27+ Artificial Intelligence Statistics & Trends For 2024

We all have imagined a world supplicated with Artificial Intelligence, which has been depicted in almost every sci-fi movie.

With 35% of the companies adopting AI globally and an expected $15.7 trillion increase in global GDP by 2030, many developing and developed countries are investing in AI.

The global AI industry experienced a surge of investments after the pandemic, with more than $241 billion already invested. The valuation is set to grow by a huge percentage in the near future, reaching above a trillion dollar mark by 2030.

This article will shed light on the current state of AI, what future it holds, and what it means for businesses.

Artificial Intelligence Statistics (Top Picks 2024)

  • The global AI market was valued at over $241.8 billion in 2023.
  • 35% of businesses globally have adopted AI.
  • The United States AI market is set to reach $87 billion by the start of 2024.
  • In 2024, the AI market is anticipated to grow by 38%.
  • AI will add an impressive 15.7 trillion dollars to the world’s GDP by 2030, growing it by 14%.
  • By 2025, nearly 100 million people will be working in the AI sector, and the industry will generate 12 million new jobs by then.
  • The global AI market is expected to reach $1.81 trillion by 2030.
  • 32.9% of businesses have already replaced some human tasks with AI solutions.
  • Nearly 20 million manufacturing jobs could be lost due to automation by 2030.
  • China is the leader in AI adoption, with 58% of businesses deploying AI.

Let us delve into the detailed Artificial Intelligence statistics.

AI Market Size Statistics (2023-2030)

AI is becoming a norm in the latest industry trends, and many enterprises are investing in AI to boost their productivity and revenue.

1) As of 2023, The global AI market is valued at $241.8 billion

With the emergence of AI, many businesses are investing in AI technology. This revolution results in big brands putting their chips on AI in hopes of gaining valuable returns. 

The AI market will grow at a CAGR of 17.30%, resulting in a market volume of $738.80 billion by 2030.

Source: GrandviewResearch

2) United States AI market set to reach $237 billion by 2030 

According to Statista, The United States will have a consistent investment in AI. With an expected annual growth rate of 15.36%, the total market volume is predicted to reach $237 billion by the year 2030. 

The United States AI market is valued at $87.18 billion in 2023.

Source: Statista

3) The global AI Market is expected to reach $1.81 trillion by 2030 

AI technology is affecting every domain, and businesses are not shying away from adopting AI. Big companies like IBM, Google, and Microsoft are already invested in AI. With that, the AI market will experience a swell and reach around $1.81 trillion by 2030. 

Source: Nextmsc

4) AI will add $15.7 trillion to global GDP by 2030

With the emergence of responsible AI, AI will drive elevated product variety in more personalized and affordable ways. AI will contribute to essential domains like healthcare, agriculture, food, education, and energy, resulting in greater productivity.

Source: Economic Times

5) The International AI chip market will cross the $80 billion mark by 2027

Artificial Intelligence Chip Statistics

Due to the use of AI in various industries, to implement AI, the demand for hardware AI chips is high. This includes CPU, GPU, ASIC, and FPGA hardware chips.

 The AI chip market is set to gain around $80 billion by 2027, with an expected CAGR of 35% from 2019 to 2027.

Source: Theinsightpartners

6) The AI software industry amassed a global annual revenue of over $50 billion

Most of the businesses are opting for the generative AI technology. Applications like ChatGPT, Stable diffusion, and DALL-E are currently reigning in the Generative AI field. This has resulted in the acquisition of over $50 billion in global revenue with AI software up to 2023.

Source: Omdia

7) The AI telecommunication market is valued at $2.5 billion and rising

AI assists the telecommunication industry with network optimization, network security, self-diagnostics, customer analytics, and support, which ensured a constant increase from 235 million in 2016 to around 2.5 billion in 2023.

