Artificial Intelligence (AI) has emerged as a game-changer, sparking a revolution across industries and molding the fabric of our society. This blog post aims to present a profound glimpse into the landscape of AI statistics in 2024, unraveling significant trends, breakthroughs, and the profound influence of AI across diverse sectors. Through an exploration of statistical data, our objective is to provide a thorough and enlightening overview of the present dynamics and prospective developments in the realm of AI.
“We’re at the beginning of a golden age of AI and are solving problems that were once in the realm of science fiction.” – Jeff Bezos
In the ever-evolving landscape of technology, Artificial Intelligence (AI) stands as a beacon of innovation, transforming industries and shaping the future. As we step into 2024, let’s delve into the latest AI statistics that illuminate the current state and trajectory of this powerful technology.
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Top Artificial Intelligence Statistics (Top Picks 2024)
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- The market size in the Artificial Intelligence market is projected to reach US$305.90bn in 2024.
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- The market size is expected to show an annual growth rate (CAGR 2024-2030) of 15.83%, resulting in a market volume of US$738.80bn by 2030.
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- In global comparison, the largest market size will be in the United States (US$106.50bn in 2024) (Source: Statista)
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- 35% of businesses globally have adopted AI. In 2024, the AI market is anticipated to grow by 38%.
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- AI will add an impressive 15.7 trillion dollars to the world’s GDP by 2030, growing it by 14%. The global AI market is expected to reach $1.81 trillion by 2030.
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- By 2025, nearly 100 million people will be working in the AI sector, and the industry will generate 12 million new jobs by then.
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- 32.9% of businesses have already replaced some human tasks with AI solutions.
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- Nearly 20 million manufacturing jobs could be lost due to automation by 2030.
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- China is the leader in AI adoption, with 58% of businesses deploying AI.
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- Netflix makes $1 billion annually from automated personalized recommendations.
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- 48% of businesses use some form of AI to utilize big data effectively.
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- 38% of medical providers use computers as part of their diagnosis.
AI Global Market Size and its Forecast
By 2027, spending on AI software will grow to $297.9 billion, with a CAGR of 19.1%. Over the next five years, the market growth will accelerate from 17.8% to reach 20.4% in 2027. Generative AI software spend will rise from 8% of AI software in 2023 to 35% by 2027, according to Garter.
AI has the humongous potential to contribute to the global economy. AI is expected to contribute more than the current output of India and China combined, to the world economy by 2030.( PWC-Sizing The Price)
AI is expected to contribute $15.7 trillion to the global economy by 2030, more than the current output of China and India combined.( PWC-Sizing The Price)
The greatest economic gains from AI will be in China which will receive a boost of 26% rise to GDP in 2030, followed by North America (14.5% boost), totaling to $10.7 trillion and accounting for almost 70% of the global economic impact.
( PWC-Sizing The Price)
AI Evolution by ChatGPT
ChatGPT has offered a sneak peek into the world of AI, generating considerable excitement with its remarkable advancements. This innovative AI chatbot facilitates human-like conversations, swiftly responding to queries and assisting users with tasks like drafting emails, essays, and code. The impact of ChatGPT extends beyond mere conversation—it significantly influences employment dynamics and boosts productivity.
ChatGPT fastest growing app with 100 million active users
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- OpenAI’s ChatGPT has taken off in record-breaking fashion. According to OpenAI, even Chat GPT, the most talked about AI tool, surpassed 10 lakh users in mere five days, after its launch in November,2022.(Statista)
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- If we compare it to its peers, then it took Instagram nearly 2.5 months to reach 1 million downloads and Netflix around 3.5 years to reach 1 million users.( Statista)
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- By January 2023, ChatGPT hit 100 million active users, making it the fastest-growing application in history.
Key Insights and Facts about ChatGPT
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- According to Similarweb, openai.com receives nearly 1.8 billion visits per month.
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- Almost 60% of ChatGPT’s social media traffic comes from YouTube, followed by WhatsApp, Facebook, Twitter and others.
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- ChatGPT has a bounce rate of 17.33%.
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- The most commonly google searched keyword is “chat gpt login” hitting nearly 6 million searches per month.
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- The maximum proportion of ChatGPT users reside in the U.S. (15.22%) followed by India (6.32%), Japan (4.01%) and others.
Major companies in AI Market:
The number of AI-related Merger & Acquisitions deals has increased from less than 100 deals in 2016 to 500 in 2019, with Apple leading the US tech giants, followed by the rest of GAFAM alongside Intel and IBM. Top AI companies and big data analytics companies are focusing on developing AI products to increase market.
To keep up with the AI market, Here is the list of top 100 AI companies in the world, These top Artificial Intelligence companies, ai data analytics companies and big data companies playing a key role in shaping the future of AI.
Read more on Top 100+ AI Companies
Generative AI a growing market
In 2022, the release of ChatGPT 3.0 brought about a new awakening to the possibilities of generative artificial intelligence. A good understanding of this trend comes from observing the difference in interest in generative AI on Google, with interest growing rapidly from 2022 to 2023. It is to be expected that this interest will continue as both ChatGPT and others aim for updated chatbot versions in the future and further generative AI programs are in development.
Gartner Predicts 80% of Large Enterprise Finance Teams Will Use Internal AI Platforms by 2026
By 2026, more than 80% of enterprises will have used generative artificial intelligence (GenAI) application programming interfaces (APIs) or models, and/or deployed GenAI-enabled applications in production environments, up from less than 5% in 2023, according to Gartner, Inc.
The 2023 Gartner Hype Cycle for Generative AI identified key technologies that are increasingly embedded into many enterprise applications. Specifically, three innovations that are projected to have a huge impact on organizations within ten years include GenAI-enabled applications, foundation models and AI trust, risk and security management (AI TRiSM) (see Figure 1).
Figure 1: Hype Cycle for Generative AI, 2023
AI Growth Drivers:
With the rise of AI and its global applications, various sectors are experiencing growth, reshaping our vision of the future. Ongoing technological advancements, including wearable technology, chip market solutions, self-driving cars, and automated medical procedures, are significantly influencing market growth. Let’s explore how these growth drivers are poised to bring about substantial changes in the years ahead.
