Top 150+ AI Facts You Need to Know in 2024: Who’s Using It & How?

Artificial intelligence (AI) is quickly becoming a part of our everyday lives, and it's not slowing down. This technology is especially changing how businesses work, helping them make smart decisions with data, automate tasks, and give better service to customers.

Things are moving fast with AI, so we've put together some key statistics from 2023 to help you understand what's happening. Keep reading to learn who is using AI, how it's being used, and how it's changing workplaces.

Top 150+ AI Facts You Need to Know in 2024: Who’s Using It & How?

AI Statistics Highlights:

The global AI market could be worth $1.35 trillion by 2030.
By 2030, AI might add $15.7 trillion to the world economy.
Running ChatGPT costs at least $700,000 per day.
Over 4 million AI-generated images are made daily with DALL-E.
57% of Americans are excited about AI taking over household chores.

AI Growth Statistics:

AI has been growing really fast lately. From chatbots to image generators, AI tech is making big changes in many industries.

The AI market is currently worth $136.55 billion (Grand View Research).
It's expected to grow by 37.3% per year until 2030.
Another forecast says the AI market will hit $1.35 trillion by 2030, with some estimates going as high as $1.87 trillion by 2032.
The AI wearable market is predicted to reach $180 billion by 2025 (Global Market Insights).
AI in social media might grow to $12 billion by 2031.

Who’s Using AI:

91% of top organizations are investing in AI, and many are increasing their spending each year (NewVantage Partners Annual Survey, 2022).
In 2022, the global AI adoption rate was 35%, up 4% from the previous year (IBM).

AI in Action:

ChatGPT launched in November 2022, gaining over a million users in just five days.
The new social network Threads reached 1 million users in just 1 hour (Statista).
97% of business owners think ChatGPT will benefit their operations (Forbes).
OpenAI, the company behind DALL-E and ChatGPT, reports having over 3 million active users creating more than 4 million images daily.

Almost every business leader—94% to be exact—believes AI will be crucial for business success in the next five years, according to a 2022 survey by Deloitte. This survey included responses from 2,620 leaders from companies already using AI.

PwC's study on AI predicts that by 2030, AI could add a whopping $15.7 trillion to the global economy. This boost is expected to come mainly from increased productivity and new, better products that customers will want.

Breaking it down, China’s GDP could grow by 26%, and North America’s by 14.5%, thanks to AI. Together, these regions might capture nearly 70% of the total global gains from AI.

Artificial Intelligence

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AI and the Workforce

Let's check out who's using AI at work, what they're using it for, and how it's going to change jobs in the future.

How is AI Being Used at Work?

A 2022 McKinsey survey gives us a good idea of how companies are using AI right now:

Product and service development: 55%
Marketing and sales: 55%
Service operations (customer service and back office): 54%
Risk modeling and analytics: 15%

Forbes also surveyed 600 business owners, revealing how they use or plan to use AI to boost customer experiences:

Chatbots for instant messaging: 73%
Composing emails: 61%
Product recommendations and personalized services: 55%
Composing text messages: 49%
Personalized advertising: 46%
Long-form content for websites: 42%
Phone calls: 36%

56% of these business owners say they already use or plan to use AI for customer service.

Other popular uses include:

Cybersecurity and fraud management: 51%
Digital personal assistants: 47%
Customer relationship management: 46%

Surprising Uses of AI

AI isn't just for tech and marketing. Here are some unexpected ways AI is being used:

Cancer Prediction: Researchers at the University of British Columbia and BC Cancer have developed AI that predicts cancer survival with 80% accuracy by analyzing doctor's notes.
Protein Structure Prediction: An AI tool can now predict the structures of 200 million proteins, stored on a 23-terabyte database, which could revolutionize drug development, according to Nature.
Lip-Reading: Oxford University scientists created an AI that lip-reads with 400% greater accuracy than humans.
Emotion AI: This technology uses natural language processing (NLP) to detect human emotions in text and could be used in healthcare apps to help doctors monitor the emotional state of patients, especially those with neurodiverse conditions, as reported by Neuroscience News. It could also assist in mental health assessments and diagnoses.

How is AI Affecting Jobs and Workers?