Source: Marketsandmarket

8) The security AI market is expected to cross $22 billion by 2024

Artificial Intelligence Security Statistics

AI is already becoming reliable, impacting the security industry for good. AI is contributing to network, application, and cloud security. It is also looking out for on-site and cloud security. The security AI market is currently at $21.19 billion as of 2023 and is predicted to reach $50.61 billion by 2028.

Source: MordorIntelligence

9) Global AI funding fell to $45 billion in 2022

International AI funding reached $45 billion in 2022. This was a 34% decrease from the year 2021. However, the funding will reach more significant numbers in the coming future.

AI funding peaked in 2021 with more than $72 billion in investments.

Source: (CBinsights)

How Is the world adopting to the AI revolution

Due to AI’s benefits, AI is not a concept anymore but is being practically adopted and integrated by companies from all niches globally.

10) 35% of businesses globally have adopted AI

Since the launch of AI, many businesses are adopting AI. According to a report by IBM in 2022, It was recorded that 35% of businesses are using AI. Also, 41% are exploring AI and might adopt it in the future. 

Source: IBM

11) 64% of businesses expect AI to increase productivity in their everyday activities

businesses expect AI to increase productivity

AI has proved its mettle by providing reliable and fast solutions in every domain. It was reported that 64% of companies believe that AI will help improve customer relations and increase productivity.

Source: IBM

12) China Leads In AI Adoption In 2024

As of 2023, China is leading in the adoption of AI. In China, 58% of the companies have already deployed AI, with 30% considering integration of AI. China is expected to experience a 26% boost in GDP by 2030.

Source: economicTimes

13) The United States is the second-largest adapter of AI

25% of the companies are using AI in the United States, and 43% are exploring the AI domain to adopt. North America is set to have a 14% impact on the GDP, increasing it by around $3.7 trillion by 2023.

Source: pwc

14) More than 100 million people will use generative AI in the USA by 2024 

Since the launch of ChatGPT in 2022, there has been a significant increase in the use of generative AI by Americans. 100 million people are predicted to use generative AI by 2024, and the number of people will reach 116 million by the year 2025.

Source: insiderintelligence

15) AI adoption is set to rectify the labor shortage

According to a report from IBM, it was seen that 30% of IT professionals use AI to rectify labor and skill shortages. Also, AI is being deployed to minimize repetitive tasks.

Source: IBM

16) 9 out of 10 organizations are adapting AI to gain an edge over their competitors 

In a report by MIT Sloan, it was recorded that most organizations are choosing AI to have a competitive edge over the industry competition.

Source: MIT Sloan Management

17) 52% of the telecommunication companies are using AI bots

AI adaptation was rare a few years ago, but it has become a trend. A report from Gartner revealed that 52% of telecommunication companies had adopted AI chatbots for customer analytics and support.

Source: gartner

18) AI’s Impact on Businesses And Employment

AI is set to automate almost every industry and reduce human intervention. The manufacturing industry will experience a drastic change, and many processes will be automated. Though AI automation is bound to create many jobs, it will also affect the previous employees, taking away their jobs.

19) AI will create around 12 million jobs by 2025 

Incorporating AI will eliminate 85 million jobs while creating 97 million new ones, for a net gain of 12 million jobs.

Source: Weforum

20) 49% of employers believe AI will have a positive impact on job growth

A report from Weforum indicated that 49% of employers expect AI to positively impact job growth, while 23% believed AI to have a negative impact.

21) There will be an increased demand for IT skills 

With only 18% of companies having a data team and less than 6% having a data engineer, Data engineers are rare.

Incorporating AI into almost every industry creates a big demand for skilled Software and Data engineers. This will definitely increase the new talent acquisition to deploy throughout various industries.

Source: CIO

22) Automation risks job elimination in the manufacturing industry  

Automation due to AI will result in the elimination of jobs. Around 38% of jobs in the US, 35% in Germany, 30% in the UK, and 21% in Japan will be affected by AI automation.

Source: Weforum

23) 66% of the recruiters believe AI can help in recruitment 

In a study conducted by tidio, 95% of the hiring managers said that AI can help tremendously in shortlisting candidates and save a lot of time in screening candidates.

