Artificial Intelligence
AI-Enabled Imaging Solutions Market to Reach USD 10912.78 Million by 2030, Fuelled by Advancements in Healthcare Technology | Infinium Global Research
PUNE, India, Oct. 17, 2023 /PRNewswire/ — In a recent publication from Infinium Global Research, a detailed examination of the AI-enabled Imaging Solutions Market is presented, encompassing both global and regional perspectives. This report delves into the analysis of various segments and sub-segments while shedding light on how drivers, constraints, and macro indicators impact the AI-enabled imaging solutions market in both the short and long terms. Within this comprehensive report, you’ll find a thorough exploration of trends, forecasts, and the monetary values associated with the global AI-enabled imaging solutions market. Notably, the revenue generated by the AI-enabled imaging solutions market reached USD 1,906.95 million in 2022, and it is anticipated to reach USD 10,912.78 million by 2030, with a notable Compound Annual Growth Rate (CAGR) of 21.25% during the forecast period of 2022-2030.
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Revolutionizing Medical Imaging Through AI
AI-enabled Medical Imaging Solutions represent an innovative healthcare technology that incorporates Artificial Intelligence (AI) algorithms and machine learning techniques to revolutionize the acquisition, analysis, interpretation, and management of medical images. These cutting-edge solutions provide invaluable assistance to healthcare professionals, especially radiologists and clinicians, across various aspects of medical imaging, diagnosis, and patient care.
Leveraging the capabilities of AI and machine learning, these solutions enhance image quality, eliminate distortions, amplify intricate details, and rectify flaws—critical in medical imaging, where accurate diagnosis hinges on precise and high-quality images. AI’s power lies in its ability to facilitate early detection and diagnosis of diseases, including cancer, cardiovascular conditions, and neurological disorders, by analyzing medical images like X-rays, MRIs, and CT scans. AI can discern subtle patterns and anomalies that may elude human radiologists. The scope of AI-enabled medical imaging solutions continues to expand, offering transformative potential to various facets of healthcare and medical imaging.
Driving Forces of AI-Enabled Imaging Solutions
Advancements in Artificial Intelligence (AI) and Machine Learning (ML) form the bedrock of market growth. Continuous progress in AI and ML algorithms has ushered in more precise image analysis, interpretation, and automation, underpinning the development of AI-enabled imaging solutions. The rising demand for automation and enhanced efficiency further drives market growth. Industries across sectors are increasingly seeking ways to automate tasks that involve visual data, optimizing efficiency, reducing errors, and minimizing operational costs. The proliferation of vast amounts of image and video data, often termed “big data,” serves as fertile ground for training and enhancing AI models. This data originates from diverse sources, including medical imaging, surveillance cameras, drones, and satellites.
However, maintaining data privacy and security remains a critical concern, particularly in medical imaging, which frequently involves sensitive patient information. AI-enabled medical imaging solutions are poised to offer myriad opportunities, from improving healthcare outcomes and efficiency to fostering innovation. By assisting radiologists and clinicians in identifying subtle abnormalities in medical images, these solutions can lead to earlier and more accurate diagnoses, ultimately resulting in enhanced patient outcomes and reduced healthcare costs through timely interventions.
North America Leads, Asia-Pacific Rises
North America is expected to maintain dominance in the AI-enabled imaging solutions market, propelled by factors such as its advanced healthcare infrastructure, substantial investments, robust research, and innovation ecosystem. Specifically, the United States and Canada boast highly developed healthcare systems replete with hospitals, medical centers, and diagnostic facilities ideally suited for AI-powered medical imaging solutions implementation. The region has witnessed significant investments in healthcare technology and artificial intelligence, with support from venture capital firms and government agencies, particularly in the context of medical imaging. Furthermore, North America is home to numerous prestigious research institutions, universities, and technology giants actively driving medical imaging research and pioneering AI algorithms and solutions designed to enhance diagnoses and patient care.
Meanwhile, the Asia-Pacific region is experiencing rapid growth in the AI-enabled medical imaging solutions market. With a significant portion of the world’s population residing here, this region presents an extensive and diverse patient pool ripe for the implementation of AI-enabled solutions to enhance healthcare access and efficiency. Moreover, the region grapples with a rising burden of diseases, including chronic conditions and cancer. AI-enabled medical imaging can play a pivotal role in addressing these healthcare challenges by providing faster and more accurate diagnoses and treatment recommendations.
