Artificial intelligence (AI) is now practically everywhere. Right from healthcare to agriculture. sectors of all caliber and purposes are leveraging the power of this amazing technology.
The current market size of AI sits around $187 billion dollars and is expected to reach $353 billion by 2025.
With such huge potential, many people are looking to invest in the technology. But before that, It is crucial to understand the trends that drive this growth and other important data that govern the sector. We have done our research so that you can save your time.
Take a look at our detailed AI Statistics in this post. Let us get into it, shall we?
Artificial Intelligence Statistics (Top Pick)
- Artificial Intelligence’s market size is predicted to be around $187 billion in 2023.
- 77% of businesses are either using or exploring AI globally.
- AI Market value in the fashion industry is worth $910 million in 2023.
- Average funding for AI startups has increased by 66% between 2021 and 2023.
- Tencent is the largest AI patent owner in the world, with 9,614 patents to its name.
- Bytedance is the world’s most valued unicorn AI startup.
- By 2027, the market for AI chips is anticipated to generate $83.25 billion in sales.
- AI is majorly used for Quality Control in the Health and Pharmacy industry.
- AI is majorly used for Cybersecurity purposes in the IT and Telecommunication sector.
- The value of the worldwide AI market is anticipated to soar, reaching $433.5 billion in 2026 and $829 billion in 2028.
- The Asia-Pacific area will have the greatest CAGR between 2018 and 2025.
Artificial Intelligence Market Size
The global market size for artificial intelligence was valued at $136.55 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030.
This growth is being driven by the increasing adoption of AI-powered solutions across various industries.
If we do the math based on the projected CAGR, we can get the following values that gives us the market size of AI in the years to come.
Here is a table showing the size of the AI market over the years:
|Year||AI Market Size|
Major Regions For the AI Market
North America is the largest market for AI at the current times. North America’s favorable ecosystem together with collaborations between industries, academic communities, and government, has created ideal conditions for AI research, development, and commercialization to thrive.
Let us take a look at facts and figures related to Artificial Intelligence across world regions in the sections below:
- North America has 36% of the global AI market share.
- The North American AI market is valued at $30 billion.
- The United States has the highest share of AI in this region (60%), but when it comes to the fastest-growing nation, Canada takes the top spot.
- OpenAI, Nuro, and Uptake are some of the top AI companies in North America.
- The top three AI investors in North America are Intel Capital, Institutional Venture Partners, and Y Combinator are few of the biggest investors in AI in this region.
- he Asia Pacific region is the second largest market for AI, accounting for over 25% of the global market share.
- The growth of the AI market in Asia Pacific is being driven by the increasing adoption of AI in countries like China, India, and Japan.
- The Asia Pacific AI market is expected to expand at the highest CAGR of 42% from 2023 to 2032.
- Currently, Asia Pacific region’s AI market is valued at 22.5 billion.
- The European market for AI is expected to grow at a CAGR of 35.5% from 2023 to 2030.
- The growth of the AI market in Europe is being driven by the increasing adoption of AI in a number of countries, such as Germany, the United Kingdom, and France.
- The UK is home to 334 startups in the AI sector. Germany has 167 and France has 135 AI startups respectively.
- Here is a list of the top 5 funded AI Startups in the European region:
|SHIFT Technology||2013||$540 million|
General Artificial Intelligence Statistics
Statistics indicate that more businesses are beginning to use it in their everyday operations. Around 23% of businesses are using AI in processes and products.
Here is a brief set of Artificial Intelligence Usage Statistics:
- 50% of the 300 billion emails received each day are flagged as spam by machine learning.
- 40% of individuals regularly do searches using voice assistants.
- Businesses with over 100k workers are more likely to use AI in their business strategy.
- By 2025, it is anticipated that the wearable AI industry will be worth $180 billion.
- China will hold a 26.1% market share by 2030 and be the worldwide leader in AI technology.
- As per D labs, the top challenge to AI adoption is that the company doesn’t understand the importance of AI.
The AI limits are now way beyond listening to voices and sounds, now it can even generate voices! Have a look at the best AI voice generators.
Here is a table showing the top 10 challenges with AI adoption:
|#1||Lack of company understanding related to AI.|
|#2||Lack of appropriate Data.|
|#3||Lack of Employee Skill Set.|
|#4||Inability to find good vendors to work with.|
|#5||Inability to find the proper Use Case.|
|#6||The inability of the AI team to explain how a solution works.|
|#7||Lack of synergy between working teams.|
|#8||Fear in management about overhauling legacy systems.|
|#9||Some solutions are not easy to integrate.|
Artificial Intelligence Usage in Businesses
- 84% of multinational corporations think AI will provide them a competitive edge.
