Top Artificial Intelligence (AI) Statistics and Facts 2024

Artificial Intelligence, abbreviated as AI, is a transformative technology enabling computer systems and machines to mimic Human Intelligence. Artificial Intelligence is used to develop algorithms that can learn, reason, and make decisions like humans.

It is currently emerging as one of the most promising and transformative technological advancements as it continuously automates tasks and activities. The AI systems are trained using a wide range of data to think like humans and respond accordingly.

In this article, we will justify the rising popularity of Artificial Intelligence with some interesting Artificial Intelligence stats and facts.

AI Adoption Rate Around the World

Top AI Statistics and Facts to Blow Your Mind

Here is a list of facts and stats revealing the massive upside in the market valuation of AI and the continuous rise in the count of AI users.

• According to Statista, the global AI market is valued at 142.3 billion U.S. dollars as of 2023
• Chat GPT fastest growing app with 100 million active users
• AI will contribute $15.7 trillion to the global economy by 2030.
• 83% of organizations worldwide claim that AI is a top priority for their business processes.
• By 2025, as many as 97 million people will work in AI.
• By 2025, AI might eliminate 85 million jobs but create 97 million new ones, resulting in a net gain of 12 million jobs.
•  50% of all business leaders utilize AI in their content creation process.
• 81.6% of digital marketers think content writers’ jobs are at risk because of AI.
• The largest AI patent owner in the world is Baidu (13,993), followed by Tencent (13,187)  IBM ( 9,500 )
  

Artificial Intelligence Ecosystem

Artificial Intelligence Market Size, Adoption and Growth Statistics

Witnessing the adoption of Artificial Intelligence across various sectors, the top research companies have anticipated the future of AI and its growth.

•  As per the Gartner report, the global AI market is expected to reach $266.92 billion by 2027.
• According to NMSC, the global explainable artificial intelligence (XAI) market was valued at five-point-one billion U.S. dollars in 2022. By 2030, the market is forecast to have a value of over 24 billion U.S. dollars.
• As per a study by Statista, the chatbot market will reach around 1.25 billion U.S. dollars in 2025, a significant rise from the market size of 190.8 million U.S. dollars in 2016.
•  The global investment in Artificial Intelligence, for 2022, reached almost 92 billion U.S. dollars. (source: Statista)
• The global AI software market was 9.51 billion U.S. dollars in 2018 and is forecast to grow to 118.6 billion U.S. dollars in 2025.
• Two-thirds (66%) of companies are executing or planning to apply AI to address their sustainability goals. (IBM)
• Larger companies are now 100% more likely than smaller companies to have deployed AI in their organization.
• Around half of organizations are seeing benefits from using AI to automate IT, business or network processes, including cost savings and efficiencies (54%), improvements in IT or network performance (53%), and better experiences for customers (48%).
• Rate of adoption and deployment of artificial intelligence (AI) in enterprises globally and in selected countries in 2022. Chinese and Indian companies are leading the way, with nearly 60% of IT professionals in those countries saying their organization already actively uses AI.

Artificial Intelligence Uses Statistics and Facts

Witnessing the growth of Artificial Intelligence, professionals across various sectors have started leveraging this technology for various purposes. Checkout top ten professionals leveraging AI along with the list of factors driving its growth.

Most commonly adopted Al use cases within each business Function, % of respondents.

Who are the top ten user groups of AI at organizations today?

54% IT professionals
35% of Data engineers
29% of Developers and data scientists
26% Security professionals
25% Customer service professionals
23% of Marketing professionals
21% of Product managers
21% Sales professionals
21% HR professionals
21% of Finance professionals

Percentage of respondents who say given Al capability is embedded in products or business processes in at least one function or business unit:

What Are the Top Ten Factors Driving AI Adoption?

43% Advancements in AI that make it more accessible
42% Need to reduce costs and automate key processes
37% Increasing amount of AI embedded into standard off-the-shelf business applications
31% Competitive pressure
31% Demands due to the COVID-19 pandemic
25% Pressure from consumers
23% Directives from leadership
22% Company culture
22% Labor or skills shortages
20% Environmental pressures

Generative Artificial Intelligence Statistics

The generative AI is also getting a lot of attention lately as it goes beyond limitations to generate new and unique data within seconds.