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Segmentation Overview
The global AI-enabled imaging solutions market encompasses various key segments:
Offering:Software Tools/PlatformServicesImage Acquisition Technology:X-rayComputed TomographyMagnetic Resonance ImagingUltrasound ImagingMolecular ImagingEnd User:HospitalsClinicsResearch Laboratories & Diagnostic CentersCybersecurityTechnology:Machine LearningNatural Language ProcessingContext-Aware ComputingComputer VisionCompetitive Landscape:
The report provides profiles of the companies in the market such as Arterys, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE HealthCare, IBM Watson Health (is now Merative), IMAGEN, Lunit Inc., Quibim, Aidoc, and EnvoyAI (acquired by TeraRecon).
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Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. AI-enabled Imaging Solutions Market Highlights
2.2. AI-enabled Imaging Solutions Market Projection
2.3. AI-enabled Imaging Solutions Market Regional Highlights
Chapter 3. Global AI-enabled Imaging Solutions Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Porter`s Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Offering
3.4.2. IGR-Growth Matrix Analysis by Image Acquisition Technology
3.4.3. IGR-Growth Matrix Analysis by End User
3.4.4. IGR-Growth Matrix Analysis by Technology
3.4.5. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of AI-enabled Imaging Solutions Market
Chapter 4. AI-enabled Imaging Solutions Market Macro Indicator Analysis
Chapter 5. Company Profiles and Competitive Landscape
5.1. Competitive Landscape in the Global AI-enabled Imaging Solutions Market
5.2. Companies Profiles
5.2.1. Arterys
5.2.2. Siemens Healthcare GmbH
5.2.3. Koninklijke Philips N.V.
5.2.4. GE HealthCare
5.2.5. IBM Watson Health (is now Merative)
5.2.6. IMAGEN
5.2.7. Lunit Inc.
5.2.8. Quibim
5.2.9. Aidoc
5.2.10. EnvoyAI (acquired by TeraRecon)
Chapter 6. Global AI-enabled Imaging Solutions Market by Offering
6.1. Software Tools/Platform
6.2. Services
Chapter 7. Global AI-enabled Imaging Solutions Market by Image Acquisition Technology
7.1. X-ray
7.2. Computed Tomography
7.3. Magnetic Resonance Imaging
7.4. Ultrasound Imaging
7.5. Molecular Imaging
Chapter 8. Global AI-enabled Imaging Solutions Market by End User
8.1. Hospitals
8.2. Clinics
8.3. Research Laboratories & Diagnostic Centers
8.4. Cybersecurity
Chapter 9. Global AI-enabled Imaging Solutions Market by Technology
9.1. Machine Learning
9.2. Natural Language Processing
9.3. Context-aware Computing
9.4. Computer Vision
Chapter 10. Global AI-enabled Imaging Solutions Market by Region 2023-2030
10.1. North America
10.1.1. North America AI-enabled Imaging Solutions Market by Offering
10.1.2. North America AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.3. North America AI-enabled Imaging Solutions Market by End User
10.1.4. North America AI-enabled Imaging Solutions Market by Technology
10.1.5. North America AI-enabled Imaging Solutions Market by Country
10.1.5.1. The U.S. AI-enabled Imaging Solutions Market
10.1.5.1.1. The U.S. AI-enabled Imaging Solutions Market by Offering
10.1.5.1.2. The U.S. AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.5.1.3. The U.S. AI-enabled Imaging Solutions Market by End User
10.1.5.1.4. The U.S. AI-enabled Imaging Solutions Market by Technology
10.1.5.2. Canada AI-enabled Imaging Solutions Market
10.1.5.2.1. Canada AI-enabled Imaging Solutions Market by Offering
10.1.5.2.2. Canada AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.5.2.3. Canada AI-enabled Imaging Solutions Market by End User
10.1.5.2.4. Canada AI-enabled Imaging Solutions Market by Technology
10.1.5.3. Mexico AI-enabled Imaging Solutions Market
10.1.5.3.1. Mexico AI-enabled Imaging Solutions Market by Offering
10.1.5.3.2. Mexico AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.1.5.3.3. Mexico AI-enabled Imaging Solutions Market by End User
10.1.5.3.4. Mexico AI-enabled Imaging Solutions Market by Technology
10.2. Europe
10.2.1. Europe AI-enabled Imaging Solutions Market by Offering
