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Part 220. China will soon take 25% of the AI market.
(Source:
Facts & Factors)
As the market leader in the Asia-Pacific region, China will account for a quarter of the global AI market by 2030, Growing at a CAGR of 39.1%. Its share will be worth $40.6 billion by 2026.
21. There was a 4% increase in the number of businesses adopting AI in 2022.
(Source: IBM)
In 2022, approximately 35% of businesses adopted AI, which is a growth of 4% from 2021. The growth rate is expected to be even larger by the end of 2023.
22. AI will have the biggest economic impact on the United States.
(Source:
Accenture)
At baseline, the United States has a 2.6 Gross Value Added (GVA) rate by 2035. With the adoption of AI, this is estimated to jump to 4.6. This rate of the economic impact of AI is only seen in one other country, Finland, which is expected to go from 2.1 to 4.1 GVA with the adoption of AI.
23. AI will have the biggest impact on labor productivity in Sweden.
(Source: Accenture)
AI is estimated to boost labor productivity in Sweden by 37% by 2035. This is followed by Finland (36%), the United States (35%), and Japan (34%). Spain will experience the least boost in labor productivity from AI, estimated at just 11%.
24. Generative AI software is expected to be worth $3.7 billion by the end of 2023.
(Source:
S&P Global)
Although there are many different types of AI technology, generative AI that can produce human-like content is currently making all the headlines. The popularity of ChatGPT has inspired hundreds of new startups and a competitive marketplace worth $3.7 billion by the end of the year.
Based on 263 generative AI software companies, the market is expected to reach $36 billion by 2028. This is a CAGR of 58%.
25. Code generators are the fastest-growing generative AI tools.
(Source:
S&P Global)
Although text generators are currently the most popular generative AI tool, it is the code generator segment that’s set to grow the fastest through the next 5 years. Its compound annual growth rate is 72.9%.
The second fastest-growing segment is AI image generators, with a 65.8% CAGR.
26. AI art generator Stable Diffusion is valued at more than $1 billion.
(Source:
Forbes – Stable Diffusion,
iNews)
Generative AI can create works of art not just text. With more than 10 million daily users, Stable Diffusion is valued at more than $1 billion. It is currently the leading technology outside of OpenAI’s own DALL-E art generator
It’s difficult to put a value on the AI art market, but individual pieces have sold for hundreds of thousands, and the highest-valued AI-generated NFT sold for $1.1 million.
27. The market value of AI in education is expected to hit $20 billion by 2027.
(Source:
Global Market Insights)
From AI tutoring and automated grading systems to digital courses and AI learning management systems, AI in education is expected to become a $20 billion industry by 2027.
28. AI in healthcare is predicted to be worth $187.95 billion by 2030.
(Source:
Statista – AI Healthcare Market)
From more efficiently diagnosing patients to speeding along new drug research and clinical trials, AI in the healthcare industry is expected to be valued at almost $188 billion by 2030. That’s a compound growth rate of 37% from when it was last valued at $11 billion in 2021.
29. AI will contribute an extra $3.78 trillion to the manufacturing industry.
(Source: Accenture)
Of all industries, AI is estimated to contribute the most in terms of gross value to the manufacturing industry.
Based on a non-AI trajectory, manufacturing is valued at around $8 trillion by 2033. With AI, this is closer to $12 trillion.
30. The Machine Learning market is expected to reach $225.91 billion by 20230.
(Source: Fortune Business Insights)
By automating the analysis of large amounts of data, organizations that use machine learning AI are able to gain an advantage over their competitors.
As of 2022, machine learning technology was valued at $19.20 billion and is expected to grow to $26.03 billion by the end of 2023. The United States has the largest share by region, representing $6.12 billion in 2022.
With a CAGR of 36.2%, the machine-learning market is estimated to reach $225.91 billion by 2030.
Attitudes About AI StatisticsThis data reveals the public’s perception of AI, user demographics, and other interesting stats.
31. Nearly all business owners believe ChatGPT will be a benefit.
(Source: Forbes – AI Business)
97% of 600 surveyed business owners believe ChatGPT will help their business, while 64% specified ‘improving customer relationships as a key benefit.
32. 38% of Americans are more concerned than excited about the rise of AI.
(Source:
Pew Research)
Survey data reveals apprehension about AI among US adults, with 38% saying they are more concerned than excited about the technology. 46% were neither concerned nor excited, while only 15% are excited about the rise of AI.
33. Most organizations haven’t fine-tuned their AI to be ‘trustworthy’.
(Source: IBM)
Public apprehension around AI may be justified when 74% of organizations have not made efforts to reduce bias in their AI systems. 68% do not track performance variations and model drift, and 61% do not ensure they can even explain the decisions made by their AI.
34. 78% of Americans are concerned that AI could be used for malicious intent.
(Source:
MITRE-Harris)
AI getting into the wrong hands is one thing, but 52% of poll respondents do not believe AI is safe and secure in the first place.
This might explain why 82% of the general public and 91% of tech experts want government regulation of AI. Moreover, 70% of the general public and 92% of tech experts want the industry to increase investment in AI assurance measures to protect and win over the public.
35. 75% of Americans are concerned about deepfakes and misleading AI-generated content.
(Source:
MITRE-Harris)
Another concern is that the quality of AI-generated imagery and audio is getting better by the day and it might soon be indistinguishable from the real thing.
This will make it much more difficult to verify content on social media and is leading to fear about ‘deepfakes’. I.e., content that appears to come from a real person but is actually AI-generated.
36. The UK public is most concerned about AI driverless cars and autonomous weapons.
(Source:
Ada Lovelace Institute)
A survey of 4,000 people in the UK found 72% are most concerned about advanced robotics such as driverless cars, while 71% are concerned about AI being used to develop autonomous weapons.
Moreover, 61% are concerned about AI-targeted advertising and 60% are concerned about targeted political advertising.
37. 90% support AI in detecting the risk of cancer.
(Source:
Ada Lovelace Institute)
On the other hand, some uses are seen as very positive. 9 in 10 survey respondents said using AI for detecting the risk of cancer is beneficial.
Around 70% think AI facial recognition at border control, which speeds up processing, is beneficial.
AI robotic vacuum cleaners were not considered concerning by 88% of respondents.
38. AI experts are mostly white men.
(Source:
McKinsey)
Of organizations that have adopted AI or are currently implementing it, only 27% of employees tasked with developing the AI solution are women. Only 25% are racial or ethnic minorities.
ConclusionThese fascinating AI statistics show that AI is already a massive market that will grow exponentially over the next decade.
While there are some general concerns among the public and fears of AI job losses, there are also some undeniable positives when it comes to productivity.
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