AI Usage Quadrupled in 2023, According to Collins
AI has seen a significant increase in usage this year, with usage quadrupling compared to previous years, according to the publisher Collins. Managing Director Alex Beecroft stated that AI has been the focal point of discussions in 2023, as it has rapidly become an integral part of our daily lives, much like email and streaming technology.
When asked about being named the “word of the year” by Collins Dictionary, the AI chatbot ChatGPT commented on the profound impact of Artificial Intelligence on our ever-evolving world. The selection of AI as the word of the year reflects the influence of algorithms and data in driving innovation and transformation.
In related news, India, along with 27 other countries, signed a declaration to collaborate on evaluating the risks associated with AI. The declaration was made during the AI Safety Summit 2023 at the historic Bletchley Park in the UK.
Furthermore, a new report has forecasted that the market value of AI is expected to reach nearly $450 billion this year. The report, from the International Data Corporation, indicates that global revenues for the AI market, including software, hardware, and services, grew by 20.7% to reach $383.3 billion in 2021. This growth is predicted to continue in the next five years.
The rise in AI usage and its growing market value highlight the significance of AI in various industries and its potential for future advancements. As AI continues to shape our world, its impact on innovation and transformation becomes increasingly evident.
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