AI has enormous potential to contribute to the booming global economy. The global AI market was valued at $136.55 billion in 2022 and is expected to grow exponentially in the coming years at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030 (source). By 2030, it is expected to reach USD 1,811.8 billion.
Key factors driving the growth of the artificial intelligence market include a rise in the adoption of big data analytics and the increasing potential of R&D in developing AI systems and technological innovations across the globe.
Below is a list of 14 AI statistics & facts for 2024 that I found the most important and thought-provoking. Among them, you will find artificial intelligence growth statistics, figures on AI chips, regulations, and the adoption of artificial intelligence in various industry sectors. You will also learn statistics about “superstars,” i.e., ChatGPT and OpenAI, and how healthcare uses artificial intelligence technology.
Artificial intelligence statistics by value-gaining direction. Image source: PwC
Artificial Intelligence Statistics & Facts for 2024 in Social Discussion
LinkedIn’s November 2023 report, “The Future of Work: AI at Work,” revealed a 70% global increase in AI discussions from December 2022 to September 2023 (source). AI job views and searches in seven economies increased by 12%, with global artificial intelligence of job applications rising by 11%.
In the US, job and AI application views increased by 21% and 19%, respectively. The report noted that 17 out of 1,000 LinkedIn users work with AI, representing a 21-fold increase in ChatGPT-related job postings since November 2022.
Moreover, the number of companies hiring a chief artificial intelligence officer has tripled over the past five years, showing a 13% increase as of December 2022, with solid demand in the finance, professional services, and manufacturing sectors.
OpenAI in the Top 10 Profitable US Companies
OpenAI is one of the world’s most advanced artificial intelligence research companies. The company’s revenue has grown steadily, from $13.81 million in 2016 to $1.3 billion in 2023 (source). Since its beginnings in 2015 as an open-source research lab, OpenAI has grown into one of the US’s most valued publicly traded companies.
In May 2023, OpenAI was valued at $30 billion and had secured investments worth over USD 12 billion. This makes it the ninth most valuable company in the United States. This happened four months after Microsoft invested $10 billion in the company. Stock analysts say OpenAI’s valuation will exceed $80 billion by 2023.
China and the USA Benefit the Most
AI is expected to contribute $15.7 trillion to the global economy by 2030. That’s more than the current production of China and India combined. According to experts, AI will benefit the Chinese economy most, boosting GDP by 26% by 2030 (source). The next beneficiary is the United States, whose GDP is expected to increase by 14% at the same time (source), thanks to the development of AI.
Artificial intelligence statistics by biggest beneficiaries. Image source: PwC
By mid-2023, the Office of the Secretary of State had registered almost 15,000 AI-related startups in the US. Globally, there were over 60,000 of these businesses, with 1 in 4 registered in the USA. China has the most significant rate of AI implementation worldwide (58%), with India coming in second (57%) (source).
North America and China will continue to see the highest GDP benefits from AI productivity, but their paths will differ. While North America will likely gain the most AI benefits earlier, China may adopt AI technology more slowly yet experience a substantial GDP impact by 2030 (source).
ChatGPT is Application 2023 Champion
In the realm of artificial intelligence statistics & facts for 2024, ChatGPT stands out as a remarkable success story. When OpenAI launched on November 30, 2022, it quickly attracted a million users in just five days, a feat that took Instagram about 2.5 months to accomplish. By January 2023, ChatGPT had already amassed 100 million active users, earning it the title of the fastest-growing app.
As of December 2023, this figure had soared to 180 million active users. The application’s ability to draw traffic is equally noteworthy, with about 79.4% of visits to ChatGPT coming directly and organic searches accounting for 15.66% of its traffic. These statistics underscore ChatGPT’s significant impact and rapid adoption rate in the AI facts for 2024.
AI Statistics & Facts for 2024 Per industry
Grand View Research reports that the global artificial intelligence market, valued at $136.6 billion in 2022, is poised to hit $196.6 billion in 2023. Marketing, BFSI (banking, financial services, and insurance), and healthcare sectors dominate the market share. The report anticipates wider AI adoption across various global economic sectors.
In 2023, the advertising and media segment led the market, capturing over 19.5% of global AI revenue. This leadership stems from the dynamic growth of marketing applications in AI, which saw significant interest in 2023.
By 2030, the healthcare sector will lead in AI market share. Key AI applications driving this growth include robot-assisted surgery, reducing drug dosing errors, virtual nursing assistants, identifying clinical trial participants, managing hospital workflows, pre-diagnosis, and automated image diagnostics.
AI Facts in Healthcare
Regarding AI in healthcare, this technology plays a crucial role in automating tasks, streamlining workflows, and introducing innovative services and products. Gartner data shows that nearly 38% of healthcare providers currently use computer-based systems for diagnostics.