According to a survey by Deloitte, 82% of business leaders think AI makes jobs more satisfying and helps people perform better at work. On the flip side, 47% are worried that AI might create fear and concern among workers.

By 2030, AI is expected to become so advanced that it could threaten many jobs, according to Marketsandmarkets. People in the U.S. are already aware of this risk. A Pew Research Center study found that the top worry about AI is the loss of human jobs.

Younger people are more positive about AI's impact on jobs. Data from Statista shows that 42% of Americans aged 18-44 believe AI will create many new jobs, while only 6% of those aged 45 and older think the same. In contrast, 48% of older people think AI will reduce jobs, compared to only 18% of younger people.

A study by Goldman Sachs in April 2023 predicts that AI will significantly increase job opportunities globally but might also replace 300 million full-time jobs. It also noted that two-thirds of U.S. occupations are somewhat vulnerable to AI.

The jobs most at risk in the U.S. include:

Office and administrative support: 46% of tasks could be automated
Legal work: 44%
Architecture and engineering: 37%
Life, physical, and social sciences: 36%
Business and financial operations: 35%

Economists estimate that 60% of today's jobs didn't exist 80 years ago, and 85% of employment growth has come from jobs created around new technology.

In 2022, the Stanford University AI Index Report found that 2.05% of U.S. job postings required AI skills. This number has been steadily increasing over the years. Canada came second with 1.45%, and Spain third with 1.33%. In every country studied, the demand for AI skills has been growing since 2014.

AI Skills in the Job Market: India Leads, US Follows

The United States isn't the leader in AI skills; that title belongs to India. India's AI skill rate is 3.23%, which is 45% higher than the US, putting the US in second place.

Jobs Needing AI Skills

According to the McKinsey Global Survey on AI, here's who is hiring for AI skills:

Software Engineers: 39% of companies are looking for them.
Data Engineers: 35%
AI Data Scientists: 33%

Even if you're not an engineer, there's still hope. Design specialists and translators also made it to the top 10 jobs requiring AI skills.

When it comes to specific AI skills:

Python: Mentioned in 37% of AI job postings in the US.
SQL: Mentioned in 23% of job postings.
Java: Mentioned in 17% of job postings.

Other important skills include computer science, data analysis, and data science.

California leads the US in AI job opportunities, holding 17.9% of AI job postings. Texas comes in second with 8.4%, and this gap might narrow as more companies move to Texas for its lower taxes and operating costs.

AI and Business: Costs and Savings

How much does it cost to bring AI into a company? And more importantly, how much can it save?

Many industrial companies that use AI are already saving a lot of time and money. According to a 2022 Accenture report, companies using AI for designing, developing, and producing products are saving 30 times more than those that don't. This is because they use cool tech like automated guided vehicles and smart supply chain management.

AI isn't just about saving money, though. It also makes things work better. In a 2022 IBM survey, 54% of companies said cost savings were the biggest benefit of using AI. Improvements in IT and network performance came close with 53%, and better customer experiences with 48%.

Netflix is a great example. Their AI-powered recommendation system saves them about $1 billion a year.

This system suggests shows and movies viewers are likely to enjoy, which keeps them watching and reduces cancellations. This was back in 2015, and it's likely the savings have only grown since then.

A Harvard Business Review study found that companies using AI in sales saw amazing results: cost savings of 40-60%, call times cut by 60-70%, and a 50% increase in leads and sales.

Certain industries, especially those that need a lot of labor or capital, are set to gain the most from AI.

An Accenture report predicts that by 2035, industries will see these profit increases with AI:

Education: 84%
Accommodation and food services: 74%
Construction: 71%
Wholesale and retail: 59%
Healthcare: 55%
Agriculture, forestry, and fishing: 53%

AI is also transforming supply chain management. Companies that adopt AI early are saving 15% on logistics costs, boosting inventory by 35%, and improving service levels by 65% compared to their competitors, according to McKinsey.

One of the most impressive examples of AI in action was in 2017 when Amazon bought Kiva, a robotics company. This allowed Amazon to reduce the click-to-ship cycle from 60-75 minutes to just 15 minutes. Inventory capacity went up by 50% and operating costs fell by 20%.

However, many companies still see cost as a barrier to using AI. IBM reports that 29% of businesses are hesitant to adopt AI due to the price. Lack of AI skills or expertise is the top reason, reported by 34%.

