Artificial intelligence and Machine learning have become technologies to bring dreams into digital reality. Here Are some facts and stats about AI and ML you need to know.
AI And ML: Stats and Facts
Artificial intelligence and machine learning will become a necessity for businesses and people worldwide.
AI (Artificial Intelligence) Statistics
As of 2022, the global AI market is valued at over $136 billion.
AI industry value is projected to increase by over 13x over the next 8 years.
The US AI market is forecast to reach $299.64 billion by 2026.
The AI market is expanding at a CAGR of 38.1% between 2022 to 2030.
By 2025, as many as 97 million people will work in the AI space.
AI market size is expected to grow by at least 120% year-over-year.
83% of companies claim that AI is a top priority in their business plans.
48% of businesses use some form of AI to utilize big data effectively.
ML (Machine Learning) Statistics
North America (80 percent) is the most advanced in terms of machine learning usage, followed by Asia (37%), and Europe (37%). (29 percent )
During the first quarter of 2021, a total of $29 billion was invested in machine learning.
Budgets for machine learning projects are typically increasing by 25%, with the banking, manufacturing, and information technology industries seeing the most significant increases this year.
For 20% of executives, machine learning is a critical component of their business.
Machine learning is a critical enabler for a wide range of other technologies and applications, such as robotics and speech recognition.