Artificial Intelligence Stats and facts

Artificial Intelligence Stats and facts

  • The recommendations engine of Netflix powered by Artifical Intelligence (AI) is worth $1 billion every year 
  • The global AI market is expected to reach 180 billion dollars by 2025 
  • The annual growth rate of AI between 2020 and 2027 is forecasted at 33.2% 
  • The revenue of AI chip market is expected to grow to $83.25 billion by the year 2027 
  • It is expected that Asia Pacific Region will experience the highest annual compound growth rate in AI. 
  • It is estimated that by 2030, China will be the world leader in Artifical Intelligence (AI) Technology with 26.1% of the worldwide market share. 
  • The ML application industry received a funding of #37 billion in the year 2019 in the US. 
  • It is estimated that Artifical Intelligence (AI) will reach an approximate $15.7 trillion growth in GDP globally 
  • As much as 93% of automation technologists feel unprepared for challenges arising from smart machine technologies 
  • According to a survey, 54% of executives agreed that by implementation of AI in workplace has increased the productivity. 79% of the executives feel that Artifical Intelligence (AI) would simplify their jobs and render it more efficient. 
  • It is estimated that the growth in AI usage will create $2.9 trillion worth of business value and will add 6.2 billion hours of worker productivity 
  • AI startups received a massive funding of 7.4 billion dollars in the second quarter of the year 2019 
  • There were more than 279,000 patent applications in the US by March of 2019 
  • In the year 2019, the supply chain industry registered massive cost decrease of 44% by implementation of AI technology 
  • The use cases that contribute to maximum cost reduction in organizations are talent management optimization, automation of contact center and warehouse. 
  • Machine Learning detects 50% of the 300 billion emails sent everyday as spam 
  • Researchers using AI software could identify source code which were plagiarized with 87% accuracy. 
  • It is estimated that Artifical Intelligence (AI) technology will lead to a reduction of workforce by 16% in US by the year 2030 
  • 40% of businesses stated customer experience to be their major motivator for AI 
  • 71% marketers consider AI would prove useful in personalization 
  • 80% of marketers had already employed chatbots as a major part of their CX strategy 

Source: SEM Rush (https://www.semrush.com/blog/artificial-intelligence-stats/) 

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