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Generative AI Statistics 2024

Between conversations about Generative AI and AI generated content, even dipping your toe into the sea of information available can be overwhelming. To help break through the noise, we’ve compiled the top AI statistics business and finance leaders should know about AI in 2024, as well as some key themes and predictions. Lets get into it.

It’s safe to say we’ve all entered the AI era, whether you’re in the adoption stage or early exploration stage, for many of us, both personally and professionally, we are leveraging AI on the daily. One thing we will undoubtedly see this year is the major shift in how roles will be impacted by AI, not only the ones which may be replaced, but also the new roles to come. A recent New York Times article highlighted within the AI boom, there’s a new ‘hot’ role in corporate America: Senior Executive in charge of AI.

Coming out of last year, the media covered the extreme highs and lows of the AI machine. Businesses and executives are feeling the pressure to start adopting AI into their way of working. Looking for ways to improve efficiencies, cut costs and improve overall performance. On the flip side is the growing concern around AI’s safety, whether it be through copywrite issues or a closer look at platforms such as WormGPT, created to exploit, steal and scam.

We predict, however, AI will start to see some stabilization as more people become familiar with how it works. We predict there will be plenty of regulations and compliance introduced in the AI space this year, especially as it becomes a growing concern for national security. At the end of 2023, we saw the European Union launch the first set of AI regulations, with many other countries to follow this year.

Trends and predictions are one thing, but what really speaks volumes is the numbers and statistics associated with generative AI on a global scale. Here’s our top 30 stats leaders should know for 2024:

Top AI Statistics 2024 (Editor's Choice)

  • It's estimated ChatGPT costs upwards of $700,000USD per day to run.
  • OpenAI CEO Sam Altman has said over 100 million people use ChatCPT on a weekly basis.
  • 79% of corporate strategists agree AI technology could be critical to their success in the next two years.
  • 60% of finance leaders say they're worried about cyber crime going undetected in their business
  • A sinister new tool, WormGPT, attracted over 5000 users in the first few hours of the platform's launch
  • Almost 75% of corporate executives ranked AI ethics as important in 2021 (compared to less than 50% in 2018).

General Generative AI Statistics

1. India is leading with 71% of people surveyed currently using generative AI.

Salesforce conducted a survey looking at the US, Australia, India and the UK. Australia was the country with the second highest uptake, sitting at 49% of those surveyed saying they are using generative AI.

2. It's estimated by the end of next year, 90% of content online could be AI generated.

Although a fairly recent prediction in 2024, with Google looking more closely at eliminating AI generated content from receiving positive SEO rankings, it’s possible this statistic may in fact look lower by the end of this year.

Several lawsuits are already being brought forward by artists claiming AI providers have stolen their work. Within this same study, half of artists said they fear generative AI will have a negative impact on their income.

4. In a survey by Pew Research, 54% of people could tell the difference between human and AI generated content.

For anyone who has had time to play with ChatGPT, this will likely not come as a shock. It can be glaring to see how AI content stacks up against human generated content. However, as we know, AI is a constant learning and evolving platform, with accelerated improvements happening every day.

5. AI could add $25.6 trillion to the world's economy

McKinsey’s study on the economic potential of generative AI looked across 11 industries to see the potential economic impacts in the near future. For example. in banking, generative AI can improve efficiencies as it relates to lower-risk tasks, whereas in retail, generative AI can improve marketing and customer relations.

6. In 2023, the global AI market was valued at $142.3 Billion

By 2030, the market is expected to reach nearly $2 trillion.

7. It's estimated ChatGPT costs upwards of $700,000USD per day to run.

ChatGPT is a beast, which comes with a potentially high price tag. The cost is associated with the platforms and servers required for training and running large language models. Although the cost is high, experts say margins still remain low when you consider the usage of AI today.

AI Adoption & Usage Statistics

8. OpenAI CEO Sam Altman has said over 100 million people use ChatCPT on a weekly basis.

It’s no secret uptake of ChatGPT was fast, with everyone wanting to get a glimpse at the magic. At OpenAI’s first-ever developer conference, ChatGPT’s founder confirmed it continues to be one of the fastest-growing services ever created.

9. It's predicted we could see a 7% increase in GDP in the next decade thanks to generative AI.

According to Goldman Sachs Research, the breakthroughs we’re witnessing in Generative AI could result in a major boost to the economy. A 7% increase, also calculated as a $7 trillion increase in GDP could happen in the next 10-year period.

10. Users aged 25-34 are among the biggest cohort of users

With people aged 35-44 falling closely behind in second place. These results align closely with the dominating age group in today’s workforce.

AI in Business & Employment

11. In the next 3 years, 75% of professionals expect that generative AI will cause significant or disruptive change in the nature of their industry's competition.

Basically what we’re seeing here is beyond the benefits of automation when it comes to managing a business or doing our day-to-day jobs, people are also expecting several new businesses to emerge with the advancement in generative AI.

