Published
12 mins ago
on
September 13, 2023
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By
Alan Kennedy
Graphics & Design
- Sabrina Fortin
- Athul Alexander
- Jennifer West
The following content is sponsored by Global X ETFs
A Visual Guide to AI Adoption, by Industry
As more and more businesses pour resources into artificial intelligence, its multitude of applications are beginning to be employed by the global workforce—and at a significant pace.
In this graphic, the second in the three-part Digital Evolution series sponsored by Global X ETFs, we’ll 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% of organizations report using AI tools for at least one function within their operations. But as we look deeper, the power of AI as a customizable and multi-faceted tool becomes apparent:
| HR | Production | Marketing | Product | Risk | Service Ops | Corporate Finance | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| All Industries | 11% | 8% | 5% | 10% | 19% | 19% | 21% | 9% |
| Professional Services | 11% | 10% | 9% | 8% | 16% | 20% | 19% | 12% |
| Retail | 14% | 4% | 3% | 4% | 15% | 31% | 29% | 11% |
| Financial Services | 1% | 8% | 7% | 31% | 17% | 24% | 23% | 2% |
| Healthcare | 15% | 7% | 2% | 4% | 22% | 12% | 8% | 8% |
| High Tech | 6% | 6% | 4% | 7% | 38% | 21% | 25% | 8% |
Generative AI programs such as DALL-E, Bard, and ChatGPT have also been adopted by significant number of people. In particular, OpenAI’s ChatGPT boasts 100 million users and over a billion monthly hits.
Finance Leads the Way in AI Adoption
The finance industry has become the frontrunner in AI adoption. Used to manage complex risk challenges, AI algorithms can analyze vast amounts of data in real time, enabling timely detection of fraud and market fluctuations.
Consequently, AI technology has proven to be a game-changer within the risk space. A survey conducted by McKinsey indicates that 48% of professionals in the risk space reported some form of revenue increase as a direct result of AI adoption. Additionally, 43% of respondents reported a decrease 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 U.S. In this table, we can see AI job postings as a percentage of overall job postings in the U.S. between 2021 and 2022:
| Sector (U.S.) | AI Job Postings (2021) | AI Job Postings (2022) |
|---|---|---|
| IT | 4.9% | 5.3% |
| Professional Services | 3.9% | 4.1% |
| Finance and Insurance | 2.9% | 3.3% |
| Manufacturing | 2.9% | 3.3% |
| Agriculture | 1.7% | 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 surveyed organizations leveraging AI tools to optimize their operations in some form. But this is a mere shadow of AI’s true potential. In the third and final part of the Digital Evolution series, we will explore the apex of AI as we know it today—the artificial intelligence of things.
With AIQ by Global X ETFs, investors can participate in this dynamic market and harness the potential of AI-driven growth. As the global AI evolution continues, there has never been a better time to embark on your AI investment journey.
Start investing today with Global X ETFs.
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Related Topics: #Global workforce #job market #Global X ETFs #generative ai #chatgpt #risk #industry adoption #artificial intelligence #ai #etfs #workforce
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