.
(Source: The Financial Brand)
Besides healthcare and media, AI is set to help the banking industry save up to $1 trillion in costs, according to AI in banking statistics. Because of AI, financial institutions could expect a 22% cost reduction in operating expenses.
21. Additionally, AI already impacts about 2.5 million financial service workers in the US.
(Source: The Financial Brand)
What’s more, AI tech already impacts about 2.5 million financial service workers. A total of 1.2 million employees are directly exposed to AI in front, middle, and back-office, many of them using it without knowing it.
22. Only 23% of businesses have incorporated AI into operations.
(Source: The Pipeline ZoomInfo)
AI in business statistics show that only 23% of businesses have incorporated AI into their operations. The largest companies are also supposed to use AI more, but only half do.
23. About 63% of businesses claim the need to reduce the costs will make them use AI.
(Source: The Pipeline ZoomInfo)
It seems that the need to reduce costs is one of the main reasons for adopting AI technology. At least that’s what 63% of businesses claim. On the other hand, 54% of executives claim AI has also increased productivity in their organization.
24. Overall, 28% of top-performing organizations use AI for marketing.
(Source: FinancesOnline)
Based on AI in marketing statistics, 28% of top-performing organizations utilize AI tech for marketing. Additionally, 64% of large companies leverage AI to automate specific marketing-related activities.
25. Additionally, 29% of large organizations use AI to manage marketing campaigns.
(Source: FinancesOnline)
A total of 29% of large organizations use AI for their marketing campaigns. Still, only 12% of SMBs do the same.
26. A total of 80% of business executives in retail plan to adopt AI tech by 2027.
(Source: Webinterpret)
When it comes to AI in retail statistics, 80% of business executives plan to adopt AI tech by 2027. As a result, the retail industry is expected to experience enormous growth, and AI can only improve its position among other industries.
Conclusion
The number of industries and businesses that are adopting artificial intelligence and machine learning technology is growing. AI brings multiple benefits, as the consumers and business executives claim.
For example, artificial intelligence statistics show that AI can improve an organization’s marketing efforts. AI in retail improves customer satisfaction. Additionally, machine learning helps businesses manage big data and improve operations.
However, not everyone is keen on implementing this technology. Small businesses have yet to use more AI tools to witness its effectiveness and benefits. Still, by 2028 the AI market will expand, and more AI experts will be in demand.
FAQ
There are several types of AI out there. The four main types include reactive machines that perform basic operations. This is the simplest level of AI, and it doesn’t do any learning. The second type is limited memory. This one stores previous data to use in future predictions.
The third type is the theory of mind. This AI begins to interact with the thoughts and emotions of humans. Finally, the fourth type of AI is self-aware. However, this type of AI has yet to be created. It will go beyond the human, and people will likely have to negotiate with it to fulfill certain terms.
At the moment, Sophia, a human-like robot, is known as the world’s most advanced AI. It was made by Hanson Robotics, and it’s a unique combination of science, engineering, and art. Sophia is both a human-crafted character and a platform for AI research.
Sophia is also the world’s first robot citizen and the first robot Innovation Ambassador for the United Nations Development Programme. However, based on what Sophia says, no AI is as smart as humans are, and her thoughts are also built by people.
There are multiple global leaders in the AI industry. The US remains a strong market for AI research and development as the National Science Foundation invests more than $100 million annually in AI research. The US military also created a new Joint Artificial Intelligence Center to explore what AI can do in defense.
On the other hand, China has an excellent basis for industrializing AI. China’s government has increased its focus on AI. In addition, China has advanced commercial capabilities in AI.
With every technological innovation, some jobs become obsolete. When it comes to AI, it will likely reduce the need for bookkeeping clerks, couriers, proofreaders, computer support experts, retail salespeople, and similar.
At the same time, HR managers, marketing managers, event planners, writers, software developers, editors, graphic designers, and similar occupations should remain safe. These employees will likely only use AI tools to improve their services.
Currently, only 23% of businesses use AI in their operations. On the other hand, 63% of businesses use AI to reduce operational costs. For 54% of businesses, AI has increased productivity. When it comes to marketing, about 28% of best-performing organizations use AI to improve their promotions.
Still, many more businesses could benefit from AI. It appears that small businesses, in particular, need more time to adapt to the latest technology, according to artificial intelligence statistics.