10.2.2. Europe AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.3. Europe AI-enabled Imaging Solutions Market by End User
10.2.4. Europe AI-enabled Imaging Solutions Market by Technology
10.2.5. Europe AI-enabled Imaging Solutions Market by Country
10.2.5.1. Germany AI-enabled Imaging Solutions Market
10.2.5.1.1. Germany AI-enabled Imaging Solutions Market by Offering
10.2.5.1.2. Germany AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.1.3. Germany AI-enabled Imaging Solutions Market by End User
10.2.5.1.4. Germany AI-enabled Imaging Solutions Market by Technology
10.2.5.2. United Kingdom AI-enabled Imaging Solutions Market
10.2.5.2.1. United Kingdom AI-enabled Imaging Solutions Market by Offering
10.2.5.2.2. United Kingdom AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.2.3. United Kingdom AI-enabled Imaging Solutions Market by End User
10.2.5.2.4. United Kingdom AI-enabled Imaging Solutions Market by Technology
10.2.5.3. France AI-enabled Imaging Solutions Market
10.2.5.3.1. France AI-enabled Imaging Solutions Market by Offering
10.2.5.3.2. France AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.3.3. France AI-enabled Imaging Solutions Market by End User
10.2.5.3.4. France AI-enabled Imaging Solutions Market by Technology
10.2.5.4. Italy AI-enabled Imaging Solutions Market
10.2.5.4.1. Italy AI-enabled Imaging Solutions Market by Offering
10.2.5.4.2. Italy AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.4.3. Italy AI-enabled Imaging Solutions Market by End User
10.2.5.4.4. Italy AI-enabled Imaging Solutions Market by Technology
10.2.5.5. Rest of Europe AI-enabled Imaging Solutions Market
10.2.5.5.1. Rest of Europe AI-enabled Imaging Solutions Market by Offering
10.2.5.5.2. Rest of Europe AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.2.5.5.3. Rest of Europe AI-enabled Imaging Solutions Market by End User
10.2.5.5.4. Rest of Europe AI-enabled Imaging Solutions Market by Technology
10.3. Asia Pacific
10.3.1. Asia Pacific AI-enabled Imaging Solutions Market by Offering
10.3.2. Asia Pacific AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.3. Asia Pacific AI-enabled Imaging Solutions Market by End User
10.3.4. Asia Pacific AI-enabled Imaging Solutions Market by Technology
10.3.5. Asia Pacific AI-enabled Imaging Solutions Market by Country
10.3.5.1. China AI-enabled Imaging Solutions Market
10.3.5.1.1. China AI-enabled Imaging Solutions Market by Offering
10.3.5.1.2. China AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.1.3. China AI-enabled Imaging Solutions Market by End User
10.3.5.1.4. China AI-enabled Imaging Solutions Market by Technology
10.3.5.2. Japan AI-enabled Imaging Solutions Market
10.3.5.2.1. Japan AI-enabled Imaging Solutions Market by Offering
10.3.5.2.2. Japan AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.2.3. Japan AI-enabled Imaging Solutions Market by End User
10.3.5.2.4. Japan AI-enabled Imaging Solutions Market by Technology
10.3.5.3. India AI-enabled Imaging Solutions Market
10.3.5.3.1. India AI-enabled Imaging Solutions Market by Offering
10.3.5.3.2. India AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.3.3. India AI-enabled Imaging Solutions Market by End User
10.3.5.3.4. India AI-enabled Imaging Solutions Market by Technology
10.3.5.4. South Korea AI-enabled Imaging Solutions Market
10.3.5.4.1. South Korea AI-enabled Imaging Solutions Market by Offering
10.3.5.4.2. South Korea AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.4.3. South Korea AI-enabled Imaging Solutions Market by End User
10.3.5.4.4. South Korea AI-enabled Imaging Solutions Market by Technology
10.3.5.5. Australia AI-enabled Imaging Solutions Market
10.3.5.5.1. Australia AI-enabled Imaging Solutions Market by Offering
10.3.5.5.2. Australia AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.5.3. Australia AI-enabled Imaging Solutions Market by End User
10.3.5.5.4. Australia AI-enabled Imaging Solutions Market by Technology
10.3.5.6. Rest of Asia-Pacific AI-enabled Imaging Solutions Market
10.3.5.6.1. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by Offering