The healthcare market based on artificial intelligence, valued at USD 22.45 billion in 2023, is predicted to grow at a CAGR of 36.4% in 2024 – 2030.
Another noticeable trend is the development of medical robots. Precedence Research predicts that the medical robot market will grow at a 17.4% CAGR from 2022 to 2032, reaching a market value of $40 billion by 2032 (source).
In a recent Morgan Stanley Research survey, 94% of healthcare companies used AI/ML to some extent. Meanwhile, the estimated industry budget for these technologies is expected to increase from 5.7% in 2022 to 10.5% in 2024 (source).
AI Statistics & Facts for 2024 for NLP
In the artificial intelligence statistics & facts for 2024, the Natural Language Processing (NLP) market stands out with its rapid growth and expanding influence. The NLP market is projected to reach a significant size of US$23.68 billion in 2023 (source). This upward trend is expected to continue robustly, with a Compound Annual Growth Rate (CAGR) of 15.10% from 2023 to 2030, eventually reaching a market volume of US$63.37 billion by the decade’s end.
The United States is leading this expansion globally, with an anticipated market size of US$8.775 billion in 2023. This impressive growth in the NLP market reflects its increasing integration into the retail and healthcare sectors, where companies leverage NLP technologies for a competitive advantage.
Furthermore, NLP skills are becoming highly sought-after in the job market, demonstrating their widespread application across various industries and enhancing the value and versatility of professionals in a rapidly evolving global workforce.
AI Facts in Automation
The authors of the above-mentioned PwC report emphasize that it is expected that over 55% of all GDP gains resulting from artificial intelligence in 2017–2030 will be primarily influenced by improved labor efficiency. According to Accenture, the manufacturing industry will gain $3.78 trillion from AI by 2035.
Experts emphasize that the increase in global GDP resulting from the use of AI in the coming years will come mainly from AI automation in production. This will include automating routine and non-routine manual and cognitive tasks. The automation will streamline existing processes rather than introduce new methodologies. The sectors of production and transport that are widely considered to be most susceptible to automation are expected to benefit the most from this.
AI Consulting Growth
AI consulting services are developing dynamically. The market is expected to reach USD 22547.81 million by 2028, with a CAGR of 26.49% in the same period (source).
Customers mainly use them to improve business operations through analytical processing and machine learning (ML). The factors driving the AI consulting market are the demand for Al-Driven Insights technology and accelerated digital transformation. Government-backed product development initiatives also play a role.
AI Facts in Agriculture
Artificial intelligence statistics & facts for 2024 highlight the significant and transformative impact of artificial intelligence in the field of agriculture. MarketsandMarkets’ Report forecasts that global spending on connected and intelligent agriculture is set to reach $15.3 billion by the end of 2025, marking a threefold increase in revenue (source).
Artificial intelligence statistics by technologies’ size in agriculture. Image Source: ResearchAndMarkets
Additionally, investments in AI solutions and technologies specific to agriculture are projected to rise from USD 1 billion in 2020 to USD 4 billion by 2026, growing at a CAGR of 25.5% (source).
Looking further ahead, the AI market in agriculture is poised to grow substantially, with an expected market size of USD 8,379.5 million from 2020 to 2030, at a CAGR of 24.8%.
While North America currently generates the highest revenues from AI in agriculture, the Asia-Pacific region is emerging as the fastest-growing market in this sector. This growth underscores the increasing role of AI in enhancing agricultural productivity and efficiency globally.
AI Facts in Software
The AI industry has a foothold in various business functions. From cloud computing for datasets to streamlining company decision-making, artificial intelligence statistics would not be complete without AI software achievements. The AI software market’s global annual revenue is over $50 billion. AI service revenue will have increased by over 6x in five years. The AI market is set to grow by 38% in 2023. By 2025, the AI space is forecast to reach $126 billion in annual revenue.
Rising Dominance of AI Chips in Global Markets
The AI chip market is rapidly growing worldwide, with projections indicating it will reach $83.25 billion by 2027, expanding at a 35% CAGR from 2019 to 2027. Industries such as automotive, healthcare, and IT are increasingly adopting these chips for their high-speed processing and efficiency. North America leads this market with a current valuation of around $30.9 billion, while the Asia-Pacific region is emerging quickly.
The US AI chip market is on track to generate $28 billion in revenue in 2023 and is expected to soar to $165 billion by 2030, growing at a 30.3% CAGR. The market is set to experience a 60% increase by 2025, crossing $50 billion.
NVIDIA, a market leader, has achieved a revenue of $13.507 billion as of July 2023, demonstrating significant growth. The demand for AI chips is particularly high for machine learning applications in security and autonomous vehicles.
IDTechEx forecasts a 24.4% CAGR for the AI chip market from 2023 to 2033, signaling continuous expansion and innovation in the sector.
