Artificial Intelligence growth brings with it challenges in the use of ethics and privacy concerns. To grok AI’s impact on our world, understanding these industry statistics is a must. Let’s take a look now, at some of the most interesting and important AI statistics.
The AI market is still quite exciting. Within the next five years, the worldwide AI market will be north of $1 trillion and how businesses adapt to technology will shift. In addition to producing $15.7 trillion in the global economy by 2030, AI is forecast to disrupt massive industries, including manufacturing, healthcare, and many others.
As AI technologies are more widely applied, business operations are relying more and more on the necessity of AI technologies. Organizations have been incorporating AI to make things faster, and only AI powered software has an annual turnover of more than $50 billion.
AI is not merely a technological phenomenon but has redefined the workplace and, therefore, the workforce. Approximately 96% of the companies have mentioned that candidates with AI skills are very sought after in the market, meaning that having AI literacy is a plus in the current market. This demand for AI-skilled professionals is expected to rise as research anticipates that 13.4 million new AI-related jobs will be produced worldwide by the decade's end.
Marketing is among the many sectors where the integration of AI has greatly impacted. 60% of marketers agreed that AI will transform marketing across customer relations and content generation. This technology enhances customer service, with 70% of consumers expecting chatbot responses within five minutes.
Even more revealing is the shift towards using chatbots for basic functions—80% of consumers want to use them for purposes such as setting appointments or checking account balances. In comparison, 38% of consumers globally now prefer to use AI-based chatbots for customer support, increasing AI adoption rates.
AI's role in healthcare is rapidly expanding, with applications in diagnostics and treatment recommendations. The AI healthcare market grew by 41.2% from 2018 to 2023, enhancing diagnostic accuracy and accelerating drug discovery, ultimately saving lives and reducing healthcare costs. These trends are set to continue, with AI expected to contribute billions to healthcare savings in the coming years.
While the growth of AI is undeniable, ethical concerns must be addressed. 85% of U.S. adults believe AI should be safe and ethical. While technology advances rapidly, public perception of its safety and reliability is crucial in its acceptance and integration into society. A recent survey revealed that only 39% of individuals believe that current AI technology is secure.
AI is a powerful tool that reshapes industries, creating new job opportunities and streamlining business operations. As its influence expands, the AI market is expected to grow exponentially with AI growth insights, contributing trillions to the global economy. The growth of AI presents challenges, especially regarding ethical use and privacy concerns. Understanding these industry stats is crucial for grasping AI's impact on our world.