10.3.5.6.2. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.3.5.6.3. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by End User
10.3.5.6.4. Rest of Asia-Pacific AI-enabled Imaging Solutions Market by Technology
10.4. RoW
10.4.1. RoW AI-enabled Imaging Solutions Market by Offering
10.4.2. RoW AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.3. RoW AI-enabled Imaging Solutions Market by End User
10.4.4. RoW AI-enabled Imaging Solutions Market by Technology
10.4.5. RoW AI-enabled Imaging Solutions Market by Sub-region
10.4.5.1. Latin America AI-enabled Imaging Solutions Market
10.4.5.1.1. Latin America AI-enabled Imaging Solutions Market by Offering
10.4.5.1.2. Latin America AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.5.1.3. Latin America AI-enabled Imaging Solutions Market by End User
10.4.5.1.4. Latin America AI-enabled Imaging Solutions Market by Technology
10.4.5.2. Middle East AI-enabled Imaging Solutions Market
10.4.5.2.1. Middle East AI-enabled Imaging Solutions Market by Offering
10.4.5.2.2. Middle East AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.5.2.3. Middle East AI-enabled Imaging Solutions Market by End User
10.4.5.2.4. Middle East AI-enabled Imaging Solutions Market by Technology
10.4.5.3. Africa AI-enabled Imaging Solutions Market
10.4.5.3.1. Africa AI-enabled Imaging Solutions Market by Offering
10.4.5.3.2. Africa AI-enabled Imaging Solutions Market by Image Acquisition Technology
10.4.5.3.3. Africa AI-enabled Imaging Solutions Market by End User
10.4.5.3.4. Africa AI-enabled Imaging Solutions Market by Technology
As AI continues to redefine the landscape of medical imaging, providing unparalleled insights, enhancing efficiency, and fostering innovation, its transformative potential within healthcare is set to revolutionize the global industry. For a comprehensive analysis of specific segments, emerging market trends, competitive dynamics, and growth prospects, please refer to the full research report.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of AI-enabled imaging solutions.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
About Infinium Global Research:
Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.
Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.
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ADELAIDE, Australia, May 21, 2024 /PRNewswire/ — Amp Energy (“Amp” or the “Company”) announced today it has finalised all required commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of the leading green hydrogen, green ammonia and advanced fuel projects in Australia. The agreements, which were executed with Iron Road Ltd, include the purchase of a 630-hectare parcel of land at Cape Hardy as well as finalised royalty structure and common user infrastructure agreement. Amp will continue to build upon development progress made since announcing the Strategic Framework Agreement with Iron Road Ltd in April 2023 to bring advanced fuel production capacity to Cape Hardy.
The Cape Hardy Advanced Fuels Precinct will provide production at scale with up to 10 GW of planned electrolyser capacity. Development will be structured to initially bring 1 GW online with incremental stages to reach 10 GW of total capacity. The project will both cater to the domestic Australian market, supporting the Australian Government’s net zero goals, while also featuring global export capabilities. To facilitate distribution, Cape Hardy will be equipped with Australia’s first purpose-built advanced fuels export terminal.
Amp has been in discussions to develop the Cape Hardy Advanced Fuels precinct, in collaboration with Iron Road Ltd and The Government of South Australia, for the past two years. During that time, Amp has made significant development progress. The project’s concept, design, and pre-Front End Engineering Design (FEED) phase have been studied and reviewed by two leading global engineering firms, Arup and Technip Technologies, as Amp targets completion of pre-FEED studies for the first 1 GW electrolyser phase over the next 9 months. FEED scoping and contracting is currently underway ahead of awarding the FEED contract in late 2024 or early 2025.
