Have you ever wondered how often is AI used and how swiftly it’s broadening its horizons? The current valuation of the AI industry stands at roughly 200 billion US dollars. Besides, it is predicted to expand twenty times by 2030, nearing almost 2 trillion US dollars.
As a testament to AI’s tremendous impact, here is a compilation of a comprehensive collection of facts demonstrating this revolutionary technology’s widespread use and influence.
The artificial intelligence statistics given will paint a coherent image of the reach and importance of AI in our current world, underscoring its omnipresence and critical influence on altering social dynamics. Prepare to be astounded by the incredible insights into the ever-changing AI landscape.
Top AI statistics
Some of the artificial intelligence statistics for 2023 are given below to give you a better understanding of the potential of artificial intelligence:
- In the global market, the net worth of AI is valued at $120 billion.
- Each year the artificial intelligence market grows by 20% or more.
- The AI industry is speculated to create more than 85 million jobs by 2025.
- The expected net worth of the AI market by 2030 is around $1597.1 billion, with a registered CAGR of 38.1% from 2022 to 2030.
- Nearly 48% of businesses use AI for handling and utilizing big data.
- In less than two months, ChatGPT reached 100 million users (faster than any other software).
- 35% of businesses are using artificial intelligence in their daily operations.
- Almost 75% of top executives believe artificial intelligence can improve and strengthen their business models.
- By 2025 around 97 million people are expected to work in the AI industry.
- 80% of marketers already use chatbots as a part of their customer experience strategy.
- AI has been considered valuable for marketing strategy by around 64% of B2B marketers.
- The artificial intelligence industry grew by 47% from 2021 to 2022.
Interesting AI Statistics for 2023
Artificial Intelligence (AI) is one of the most powerful industries in the world today, full of potential and hope. Hence, some of the most interesting artificial intelligence statistics 2023 are given below:
1. Artificial Intelligence Growth
The involvement of digital technologies in businesses at an increasing rate is the prime growth factor of Artificial Intelligence. Various companies in the tech world are fueling their research and development departments aggressively to gain a competitive advantage over others, leading to the rise of AI. Hence it is not a surprise to see how often is AI used. Furthermore, the Artificial Intelligence market is gaining popularity because of this optimum efficiency in numerous fields of work.
- The current value of the AI market is $100 billion and is speculated to grow 20 times more by 2030.
2. AI in Business
Artificial Intelligence and business have recently proven to be effective and efficient. Because AI simply makes enhanced use of computer software as per the capabilities of a human. The use of Artificial Intelligence statistics in various areas like business transformation, customer experience, productivity, etc., has proven profitable. Moreover, the complexity of the business is rapidly increasing to be solely handled by humans. Therefore, a better and more efficient approach is required (just like the time computers were needed for a faster and better approach).
- In 2021, $2.9 trillion of business value was expected solely from using artificial intelligence.
3. AI in Customer Services
The introduction of Artificial Intelligence has positively impacted the effectiveness of businesses across various companies, especially in customer services. AI-driven customer services have proven to be of better use as they develop detailed insights and provide an exceptional and uniform user experience. This further impacts the businesses in ways like better retention rates, preventive help, brand image, etc.
- Artificial Intelligence is expected to boost the productivity of businesses by 35% by 2035.
4. AI Statistics in Sales
The use of artificial intelligence statistics in sales has drastically optimized and simplified the selling process. Today there are various software tools equipped with several trainable algorithms for making sales calculations more effective and efficient. These tools are devised to perform specific commands and functions.
- In 2018, 21% of sales teams used AI to boost their sales processes.
5. Cost Benefits in Business to Adopting AI
It is a prevalent saying that “humans make mistakes, but machines don’t.” Similarly, adopting AI for daily business operations has eliminated the risk of mistakes in reiterative tasks. This has also resulted in better allocation of human resources and a more productive approach towards organizational goals.
- According to a recent survey, AI can reduce businesses’ operational costs by up to 30%.
6. Increased IT output
Since adopting AI in businesses, it has been used to fasten each department’s computing and calculation process. AI is a programmed software that delivers the desired output with minimal inputs. Hence, the IT output of each department of businesses it is being used in has been flourishing.
- The productivity of an average employee has been boosted by 14% with the help of AI.
7. AI in Marketing
If you’re wondering how often is AI used in marketing? Apart from uses like AI marketing statistics, it is majorly used in digital marketing. Furthermore, AI uses data and customer profiles to evaluate the best way to communicate with them. Hence, it results in increased effectiveness and a more progressive approach to lure customers.
