The Statistics of Generative AI in 2024

3.Generative AI Industry Statistics

 

• Generative AI Statistics on E-Commerce

 

The e-commerce market for generative AI was valued at USD 721.31 million in 2023, increased to USD 833.11 million in 2024, and is projected to grow to around USD 3,519.84 million by 2034. From 2024 to 2034, the market is expected to grow at a strong 15.5% compound annual growth rate.

 

The generative AI stats in the e-commerce market in the US was valued at USD 218.21 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 16.1% from 2024 to 2034, or around USD 1,124.58 million.

U.S. Market Size for Generative AI in E-Commerce:

• Generative AI Statistics on Education

 

According to GMA, the learning platform and virtual facilitators segment of the AI market is predicted to grow at a CAGR of more than 20% between 2023 and 2032 as a result of AI teachers using technology to improve student learning standards.

 

Furthermore, 15% of artificial intelligence (AI) sales are anticipated to come from the corporate learning segment of the education market by 2032. In the next ten years, there will be a noticeable increase due to the growing popularity of AI schools.

 

With 91% accuracy, AI-enhanced Chatbots provided personalized help and guidance to students (The University of Murcia chatbot case).

 

62% Increase in Test Scores Through Adaptive Learning (Knewton Case Study).

 

AI Improved Students’ Grades by 30% While Reducing Their Anxiety by 20% (Intelligent Tutoring System (ITS) implementation case)

 

Over 800,000 students across Latin America, Korea, and Japan have improved their English by practicing with AI voice technology (AI startup integration - Edwin.ai case)

 

(Source: springsapps.com)

 

• Generative AI Statistics on Healthcare 

 

Generative AI stats in Healthcare Market was at USD 1.8 billion in 2023 and is anticipated to reach USD 22.1 billion by the end of 2032. (Source: Global Market Insights)

 

Generative AI represents a significant new tool that can aid in unlocking a portion of the unrealized $1 trillion improvement potential within the healthcare industry. (Source: McKinsey)

 

72% of healthcare leaders expressed trust in AI’s ability to automate administrative tasks, thus enabling clinicians to concentrate more on patient care. (Source: Master of Code)

 

4.The Impact of Generative AI on Employment and Skill Development

 

• Job Market Dynamics:

 

A notable trend is that companies are increasingly posting jobs related to Generative AI. LinkedIn reports that job postings on the platform mentioning GPT or ChatGPT have increased 21x since November 2022, when OpenAI first released its AI chatbot into the world.

 

• Employment Creation vs. Displacement: 

 

According to a McKinsey analysis, between 2016 and 2030, advances in artificial intelligence may impact 15% of the world's workforce. This figure includes both the development of new employment requiring AI skills and job displacement from automation.

 

• Trends in Skill Development and Education:

 

Changing Requirements for Skills: The increasing integration of AI into several industries has led to a shift in the skill requirements for numerous vocations. The previous generative AI  stats, which showed an increase in postings connected to AI, indicate that there is a growing need for AI literacy and the capacity to collaborate with AI systems.

 

(Source: hatchworks.com/)

 

5.ChatGPT Statistics

 

ChatGPT has over 180.5 million monthly users as of July 2024.

• ChatGPT is mostly adopted by marketing and advertising  professionals at a rate of 37%

• 27% of industry professionals used ChatGPT for work within the first month of its release

• 43% of industry professionals have used ChatGPT in the workplace

• OpenAI spends approximately $700,000 every day to operate ChatGPT.

• 7 nations, including China and Russia, cannot access ChatGPT. 

• ChatGPT reached 1 million users in just five days after its launch. 

(Source:demandsage.com)

 Conclusion

The generative AI statistics and trends (2024) make it abundantly evident that AI has a significant and prevalent impact. AI's influence is seen in everything from changing consumer behavior and learning methods to challenging business climates and employment markets. As generative AI development services continue to evolve, they play a critical role in shaping these changes and driving innovation. 

 

we stand on the brink of this AI-driven era, it is imperative for businesses, consumers, and policymakers to collaborate, ensuring that principles of equity, transparency, and human-centric values guide AI’s evolution. AI’s journey is far from over, and its true potential lies in our collective hands.