- The percentage of email marketers that expected to use AI was only 17%.
- A staggering 83% of businesses claim that incorporating AI into their company plans is a major priority.
- 91.5% of top companies regularly spend money on artificial intelligence.
- According to Gartner, AI organizations may expect a 25% increase in customer satisfaction by 2023.
- According to 72% of executives, AI will provide the greatest competitive edge in the future.
- 37% of the firms polled by Gartner reported using AI at work.
- Since 2000, the number of AI companies has multiplied by 14 times.
- The use of AI in sales teams increased to above 25% in 2021.
- 43% of manufacturers have increased the number of data scientists and data quality analysts on staff, and 35% plan to do so in the next five years.
Positive Results of Using Artificial Intelligence.
- 61% of staff claim that increased use of AI at work has increased their productivity.
- By 2030, AI could be able to cut global greenhouse gas emissions by 4%.
- Labor productivity is forecasted to increase by around 30% with AI implementation in businesses.
- According to 63% of CEOs, AI will have a similar beneficial effect on job vacancies as the internet did when it initially became widely accessible.
- Implementing Artificial intelligence resulted in the largest cost reduction (44%) for the supply chain management sector.
- Amazon cut its “click to ship” time using AI by 225%.
- Netflix saved $1 billion in 2017 by implementing Machine Learning.
- 27% of people globally believe AI can provide superior customer service compared to human workers.
- Content Marketing Agencies can now post more content than ever using AI Writing software. Here’s the list of best AI Writers.
Is Artificial Intelligence Threat to Human Workforce?
AI Technology has frequently been cited to indicate that the work economy is on its way out. While automation and artificial intelligence in the workplace may result in the loss of certain jobs, they can also lead to the creation of new ones and prevent unemployment. According to World Economic Forum research, AI will generate a net 97 million additional employment by 2025.
Although it is unrealistic to believe that AI will ultimately replace people, here are some statistics related to AI and its relation to employment:
- 38% of people predict that AI will remove jobs at their place of employment during the next three years, while 13% predict that automation would result in the loss of a sizable number of jobs.
- In the OECD, 14% of employment is highly automated, while another 32% might undergo significant transformation.
- Just 10% of employment is thought to be at risk of being eliminated due to automation as per McKinsey Global Institute.
- Over the course of the next ten years, AI may eliminate 375 million jobs and displace up to one billion employees globally.
- The good news is that, by 2030, artificial intelligence might produce $15.7 trillion for the global economy and 97 million new positions and enable employees to use more creativity.
- Over 120 million people worldwide will require up-skilling in the following three years as a result of AI’s influence on jobs.
- In the next 50 years, 7% of Americans who work in the public, private, or NGOs predict that robots and computers will inevitably replace most jobs held by people.
- Here is a list of 10 Jobs that AI is likely to replace in the future:
- Computer Support Specialists.
- Bookkeeping and data entry.
- Content Writing.
- Advertising Salespeople.
- Graphic Designers.
- Retail Sales.
- Taxi Drivers.
- Here is a list of 10 jobs that are highly unlikely to be replaced by AI.
- Care Takers.
- Human Resource Managers.
- Chief executives.
- Software Developers (Birthgvers of AI).
Generative AI Statistics
Generative AI is a type of AI that can make new things, like text, pictures, sounds, and videos. It does this by learning from a lot of existing things and then using that knowledge to make new things that are similar to the things it learned from.
A great example can be ChatGPT. It is a generative ai chatbot that can have a conversation with you like a real person.
Here are some amazing statistics on Generative AI:
- The generative AI market is valued at over $13 billion as of 2023 and is predicted to reach $22 billion by 2025.
- The global generative AI market is growing at a CAGR of 27.02%
- Until 2022, less than 2% of outbound messages from large organizations were synthetically generated. However, it is projected that this number will increase to 30% in the future.
- The GPT-3 language model has been trained on 175 billion parameters while the GPT 4 model is trained on more than 1 trillion parameters.
- A recent survey by Statista revealed that 29% of Gen Z, 28% of Gen X, and 27% of Millennial respondents use generative AI tools in the office.
- generative AI startups raised $2.6 billion in 2022.
AI and Climate Change Statistics
How is AI impacting the environment? Well, let us take a brief look at it in this section.
- The medical devices sector will have an 18.3% average reduction from AI-enabled use cases in the coming few years.
