Artificial intelligence (AI) has been a subject of people’s imaginations and the main narrative of science fiction films for a long time. However, it has become a reality. As AI statistics show, it’s an integral part of different industries and people’s lives.
This technology has led to many crucial advances and plays a significant role in improving and reforming sectors. An increasing number of institutions globally, from governments and huge corporations to small internet companies, use AI.
As more and more people recognize its significance, there’s no doubt AI is here to stay, so let’s learn more about it.
Top Artificial Intelligence Statistics (Editor’s Choice)
- 37% of businesses use AI regularly in their work processes
- AI increased productivity in 54% of companies that adopted the technology
- With over 2,400 postings, California is the state with the most AI job prospects
- The global AI market’s worth was $327.5 billion in 2021
- Custom AI solutions cost between $6,000 and $300,000 in 2021
- AI technologies will replace 85 million jobs by 2025
AI Adoption Statistics
Artificial intelligence is taking over almost every industry. AI can perform many tasks faster than any human with more precision and efficiency. So, let’s see how the technology implementation is going.
1. About 37% of businesses use artificial intelligence on a regular basis.
The most recent trends show a significant increase in technology implementation across all industries. Among numerous examples, 52% of the telecom organizations use chatbots to improve customer experience, and 38% of healthcare providers perform computer-assisted diagnostics.
2. Over half of enterprises use AI to improve workflows.
Companies experience countless artificial intelligence benefits, and the most significant is cutting costs. That said, 47% of organizations use the technology for security monitoring and detection and 48% to improve customer experience. Another advantage, 51% of businesses find, is using AI to analyze large datasets.
3. 56% of businesses consider staff skills the most significant problem with AI implementation.
Introducing AI into the daily workflow comes with its challenges. Over half of the organizations find their staff skills insufficient to deal with the innovation. Furthermore, 26% of businesses struggle to find a starting point, and 42% experience fear of the unknown.
4. 54% of executives observe enhanced productivity due to AI solutions.
(Ring Central, Techopedia)
If implemented successfully, artificial intelligence’s impact on business can be enormous. It can enhance output and productivity, increase employee satisfaction, and lower operational costs.
Furthermore, 63% of businesses believe that the need to save costs will force them to invest in the technology in the future.
5. 67% of people have talked to an AI-powered chatbot in the last year.
(Invesp, ClearBridge Mobile)
Many COVID-19 patients were isolated due to health regulations and restrictions. Fortunately, voice and conversational AIs assisted patient screening and triage. Apple’s Siri also contributed by examining COVID-19-related issues and offering telehealth apps.
6. Research on AI adoption by industry shows that electronics, technology, and computers industries are in the lead, with 17% of survey respondents.
Financial services come second, with 15% of respondents. Healthcare and education follow with 9% and 8%. Yet, the energy and media and entertainment industries stand at 3%, and the chemical and pharmaceutical industries stand at 2%.
While the percentages are still low, AI use in agriculture is expected to redefine the sector and increase investments.
Artificial Intelligence Growth Statistics
Despite the negative influence of the COVID-19 pandemic, the AI market is going strong, but specific sectors are doing better than others. The technology brings a lot of potential and unique opportunities, so keep reading to find out which market segments are expanding.
7. The global artificial intelligence market was worth $327.5 billion in 2021.
(Dash Technologies, Markets and Markets)
AI trends show the market is expanding due to its rise in investment. Moreover, COVID-19 brought some positive developments. For example, the pandemic boosted the adoption of AI-based tools and solutions in many sectors, one of which is healthcare.
8. The global AI software market’s revenue is about $247.6 billion a year.
According to the latest data, software is the most profitable of all market segments, bringing in 88% of the revenue. In comparison, the services sector accounted for $19.7 billion, followed by hardware with $14.1 billion.
9. The global artificial intelligence market is expected to expand at 17.5% CAGR by 2024.
According to technology growth statistics, the AI market has been steadily rising for the last few years. During the 2020–2021 period, the market’s value jumped at a CAGR of 16.4%, and the positive trend is expected to continue in the next few years as AI solutions are in demand in nearly every field.
10. The global market size for the use of AI in retail was $5.6 billion in 2021.
COVID-19 had an unexpected and negative impact on almost every industry, and AI in retail wasn’t an exception. The market’s growth slowed down in 2020, reaching $3.9 billion, but is projected to increase exponentially in the next few years, reaching $23.32 billion in 2027.
AI in Business Statistics
A growing number of businesses take advantage of the newest developments in AI to improve their workplace processes and minimize expenses. An example is Identity Guard, which utilizes AI-based tools to protect its clients’ digital information from mishandling.
Consequently, high-profile investors are looking to fund artificial intelligence businesses. Let’s learn more about that.
11. AI startups received record funding of over $20 billion in the second quarter of 2021.
Statistics about artificial intelligence show that while the funding deals volume declined, their worth increased significantly. Multiple investments of $100 million and 24 cases of “unicorn” funding of $1 billion contributed to the record total sum for the year.
Furthermore, AI exits increased 125% from the first quarter of 2021, and IPOs reached another quarterly record of 11.