• By 2025, the global generative AI market is expected to surpass $$22 billion.
• As of 2023, the global generative AI market is worth $13.71 billion.
• The Global Generative AI Market is expected to reach USD 110.8 Billion by 2030, increasing at a CAGR of 34.3% from 2022 to 2030. (Acumen)
• It’s estimated that ChatGPT costs at least $700,000 per day to run.
• Over 4 million AI-generated images are produced per day using Dall-E.
• The generative artificial intelligence (AI) field has received a sizeable amount of venture capital (VC) funding in the past three years, totaling $1.7 billion over 255 deals. (Gartner)
• As of 2022, North America contributed 42.10% of the global market share for the generative AI market.

Artificial Intelligence in Marketing – Statistics

The market value of artificial intelligence (AI) in marketing worldwide from 2020 to 2028

 The marketing sector has started investing in AI as it helps them enhance strategies and seek attention of potential customers to drive better results.

•  Among marketers already using generative AI, 76% said they use it for basic content creation and to write copy. (InsiderIntelligence)
• 62% of consumers are comfortable with generative AI in marketing and advertising as long as it doesn’t affect the overall experience negatively.
• 64% of consumers are open to purchasing a new product recommended by generative AI.
• Likewise, 57% of U.S. adults are comfortable with AI targeting advertising to shoppers, and only 13% are “not at all comfortable” with this use of AI.
• 23% of marketing professionals in organizations use AI. Compare that to 54% of IT professionals.
• 26% of organizations use AI for marketing and sales, while 22% specifically use conversational AI or virtual assistants.
• 29% of companies already use or consider using natural language processing (NLP) AI for marketing.
• 16% of organizations are using AI for sentiment analysis.
• 14% of organizations are using generative AI for marketing and sales.
• 53% of IT leaders who say their organizations use generative AI beyond ChatGPT use it for marketing and advertising.
• Gartner predicts that AI will generate 30% of outgoing marketing messages from large organizations by 2025.
• 46% of organizations that already use AI said they use generative AI most for marketing and communications.
•  60% of marketers use AI to predict customer behavior and needs.
• 47% of marketers trust AI to target ads.
•  41% of businesses use AI to create personalized consumer experiences.
• AI in marketing is estimated to be worth more than USD 48.8 billion by the year 2030 and will grow at a CAGR of 28.6%
•  High-performing marketers claimed to have a fully developed AI strategy in 70% of cases.
•  Marketers claim that using AI reduces call time by 70%.
• In 2021, the market for artificial intelligence (AI) in marketing was estimated at 15.84 billion U.S. dollars. The source projected that the value would increase to more than 107.5 billion by 2028. 
• As of March 2023, among the presented companies, the most funded artificial intelligence marketing-related start-up was Jasper, an AI platform allowing companies and teams to scale their content strategies, with 131 million U.S. dollars.
  Synthesia, an AI video platform that generates content in different languages, followed with almost 67 million dollars in funding.
  Third came Anyword, an AI copywriting software with around 30 million.

Artificial Intelligence in Customer Support – Statistics

AI is also revolutionizing the way a business interacts with its customers. Businesses are developing and deploying AI-powered chatbots to improve responsiveness and efficiency to offer better customer support.

• 35% of executives said virtual assistants for customer engagement are the top generative AI use case in sales and customer service.
• 38% of executives said customer experience and retention is the primary focus of their AI investments.
• 38% of companies are using or considering using NLP AI for customer care.
• 46% of IT leaders who said their organizations use generative AI beyond ChatGPT said they use it for customer service.
• 47% of organizations that already use AI said they use generative AI most for sales and customer service.
• 51% of those IT leaders say generative AI will substantially improve customer experiences in the next year.
• 83% of business executives said that chatbots for automating customer service and improving knowledge management are the most relevant application of generative AI to their business.
• 67% of executives said that generative AI can improve customer service through automated and personalized support.
• 89% of consumers who regularly use generative AI chatbots are satisfied with their experience.
• However, people still want to be able to reach a human when they need to 72% of U.S. adults are worried about being able to reach a human instead of interacting with AI. Only 5% are not at all worried about this.
• Access to a generative AI conversational assistant increases customer support agent productivity by an average of 14%. However, only 6% of organizations reported using generative AI for chatbots for customer service as of April 2023.

