AI Statistics

Artificial intelligence is changing the game for businesses – in a good way. With its ability to help businesses engage with customers in real-time, manage operations and ensure business continuity during tough times, AI is quickly becoming a staple for companies across the globe. Here are some artificial intelligence statistics to help you understand AI usage in 2022.

Key Statistics

  • The global AI market size sits at $387.45 billion in 2022.
  • The global AI market value is projected to grow at $1,394 billion in 2029.
  • 35% of companies use AI in their business.
  • AI helps employees increase their productivity by a whopping 61%.
  • 15% of all cosumer service interactions are fully powered by AI in 2022.
  • AI created 2.3 million jobs worldwide but eliminated 1.8 million jobs.

AI Industry Market Size

While different research predicts different percentage increases in the size of the global AI market, one thing is for sure: artificial intelligence is expected to generate a considerable global market revenue between 2022 and 2029.

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The global AI market is worth about $387.45 billion in 2022

This is up 18% from 2021, when the global AI market was worth at $328.34 billion.

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The global AI market value is projected to reach $1394.30 billion in 2029

The increasing demand for artificial intelligence technology in various industries such as retail, financial services, healthcare, food etc. is significantly contributing to the growth of the global market.

AI Market Share by Component

The software is expected to have the highest market share due to its ability to extract data, offer real-time insights and support decision-making. There are various software solutions available for businesses in the industry, including Cortana virtual assistance, Google Cloud Machine Language, IBM Watson, Tensorflow, and more.

The software is expected to have the highest market share due to its ability to extract data, offer real-time insights and support decision-making. There are various software solutions available for businesses in the industry, including Cortana virtual assistance, Google Cloud Machine Language, IBM Watson, Tensorflow, and more.

AI Usage Statistics

The adoption of artificial intelligence (AI) is growing steadily around the world, with the global AI adoption rate now at 35%. This is a four-point increase from the year before, and in some industries and countries, the use of AI is practically ubiquitous. The impact of AI on businesses and society stands at a turning point.

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35% of companies reported using AI in their business

The primary reason that AI was adopted so widely was due to its accessibility which made it easy to implement in any organization.

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AI Boosts Productivity by 61%

61% of workers say that their adoption of artificial intelligence (AI) within the workplace has led to a 61% boost in productivity.

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66% of companies are using AI for their sustainability goals

66% of companies are either already using or planning to use AI to help them achieve their sustainability goals.

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15% of all costumer service interactions are fully powered by AI

Companies are finding it increasingly important to offer perks and benefits that can help retain employees who provide great customer service.

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Larger companies are 100% more likely to adopt AI in their organization

Larger companies are now 100% more likely than smaller companies to have deployed AI in their organization, compared with only 69% in 2021.

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22% of companies are using AI because of labor or skills shortages

Companies are in the gradual need to implement a strategy that can successfully alleviate labor and skills shortages.

Countries with the Highest
Usage of AI

In countries across the world, AI is being adopted by organizations at a rapid pace. Most IT professionals report that their company is developing or already has AI strategies in place. However, professionals in India and China are most likely to say their companies’ AI strategies are holistic across the organization. This means that AI is being adopted in a well-rounded way, taking into consideration all aspects of the business that could be improved by its implementation.

Top Factors Driving
AI Adoption

One of the main reasons why AI adoption has been gradual up until this point is the need for a strategy that can successfully operationalize and apply AI to business goals. Today, many organizations who haven’t embraced AI yet are working on developing the right strategies to do so – especially smaller companies who have been much slower in adopting AI technology.

The need to reduce costs and automate key processes is what’s driving AI adoption in most markets globally. Other reasons companies cite are that AI is more accessible and easier to deploy (45%), AI is used by most of their competitors (31%), demands due to the COVID-19 pandemic (31%) , pressure from consumers (25%) etc.

Advancements in AI that make it more accessible
43%
Need to reduce costs and automate key processes
42%
Increasing amount of AI embedded into standard off-the-shelf business applications
37%
Competitive pressure
31%
Demands due to the COVID-19 pandemic
31%
Pressure from consumers
25%
Company culture
22%

Source: IBM

AI Employment Statistics

By 2030, 38% of U.S. jobs will be at risk of automation

Experts predict that the adoption of automation will contribute to job losses in the coming years. By 2030, the labor force will have reduced by over 1/4 of what it was in 2017.

375 million people will have to switch careers by 2030

With the rise of robotics and AI, many jobs that have been traditionally done by humans will be replaced by machines. This shift will result in the displacement of nearly 400 million people who will need to find new careers.

AI automation is responsible for 29% of machine and asset maintenance in manufacturing.

Almost 30% of AI is being used for maintenance in manufacturing. The technology is able to sense when machines are about to fail and recommend a suitable time for repairs.

AI in Software Development

The software sector is experiencing significant growth due to the implementation of innovative artificial intelligence technologies. Artificial intelligence, including machine learning and natural language processing, is attracting increasing interest as a solution to various project challenges.

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Software AI tools generate $2.9 trillion

This has led to a race among businesses to acquire AI-powered software that can help them improve their performance and competitiveness.

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Over 1.3 million tech professionals are expected to work in the software development industry in 2023

The job outlook for software developers is expected to remain strong, with growth projected at over 20 percent. This is significantly higher than most other professions.