Artificial Intelligence (AI) worldwide - Statistics & Facts

Artificial intelligence, referring to the creation of intelligent hardware or software, able to replicate "human" behaviors such as learning and problem solving, is a field of computer science that has been the subject of people’s imaginations and science fiction movies for decades. Although the term was coined by Stanford professor John McCarthy in 1956, it has become a commonplace term, often portrayed in movies by robots that act like humans in various contexts – from robots overthrowing their human masters to societies where robots and humans live side by side. Fiction aside, artificial intelligence is no longer limited to movie screens; it is part of people’s daily lives. Artificial intelligence already allows machines to complete various "human" tasks, from driving automobiles and reacting to their environment, to providing virtual assistance to playing games. Robots are already used widely in numerous industries, and are projected to spread throughout the consumer market in the next few years.

The applications for artificial intelligence are effectively limitless, and this field of computer science is extremely promising. Worldwide revenue from the AI market is projected to reach as high as 97.9 billion U.S. dollars by 2023. Companies, particularly from software and information technology services industries, are investing heavily in artificial intelligence. At the same time, AI-focused startups have been gaining momentum and attention from investors, with the funding of AI-startup companies nearly increasing by fivefold from 2015 to 2018. The majority of startup companies working in the AI market are focusing on applications for machine learning, a type of artificial intelligence which allows computers to learn without human assistance. At last count, at least 31.7 billion U.S. dollars have been invested in this particular AI category. Many startups have also bet on the natural language processing market, which involves voice and speech recognition and text prediction, to name a few applications. This particular AI market is forecast to grow to 12.4 billion U.S. dollars in 2020.

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Artificial Intelligence (AI)

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