From big corporations and startups to governments, artificial intelligence is transforming industries. In fact, it’s one of the faster-growing technologies used globally. AI already powers a lot of our daily activities, most notably, the devices we carry in our pocket all the time — our phones. Despite the fears fueled by many Sci-Fi movies where AI takes over the world, artificial intelligence statistics show this tech has improved our lives. Read on to learn more about it and how you can also leverage its power for your business goals.
Artificial Intelligence Statistics (Editor’s Choice)
- In 2020, the global AI market value was $35.92 billion.
- Around 54% of executives claim AI has increased the productivity of their businesses.
- Lack of skilled staff is one of the top three challenges for AI adoption.
- Over nine in 10 top companies have an ongoing investment in AI.
- By 2025, approximately 85 million jobs might be lost due to AI.
- Approximately 62% of customers are open to AI to improve their experience.
- By the end of 2021, AI might be powering up to 15% of customer service interactions globally.
- The AI growth is expected to generate $2.9 trillion of business value.
Statistics on Artificial Intelligence
1. In 2020, the global artificial intelligence market’s value was $35.92 billion.
While the pandemic has negatively impacted most industries, AI growth remained steady in 2020 at 31.9%. Estimations for 2021 place the value of the market at around $47.47 billion, and $360.36 billion in 2028, with a CAGR of 33.6% between 2021 and 2028.
(Fortune Business Insights)
2. Around 54% of executives claim AI has increased the productivity of their businesses.
Many facts about AI demonstrate the technology’s positive impact on business operations, but none as loudly as the confirmation by executives. The surveyed leaders claim AI helped their organizations boost productivity, and the majority used the technology to automate complex processes. The use of AI helps identify trends in historical data, later applied to enhance decision-making.
3. AI helped reduce costs for more than 40% of companies.
AI adoption not only boosts productivity but also lowers costs, statistics on artificial intelligence show. The execs of as many as 44% of companies that have adopted the technology report that AI reduced costs in the business areas where it was used.
4. For 78% of respondents from all countries, trust is a core value for AI development.
Globally, respondents think it’s crucial to trust AI’s input. It has to be safe, fair, and reliable. For 83% of respondents, explaining how AI arrived at a decision is vital.
5. Global annual AI investment rose by $55 billion between 2015 and 2020.
Artificial intelligence statistics show that these were mostly private investments from US companies. For the time being, AI startups that received the most fundings are Indigo AG, Nuro, and UiPath. The last one, which deals with robotic process automation, is the second most valuable AI startup globally, at $35 billion, behind China’s ByteDance (valued at $140 billion).
6. The AI chip market is estimated to reach $91.18 million by 2025.
Artificial intelligence chips are silicon chips with a special purpose, including AI tech, used by machine learning companies. Artificial intelligence statistics show that this market was valued at a mere $6.63 million as recently as 2018. It now has a projected CAGR of 45.2%, between 2019 and 2025. One of the largest contributors to the global share, North America accounted for $2.43 million in 2018 and is estimated to reach $28.25 million by 2025.
(Allied Market Research)
7. Some 47% of digitally mature organizations have an artificial intelligence strategy in place.
Nearly half of the organizations that have reached a certain stage of digitalization, or have advanced practices in this area, have established an AI strategy, statistics on artificial intelligence show. Out of those with an innovative strategy, 61% claim they are using AI to identify data opportunities, they might have missed otherwise. Just 22% of those that don’t have this type of strategy could say the same.
8. 61% of companies have pointed to machine learning and AI as their most significant data initiative planned for next year.
Then, 88% of respondents said their organizations have some form of ML&AI tech implemented, according to machine learning statistics. 95% of those planning to implement such initiatives meanwhile believe they will complement their job or make it easier, AI stats show.
9. Nearly 85% of executives think that AI will give their organizations a competitive advantage.
Most execs feel like AI can help their businesses by improving their operations. Yet, only one in five companies in the same survey has included AI in its offerings and processing. Moreover, only one in 20 has done so extensively.
10. Lack of skilled staff is one of the top challenges to AI adoption.
Many companies struggle with the adoption of machine learning and artificial intelligence. Enterprise maturity and the related lack of skills (56%), fear of the unknown (42%), and finding a starting point (26%) are the main three obstacles for the technology’s adoption, artificial intelligence growth statistics indicate.
11. About 48% of data analysts confirmed they use machine learning, data analysis, and AI tools to mitigate data quality issues.
One business application of artificial intelligence is addressing missing or poor quality data. Organizations with established data quality teams naturally take advantage of these tools more often and at a higher rate compared to organizations without a dedicated team.
12. In Q2 2021, AI startups received more than $20 billion in funding, AI statistics show.
Despite the drop in volume of investments in AI startups, Q2 2021 was a financially excellent month. With 95% of organizations across the world considering AI vital to their digital transformation, companies were expected to invest $50 billion in AI in 2020. By 2024, these investments are set to reach over $110 billion.
AI Adoptions Statistics
13. In just four years, the growth of companies using AI was 270%.
In 2015, only 10% of companies claimed they used AI, or plan to do so in the future. However, coming to 2019, this number rose to 37%, representing a spectacular 270% growth of artificial intelligence users. Further, it means that over one in three organizations in 2019 used, or planned to use AI.