- The market for Artificial Intelligence (AI) was estimated at $15.84 billion.
8. AI in the retail industry
Artificial Intelligence (AI) has encouraged self-checkout methods, being installed in various retail stores. AI has proven to be more effective in scanning and offering a secure payment method, eliminating the risk of shoplifting. This has further resulted in decreased operational costs and increased productivity in the retail industry. Moreover, AI will also keep a list of suspicious shoplifters. In the retail sector, AI is also used in various ways, like inventory management, customer engagement, visual curation, etc.
- The global market size of AI in retail was $5.79 billion in 2021.
9. AI in Jobs And Employment marketing
Artificial Intelligence (AI) is changing the face of the job market; today, it is being used in various ways to boost employment and ensure the optimum use of human resources. Some ways AI is being used are for automation of recruitment processes, candidate matching as per job requirements and resumes, employee retention, etc. This is letting the companies target and allocate their resources more effectively, overall resulting positively in ROI.
- Although Artificial Intelligence (AI) eliminated 1.8 million jobs globally but created 2.3 million new employment opportunities.
Artificial Intelligence (AI) can be considered one of the most profitable innovations of this century, as it will benefit in many folds in the upcoming time.
What AI Will Bring To the Future?
In nearly every industry Artificial Intelligence (AI) is evolving the future of humankind. Today, it has emerged as a primary driver of technologies like IoT, robotics, big data, etc. Seeing the potential of AI, around 44% of companies are considering significant investments in this field. So to know more about the future of AI, some of the industries that are likely to evolve are given below:
1. Health Care Industries
Artificial Intelligence can immensely impact the healthcare industry. From time to time, healthcare has been seen as understaffed, overloaded, and challenged due to slow outputs. But with the help of AI, it can be used for diagnosis, prescriptions, research, etc., resulting in better allocation of human resources and more effective healthcare.
2. AI in Education Sector
However, the fear of replacing teachers with AI will always be there. Utilizing AI for various other educational processes, like devising papers, checking answer sheets, etc., would lead to a better and more efficient educational sector. It is also speculated that the AI education market can be a $20 billion industry by 2027.
3. AI in Finance
By leveraging Artificial Intelligence (AI) knowledge and finesse, the finance sector can evolve into a more efficient, accurate, and successful industry. It is not very difficult to see the usage of AI for financial decision-making and calculation in the near future. Even financial institutions like banks can use AI to deliver uniform and accurate financial advice, proactive fraud detection, short support wait time, and targeted product recommendations.
4. AI in the Military
Artificial Intelligence (AI) can be used in the military for various purposes like inventory management, logistics, man force track record, effectiveness calculation of troops, etc. And especially in logistics, it a more proactive as it can make administration easier. The military AI market is expected to be around $11.6 billion by 2025.
You can already see various cars and cab services devised to be driverless, and shortly, the same could be seen on a larger scale. These driverless cars will deliver the output required at a more effective speed and with minimal hassle. Moreover, with adequate AI, vehicles might avoid congestion as well. In 2023, the AI transportation market is expected to reach $3.5 billion.
With Artificial Intelligence (AI) aggressively being used in marketing, one can predict its potential in the advertising field. By leveraging AI, companies can create more engaging advertisement platforms. A study also predicted by 2024, almost 30% of total content produced by companies would be AI-generated.
These are some of the many industries that are likely to be impacted by AI in the future. But looking at the potential of AI, it might create various new fields of employment.
Stay Ahead Of The Curve: Harness The Power Of AI
The potential for AI market growth and profitability in the coming years is abundantly clear from these artificial intelligence statistics. The permanence of AI is evident, and its effect on our culture is only going to broaden further.
The significance of AI is becoming increasingly clear to companies now implementing it into their operations to achieve a competitive edge.
Join forces with Parangat Technologies and revolutionize the way you operate. With the latest AI solutions tailored to fit your unique needs and budget, Parangat can help you enhance your market reach and maximize your returns. From Machine Learning to Natural Language Processing, Robotics to Knowledge Virtualization, the team of AI experts at Parangat has got you covered. Contact them today to explore more about how they can aid you in elevating your business to the next level.
With roll up sleeves, dive in and get the job done approach, it was in the year 2010 when Sahil started Parangat Technologies. Emphasizing a healthy work culture and technology-driven company, he has successfully created a workplace where people love to work and live. He is a software engineer and a passionate blockchain enthusiast.