Mind Boggling Facts and Statistics about Artificial Intelligence
Mind Boggling Facts and Statistics about Artificial Intelligence.
Artificial Intelligence (AI) also referred to as Machine Intelligence is a hot topic, which is loved by many, feared by few, but cannot be avoided by any. Yes, that’s the power of AI. Now let’s take a look at certain statistics that will help you to understand the popularity of this emerging exponential technology.
By 2020 One Billion Video Cameras to be Connected to AI
Nvidia just announced that its AI Imaging System can reconstruct or repair corrupted photos with minute level of accuracy. Its system “Metropolis”, an AI-platform for smart cities is getting popular at lightning speed. Huawei and Alibaba are early adopters of Metropolis.
Fifty plus organizations are already using Metropolis and, by 2020, according to NVIDIA, there will be one billion video cameras worldwide that could be connected to AI platforms to make cities smarter.
When connected to AI, cameras can be used to recognize shapes, faces and even the emotions of individuals, which has varied applications: autonomous cars, video surveillance and consumer behavior analysis (interest in items, response to ads for example).
Seven Billion AI-Powered Devices by 2020
AI powered voice assistants are making homes and offices smarter. As per a survey done by experts, by the end of this year, 4.5 billion devices will be equipped by digital voice assistants like Amazon’s Alexa, Google’s Assistant, Apple’s Siri and Samsung’s Bixby.
By 2020, the number of AI-powered devices is expected to reach seven billion.
By 2020 20% of Workforce will be on Neural Networks
Gartner, a research company, mentioned in its report “The Disruptive Power of Artificial Intelligence” that by 2020, 20% of the workforce will be working on Neural Networks which, because of the way AIs have been designed, still need human intervention. Neural networks need to be maintained, monitored and retrained all the time to yield the most satisfying results.
By 2020 85% of Customer Interactions will be Automated
This is another forecast from Gartner which proves beyond doubt how in-depth AI is disrupting and penetrating companies.
Customers are relying less on human interaction and more on chatbots, virtual advisors, and other digital assistants in their daily transactions with various companies.
That leads us to the next figure.
By 2030 38% of Jobs in the U.S. could be Automated
By the early 2030s, robots might replace 38% of human-resourced jobs in the U.S., according to a PwC report. In other countries, the numbers are as follows:
- Germany (35%)
- United Kingdom (30%)
- Japan (21%)
Perhaps to some, this is the most alarming figure on this list, but that doesn’t mean that these jobs will disappear altogether by that date. For the most part, this indicates a certain vulnerability for some industries. Please refer to one of my previous posts, which explains AI will never be a job killer.
By 2025 AI Market will be of $60 Billion
Growing from a value of $1.5 billion USD in 2016, analysts expect the AI software market to reach nearly $59.8 billion by 2025.
But that’s not the entire picture. The AI-driven economic growth of many industries will be much more substantial and far-reaching. By 2030, an estimated $15.7 trillion will be added to the global GDP thanks to AI.
There are several industries where AI is creating ripple effect, not to forget healthcare and life sciences. Millions of lives could be saved each year around the world, thanks to AI.
Over a million die each year in traffic accidents, not to mention millions of injured and thousands of billions of dollars in property damage and other expenses.
In the future, road crash fatalities would decline with more progress, and universal appeal of autonomous cars that, unlike human drivers, don’t get distracted and are less likely to bump into each other.
Planning, preparation, implementation, and governance will definitely help Artificial Intelligence to achieve the projected figures.