Data Insight

According to a Stanford University HAI study, 36% of surveyed respondents agree that AI decisions could cause a nuclear-levelcatastrophe.

Read the latest estimate from experts and the public on when the first general AI system will be devised, tested, and publicly announced

In 2023, worldwide expenditure on artificial intelligence (AI) is anticipated to reach $154 billion, reflecting a significant growth of 26.9% compared to the expenditure in 2022. The continuous integration of AI across various products will drive a compound annual growth rate (CAGR) of 27.0% during the forecast period from 2022 to 2026.

As of 2023, the market size value is estimated to be USD 196.63 billion. However, based on revenue forecasts, it is projected to reach USD 1,811.75 billion by 2030. This indicates a remarkable growth rate, with a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030.

Generative AI has the potential to automate approximately 300 million full-time jobs, equivalent to the number of jobs that could be affected by its implementation. Estimations suggest that generative AI could contribute to an increase in annual labor productivity growth by slightly less than 1.5 percentage points over a 10-year period after widespread adoption.

Researches have found that approximately two-thirds of existing jobs are susceptible to varying degrees of AI automation. Furthermore, generative AI could potentially substitute up to one-fourth of the current workforce. Extrapolating these estimates on a global scale indicates that generative AI may subject around 300 million full-time jobs to automation.

Over the next 8 years, AI has the potential to result in a staggering $56 trillion added to the global economy. ARK further predicts that knowledge workers equipped with AI will experience an annual growth rate of around 15%, surpassing the consensus expectation of 2.7% for wage growth until 2030.