12. Marketers have said AI will save them an average of five hours per week.

Marketers are praising the automation aspects of generative AI, saying it reduces time spent on granular tasks, allowing them to focus on being more strategic. Although more than half of marketers have said they already use AI in their day-to-day, another 22% have said they will adopt it in the next year.

13. 66% of jobs could be partially automated by AI

This being said, many of these jobs still require a human element, making it more important for people to view AI as a compliment to several of these roles, not a total replacement.

14. In the US, 73% of companies are leveraging AI in some aspect of their business.

Departments such as marketing, sales, customer support and accounting are some among many leveraging AI to automate their business processes and improve efficiency.

15. 79% of corporate strategists agree AI technology could be critical to their success in the next two years.

Currently, only 15% of strategic planning and execution strategies are automated, however, Gartner’s survey of strategists say they expect almost 50% of tasks could become automated.

16. From 2020-2022, total global corporate investment in AI startups increased by $5 billion.

Advancements in the field of generative AI notably have brought a lot of attention from key players, such as Google, Microsoft, Amazon and more.

AI in Crime

17. Predictive AI software predicts twice as many crimes as human analysts.

Criminal justice and police professionals are seeing a positive uptake of AI in their field. This statistic shows the power of machine learning when it comes to helping analysts understanding criminal patterns and predicting future potential crimes.

18. Asia-pacific saw the highest number of cyber attack incidents in 2023

According to the IBM X-Force Threat Intelligence Index, Asia-Pacific ranked highest for cyber incidents at 31%, with Europe following behind at 28% and North America at 25%.

19. 60% of finance leaders say they're worried about cyber crime going undetected in their business

With the rise of AI comes a new stream of phishing emails, payment redirection schemes, deepfakes and more. Finance professionals are among the top targeted in organisations today, making it no surprise they are feeling the pressure to ensure proper control mechanisms are in place for security and protection.

20. In a 2024 report, 75% of cybersecurity professionals have seen an increase in AI-Powered cyber attacks over the past year

Within the same report, 39% expressed worried about privacy concerns and 37% fear the rise of unpredictable phishing attacks.

21. A sinister new tool, WormGPT, attracted over 5000 users in the first few hours of the platform's launch

Unlike ChatGPT, WormGPT gives cybercriminals the tools they need to carry out illegal activities in a faster, more efficient and more scalable way.

22. 61% of businesses believe they won’t be able to detect a breach without AI technology.

A powerful reminder to business owners, if you’re still thinking about how to implement AI in your business, you’re already running well behind. When prioritising AI and other new technology, it’s crucial to consider systems that can help protect your data and your people from cyber crime and malicious actors.

23. There was a 31% increase in DDoS attacks recorded in the first half of 2023 compared to the same period in 2022.

Distributed Denial of Service (DDoS) attacks have averaged 44,000 attacks per day. These attacks take over a server and prevent users from accessing services and sites while trying to gain access to sensitive information. The National Cyber Security Centre predicts these attacks will only increase in frequency over the next few years.

24. A recent 2024 deepfake cost a hong kong company US$25M

Another example of how the rise of AI, specifically as it relates to the use of Deepfakes, are causing concern for business owners. Scammers recently created a fake business meeting impersonating the CFO of a company, engaging another senior office in the business to send $25M unknowingly to the scammers account.

25. Deepfake fraud attempts were up 3000% in 2023

An ID verification company based in London found a steep increase in deepfake attempts as AI software becomes increasingly more accessible for good and bad.

26. Cybersecurity Ventures estimating that the cost of cybercrime will jump to a projected $10.5 trillion in 2025.

Security leaders predictions are skyrocketing for the very near future, and the news is less bright than we’d hoped. Business leaders need to be looking closely at their security procedures to make sure data and finances go untampered with as we head into the next phase of AI and cybercrime.

AI and Ethics

27. Almost 75% of corporate executives ranked AI ethics as important in 2021 (compared to less than 50% in 2018).

The agenda of many corporate executives is shifting to prioritising AI, not only from the perspective of finding ways to introduce it and leverage it for efficiencies and competitive advantages, but also as it add a growing layer of concern around policies and ethics.

28. A Deloitte study found 56% of executives don't know if their organisation have ethical standards in place for generative AI

Ethical implications are at the forefront when it comes to emerging technologies in 2024, especially as related to AI. Kwasi Mitchell, Chief Purpose and DEI Officer at Deloitte mentions “the adoption of Generative AI is outpacing the development of ethical principles around the use of the technology, intensifying the potential risks to society and corporate trust if these standards continue to lag.”

29. Only 40% of people trust companies to use AI ethically

Consumers are becoming increasingly aware of the dark side of AI, creating an uncertainty and a lack of trust as companies begin to increasingly lean into the technology.

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