AI statistics everyone should know in 2024

AI is indeed transforming industries, revolutionizing the way we work, communicate, and solve problems. Keeping up with the latest trends in AI is crucial for understanding its impact and future potential. This article sums up key and sometimes not obvious, up-to-date AI statistics that everyone should know in 2024.

Market Growth

  • Global Market Value: The global AI market was valued at $214.6 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 35.7% from 2024 to 2030 (Markets and Markets).
  • Economic Impact: AI is projected to contribute up to $15.7 trillion to the global economy by 2030, with $6.6 trillion coming from increased productivity and $9.1 trillion from consumption-side effects (PwC).
  • China’s GDP Boost: AI will boost China’s gross domestic product (GDP) by 26% by 2030, compared to a 14.5% boost for North America (PwC).
  • Generative AI: The market for GenAI is expected to reach $1.3 trillion by 2032 (Bloomberg).
  • Startup Funding: More than 1 in every 4 dollars invested in US-based startups in 2023 went to AI companies (Crunchbase).

Adoption and Usage

  • Rapid Growth: In just four years, from 2015 to 2019, the number of businesses utilizing AI services grew by 270% (Gartner).
  • Generative AI Usage: 65% of organizations are regularly using GenAI, most commonly in marketing and sales, product and service development, and IT functions (McKinsey).
  • Business Adoption: 83% of companies claim that AI is a top priority in their business plans (Content at Scale).
  • Corporate Adoption: 72% of companies have adopted AI in at least one function (McKinsey).
  • AI in Programming: A GitHub survey found that 88% of respondents using AI coding assistants feel more productive and complete tasks faster (GitHub). However, a systematic literature review found that 40% of the code suggested by AI tools like GitHub Copilot contains vulnerabilities, highlighting the need for improved security measures (Frontiers).
  • AI in Marketing: AI-powered marketing is projected to grow at a CAGR of 25.68%, reaching $145.42 billion by 2032 (Precedence Research).
  • AI in Content Creation: AI is making a significant impact on content creation, with more than 15 billion images created using text-to-image algorithms (Everypixel).
  • AI in Education: AI in education is predicted to grow significantly, with the market expected to reach $58.52 billion by 2031, exhibiting a CAGR of 42.1% during 2024-2032 (Reports and Insights).
  • AI in Academia: Approximately 17.5% of computer science papers and 16.9% of peer-reviewed texts now include content drafted by AI (Stanford).
  • AI in Medicine: 38% of medical providers use computer systems as diagnosis assistants (Neurosys).
  • AI in Finance: Approximately 75% of financial services firms use AI to detect and deter fraud (Pymnts).
  • AI in Customer Service: Over 63% of retail companies already integrate AI to improve customer interactions, with 40% dedicating teams and budgets to the technology (Masterofcode).
  • AI Words: The use of AI terminology is on the rise. Terms such as “generative AI,” “prompt,” and “AI models” have seen a significant increase in usage. For example, the term “AI” itself has grown by 215% from 2022 to 2023 (Everypixel).
  • AI Trust: Only 39% of U.S. adults believe current AI technology is safe and secure, while 85% support a nationwide effort across government, industry, and academia to make AI safe (Mitre).
  • Productivity Boost: AI is expected to boost labor productivity by up to 40% by 2035 (Accenture).

Operational Costs

  • Daily Operational Costs: ChatGPT costs around $700,000 per day to run (WPBeginner).
  • Hardware Costs: High-end GPUs, such as the NVIDIA A100, can cost around $10,000 per unit. Renting NVIDIA’s GPUs on cloud platforms like Google Cloud can cost approximately $2.48-8.00 per hour (Datacamp).
  • AI Operation Costs: Stability AI, for example, rented its infrastructure from Amazon Web Services, Google Cloud Platform, and GPU-centric cloud operator CoreWeave at a reported cost of around $99 million a year (The Register).

Job Market and Skills

  • Job Creation and Loss: AI is expected to create 97 million new jobs and eliminate 85 million jobs by 2025, resulting in a net gain of 12 million jobs (World Economic Forum).
  • Demand for AI Skills: The demand for AI and machine learning skills has increased by 74% over the last four years (LinkedIn’s 2020 Emerging Jobs Report).
  • AI in HR: 56% of HR professionals already use AI in their practice (Paychex). However, over 60% of Americans fear potential bias and discrimination in AI-assisted hiring processes (Hostinger).

AI in Daily Life

  • Personal Assistants: Over 4.2 billion voice assistants were in use worldwide in 2020, and this number is expected to double by 2024 (Statista). It is worth noting, that the approach used by Statista, counts each device with a voice assistant as a separate assistant.
  • Smart Homes: The smart home market, heavily driven by AI, is expected to show an annual CAGR of 10.67% and reach $231.6 billion by 2028 (Statista).
  • Autonomous Vehicles: The market for autonomous vehicles is projected to reach $556.67 billion by 2026, with AI playing a crucial role in driving innovations and safety (Allied Market Research).
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