AI Adoption by industry
08/07/2019
As with any new disruptive technology, Artificial Intelligence won't be uniformly adopted. It will be a better fit in certain sectors and for businesses of a particular type. This infographic looks at AI adoption in different market sectors across all applications.
HIGH TECH
- US $200-300 billion of positive impact
- Tech giants expanding into other verticals such as finance, entertainment, commerce
Source: McKinsey 2018.
HEALTHCARE
- US$2-10tn of impact of data- driven personalised healthcare1
- #1 end market for AI venture investments2
1 Source: McKinsey 2016.
2 Source: CB Insights.
2 Source: CB Insights.
PROFESSIONAL SERVICES (Finance, Insurance)
- US$400-600bn of positive impact on financial services3
- Up to 8X increase in productivity4
- US$2.4tn total addressable market for alternative lending5
- 80% of institutional investors interested in alternative data6
3,4 Source: McKinsey 2018.
5 Source: Ernst & Young 2016.
6 Source: Eagle Alpha.
5 Source: Ernst & Young 2016.
6 Source: Eagle Alpha.
INDUSTRIALS & MANUFACTURING
- US$933bn Industrial Internet of Things (IIoT) market by 20257
7 Source: Grand View Research.
TELCO & MEDIA
- US$100-200bn of positive impact on the telecommunications industry
- US$100-200bn of positive impact on the media & entertainment industry
Source: McKinsey 2018.
TRANSPORTATION & LOGISTICS
- US$1.5tn market by 2030 for robo-taxis8
- US$450-750bn market for data-enabled services9
- US$720-920bn in positive economic value unlocked10
8,9,10 Source: McKinsey 2018.
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Summary
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