AI

• [New] The Office of Naval Intelligence recently forecast China's submarine fleet to grow by six nuclear-powered attack submarines by 2030.
• [New] Physical and manual skills will continue to be the single largest category of skills, shrinking from 31% of workers' time in 2016 to 25% in 2030 across the United States and Western Europe.
• [New] 77% of finance executives expect AI and related technologies to have a high or very high importance to their businesses within two years.
• [New] Worldwide revenue from memory devices in AI applications will increase to 60.4 billion dollars in 2025 from 20.6 billion dollars in 2019, while the processor segment will grow from 22.2 billion dollars in 2019 to 68.5 billion dollars in 2025.
• [New] Global spending on AI (hardware, software, and services built on them) is expected to exceed $150 billion in 2020.
• [New] By 2023, 40% of DevOps teams will augment application and infrastructure monitoring tools with Artificial Intelligence for IT operations platform capabilities.
• [New] AI looks to contribute up to USD15.7 percent to the global economy by the end of 2030.
• [New] Over the next ten years, 1.2 billion employees worldwide will be affected by the adaptation of automation technologies and AI.
• [New] 14% of global CIOs have already deployed AI, and it's estimated that AI associated with CRM activities will boost global business revenue by $1.1 trillion by the end of 2021.
• [New] Due to AI regulation, various innovations are taking place in the European region, so Europe is expected to grow at the fastest pace in the coming years.
• [New] Just as electricity drove rapid growth in the early 20th century, AI and machine learning will be key to rebuilding the Australian and global economy in the next decade.
• [New] Worldwide spending on cognitive and AI systems will reach $77.6 billion in 2022, up from $24 billion in revenue last year.
• [New] The global AI market will reach $733.7 billion by 2027, growing at a CAGR (compound annual growth rate) of 42.2%.
• [New] By 2030, work hours spent on physical and manual skills and basic cognitive skills are expected to decrease by 14% and 15%, respectively.
• [New] As much as 14% of the global workforce would have to switch occupations or acquire new skills by 2030 because of automation and artificial intelligence.
• [New] The AI market in the retail segment is expected to grow by $14.05 billion during 2019-2023.
• [New] The IoT ML and AI market will reach US$ 1.09 billion in 2020 and grow to US$ 10.6 billion in 2026.
• [New] The value of AI in digital banking will reach some $300 billion by 2030 with the largest markets centered in the United States, Asia Pacific, and Europe.
• Worldwide spending on artificial intelligence (AI) is forecast to double over the coming for years to hit $110 billion by 2024.
• Artificial intelligence, machine learning and virtual assistants, chatbots: Gartner analysts forecast an increase from 25% to 37% (2020).
• The global AI software market is forecast to experience massive growth in the coming years, with revenues predicted to increase from around $10 billion U.S. dollars in 2018 to $126 billion in 2025.
• 71% of businesses intend to bring back workers furloughed during the COVID-19 pandemic, but 64% predict their organizations will replace 31% of their employees with artificial intelligence or positions in service to AI in the next two years.

Last updated: 28 October 2020