Artificial intelligence (AI) is changing our world in incredible ways, affecting businesses, technologies, and our everyday lives. To truly understand its impact, we need to look at the numbers that demonstrate its growth and power.
In this article, we've gathered over 40 interesting statistics that give you an inside look into the world of AI. These numbers cover important topics like market size, revenue, how AI is being used in different industries, and its effects on jobs. We'll also explore what the future might hold for AI, giving you an idea of the changes and advancements we can expect.
Table of contents
Leading Artificial Intelligence statistics
AI market size and revenue statistics
The adoption rate of AI by industry
Where is AI used today?
The impact of AI in the workspace statistics
What the future holds for AI
Join us in exploring the exciting world of AI through these eye-opening statistics, which will help you gain a better understanding of this game-changing technology and what it means for our future.
By 2030, AI technology is predicted to reduce the total U.S. workforce by 16%. (PWC)
40% of marketing and sales departments rank AI as their top technology priority than any other department. (Forbes)
75% of C-level executives fear going out of business by 2025 if they don’t adopt AI in their operations. (Accenture)
By 2030, AI is foreseen to contribute $15.7 trillion to the global economy. (PWC)
A whopping 54% of executives say that implementing AI in their workplace has increased productivity. (PWC)
The gaming application segment of the wearable AI market is anticipated to grow at a CAGR of 35% from 2018 to 2025. (GlobeNewswire)
The number of AI-powered voice assistants worldwide is forecasted to double to 8.4 billion by 2024. (Statista)
By 2030, China is predicted to lead the world in AI technology, accounting for 26.1% of the global market share. (PWC)
The AI market is predicted to grow at an annual rate of 33.2% between 2020 and 2027. (GlobeNewswire)
By 2025, 80% of retail executives expect their companies to use AI-powered intelligent automation. (Analytics Insight)
The worldwide AI market was valued at nearly $100 billion in 2021 and has jumped to $210 billion since. It's projected to reach a whopping $2 trillion by 2030.
The market for artificial intelligence is expected to grow rapidly over the next decade, rising from about $100 billion U.S. today to nearly $2 trillion U.S. by 2030.
The AI market is growing rapidly and will continue to do so in the future as shown below.
AI adoption continued at a stable pace in 2022, with more than a third of companies (35%) reporting the use of AI in their business, a four-point increase from 2021.
The automotive AI market is projected to expand from USD 2.6 billion in 2022 to USD 9.6 billion by 2030, at a 27.2% annual rate between 2022 and 2030.
Here’s the automotive AI Market Report Scope:
Projected Market Size by 2030
USD 9.6 Billion
CAGR during 2022-2030
The Baseline Year
Segmentation by Process
Signal recognition, image recognition, data mining.
Segmentation by application
Human-machine Interface, semi-autonomous driving, autonomous driving.
Market driving forces
Blind spot alert, advanced driver assistance systems, cloud-hosted intelligence driver assist features, internet of things.
According to Juniper, the global spending by retailers on AI services will reach $12 billion by 2023, up from an estimated $3.6 billion in 2019.
The report also estimates that over 325,000 retailers will adopt AI technology over the period.
Forecasts indicate that by 2024, the world will have over 8.4 billion digital voice assistants like Siri, Google Assistant, and Alexa in use – a number higher than the global population.
Although digital assistants are all designed to perform similar functions, the differences between them can be quite significant.
For example, Google Assistant has a 93% accuracy record in navigation compared to its voice assistant competitors.
Here's a breakdown of the leading digital assistants' IQ accuracy test results:
52% of people are confident that cyber-security is not a threat when sharing personal information online because of robust AI technologies.
In fact, according to a study by We Forum, 95% of cybersecurity breaches result from human error.
Research has predicted that chatbots will save the banking industry $7.3 billion globally by 2023, up from an estimated $209 million in 2019.
This translates to 862 million hours saved in 2023, amounting to nearly half a million working years.
The research also found that AI, including chatbots, will have a highly disruptive impact on insurance claims management, leading to cost savings of almost $1.3 billion by 2023, across motor, life, property, and health insurance, up from $300 million in 2019.
Data shows that in 2020, only 39% of organizations planned to invest in AI technology.
In 2022, the number of organizations using or exploring AI has increased by another 38%
Currently, 77% of organizations are using or exploring AI.
Here are the top 10 user groups of AI at organizations today:
Developers and data scientists
Customer service professionals
Based on the stats above, it is clear that AI adoption differs across companies, geographies, and industries.
Across countries, most IT professionals at organizations exploring or deploying AI report that their company is developing or already has AI strategies in place.
Let’s take a look at the top 10 factors driving the adoption of AI.
Advancements in AI that make it more accessible
Need to reduce costs and automate key processes
Increasing amount of AI embedded into standard off-the-shelf business applications
Demands due to the COVID-19 pandemic
Pressure from consumers
Directives from leadership
Labor or skills shortages
64% of B2B marketers found AI valuable for their sales and marketing strategies.
Among the companies that have implemented artificial intelligence (AI) technology in their supply chains, those that saw the most considerable cost decrease were in the supply chain management industry.