14. Over nine in 10 top companies have an ongoing investment in AI.
According to AI statistics, the growing use of the technology is more common among company leaders globally (91.5%). Healthcare and financial services are leading the way.
15. Only 14.6% of the top companies use AI technology extensively.
Despite the large number of top companies using AI, those that do so in widespread production are not as many. Yet, the number of businesses citing artificial intelligence as the most disruptive tech went down from 80% in 2018 to 69.5% in 2020.
16. For roughly 37% of respondents in a survey, limited AI expertise is the main reason why they have not yet adopted the technology.
Despite being familiar with many facts about artificial intelligence, many companies don’t possess the skills for it and as a result, are shying away from adoption. Just under a third of respondents (31%) see the complexity of data and siloed data as a major roadblock. Finally, the lack of tools for developing AI models keeps others behind (26%).
17. By 2022, many organizations expect to have 35 ongoing AI and ML projects on average.
In 2019, the average number of such projects was four. Most companies, however, said that they were planning to add six more in the next 12 months and another 15 in the next three years, AI statistics show.
18. Roughly 51% of ecommerce companies implemented automation tech across marketing, sales, and customer service teams.
Ecommerce has multiple benefits from the implementation of AI solutions to automate their business. Over half of the ecommerce players implemented these technologies to provide a seamless customer experience. Based on data, eCommerce in the B2B segment will benefit more and more from AI expansion.
AI Replacing Jobs Statistics
19. AI was expected to generate 2.3 million jobs while eliminating 1.8 million by 2020.
Naturally, the number of positions impacted by AI will vary by industry. Stats point to growing job demand in healthcare, the public sector, and education, while manufacturing is likely to bear the brunt of job losses. AI-related job creation is further slated to hit two million net-new jobs in 2025.
20. By 2025, approximately 85 million jobs might be displaced due to AI.
Another labor market research indicates that AI might result in the loss of 85 million jobs. On the flip side, 97 million new positions might emerge. AI career stats indicate that such new positions will be robotics engineers, software and application developers, machine learning and AI specialists, data analysts, and digital transformation specialists.
21. The rising number of robots could make 20 million manufacturing jobs disappear by 2030.
The number of robots globally has increased three times to over 2.25 million in the last 20 years. It is set to accelerate further, reaching 20 million by 2030, with China accounting for 14 million.
22. Around 34% of workers expect to become redundant in the next three years.
61% of workers think their companies are preparing them for this future and artificial intelligence statistics show that 55% have faith in their organizations to reskill them. 78% see themselves as ready for learning these new skills. 38%, however, think they don’t have enough time for training, while business execs are certain that only 45% of their current workforce is adaptable.
23. LinkedIn stats show there are around 11,400 data scientists employed globally.
Given that data scientist is a relatively new position, and many people perform related tasks under a different title, this is a fairly conservative estimate. This particular statistic includes only those who have listed it explicitly as their job on LinkedIn.
The Future of AI Statistics
24. Approximately 62% of customers are open to AI in terms of improving their experience.
59% meanwhile believe that artificial intelligence will revolutionize their interactions with companies. Over half (54%) trust companies to use AI in a way that benefits the customer, while 52% believe it will play a role in their life as significant as that of the smartphone.
25. By the end of 2021, AI might power up to 15% of customer service interactions globally.
Customer services have a great use for AI which is why a lot of businesses bet on software or AI companies to enhance their interactions with clients. Currently, one in four organizations uses AI chatbots to improve their customer services. Based on the AI stats on how many organizations might use them by the end of 2021, we come to a stunning 400% increase compared to 2017.
26. By 2024, the number of AI-powered digital voice assistants is set to reach 8.4 billion units.
Virtual voice assistants are becoming a must-have feature for electronic devices. They can answer commands and provide information or even perform certain activities for us on connected electronics. In 2020, there were 4.2 billion digital voice assistants in use worldwide.
27. By 2030, China is projected to have seen the biggest economic gain from AI.
AI statistics show that by 2030, around 45% of total economic gains from AI will originate in product improvements, and stimulating demand. All of this would be possible due to the increased personalization AI will offer, and affordability over time. China will benefit the most based on predictions, with 26% of its GDP expected to come from AI at the time. Similarly, North America will also prosper from AI (with a 14.5% boost).
28. The growth of artificial intelligence is set to generate $2.9 trillion of business value.
AI applications will drive a significant improvement of business value and worker capabilities. The technology is also set to generate 6.2 billion hours of worker productivity. The most common use cases that are behind these improvements are chatbots, image recognition, deep learning, and predictive analytics.
29. Approximately 16% of the European countries believe that AI-powered automation could help diminish COVID-19 impact.
One of the interesting facts about artificial intelligence is that it helps countries worldwide mitigate the effects of COVID-19. First, in 2020, hospitals used chatbots to provide automated remote consultations to isolated patients. Next, it helped develop a mathematical model studying the transmission rate of the disease. Moreover, governments globally are using AI to facilitate social distance measures.
Hopefully, these artificial intelligence statistics will help you grasp the idea behind the transformative power of this tech. As you can see, businesses are adopting AI and focusing on data-driven paths to outperform the competition. Considering all the benefits of AI, every company needs to readjust its goals and focus on hiring new talent skilled in this field to boost its productivity and cut costs.