Desalinated water is to be sourced from the recently announced Northern Water Supply (NWS) seawater desalination plant that will be located at Cape Hardy to meet the project’s demand for electrolyser feed water, cooling water, process plant water, and fire water. Amp is co-funding pre-FID expenditures for the NWS project.
Additionally, Amp is working closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”). With continued support from the BDAC, Amp is confident the Cape Hardy Advanced Fuels Precinct will have a meaningful economic impact on the region. Amp currently estimates this will include approximately 4,000 direct and 6,000 indirect jobs for the first gigawatt of electrolyser capacity alone.
“We are seeing growing demand for Advanced Fuels both in Australia and abroad. This includes green ammonia, liquid hydrogen, methanol, and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will allow for large-scale production of these fuels that will be critical to the energy transition and achieving net zero targets. We could not be more excited about the project’s potential impact, and we are grateful for the partnership and continued support from Iron Road Ltd, the South Australian Government and BDAC as we progress full steam ahead on development” said Paul Ezekiel, Amp President and Co-founder.
Minister for Trade and Investment, Joe Szakacs said “The State Government recognises the strategic importance of the Cape Hardy Advanced Fuels Precinct attracting investment into the state for domestic and export opportunities, as there is an increasing flight to quality for hydrogen projects worldwide.”
About AmpAmp Energy is a global energy transition development platform, which delivers renewables, battery storage, Advanced Fuels and green AI data centers at scale, together with proprietary AI-enabled grid flexibility through its Amp X platform. Since its inception 15 years ago, Amp has developed and built or contracted 14 GW of assets globally. Amp is backed by major investments from institutional capital partners including global private equity firm the Carlyle Group, who has invested over US$440 million. The company has global operations throughout North America, the UK, Australia, Japan, and Spain.
For more information, please visit amp.energy
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TAIPEI, May 21, 2024 /PRNewswire/ — The GEEKOM A8, a highly anticipated Next-Gen AI mini PC with an AMD HawkPoint Ryzen 8040 processor, is now available.
The A8 employs a metal housing with rounded corners and anodized matte finish, giving it a gorgeous and stylish look. Having a footprint smaller than the palm of a hand, the mini PC will conveniently fit in all types of desktop arrangement and instantly elevate the aesthetics of any workspace.
There are two variants of the GEEKOM A8, users have the option to choose between two processors from the same AMD HawkPoint family: Ryzen 7 8845HS and Ryzen 9 8945HS. Both chips feature 8 Zen 4 CPU cores, 16 threads, 16MB L3 cache, an AMD Radeon 780M integrated GPU as well as a Ryzen AI Engine NPU, but the Ryzen 9 8945HS is designed to offer slightly better performance, thanks to its higher CPU and GPU frequencies.
With a greatly enhanced NPU, the A8 can execute 60% more AI workloads than mini PCs with last-generation Ryzen 7040 chips, allowing users to embrace a new era of AI computing. For average consumers, the A8 will quickly find answers to all questions and turn texts into images and videos. For business users, the A8 will automatically summarize notes, transcribe calls, and take meeting minutes. For professional content creators, the A8 will bring much faster AI-powered photo editing, quicker video output, and speedier multi-tasking, helping bring the most ambitious ideas to life. With the new IceBlast 1.5 cooling technology, the A8 can stay cool and stable even when tasks are loaded.
Besides its powerful performance, the A8 also offers a wide array of ports, including four USB-A (including three USB3.2 Gen2), two HDMI2.0, a 40Gbps USB4, a multi-function Type-C, an SDXC slot, and a 3.5mm audio jack. Users can choose to connect the mini PC to an eGPU, ultra high-speed portable storage, or up to four 4K displays.
The A8 is now available on GEEKOM’s independent website. The 8845HS and 8945HS variants are priced at €799 and €949 respectively. Regardless of the CPU option, each unit is preinstalled with 32GB dual-channel SO-DIMM DDR5-5600 RAM, a fast 1TB M.2 2280 PCIe4.0*4 SSD, a wireless card that supports WiFi 7 and Bluetooth 5.4, and a licensed copy of Windows 11 operating system.
