Cool Stats & Analytics About the A.I Industry

Updated Research Facts and Data about the growth of A.I tools and their applications as Chatbots, Image generators, and Industrial/Mechanical anchored robots

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AI-powered virtual assistants will reach $15 billion by 2024.

A report by Cognilytica estimates that the global market for AI-powered virtual assistants will reach $15 billion by 2024.

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ChatGPT-3 has a Whooping 175 billion parameters. ChatGPT-2 only had 1.5 billion parameters.

ChatGPT-3 is the newest and biggest version of the model, with a whopping 175 billion parameters! Can you believe that? It’s way bigger than the previous version, ChatGPT-2 which only had 1.5 billion parameters.

175

billion parameters

GPT3

IS A VERY POWERFUL A.I

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A.I in the Healthcare market is expected to reach $36.1 billion by 2025 – growing at a (CAGR) of 44.4%.

AI in the Healthcare market is expected to reach $36.1 billion by 2025, growing at a Compound annual growth rate (CAGR) of 44.4%. The AI in the automotive market is also expected to reach $9.61 billion by 2025, with a CAGR of 30.2%.

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$190.61 billion by 2025

A report by MarketsandMarkets predicts that the global AI market will grow from $21.46 billion in 2018 to a whopping $190.61 billion by 2025, with a CAGR of 36.62%.

$1394.30 billion in 2029

According to Fortune Business Insights, the global AI market size is projected to reach USD 1,394.30 billion in 2029, at a CAGR of 20.1% during the forecast period, 2022-2029

60% Increase in Revenue

The Boston Consulting Group estimates that AI has the potential to increase annual revenue of companies by up to 60% and reduce costs of companies by up to 40%.

800 Million Jobs To Be Displaced

The McKinsey Global Institute predicts that AI could potentially displace around 800 million jobs globally by 2030, while also creating around 375 million new jobs.

GDP Gain of 1.7% in Developing Countries

The World Bank reports that AI has the potential to increase GDP in developing countries by up to 1.7%.

Country-Specific Projections

In terms of country-specific impact, a report by PwC estimates that in the United States, AI could potentially increase GDP by up to 14% by 2030. A report by Accenture states that in China, AI has the potential to increase GDP by 26% by 2035. And in Europe, a report by Deloitte estimates that AI has the potential to increase GDP by up to 4.8% by 2020.

By 2024, the global AI market will grow to over half a trillion US dollars. Additionally, this study estimates that the global AI market will be worth more than $1.5 trillion by 2030.

Source:

(Statista)

379 A.I Research Data and Facts 2023:

A report by MarketsandMarkets predicts that the global AI market will grow from $21.46 billion in 2018 to a whopping $190.61 billion by 2025, with a CAGR of 36.62%.

PwC also estimates that AI could add $15.7 trillion to the global economy by 2030.

According to Fortune Business Insights, the global AI market size is projected to reach USD 1,394.30 billion in 2029, at a CAGR of 20.1% during the forecast period, 2022-2029.

AI-powered voice assistants to reach 8 billion by 2023.

In specific industries, the AI in Healthcare market is expected to reach $36.1 billion by 2025, growing at a CAGR of 44.4%. The AI in the automotive market is also expected to reach $9.61 billion by 2025, with a CAGR of 30.2%.

The global Artificial Intelligence market size was valued at $136.6 billion in 2022.

The global AI market is projected to reach $1,581.70 billion by 2030.

The AI market is projected to grow at CAGR of 38.0% from 2021 to 2030.

AI usage statistics show that in 2030, about 26.1% of China’s GDP will come from AI. The technology contribution to other global economies will be: North America at 14.5%, followed closely by the United Arab Emirates at 13.5%. (Source: Statista).

Global GDP will grow by $15.7 trillion by 2030 thanks to AI.

By 2024, the global AI market will grow to over half a trillion US dollars. Additionally, this study estimates that the global AI market will be worth more than $1.5 trillion by 2030. (Source: Statista).

The number of AI startups grew 14 times over the last two decades.

Investment in AI startups grew 6 times since 2000.

Already 77% of the devices we use feature one form of AI or another.

75% of companies plan to use AI systems to eliminate fraud. (Source: Aiiot)

With machine learning, Amazon reduced its “click to ship” time to 15 minutes, a 225% decrease. (Source: McKinsey)

In 2022, the worldwide artificial intelligence market size reached $136.6 billion. (Source: Grand View Research).

It is projected that the global market for AI will experience a compound annual growth rate of 38.1%, reaching a value of $1,811.8 billion by the year 2030. This is an increase from the current market size of $136.6 billion in 2022. (Source: Grand View Research).

According to AI usage statistics, by 2030, Artificial Intelligence is projected to account for 26.1% of China’s Gross Domestic Product. Other regions are also expected to see significant contributions from AI, with North America projected to reach 14.5% and the United Arab Emirates at 13.5%. (Source: Statista)

According to a recent survey of executives, a majority (72%) believe that the integration of advanced technology will play a major role in driving future business success. Predictions indicate that this technology will enhance labor productivity and streamline business operations (67%), automate communication processes (70%), and enhance data analysis capabilities (59%). (Source: PwC)

According to a recent survey, a significant portion of business leaders, approximately 27%, have reported that their company plans to invest in AI-based cybersecurity measures. It is important to note that as the usage of AI systems within an organization increases, so does the ability to defend against cyber attacks. Some companies have already begun utilizing AI-powered, cloud-based threat detection systems. It is crucial to keep in mind that as cyber threats continue to evolve, it may be necessary to implement such measures in order to ensure the security of the organization. (Source: PwC)

Approximately 40 percent of digital transformation projects, as well as all initiatives utilizing the internet of things, will be assisted by AI technology. (Source: Digite)

It is predicted that by 2030, automation could potentially free-up 10% of nursing tasks.