Artificial Intelligence Statistics & Facts for 2024 in Business
In the business world, AI is increasingly recognized as a pivotal element in strategic planning. According to Forbes, 83% of companies consider AI a top priority in their business strategies. Typical applications of AI in day-to-day business operations include automated emails and chatbots. A survey by Analytics Insight reveals that 80% of retail executives expect their companies to implement AI automation by 2025.
This trend is echoed in the perspectives of CEOs, with around 85% (17 out of 20) viewing AI as a “mainstream technology” in their companies as of 2021, per PwC. Further, 86% of CEOs acknowledge the integral role of AI in business as it becomes a standard technology in their offices. Moreover, O’Reilly reports that nearly half of all companies are now employing some form of machine learning, data science, or AI technology.
AI Regulations: EU At The Forefront
The European Union, the USA, and China are leading the way in regulating the development of artificial intelligence. In December 2023, EU members agreed on the so-called AI Act (AIA) content. Notably, the AIA is intended to be a horizontal regulation covering every application of AI in the EU. And this is regardless of whether the state, enterprises, or ordinary people would use the tool.
The act is also intended to emphasize transparency regarding algorithms and large databases. The regulation will enter into force after the vacatio legis period, which will likely last two years.
Legal acts regulating the development and use of artificial intelligence are also being created in China and the USA. On October 30, 2023, US President Joe Biden signed the Secure and Trustworthy Artificial Intelligence Executive Order. This is the first AI regulation in the US
Artificial Intelligence Statistics & Facts for 2024 Key Takeaways
Global AI Market Growth:
- The global AI market, valued at $136.55 billion in 2022, is expected to reach $1,811.8 billion by 2030, growing at a CAGR of 37.3%.
Artificial Intelligence Statistics & Facts for 2024: AI and Job Market
- LinkedIn reports a 70% increase in AI discussions globally, with a significant rise in AI job searches and applications, particularly in the US.
Rapid Growth of OpenAI:
- OpenAI’s revenue grew to $1.3 billion in 2023, making it the ninth most valuable company in the US with a valuation of $30 billion.
AI’s Economic Impact:
- AI is predicted to contribute $15.7 trillion to the global economy by 2030, with China and the US benefiting the most.
Artificial Intelligence Statistics & Facts for 2024: ChatGPT’s Explosive Growth
- ChatGPT reached 100 million active users by January 2023, becoming the fastest-growing app with 180 million users by December 2023.
Sector-wise AI Market Dominance
- Marketing, BFSI, and healthcare sectors lead the AI market, with the healthcare sector expected to dominate by 2030.
Artificial Intelligence Statistics & Facts for 2024: AI in Healthcare
- AI in healthcare is pivotal in automating tasks and streamlining workflows, with a market expected to grow at a CAGR of 36.4% from 2024 to 2030.
Rise of AI in Agriculture
- AI spending in agriculture is projected to reach $15.3 billion by 2025, with a significant increase in AI implementation in North America and Asia-Pacific.
AI in Software and AI Chip Markets
- The AI software market is expanding rapidly, and the AI chip market is projected to reach $83.25 billion by 2027.
Artificial Intelligence Statistics & Facts for 2024: AI’s Role in Business and Automation
- AI is a top priority in business strategies, with 83% of companies focusing on AI and nearly half using machine learning or AI technologies.
Artificial Intelligence Statistics & Facts for 2024: Regulations
- The EU, USA, and China are leading in AI regulation, with the EU’s AI Act and the US’s first AI regulation coming into effect.
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Artificial Intelligence Statistics 2024 Sources:
https://www.statista.com/statistics/1378695/ai-adoption-rate-selected-countries/
https://www.statista.com/statistics/1368557/ai-solution-by-experience/
https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market
https://omdia.tech.informa.com/topic-pages/artificial-intelligence
https://www.pwc.com/gx/en/issues/analytics/assets/pwc-ai-analysis-sizing-the-prize-report.pdf
https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai-in-2023-generative-ais-breakout-year
https://www.reuters.com/technology/chatgpt-sets-record-fastest-growing-user-base-analyst-note-2023-02-01/
https://news.crunchbase.com/ai-robotics/us-startup-funding-doubled-openai-anthropic-2023/
https://www.factmr.com/report/wearable-ai-market#:~:text=The%20global%20wearable%20AI%20market,worn%20on%20the%20human%20body
https://new.nsf.gov/news/nsf-announces-16m-strengthen-diversify-ai-research
https://www2.deloitte.com/us/en/pages/consulting/articles/state-of-ai-2022.html
https://www.insiderintelligence.com/content/generative-ai-climb-across-all-age-groups-millennials-gen-z
https://idapgroup.com/machine-learning
https://www.mckinsey.com/featured-insights/mckinsey-global-surveys
