The Digital Evolution series sponsored by Global X ETFs has provided a visual guide to AI adoption by industry.
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The world’s workforce is starting to use artificial intelligence’s plethora of applications at a substantial rate as more and more companies invest resources in it.
Alan Kennedy of Visual Capitalist examines AI adoption numbers and discusses the effects of AI technology on today’s workforce in this graphic, which is a part of the Digital Evolution series sponsored by Global X ETFs.
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Who Uses AI?
An amazing 50% of businesses claim to be using AI technologies for at least one aspect of their operations, according to a recent poll. But when we delve more, it becomes clear that AI has great potential as a flexible and versatile tool:
A sizable number of users have also adopted generative AI systems like DALL-E, Bard, and ChatGPT. OpenAI’s ChatGPT in particular has 100 million users and more than a billion monthly hits.
Finance Leads the Way in AI Adoption
The financial sector has taken the lead in implementing AI. AI algorithms can evaluate enormous volumes of data in real-time when used to manage complex risk concerns, allowing for the prompt detection of fraud and market movements.
As a result, AI technology has emerged as a game-changer in the risk industry. According to a McKinsey survey, 48% of risk management professionals cited an increase in revenue as a direct result of using AI. As a result of AI’s ability to automate repetitive jobs, improve procedures, and lower the margin for mistakes, 43% of respondents also reported lower expenses.
The Job Market Responds
There is a demand for AI-skilled professionals in the United States due to the increase in AI use. This table shows the percentage of American job listings that are related to artificial intelligence between 2021 and 2022.
Notably, IT (5.3% of all job posts), professional, scientific, and technical services (4.1%), and finance and insurance (3.3%), are the top three industries with the largest need for AI ability. These are the sectors, according to this trend, where AI can have the most impact.
The Transformative Power of AI
With half of the surveyed firms using AI technologies in some capacity to optimize their operations, AI adoption has reached a key juncture. But the true potential of AI is much more than this.