AI adoption is on the rise, but who uses it and for what?

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A visual guide to AI adoption by industry

As more and more businesses pour resources into artificial intelligence, its myriad applications are beginning to be employed by the global workforce—and at a significant pace.

In this graphic, the second of a three-part series Digital evolution A series sponsored by Global X ETFs, we will explore AI adoption statistics and discuss the impact of AI technology on today’s workforce.

Who uses AI?

According to a recent survey, an impressive 50% Organizations report using AI tools for at least one function in their operations. But as we look deeper, the power of AI as a customizable and multifaceted tool becomes clear:

Generative AI programs such as DALL-E, Bard and ChatGPT have also been adopted by a significant number of people. In particular, OpenAI’s ChatGPT boasts 100 million users and over a billion monthly hits.

Finance is at the forefront of AI adoption

The finance industry is at the forefront of AI adoption. Used to manage complex risk challenges, AI algorithms can analyze large amounts of data in real time, enabling timely detection of fraud and market fluctuations.

As a result, AI technology has proven to be a game changer in the risk space. A survey by McKinsey found that 48% of risk professionals reported some increase in revenue as a direct result of AI adoption. In addition, 43% of respondents reported a reduction in costs, as AI streamlines processes, automates repetitive tasks and reduces the margin for error.

The job market responds

The rise in AI adoption has created a demand for AI-skilled professionals in the US

Area (US)AI Job Posting (2021)AI Job Posting (2022)
IT4.9%5.3%
Professional services3.9%4.1%
Finance and Insurance2.9%3.3%
product2.9%3.3%
agriculture1.7%1.6%

Notably, the top three sectors with the highest demand for AI talent are IT (5.3% of all job postings), professional, scientific and technical services (4.1%), and finance and insurance (3.3%). This trend suggests that these are the industries where AI can make the biggest difference.

The transformative power of AI

AI adoption has reached a critical milestone, with half of the organizations surveyed using AI tools to optimize their operations in some form. But this is only a shadow of AI’s true potential. In the third and final part of Digital evolution series, we will explore the pinnacle of AI as we know it today – Artificial Intelligence of Things (AIoT)..

With AIQ by Global X ETFs, investors can participate in this dynamic market and tap into AI-driven growth potential. With the global AI evolution underway, there’s never been a better time to start your AI investment journey.

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