Running AI can be expensive. For example, ChatGPT costs around $700,000 per day to operate, which is about $0.36 per query.

As AI models get more complex, these costs could rise.

There's also an environmental cost. A study from the University of Massachusetts Amherst found that training a single deep-learning algorithm can emit 313 tons of CO2, which is five times more than what an average car emits in its lifetime.

Risks of Using AI in the Workplace

A report from Stanford University highlights the risk of gender and racial bias when using AI. For example, images created by DALL-E 2 showed 97% of people in top positions, like CEOs and directors, as white men, even though women hold 29.1% and 39.6% of these roles, respectively. The research also found that words like “unreasonable,” “stubborn,” and “intellectual” were linked to men, while “compassionate,” “sensitive,” and “emotional” were linked to women. This is a big problem if AI starts creating job profiles with these biases.

Businesses are aware of these risks. According to Stanford, the top risks of AI in 2022 were:

Cybersecurity: 59%
Regulatory compliance: 45%
Personal/individual privacy: 40%
Explainability: 37%
Organizational reputation: 32%
Equity and fairness: 30%
Workforce/labor displacement: 28%
Physical safety: 20%
National security: 13%
Political stability: 9%

However, there are gaps between these risks and the steps companies are taking to mitigate them. An IBM study found that 74% of businesses using AI haven't reduced unintended bias, and 60% haven't developed policies for ethical AI use.

A Forbes survey showed other concerns from business owners:

43% worry about becoming dependent on AI.
33% are concerned about workforce reduction.
31% have privacy concerns.
30% fear AI might give misinformation.
28% are worried about bias errors.
24% believe AI might reduce website traffic.

How We Use AI in Everyday Life

AI is becoming a big part of our lives. Here are some cool stats about how it's being used.

According to a Pew Research Center survey, 57% of Americans are excited about AI taking over household chores. About 40% are hopeful AI can help diagnose medical conditions, and 9% think AI could help make big life decisions.

Forbes did a survey too and found out how people are using AI:

45% use it to respond to texts or emails.
43% ask it financial questions.
38% use it to plan trips.
31% let it craft emails.
30% prepare for job interviews with its help.
25% use it for social media posts.
19% use it to summarize long or complex texts.

Driverless Cars: The Future or Not?

Self-driving cars are a big deal, but not everyone is on board. The market for these cars is expected to grow from 20.3 million units in 2021 to 62.4 million units by 2030. Driverless cars could reduce road deaths by 90%, potentially saving over 30,000 lives each year in the U.S. alone. But, according to Pew Research, only 26% of Americans think autonomous vehicles are a good idea, while 44% think they aren't.

Digital Assistants: Who's the Best?

When it comes to digital assistants, Google Assistant is the most accurate, answering 93% of queries correctly. Siri comes next with 83%, and Alexa follows with 80%. Siri only beats Google in handling phone-related tasks.

AI Making Headlines

AI has been everywhere in the news. Here are some top stories:

Microsoft Bing hit 100 million daily users in March 2023, thanks to its new AI chatbot.
ChatGPT-4 passed the bar exam, scoring higher than 7% of human test-takers.
The ChatGPT website gets around 1.8 billion visits each month.
The U.S. is the biggest user of ChatGPT, followed by India and Japan.
While ChatGPT is thriving, other AI tools like Jarvis have seen a drop in traffic.
Over half of UK adults have heard of generative AI, and more than a quarter have used it.
Geoffrey Hinton, a top AI scientist, left Google in May 2023, warning about the dangers AI could pose to humanity.

FAQs

Q. What is the difference between AI and machine learning?

A. AI refers to the broader concept of machines being able to carry out tasks in a smart way, while machine learning is a subset of AI that involves machines improving at tasks with experience.

Q. Who invented AI?

A. AI development has contributions from many, including John McCarthy, Alan Turing, and Marvin Minsky.

Q. How many people use AI?

A. Almost everyone with a mobile phone uses AI, with 97% of mobile users having AI-powered assistants like Siri.

Q. Can AI fully replace humans?

A. AI will never fully replace humans but will augment and create new jobs while taking over routine tasks.

These stats and insights provide a comprehensive overview of AI's current state and its trajectory.