May 30, 2024

Artificial intelligence (AI), also known as generative AI, is the latest AI hype.

Generative AI, also known as machine learning, is a technology that uses natural-language processing algorithms, generative adversarial networks, and other techniques to create text, images, and code. It can even produce music.

Some examples of this technology include ChatGPT DALL-E and Jasper.ai.

This post contains the most important generative AI statistics published on the internet.

By 2028, the global market for generative AI will be worth $51.8 billion.

According to Markets and Markets research, the global market for generative AI will be $11.3 billion in 2023 and reach $51.8 billion in 2028.

This is a 35.6% CAGR increase from year to year.

The research included more than 35 companies that are AI-based or who have invested in AI in one form or another.

The report covered six regions, but most of the companies analyzed are located in the United States.

The AI industry and venture capitalists will not only maintain their AI expenditure but also increase it.

The funding for AI software that generates new ideas will soon reach $10.68 billion.

Pitchfork collected data that shows the funding for software companies developing generative AI tools from big tech and venture capital firms will soon reach $10.68 Billion.

Microsoft announced its intention to invest $10 Billion in OpenAI, the company that created ChatGPT.

The average round of funding per company in the first quarter of 2023 was $1.69 billion.

55% of marketers using generative AI for content creation use ChatGPT

The fertile AI industry is growing rapidly, and there are many tools available. ChatGPT is most popular with marketers.

Botco’s survey of 1,000 marketing professionals revealed that 73% used generative AI for content creation.

All three of the top 3 AI-based writing tools are.

Remember that Botco, a chatbot based on generative AI, is not to be taken lightly. Their audience is predisposed to adopt generative AI. The results of their survey will, therefore, be biased when compared with the global market.

In June 2023, interest in generative AI will be at its peak worldwide

Google Trends data shows that the interest in “generative AI” worldwide is at its peak in June 2023.

The interest in ChatGPT skyrocketed following its release on November 30th, 2022.

Singapore has the highest level of interest, followed by China (97), Hong Kong (62), Israel (55) and South Korea (41).

The United States ranks 6th on the list, with an interest rate of 35.

The United States reached a peak in interest in this subject in early June, but it is now beginning to decline slowly.

Yale students correctly identified AI-generated artwork only 54% percent of the time

504 Yale students completed a survey where they were asked whether nine pieces of art had been produced by humans or artificial intelligence.

The undergraduates could only correctly identify AI-generated artwork 54% of the time.

This is five correct guesses from nine.

Only 38% of consumers believe AI art is ethical.

Big Village surveyed different generations to find out their opinions on AI-generated art.

Only 38% of consumers believe that AI art is ethical.

The millennial generation is the most likely to adopt AI art, as 48% believe that AI art is ethical.

The next generation is Gen Z (39%), followed by Gen X (37%) and baby boomers (28%).

In relation to AI-generated artwork, 58.25% of consumers express concern about their privacy.

56.25% of respondents believe AI art will be relevant until late 2023.

The most popular images created using generative AI tools are those that have a 69% adoption rate.

Botco’s data on the adoption rate of generative AI techniques reveals that 69% of marketers have adopted generative AI to create images.

The following are the adoption rates of other generative AI technologies:

Text creation – 58% of marketers use productive AI tools to create text.

64% of executives are urged to adopt generative artificial intelligence

Google surveyed 50 technology and business leaders.

Only 4% of respondents felt their organization had the skills necessary to adopt generative AI.

According to 62% of respondents, their organization “lacks the most critical skills needed to execute its AI strategy.”

66% of marketers who adopt AI in their organizations see a positive ROI

Botco’s study revealed that 66% of marketers who implemented AI experienced a positive ROI (return on investment).

43% of respondents saw a two-fold ROI, while 22% saw a three-fold ROI.

Only 7% saw a negative return on investment.

58% of marketers adopting AI report an increase in performance

Botco asked 1,000 marketers to describe the benefits of using generative AI.

Performance was the biggest benefit. 58% of marketers said that their organizations experienced this benefit following AI adoption.

The majority of respondents (50%) reported an increase in their variety of content, while 50% experienced cost savings and 47% had faster creative cycles.

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