A recent report has identified a small group (12%) of high-performing organizations that are using AI to generate 50% more revenue growth while outperforming on customer experience (CX) and Environmental, Social and Governance (ESG) metrics.
The rise of AI could significantly boost corporate profits.
Accenture suggests that AI has the potential to boost rates of profitability by an average of 38% by 2035 across 16 industries.
In manufacturing alone, AI can potentially boost GVA by almost US$4 trillion in 2035.
AI is expected to increase productivity in the education sector by between 0.9% and 1.6% by 2035. Labor-intensive sectors like agriculture and construction, which tend to have low productivity growth, will experience a boost in GVA growth.
Research shows that AI has the potential to boost rates of profitability by an average of 38% by 2035 and lead to an economic boost of $14 trillion (U.S.) across 16 industries in 12 countries by 2035.
However, this can only happen if organizations adopt a people-first mindset and take bold and responsible steps to apply AI technologies to their business.
Here's a breakdown of the projected impact of AI on GVA growth in different industries by 2035:
Already steady state
Information & Communication
Wholesale & Retail
Transportation & Storage
Agriculture, Forestry & Fishing
Accommodation & Food Services
Arts, Entertainment & Recreation
62% of consumers would rather talk to a chatbot than wait 15 minutes for an answer.
38% of medical providers use AI-powered computer systems as their diagnosis assistants
AI-powered voice assistants are already installed in more than 4 billion devices, and this number is expected to reach 8.4 billion by 2024.
25% of travel and hospital companies worldwide that are currently using chatbot technology are likely to be early adopters of artificial intelligence-powered chatbots
41% of people use the voice search function at least once every day.
Despite the popularity and rapid growth of AI, consumers are still skeptical about its ability to deliver equal or better customer service than humans.
In fact, only 27% of consumers think it can.
It's no surprise that AI adoption is still slow in many industries—barriers to AI adoption remain persistent.
Let's take a look at the top five factors that are keeping businesses from successfully adopting AI.
Limited AI skills, expertise or knowledge
Price is too high
Lack of tools or platforms to develop models
Projects are too complex or difficult to integrate and scale
Too much data complexity
In a survey, 20% indicated that automating tasks such as invoicing and contract validation was their second most important use for artificial intelligence.
75% of financial services professionals plan to use Artificial intelligence systems to eliminate fraud.
Although chatbots and virtual personal assistants are mostly used by companies to serve their external customers, 56% of organizations today use artificial intelligence internally to support decision making and give recommendations to employees.
53% of IT companies across the globe reported they have accelerated AI adoption for the last 2 years.
AI is helping companies address labor and skills shortages by automating repetitive tasks.
30% of global IT professionals say employees at their organization are already saving time with new AI and automation software and tools.
Some 69% of companies have started to use Responsible AI practices, but only 6% have made them an integral part of their work.
This means they apply a responsible, ethical approach to their data and AI models, helping them engender trust and scale with confidence.
AI is certainly revolutionary and transformative.
The companies that used AI to increase their sales say they've seen a range of benefits, including a more than 50% increase in leads and appointments, cost reductions of 40%–60%, and call time reductions of 60%–70%.
Data shows that 87% of global organizations believe that artificial intelligence will give them an advantage over their competitors.
AI is being integrated into the strategies of nearly 75% of companies, who are reworking their cloud plans to achieve success.
A whopping 84% of executives believe they will not achieve their growth objectives unless they scale AI.
42% of companies plan to invest heavily in ChatGPT in 2023.
Generative AI is getting better at understanding language, inferring intent, and being independently creative.
According to Accenture, machine learning technology is set to radically alter science and business.
The future of work will be enhanced by the use of AI co-pilots, as people will be able to achieve more than they could alone.
98% of global executives agree AI foundation models will play an important role in their organization’s strategies in the next 3 to 5 years.
Language tasks can make up 51% of the total time employees work, while 40% of all working hours can be impacted by large language models
85% of customers' relationships with businesses will be managed without human interaction.
A study found that the market for AI healthcare was on track to hit $6.6 billion in 2021.
The research also noted that key clinical health AI applications could potentially create $150 billion in annual savings for the US healthcare economy by 2026.
Data suggest that 41% of consumers believe that artificial intelligence will make their lives better in some way.
The contribution of AI to China's economy is projected to reach 26.1% of its GDP, making it the country with the largest contribution from AI.
North America comes in second place, contributing 14.5% of its GDP.
It's forecasted that by 2030, the labor force will have reduced by over 1/4 of what it was in 2017.
It's also estimated that globally, between 400 million and 800 million workers may need to change occupations by 2030.
A new report details that by 2025, 16% of US jobs will be replaced by automation, while 9% of new jobs will be created—resulting in a net loss of 7% of US jobs.
The diverse array of AI statistics we've explored showcases the undeniable impact artificial intelligence has on our lives today and its potential to shape our future. While some may feel uncertain or only somewhat equipped to tackle the challenges that come with these advanced technologies, it's crucial to stay informed and adapt as AI continues to evolve.
We hope that this collection of AI statistics has provided you with valuable insights into the rapidly expanding world of artificial intelligence. To delve deeper into AI models and further enhance your understanding, take a look at the Entry Point platform. Together, let's embrace the transformative power of AI and harness its potential for a better tomorrow.