6 Top Artificial Intelligence Stats You Should Know About in 2024

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Introduction
#1. The Global AI Market Size Will Reach $500 Billion by 2024
#2. 77% of Devices Will Have AI Features by 2025
#3. AI Can Improve Business Productivity by 40%
#4. Eighty-five percent of CEOs Will Lean Into AI by 2025
#5. AI Could Displace 85 Million Jobs by 2025, Will Create 97 Million New Ones
#6. In 2023, AI Startups Raised Over $75 Billion
Final Words

6 Top Artificial Intelligence Stats You Should Know About in 2024

Curated by

cdteliot

5 min read

253

As reported by Forbes and NextMSC, the global artificial intelligence market has surged to an estimated $207.9 billion in 2023, with projections indicating explosive growth to $407 billion by 2027, underscoring AI's rapidly expanding influence across industries worldwide.

#1. The Global AI Market Size Will Reach $500 Billion by 2024

pcmag.com

This is a pretty impressive number to say the least, especially when you realize just two years ago the market was estimated at $168.5 billion

. Of course, the reason for such an increase has to do with current mass adoption and innovation going through the roof. For many people, their first obvious connection to AI has been through OpenAI and ChatGPT

. From content creators to mathematicians to students looking for an easier way to find the answers they've been seeking, it's been an eyeopener as to what AI can do to make our lives easier

. Estimates for 2030 are that the market will surpass $15.7 trillion, according to PwC

. This is as organizations are also seeking the value that AI can bring to their processes and product offerings

4 sources

#2. 77% of Devices Will Have AI Features by 2025

themindstudios.com

As AI becomes more a part of our everyday lives, you can expect all of your devices to be a part of the fun. This will most likely include voice assistants, health tools, recommendation tools, and more.

Voice assistants including Apple's Siri, Amazon's Alexa, and Google Assistant are sure to move beyond the basic commands that are available currently. Imagine being able to enjoy a voice assistant who knows the ins and outs of your home controls, habits, and routines so that you'll never miss a beat. They will even be able to suggest new shows that you'll like, recipes you'd enjoy fixing, and remind you of appointments.

They may even be able to understand emotions, and tone of voice, and make health and lifestyle-related suggestions that will help you find calm.

Speaking of health, AI will transform wearable devices such as smartwatches to go far behind your heart rate and how many steps you take in a day. They are expected to predict health issues before they hit and remind you to move more often. Soon, health practitioners may even be able to monitor your overall health and remind you of upcoming appointments.

Finally, AI features will see to it that the content you read, see, and watch fits your preferences and needs. With so much noise and content out there, if you so choose, you'll be able to sit back, relax, and have AI serve up everything you desire.

This all may seem like a bit of overkill to some, but we're all headed toward a future that (if we so choose) will make our individualized worlds and lives more efficient and enjoyable.

7 sources

#3. AI Can Improve Business Productivity by 40%

mckinsey.com

A recent study by McKinney found that when organizations use AI in their processes, it leads to a 40% increase in output

. Automating tasks that are repeated throughout the day, weeks, and months, allows businesses and their members to focus on activities that are high-value in nature. It makes focusing on innovation a higher priority, rather than being stuck in the weeds. It's expected that in the coming months and years, organizations will be steeped in predictive analytics, a subset of AI that will allow them to make important decisions that rely on data with much greater accuracy. Predictive analytics relies on a combination of machine learning algorithms and historical data and then utilizes statistical techniques to forecast the future. This enables organizations to anticipate trends, better understand human behavior, and adjust as the market ebbs and flows

. The hope is that the days of reactive behavior (rather than proactive) can end, and brands can work to innovate to new heights and stay agile.

2 sources

#4. Eighty-five percent of CEOs Will Lean Into AI by 2025

This will include businesses turning to AI for strategy brainstorming and implementation, and to boost customer satisfaction. As mentioned above, historically, company leaders have been bogged down with the particulars of the organizations they lead.

But now, CEOs are increasingly understanding that AI can free them up from the particulars (allowing AI to do the heavy lifting), and they can spend more time innovating.

For example, consider a growing retail brand that's had trouble optimizing its supply chain, which has led to frustrated customers. Normally, brand leaders would have to spend hour upon hour trying to figure out where things are going wrong. This process would include going over sales data, reviewing inventory, and pouring over demand forecasts. When done manually, it can be both time-consuming and frustrating. Enter the era of AI and predictive analytics and all of a sudden its data becomes a living and breathing entity that tells a story and helps leaders quickly understand what's going wrong—be it quality and comfort issues, seasonality, for a marketing effort that's simply falling short.

All of a sudden, the CEO of the brand is empowered to make quick decisions and focus more on innovating rather than the minutia that has been bogging the company down for longer than they'd like to admit.

4 sources

#5. AI Could Displace 85 Million Jobs by 2025, Will Create 97 Million New Ones

weforum.org

The World Economic Forum recently shared that AI is going to challenge humanity to make important career shifts sooner rather than later. Overall, the shift will make a positive impact in the long run, but unfortunately in the short term there may be some painful moments for workers around the world.

To survive the shift, it's vital that professionals take a realistic look at what's happening in their industries and ask important questions such as: "Do I like the field I'm in?", "Should I try something new?", Will my job be impacted by AI?", "Do I want to join in the AI revolution and become a part of the movement?"

The more proactive you can be in analyzing what inspires you most and what's coming in your field of work, the better.

1 source

#6. In 2023, AI Startups Raised Over $75 Billion

Top industries that raised funds include healthcare, productivity tools, autonomous vehicles, and fintech. With the leading regions that have received the funds including the United States, Europe, and China.

Autonomous vehicle companies attracted significant investment in 2024, with several major funding rounds. Cruise raised $850 million from GM to restart its operations, while Aptiv secured $816 million.

Other notable investments included $200 million for Waabi, $185 million for 42dot, and $54 million for Tier IV.

Government programs also provided funding opportunities, such as the R&D Partnership Fund in Ontario offering up to $1 million for connected and autonomous vehicle projects

, and the U.S. Department of Transportation's SMART grant program providing up to $15 million for smart transportation technologies.

4 sources

Final Words

The writing is on the wall! AI is literally here to transform the world as we all know it. The secret to our success appears to be to embrace the shift. Dive in and learn as much as possible, and decide what side of the fence you'd like to sit (or innovate) on. There are numerous opportunities in AI if you find yourself wanting to play a role in the revolution. It begins with identifying your current skills and how they may fit into AI. For example, a writer may want to learn the ins and outs of AI language models. Next, innovating a custom GPT from scratch may help enlighten him/her on what the technology is all about and what it can do. There are also opportunities for content creators to learn how to prompt and work with emerging tech brands in the space to further build out their technologies. The opportunities are endless! The question is, are you going to join in the fun?

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