Source: tidio

Statistics Associated AI’s Use Cases

Due to AI’s versatility, which transforms everyday tasks, its most popular uses include responding to messages, answering financial questions, organizing travel, and creating social media posts.

24) Netflix’s AI recommendation engine generates $1 billion in revenue every year

Netflix has incorporated AI in its applications and websites. The ML technology that Netflix uses has impacted a large percentage of its revenue. Netflix’s AI-powered personalized recommendation engine pulls in around $1 billion annually.

Source: Business Insider

25) 71.2% of Marketers believe using AI will help them run campaigns effectively

76% of marketers use generative AI for basic content creation and copywriting.

19.2% of marketers spent more than 40% of their marketing budget on AI-driven campaigns.

71.2% believe AI can outperform humans at their jobs. 

Source: insiderintelligence

26) 62% of Consumers trust AI-created content

AI created content Stats

62% of consumers are confident using generative AI in marketing and advertising. 

64% of consumers are willing to buy a new product suggested by generative AI.

Source: Capgemini

27) Companies are using AI for sales

26% of organizations use AI for marketing and sales, with 22% using conversational AI or virtual assistants specifically. 

Source: IBM

According to Gartner, AI will generate 30% of outgoing marketing messages from large organizations by 2025.

The top generative AI use case is in sales and customer service. According to 35% of executives, virtual assistants are used for customer engagement. (Capgemini)

According to 83% of business executives, the most applicable use of generative AI in their company is through chatbots, which can automate customer service and improve knowledge management. (Capgemini)

By 2030, one out of every ten cars will be self-driving. The global market for self-driving vehicles is expected to grow from 20.3 million in 2021 to 62.4 million by 2030, with 10% of vehicles expected to be driverless. (Marketsandmarkets)

Artificial Intelligence Trends for 2024

AI technology is evolving daily, and many more features are being added.

Generative design tools and voice synthesizers

The next generation of generative AI tools will go far beyond chatbots and image generators.

According to the latest research, generative AI could add $2.6 trillion to $4.4 trillion in annual value across the 63 use cases examined. 

Meta has introduced Voicebox, a machine-learning model that can generate speech from text. Voice model that can synthesize speech across six languages: English, French, Spanish, German, Polish, and Portuguese.

Source: Venturebeat, McKinsey

Ethical Artificial Intelligence

Ethical AI is artificial intelligence that follows well-defined ethical guidelines concerning fundamental values such as individual rights, privacy, fairness, and non-manipulation.

85% of consumers believe organizations must consider ethics when using AI to solve problems in society. 

AI ethicists will become more in demand as companies appear to prove that they adhere to ethical standards and implement appropriate safeguards. 

Sources: IBM, C3.ai

Artificial Intelligence in customer support

Customer support is the backbone of any business to keep the consumers satisfied with the services. Customer service is an area of business operations where many routine, repetitive procedures are mixed with the occasional complex and critical task. AI can be crucial to automate repetitive tasks and reduce human efforts.

Around 75% of customer service leaders expect AI to transform customer support careers in the next 5 years.

Source: intercom

Other Significant Artificial Intelligence Statistics

  • ChatGPT currently has over 100 million users and nearly 1.5 billion monthly visitors. 
  • Google processes 6.9 billion daily search queries using global AI technologies. (Google)
  • By 2025, the wearable AI (smartwatch) market is anticipated to grow to $180 billion. (Global Market Insights)
  • According to an Adobe survey, 39% of major businesses planned to invest in AI services. (Adobe)
  • Over 4 billion voice assistants like Google Assistant, Amazon’s Alexa, and Apple’s Siri are active to date, and it is predicted that there will be more than 8.4 billion devices by the year 2024. (Businesswire)
  • AI in the education market is projected to reach $2.0 billion by the start of 2024, with a CAGR of 42.9% from 2018.  (pwc)
  • By 2025, 80% of retail executives expect their companies to use AI automation. (Analytics Insights)

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