A report by McKinsey published in December 2022 found that AI adoption by organisations has more than doubled since 2017, with 50–60% of organizations using some form of AI tool in their operations.
2. Retail robots rising in number
The World Economic Forum reported in early December 2022 that approximately 40% of the retail sector is currently automated by AI, with a rise to 60–65% expected in the next three to four years. Overall sales of service robots rose 37%, with the retail sector proving to be a significant driver for this demand.
3. Government-funded AI transport innovation
A government initiative first publicised in mid-December 2022 is set to divide a total of £1.85 million among AI startups to optimise transport systems. The initiative aims to help foster a greener future for transport in the UK, as well as to create jobs in the sector.
4. AI to help reduce UK’s carbon emissions
On Tuesday 22 November 2022, the UK government launched a £1.5 million innovation programme supporting the use of AI in the reduction of national carbon emissions. The programme – called the AI for Decarbonisation Programme – is a part of the £1 billion Net Zero Innovation Portfolio, which aims to apply technology to reduce the UK’s carbon footprint.
5. Market predictions for AI engineering
A report published in October 2022 by Global Market Insights predicts that the AI engineering market, currently valued at $18 billion (USD) globally, will grow at a 35% CAGR from 2023 to 2032, reaching an estimated $70 billion.
6. Market predictions for generative AI
A report published by Precedence Research in December 2022 estimates that the global generative AI market size will grow from $10.79 billion in 2022 to around $118.06 billion in 2032, at a 27.02% CAGR. The report also showed that the North America region is leading the market, capturing more than a 41% revenue share in 2022.