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Read more…Artificial intelligence (AI) statistics: Usage, market size and projected growth
The latest statistics on artificial intelligence, including current market value, growth and popular opinion.
Artificial intelligence (AI) is a hot topic at the moment, and those with a mind for investing might even be looking at AI stocks on their trading apps. We take a look at the latest AI industry statistics, including the current market size, projected growth and how many people are currently using AI.
Quick overview
- The UK AI market is estimated to be worth £16.6 billion in 2023.
- The AI market is projected to grow to £790.4 billion by 2035.
- The UK AI market is currently the third largest in the world.
- The UK government has so far invested £3.2 billion in the AI sector.
- 13% of businesses in the UK are aware of using some form of AI.
- Only 27% of people in the UK feel negatively about AI.
- 46% of adults under 35 years old have used ChatGPT.
- 1 in 5 (18.5%) people would consider using ChatGPT for financial advice.
AI market size and projected growth
The UK AI market is estimated to be worth £16.6 billion in 2023 and is projected to grow to £790.4 billion by 2035. The UK AI market is currently the third-largest in the world, beaten only by the US and China.
In 2022, in preparation for the enormous growth of AI, the UK government outlined a package of £1 billion to support the sector. This extra help follows a previous investment of £2.2 billion, for a total investment of £3.2 billion.
| Year | Estimated AI market size (in billions) |
|---|---|
| 2023 | £16.6 |
| 2025 | £31.6 |
| 2027 | £60.0 |
| 2029 | £114.2 |
| 2031 | £240.5 |
| 2033 | £455.3 |
| 2035 | £790.4 |
How many companies use AI?
An estimated 13% of businesses in the UK currently use some form of AI, whilst around 1 in 6 (16%) are planning to use AI, according to the latest research. That means approximately 715,000 businesses already use AI and 880,000 businesses are planning to use AI in the future.
The most commonly cited reasons for using AI are improvements in cybersecurity and efficiency. When it comes to how companies are implementing AI, spam filters took the top spot with 11%, followed by chatbots at 4% and facial recognition at 3%.
| Industry | Improving cybersecurity | Create efficiencies to reduce costs or increase productivity | Provide a more personalised service to customers | Developing a new product of service | Other |
|---|---|---|---|---|---|
| Manufacturing | 51% | 29% | 8% | 11% | 19% |
| Construction | 53% | 23% | 27% | 9% | 14% |
| Wholesale and retail trade; repair of motor vehicles and motorcycles | 31% | 35% | 34% | 14% | 11% |
| Accommodation and food service activities | 21% | 44% | 32% | 16% | 18% |
| Information and communication | 44% | 43% | 26% | 29% | 13% |
| Professional, scientific and technical activities | 40% | 45% | 16% | 20% | 12% |
| Administrative and support service activities | 35% | 27% | 31% | 9% | 9% |
How many people use AI?
Around 51% of those aged 16-29 use AI daily, while 59% of 30- to 49-year-olds use it every day. Those aged 30 to 49 use AI the most, with 52% reporting a little daily usage and 7% a lot of daily usage.
Usage is lower among older people, with 49% of people aged 50 to 69 and 32% of those aged 70 and over using AI daily. Unsurprisingly, the vast majority (68%) of those aged 70 and over report no daily AI usage.
| Daily AI Usage | Aged 16 to 29 | Aged 30 to 49 | Aged 50 to 69 | Aged 70 and over |
|---|---|---|---|---|
| Not at all | 49% | 41% | 51% | 68% |
| A little | 45% | 52% | 45% | 30% |
| A lot | 5% | 7% | 4% | 2% |
How many people use ChatGPT?
As of June 2023, ChatGPT has more than 100 million users. According to external research, 46% of adults under 35 years old have used ChatGPT.
Interestingly, our survey found that 38% of people still don't know about ChatGPT, suggesting that knowledge of popular forms of AI is still limited in the UK.
However, AI is not limited to generative text models. Its applications have been widespread in the UK. If you have spoken to a chatbot, used Alexa or Siri or had your email sort your spam folder, you have likely used AI.
How do people feel about AI?
According to research, 41% of people feel positive about AI, 27% feel negative about AI and around a third (32%) feel neutral about AI. However, 6% of those with negative opinions feel very strongly about it, compared to 5% of those with positive opinions. Nonetheless, around 3 in 4 (73%) feel neutral or positive about AI.
| Feeling about AI | Percentage |
|---|---|
| Very negative | 6% |
| 1 | 2% |
| 2 | 6% |
| 3 | 6% |
| 4 | 7% |
| 5 | 32% |
| 6 | 12% |
| 7 | 11% |
| 8 | 11% |
| 9 | 2% |
| Very positive | 5% |
AI job loss predictions
It is unclear exactly how many jobs will be lost due to AI. However, the impact on the economy is significant. A recent report by Goldman Sachs estimates that as many as 300 million jobs will be replaced by AI globally.
On the flip side, the same report estimates a potential 7% increase in global GDP, amounting to a staggering £5.55 trillion.
Recent research ranked the highest-paying professions that are likely to be AI-proof in the near future. These are:
- Oncologist
- Orthodontist
- Paediatrician
- Judge
- Politician
Do people trust AI for financial advice?
According to our 2023 survey, less than 1 in 10 (8.1%) people have already used ChatGPT for financial advice. This number might grow in the future since around 1 in 5 (18.5%) people would consider using ChatGPT for financial advice.
However, nearly double that amount (35.4%) of all people said they would not consider using ChatGPT for financial advice.
| Opinion | Percentage |
|---|---|
| Yes, I would consider using it for financial advice. | 18.50% |
| I already have used it for financial advice. | 8.10% |
| No, I wouldn't consider using it for financial advice | 35.40% |
| I don't know what ChatGPT is | 38.00% |
Sources and methodology
- Finder commissioned Censuswide in 2023 to carry out a nationally representative survey of adults aged 18+. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.
- ONS
- International Trade Administration
Click here for more research. For all media enquiries, please contact
Matt Mckenna
UK Communications Manager
T: +44 20 8191 8806
UK Communications Manager
T: +44 20 8191 8806
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