AI in Creativity and Content Generation- Statistics

With Generative AI, creating new and unique content has become quite easier. Checkout the stats below to understand its contribution.

• Since February 2022, web searches related to AI content have increased by 900%
• 86% of digital marketers believe content writers will lose jobs because of AI.
• Nearly a third of college students admit to using ChatGPT to complete written homework.
• AI MUsic –  SoundDraw had 2.3 million visitors in May followed by Boomy (948.5K), and Soundful (768.5K).
• 23% of traditional book authors from US are using AI to aid the writing process
• 85.1% of AI users, utilize the technology for crafting articles and generating content

Artificial Intelligence Uses Social Media – Statistics

The top social media platforms are also harnessing the power of Artificial Intelligence. Here is how Social Media Platforms are leveraging AI in their favor.

•  Facebook recommends about 15% of feed content from non-followed accounts based on artificial intelligence.
•  These AI recommendations have driven a 7% increase in overall time spent on the platform.
•  Meta’s Llama 2 open-source large language AI model was trained with 40% more data than Llama 1.
• Meta had 150,000 download requests for the model in the first week after Llama 2 was launched.
•  In the two months after it launched, Snap’s My AI chatbot received 10 billion messages from 150 million users.
• Pinterest’s AI-powered “Shop the look” product recommendations drove a 9% increase in conversions in their early tests.50% of U.S. adults are interested in learning more about how generative AI is used in social media.

Impact of AI on Jobs and Employment – Stats and Facts

 Businesses have started investing in AI solutions to automate mundane tasks, let employees focus on productivity, and save money. The impact of AI on jobs and employment is as follow.

• By 2030, 45 million Americans could lose their jobs to AI automation, representing about one-quarter of the workforce.
• 81.6% of digital marketers think content writers’ jobs are at risk because of AI.
• AI will add 15.7 trillion dollars to the world’s GDP by 2030, boosting it by 14%.
• By 2030, intelligent robots may replace 30% of the global workforce.
• 375 million people may need to change careers by 2030.
• A high risk of automation affects 38% of US jobs, 35% in Germany, 30% in the UK, and 21% in Japan.
• 52% of experts believe automation will displace jobs but also create new ones.
• 43% of businesses plan to reduce their workforce due to technological integration.
•  More than 120 million workers around the globe will need retraining and up-skilling in the next three years.

Recommended Read: Top AI Development Companies

Barriers for Companies to Adopt Artificial Intelligence

Companies face pervasive barriers when it comes to developing explainable and trustworthy AI. Here are the stats of the same.

• 63% Lack of skills and training to develop and manage trustworthy AI
• 60% AI governance and management tools that don’t work across all data environments
• 59% Lack of an AI strategy
•  57% AI outcomes that aren’t explainable
• 57% Lack of company guidelines for developing trustworthy, ethical AI
• 57% AI vendors who don’t include explainability features
• 56% Lack of regulatory guidance from governments or industry
•  56% Building models on data that has inherent bias (social, economic,and so on)

Artificial Intelligence in the USA – Regional Statistics

• The AI market is projected to reach US $87.18bn in 2023.
• By 2025, the global generative AI market is expected to surpass $$22 billion.
• The market size is expected to show an annual growth rate (CAGR 2023-2030) of 15.36%, resulting in a market volume of US $237.10bn by 2030. (Statista)

Conclusion

Artificial Intelligence continuously evolves, revolutionizes, and transforms business processes by automating repetitive tasks, enhancing productivity, and fixing complex challenges. Every sector is currently focused on harnessing the power of Artificial Intelligence for the welfare of society. However, leveraging AI demands careful consideration and ethical guidance. AI is a vigorous and emerging field; its complete potential will unfold in the upcoming years.