The invention of Artificial Intelligence has changed the revolution to all the business industries, how humans use technology, and the business process. Whether it is video editing or healthcare, the impact is huge and vast. This article outlines some amazing statistics that provide evidence of the transformational power of AI in prominent sectors.
The video creation space has changed drastically due to AI. According to a survey conducted by Kapwing, close to 79% of video creators were optimistic about the role AI was playing in making videos. This optimism did not just come by boosting productivity through AI but equally through creativity, it brings by lessening the load of mundane tasks. Besides, 76% claim that AI will increase the creativity of video producers, which is a sentiment by itself that shows that AI has great potential to enthuse innovation.
The AI video generator market size is estimated to be about $472.92 million in 2022 and is forecasted to reach around $2,867.76 million by 2032, growing at a significant CAGR of 19.75% during 2023-2032. This amazing growth may be attributed to the exponential growth of demand for video content from multiple industries such as media, entertainment, advertising, and e-commerce.
AI video generators are at the forefront of innovations, automating video production entirely. Further, advanced technologies have been put through video generators, and now they can be more innovative in making qualitative videos. The segment text-to-video itself dominated a revenue share of 39.24% in 2022.
Of the many available AI video generators, Wondershare Virbo is among the most amazing. It's an AI Avatar Generator free that turns inputted text into stunning videos suitable for any occasion—from product introductions to educational content. With over 460+ voices and languages, Virbo makes it easy to create professional spokesperson videos in minutes, making it the favored software for all content creators worldwide.
Artificial intelligence will lead the future of the automotive sector. The size of the AI in the Automotive Market crossed USD 6 billion in 2022, with expectations to witness over 55% CAGR during 2023-2032 on account of rising adoption of autonomous vehicles and demand for ADAS. The presence of AI in the functioning of vehicles would mean an enhanced experience that would not remain limited to the possible use cases of the vehicles but will have huge potential en masse to revolutionize the supply chain and the manufacturing process.
The most significant role AI can play is in healthcare, where it could save lives and even make operations easier. The AI in healthcare market is projected to grow to $187.95 billion by 2030. The cost of AI applications in healthcare spans from predictive analytics in patient care to AI-driven drug discovery, which could reduce costs by up to 70%. AI in healthcare gives way to more accurate diagnoses, personalized treatment plans, and better patient outcomes.
The entertainment industry is no exception in this disruption by AI. The global AI market size for media and entertainment has hit $10.87 billion in 2021. It covers almost everything: AI is making the experience of a viewer not only rich but a personal content journey that is going to be helped by creators. It is impacting the content game from scriptwriting to special effects, and its tools will become quintessential applications in designing and devising new ways of storytelling and production.
AI is way more than an advance in a series of technological advances; it represents a redefinition of the baseline of what is possible within a broad sweep of industries. Statistics in video editing, the automobile industry, health, and the entertainment industry clearly spells it out that Wall-E is here to stay and will have quite a say in the future. As we go forward and see this integration upclose, one thing is definite: the future is here, and it is Artificially Intelligent.