Jun 20, 2018

10 Charts That Will Change Your Perspective On Artificial Intelligence’s Growth

Posted by in categories: biotech/medical, business, employment, information science, mapping, robotics/AI, security

  • There has been a 14X increase in the number of active AI startups since 2000. Crunchbase, VentureSource, and Sand Hill Econometrics were also used for completing this analysis with AI startups in Crunchbase cross-referenced to venture-backed companies in the VentureSource database. Any venture-backed companies from the Crunchbase list that were identified in the VentureSource database were included.

  • The share of jobs requiring AI skills has grown 4.5X since 2013., The growth of the share of US jobs requiring AI skills on the Indeed.com platform was calculated by first identifying AI-related jobs using titles and keywords in descriptions. Job growth is a calculated as a multiple of the share of jobs on the Indeed platform that required AI skills in the U.S. starting in January 2013. The study also calculated the growth of the share of jobs requiring AI skills on the Indeed.com platform, by country. Despite the rapid growth of the Canada and UK. AI job markets, Indeed.com reports they are respectively still 5% and 27% of the absolute size of the US AI job market.

  • Machine Learning, Deep Learning and Natural Language Processing (NLP) are the three most in-demand skills on Monster.com. Just two years ago NLP had been predicted to be the most in-demand skill for application developers creating new AI apps. In addition to skills creating AI apps, machine learning techniques, Python, Java, C++, experience with open source development environments, Spark, MATLAB, and Hadoop are the most in-demand skills. Based on an analysis of Monster.com entries as of today, the median salary is $127,000 in the U.S. for Data Scientists, Senior Data Scientists, Artificial Intelligence Consultants and Machine Learning Managers.

  • Error rates for image labeling have fallen from 28.5% to below 2.5% since 2010. AI’s inflection point for Object Detection task of the Large Scale Visual Recognition Challenge (LSVRC) Competition occurred in 2014. On this specific test, AI is now more accurate than human These findings are from the competition data from the leaderboards for each LSVRC competition hosted on the ImageNet website.

  • Global revenues from AI for enterprise applications is projected to grow from $1.62B in 2018 to $31.2B in 2025 attaining a 52.59% CAGR in the forecast period. Image recognition and tagging, patient data processing, localization and mapping, predictive maintenance, use of algorithms and machine learning to predict and thwart security threats, intelligent recruitment, and HR systems are a few of the many enterprise application use cases predicted to fuel the projected rapid growth of AI in the enterprise. Source: Statista.

  • 84% of enterprises believe investing in AI will lead to greater competitive advantages. 75% believe that AI will open up new businesses while also providing competitors new ways to gain access to their markets. 63% believe the pressure to reduce costs will require the use of AI. Source: Statista.

  • 87% of current AI adopters said they were using or considering using AI for sales forecasting and for improving e-mail marketing. 61% of all respondents said that they currently used or were planning to use AI for sales forecasting. The following graphic compares adoption rates of current AI adopters versus all respondents. Source: Statista.

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