12. The US private investments in AI reached about $23.6 billion yearly.
Artificial intelligence statistics show that many countries compete to lead in the global field of innovation. Yet, the US is the top destination when it comes to private investments in AI. China comes second, with $9.9 billion in annual funding, followed by the EU, with a little over $2 billion.
13. California is the best state for AI jobs, with over 2,400 postings.
(AiThority, Dice Insights)
Santa Clara and San Francisco are California’s top cities with artificial intelligence job growth. The other states with good work opportunities include Texas, New York, and Virginia, while Alaska, Mississippi, and South Dakota have the smallest number of AI job offers.
14. Custom AI solutions cost from $6,000 to $300,000 in 2021.
The AI cost includes rollout and development. But, if the company uses third-party AI software, the price can reach $40,000 a year. Several factors affect the final sum, e.g., whether you choose a custom or a pre-built solution and the required functions.
Artificial Intelligence Predictions
AI has a promising future in medicine, education, manufacturing, home security systems, and many other sectors. Even though numerous companies make excellent use of AI technologies, Nest Secure stands out with the services it provides.
Keep reading to discover more about the direction of AI development.
15. Companies working with AI are forecast to have, on average, 35 projects in 2022.
According to the latest analysis, in 2019, AI-related companies had about four projects a year. However, AI statistics show that following the steady rise over the last three years, professionals in the field expect the number to reach 35 in 2022.
16. The AI market’s worth will surpass $500 billion by 2024.
Experts predict that the AI market’s worth will reach $554.3 billion by 2024. While software brings the most AI market revenue, it’s the slowest growing sector, with a CAGR for the next five years of 17.3%. On the other hand, AI services’ five-year CAGR is expected to be 18.4%.
17. The wearable AI market will reach $180 billion worth by 2025.
(Global Market Insights)
The market offers devices with various functionalities, such as mobile connectivity, medical monitoring, or activity tracking. The projected AI industry growth will occur due to the increasing demand for smartwatches and fitness bands providing activity and health monitoring.
AI algorithms used to efficiently analyze data acquired by wearable devices will become increasingly common.
18. By 2025, machines with AI will replace 85 million jobs.
While this sounds scary, research suggests that even more jobs will appear thanks to this technology. Namely, AI replacing jobs statistics estimate that around 97 million new jobs will emerge by 2025.
Artificial intelligence can replace people in some professions as it doesn’t get tired or bored, makes fewer mistakes, and can complete dangerous tasks with no risk to its life. Furthermore, this technology is more cost-efficient than human workers.
The AI market is rapidly expanding, and many developments in the sector lie ahead. The demand for AI-based solutions is on the rise as they make people’s lives and workplaces safer and more efficient.
AI statistics paint a positive picture for everyone involved in the sector. Countries worldwide compete for a share of the market’s revenue and investments in the latest technological innovations.
The most recent trends suggest that the wider implementation of artificial intelligence will create more jobs than it will replace. Consequently, more and more businesses embrace this technology to improve their competitiveness significantly.
People Also Ask
AI plays a surprisingly big part in our daily lives. About 77% of the devices we use, such as phones, tablets, computers, feature at least one form of artificial intelligence.
The technology also has its use in the customer service sector, as 62% of people are willing to have AI improve their experiences. Furthermore, 37% of businesses regularly use AI, primarily to improve workflow and cut operational costs.
Machine learning and AI can assist in simplifying and automating the tasks involved in identifying, profiling, and classifying data. Nearly 50% of companies use machine learning, data analysis, or AI tools to fix resource shortages and issues with data quality.
Businesses in different sectors find various purposes for AI. For example, chatbots improve the customer experience in over half of the telecommunication companies. Similarly, computer-assisted diagnostics is a common occurrence with 38% of healthcare providers.
The three AI types are artificial narrow intelligence (ANI), artificial general intelligence (AGI), and artificial super intelligence (ASI). Each has unique features and functions.
For example, ANI, the only kind of AI currently available, represents machine learning. It’s a system that specializes in a particular area and can solve one problem or perform a single task.
AGI, on the other hand, it’s a concept that represents machine intelligence. It has human-like cognitive abilities like image and language processing, computational functioning, and reasoning.
ASI, the logical progression of AGI, represents machine consciousness that is more capable than a human in every domain—rational thinking, artistic expression, personal relationships.
AI has implementations in many sectors—manufacturing, healthcare, finance, transportation, urban planning, and education. Moreover, both small and large companies use AI-based solutions and tools to improve workflow and save on costs.
Furthermore, artificial intelligence software uses different techniques and tools to replicate human behavior. It learns from various data patterns and has four different types: AI platforms, chatbots, deep learning software, and machine learning software.
The global AI market size and share revenue are estimated to increase at 17.5% CAGR in the 2022–2024 period, reaching $500 billion in value. Furthermore, private and startup investments in the AI field have been notably rising, especially in the US.
Currently, North America has the largest share of the AI market, followed by the Asia-Pacific region. AI statistics show that Asia-Pacific should see significant growth in the following years due to increased investments.