75 Insightful Facts About Artificial Intelligence
For the last couple of years, artificial intelligence (AI) has received a lot of attention. However, information on artificial intelligence and facts about AI have been a bit misleading on the technology.
I guess this is to be somewhat expected given the rate at which it is developing. I mean machines learning from data completely unsupervised, sounds a bit crazy.
In this article, we will cover incredible and mind-bending artificial intelligence facts and machine learning facts including figures and numbers from reports, surveys, and information on the capability of AI at present and into the future.
But before we get to the facts, it is important to understand the meaning and differences of the term.
Usually, different terms are used while talking about artificial intelligence. If you are not an expert in the field it can become unclear and complicated. There is a difference between terms like artificial intelligence, machine learning (ML), and deep learning (DL).
Artificial intelligence is not a system, but it is implemented in the system. Generally speaking it is an umbrella term used for a branch of computer science. It stands for the ability to acquire and apply knowledge, and perform naturally like a human. For example, planning, problem solving and reasoning.
While machine learning is a learning technique where machines can learn from huge data sets. ML is used within AI algorithms. It is simply a time-saving way to achieve AI. Of course, AI can be reached without ML, but it requires a lot of coding for decision trees.
Deep learning is one of many approaches for machine learning research. It works similarly to the human brain – Artificial Neural Networks (ANN’s).
ANN’s are divided into layers, where each layer learns to perform different tasks from sound, images or text. For example, one of the applications of speech embedding is voice bio-metrics. It can be used to capture voice print.
Ok, now onto the fun facts about AI. Hopefully you will take some insightful information on artificial intelligence with you.
1. Google CEO Sundar Pichai claimed that artificial intelligence (AI) will be more transformative to humanity than electricity.
2. AMcKinsey surveyhas found that out of 2,395 participants, 1,151 people said that their companies have adopted AI in at least one function within the organization.
3. PWC has reported that by 2030, the global GDP could rise by 14 percent as a result of AI enabled activities. That is equal to $15.7 TRILLION!!
4. According to International Data Corporation (IDC), the spending on AI will reach $12 billion in 2021 across Europe and it estimates a double-digit growth until 2024.
5. Companies, who have implemented AI in at least one function, plan to invest more in AI to respond to the pandemic, which in turn, helps to differentiate themselves from their competitors. – McKinsey
6. In 2020, private AI investment increased by 9.3% from 2019, despite the COVID-19. This is 3.6% higher than the development from 2018 to 2019. – AI Index
7. 84% of enterprises believe investing in AI will lead to greater competitive advantages.
8. Global revenues from AI for enterprise applications is projected to grow from $1.62B in 2018 to $31.2B in 2025.
9. According to the PWC AI’s Predictions 2021, only 28% of executives have considered AI and machine learning as a priority when it comes to information extraction.
10. According to the AI Index, since the year 2000 the annual investment from venture capital firms into US startups utilizing AI systems has increase as much as six times!
11. Between 2010 and the first quarter of 2020, the venture funding in AI hit a mind-blowing $61 billion. The majority of this investment went to companies located in the USA and China.
12. From a research perspective,China became the global frontrunner of AI in 2021when it came to technological development and market applications.