AI in the retail market space is forecasted to reach a value of $31.18 billion by 2028. This follows a growth trajectory that began in 2021, when the market was valued at $4.84 billion and is expected to see a compound annual growth rate of 30.5% over the next seven years. (Source: Fortune Business Insights)

87% of companies who have adopted AI technology stated that they were either currently utilizing it or considering utilizing it for forecasting sales and enhancing their email marketing strategies. Statista conducted an online survey of 1,028 respondents in 2017 and found that 61% of them were planning to use AI for sales forecasting. (Source: Statista)

Some experts are saying that by 2030, intelligent robots could replace up to 30% of the human workforce worldwide. (Source: McKinsey&Company)

In 2017, Netflix saved $1 billion by using machine learning. (Source: Forbes)

Additionally, Deloitte estimates that AI has the potential to increase labor productivity by up to 40% and increase profitability of companies by an average of 38%.

In terms of job displacement and creation, the McKinsey Global Institute predicts that AI could potentially displace around 800 million jobs globally by 2030, while also creating around 375 million new jobs.

The World Economic Forum also estimated that by 2022, AI would have created 58 million new jobs and displaced 75 million jobs globally.

Overall, it seems like AI is set to have a huge impact on the global economy and various industries in the coming years.

Another interesting point is that the AI in retail market is expected to reach $7.3 billion by 2022, growing at a CAGR of 42.8%.

The AI in the banking and financial services market is also expected to reach $7.3 billion by 2022, growing at a CAGR of 42.8%.

The World Intellectual Property Organization also reported that China filed the most AI patent applications in 2018, followed by the US and Japan.

AI-related patent applications have grown at a CAGR of 17.2% between 2013 and 2018.

In the US, AI-related job postings have grown by 74% between 2015 and 2018, and a report by PwC estimates that by 2022, AI could potentially create around 2.3 million jobs in the US.

The International Data Corporation (IDC) estimates that global spending on cognitive and AI systems will reach $77.6 billion in 2022, growing at a CAGR of 26.1% during the forecast period.

The World Bank also reports that AI has the potential to increase GDP in developing countries by up to 1.7%.

The Boston Consulting Group estimates that AI has the potential to increase annual revenue of companies by up to 60% and reduce costs of companies by up to 40%.

The World Economic Forum also predicts that AI has the potential to increase global trade by up to 15%. And this is just the tip of the iceberg when it comes to the potential of AI in various industries and the global economy.

Another area where AI is expected to have a significant impact is the field of virtual assistants. A report by Cognilytica estimates that the global market for AI-powered virtual assistants will reach $15 billion by 2024.

Another report by Gartner predicts that by 2020, AI will be a top-five investment priority for more than 30% of CIOs. This highlights the growing importance of AI in various industries and the significant investments being made in the technology.

In terms of country-specific impact, a report by PwC estimates that in the US, AI could potentially increase GDP by up to 14% by 2030. A report by Accenture states that in China, AI has the potential to increase GDP by 26% by 2035. And in Europe, a report by Deloitte estimates that AI has the potential to increase GDP by up to 4.8% by 2020.

All in all, it’s clear that AI is going to play a major role in shaping the future of many industries and the global economy. The potential for growth and impact is immense, and it will be interesting to see how these predictions play out in the coming years.

Another important aspect to consider is the impact of AI on the workforce. While some reports predict that AI will displace jobs, it is also expected to create new opportunities and roles. For example, a report by Accenture estimates that AI will create around 2.3 million jobs in the US by 2022. Additionally, the McKinsey Global Institute predicts that AI will create around 375 million new jobs globally by 2030.

However, it’s also important to consider the potential skills gap that may arise as a result of the increasing use of AI. It’s likely that many existing roles will evolve or require new skills to work alongside AI systems. It’s important for individuals, organizations and governments to consider the implications and take steps to upskill the workforce.

Additionally, there are also concerns about the ethical implications of AI and the need for responsible AI practices. This includes issues such as data privacy, bias, and transparency in decision-making. It’s important for organizations and governments to consider these issues and take steps to ensure that AI is developed and used responsibly.

Overall, it’s clear that AI has the potential to bring about significant economic and societal changes. While it’s important to be aware of the potential challenges and ethical implications, it’s also important to recognize the opportunities and benefits that AI can bring.

Cool Facts About ChatGPT:

You know ChatGPT is a language model, right? Well, it’s built on something called the Transformer architecture. It’s pretty new, only came out in 2017 by some Google researchers.
One of the cool things about ChatGPT is it’s been fine-tuned on a ton of conversational text. That’s why it can come up with responses that sound like a real person.
ChatGPT-3 is the newest and biggest version of the model, with a whopping 175 billion parameters! Can you believe that? It’s way bigger than the previous version, ChatGPT-2 which only had 1.5 billion parameters.
Did you know ChatGPT can do more than just chat? It can summarize text, translate, and even complete sentences with just a little bit of fine-tuning.
OpenAI created a tool called “GPT-3 Sandbox” that lets developers play around with ChatGPT and customize it for different tasks. Pretty neat, huh?
Now, here’s something a bit more serious. AI models like ChatGPT can sometimes make mistakes or come up with biased results because of the data they were trained on.
And it’s important to remember that the quality and quantity of data makes a big difference in how well these models perform.
Another area of research is making AI models like ChatGPT more explainable and transparent, so people can understand how the model arrived at its decisions.

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