Here is a table showing the same data for other sectors:
|Industry||Average Emission Reduction|
|Energy (oil, Coal)||16.5%|
|Utilities (Electricity, gas, Water)||15.9%|
- Consumer Retail will see the most contribution in economic emissions intensity (EEI) from Artificial intelligence by 2030.
Here is a table showing the data for other sectors:
|Industry||AI’s Contribution as Share of EEI Reduction|
|Oil and Gas||18%|
Not talking about chatbots while talking about AI is not fair.
In 2023, chatbots have become even more advanced and prevalent in our daily lives. With the increasing popularity of conversational interfaces and AI-powered technology, chatbots are now able to provide a more personalized and efficient experience for users. Many businesses have integrated chatbots into their customer service strategies.
Let us take a look at some interesting statistics about them in this section.
- Chatbots are now capable enough to complete 70% of conversations.
- 74% of customers prefer chatbots over a human corporate agent to solve their queries.
- chatbots save up to 30% of businesses in total costs by diminishing chat support according.
- 55% of businesses gather more sales by using chatbots.
- 34% of people prefer chatbots in the eCommerce sector to other service-oriented sectors.
- 64% of businesses trust chatbots to provide personalized customer support than regular customer service.
- ChatGPT is overall the best chatbot currently.
Read In More Detail: Chatbot Statistics
History of Artificial Intelligence
We thought of giving our readers an interesting timeline where we discuss all the major events in the AI sector.
1940s: The concept of AI is first introduced by Alan Turing, who proposes the Turing test as a way to measure machine intelligence.
1950s: The first working AI programs are written, including a checkers-playing program and a chess-playing program.
► 1956: The Dartmouth Summer Research Project on Artificial Intelligence is held, which is considered to be the start of modern AI research
1960s: AI research sees a major boom, with the development of new algorithms and techniques. However, the field also experiences a number of setbacks, leading to a period known as the “AI winter.”
► 1966: ELIZA, the first chatbot, is created
1970s: AI research begins to recover from the AI winter. New advances are made in areas such as natural language processing and computer vision.
1980s: The field of machine learning sees a major revival, with the development of new algorithms that can learn from data.
1990s: The internet becomes widely available, providing AI researchers with a vast new source of data to train their models.
► 1997: Deep Blue, a chess-playing computer developed by IBM, defeats Garry Kasparov, the world chess champion
2000s: Deep learning, a type of machine learning that uses artificial neural networks, becomes increasingly popular. Deep learning leads to major advances in AI, particularly in areas such as image recognition and natural language processing.
2010s: AI begins to see widespread commercial adoption. Tech giants such as Google, Amazon, and Facebook start integrating AI into their products.
► 2011: Watson, a question-answering computer developed by IBM, wins the game show Jeopardy
► 2016: AlphaGo, a Go-playing computer developed by Google DeepMind, defeats Lee Sedol, the world Go champion.
2020s: AI continues to evolve at a rapid pace. New applications for AI are being developed all the time, and the field is poised to make even greater advances in the years to come. During this time, GPT-3, a large language model developed by OpenAI, is also released. GPT-3 is able to generate human-quality text, translate languages, and write different kinds of creative content
► 2022: ChatGPT is released.
Future of Artificial Intelligence Technology (2023 and Beyond)
Although it is difficult to predict how technology will advance, the majority of experts believe that basic jobs will become even simpler for computers to perform. That implies that robots will be highly practical in daily life.
Similarly in businesses, AI will help simplify day-to-day tasks and allow workers to be creative. Here are some statistics associated with AI and its future:
- Decision-makers believe AI will provide them with a competitive edge in the future at 72%.
- China will hold a 26.1% share of the worldwide AI market by 2030, making it the largest AI market.
- Instead of only processing keywords, search engines will be able to comprehend the meaning of a search query by the year 2029.
- In 2023, 8 billion voice assistants will be in use worldwide.
- By 2030, automation may free about 10% of nursing tasks.
- By 2025, it is anticipated that the AI sector will be responsible for 9% of all new jobs in the US.
- Cloud-based Artificial Intelligence will grow 5 folds in 2023.
- In 2023, 40% of I&O teams in big companies will utilize automation, increasing IT efficiency and enhancing agility and scalability.
Conclusion: Artificial Intelligence Statistics (2023)
AI performs better when we feed it with more and more data. The more data we can collect from actual people in the field in real-time, the more intelligent our AI systems will be. More human connections can be made between AI and use cases, which will improve our ability to address user concerns. Technology will keep on evolving as we move ahead and the world sees technological advancements.
So, This was my take on Artificial intelligence Statistics as of 2023. I hope you gained a lot of insights into this exciting technology. I will keep on updating this article as I will get more information.