Intelligence

• By 2021 AI augmentation will create $2.9 trillion of business value and lead to an increase of 6.2 billion hours of worker productivity, globally.
• As much as 14% of the global workforce would have to switch occupations or acquire new skills by 2030 because of automation and artificial intelligence.
• Worldwide spending on cognitive and AI systems will reach $77.6 billion in 2022, up from $24 billion in revenue last year.
• Global Citizen Services Ai For Traffic And Transportation Management Market Is Expected Register A Healthy Cagr Of 48.9% In The Forecast Period Of 2019-2026.
• Beijing seeks to build on big data analytic technologies and skills to become, by 2030, the global center for AI or, as Chinese leaders call it, intelligentized decisionmaking.
• National defense big data undergirds Beijing's longer-term effort, articulated by President Xi in his 19th Party Congress speech, to ultimately become the global center for AI by 2030.
• The global RPA market is expected to reach $25.56 billion by 2027, and the AI market is forecast to reach a monumental $390.9 billion by 2025.
• MGI predicts that hours spent performing physical and manual tasks in retail will decrease from 24% (2016) to 18% (2030) and that hours spent performing basic cognitive skills will decrease from 27% (2016) to 24% (2030).
• Worldwide spending on artificial intelligence (AI) is forecast to double over the coming for years to hit $110 billion by 2024.
• Artificial intelligence, machine learning and virtual assistants, chatbots: Gartner analysts forecast an increase from 25% to 37% (2020).
• Artificial intelligence and robotics alone could create almost 60 million new jobs worldwide in the next 5 years.
• The treasury department cites Beijing's public plan to be the global leader in artificial intelligence by 2030 as being one of the drivers for their concern and rightly so.
• China has committed to build a domestic AI industry worth nearly $150 billion in the next few years with an aim to become the leading AI power by 2030.
• Global spending on artificial intelligence (AI) is forecast to double over the next four years, growing from $50.1 billion in 2020 to more than $110 billion in 2024.
• Ten years ago, China's goal of becoming the global leader in AI by 2030 would have seemed fanciful; today, it's a real possibility.
• Regarded as the latest trend in artificial intelligence, AI-Enabled chips are expected to reach a revenue of $91,185 million in 2025, compared to $6,638 million in 2018.
• With Artificial Intelligence continually progressing and developing, it's unsurprising that many companies are aiming to lead in the AI technology market - especially given that the global AI market is on track to be worth over $118 billion by 2022.
• Around 37% of all organizations surveyed are leveraging some form of AI in their business and it is predicted that about 80% of modern technologies will be based on AI and ML by 2022.
• Global revenue from artificial-intelligence hardware, software, and services will climb roughly 12% annually to reach $156.5 billion in 2020, and spending is expected to accelerate as coronavirus-related pressures ease.
• Increasing adoption of IoT, AI, big data, machine learning, among others in the healthcare industry is further expected to foster the market growth over next few years.
• The global Artificial Intelligence in agriculture market is witnessing a CAGR of 26.2% during the period 2019-2024.
• The Global Artificial Intelligence in Diagnostics Market size is expected to reach $1.3 billion by 2026, rising at a market growth of 27.4% CAGR during the forecast period.
• Spending on AI systems will accelerate over the next several years as organisations deploy artificial intelligence as part of their digital transformation efforts and to remain competitive in the digital economy.

Last updated: 06 October 2020