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Artificial Intelligence
AI-exposed sectors experience productivity surge as AI jobs climb and see up to 25% wage premium: PwC 2024 Global AI Jobs Barometer
Sectors more exposed to AI are experiencing almost fivefold (4.8x) greater labour productivity growth (‘AI exposed’ means AI can readily be used for some tasks)Postings for AI jobs are growing 3.5x faster than for all jobs. For every AI job posting in 2012, there are now seven job postingsJobs that require AI skills carry up to a 25% wage premium in some marketsAI-driven spike in productivity could allow many nations to break out of persistent low productivity growth, generating economic development, higher wages, and enhanced living standardsSkills sought by employers are changing at a 25% higher rate in occupations most exposed to AI. To stay relevant in these occupations, workers will need to demonstrate or acquire new skillsLONDON, May 21, 2024 /PRNewswire/ — Sectors more exposed to AI are experiencing almost five times (4.8x) higher growth in labour productivity, according to PwC’s inaugural 2024 Global AI Jobs Barometer, published today.
The report, which analysed over half a billion job ads from 15 countries, suggests that AI could allow many nations to break out of persistent low productivity growth, generating economic development, higher wages, and enhanced living standards.
The report finds that for every job posting requiring AI specialist skills (i.e., machine learning) in 2012, there are now seven job postings.[1] PwC research also finds that growth in jobs demanding AI skills has outpaced all jobs since 2016, with postings for jobs requiring AI skills growing 3.5x faster than for all jobs.
The findings also highlight economic opportunity for labour forces: jobs that require AI skills carry up to a 25% average wage premium in some markets.
Skills sought by employers are changing much faster in occupations more exposed to AI, with old skills disappearing – and new skills appearing – in job ads at a 25% higher rate than in occupations less exposed to AI. To stay relevant in these occupations, workers will need to demonstrate or acquire new skills.
As questions abound around the technology’s impact on everything from job security to long-term business viability, the findings highlight positive news, even for workers in sectors most exposed to AI. The findings also reflect a good news story for workers and the global economy in which AI-enabled workers are more productive and more valuable, opening the door to rising prosperity for workers and nations.
Carol Stubbings, Global Markets and Tax & Legal Services (TLS) Leader, PwC UK, says:
“AI is transforming the labour market globally and presents good news for a global economy hindered by deep economic challenges and concerns around long-term business viability. For many economies experiencing labour shortages and low productivity growth, the findings highlight optimism around AI with the technology representing an opportunity for economic development, job-creation, and the creation of new industries entirely. However, the findings show that workers will need to build new skills and organisations will need to invest in their AI strategies and people if they are to turbocharge their development and ensure they are fit for the AI age.”
Near fivefold productivity growth in sectors more exposed to AI
The findings paint a positive picture of the impact of AI on labour markets and productivity. Sectors most exposed to AI – financial services, information technology, and professional services – are experiencing nearly five times higher labour productivity growth than sectors less exposed to AI.[2]
Jobs that require AI skills carry significant wage premiums
Across the five major labour markets for which wage data is available (US, UK, Canada, Australia and Singapore), jobs that require AI specialist skills carry a significant wage premium (up to 25% on average in the US), underlining the value of these skills to companies. Across industries (in the US for example), this can range from 18% for accountants, 33% for financial analysts, 43% for sales and marketing managers, to 49% for lawyers. While the wage premium differs by market, overwhelmingly this is higher in all markets analysed.
AI penetration is accelerating, particularly in knowledge work sectors
The study finds that knowledge work sectors are seeing the most rapid growth in the share of roles requiring AI skills. This includes financial services (2.8x higher share of jobs requiring AI skills vs other sectors), professional services (3x higher), and information & communication (5x higher).[3]
No going back to yesterday’s jobs markets: the skills building imperative
Companies, workers, and policymakers share responsibility for helping workers build the skills to succeed in a fast-changing jobs market. Skills demanded by employers in occupations more exposed to AI are changing at a 25% higher rate than in less exposed occupations. 69% of CEOs expect AI will require new skills from their workforce, rising to 87% of CEOs who have already deployed AI, according to PwC’s 27th Annual Global CEO Survey 2024.
Pete Brown, Global Workforce Leader, PwC UK, adds:
“Businesses and governments around the world will need to ensure they are adequately investing in the skills required for both their people and organisations if they are to thrive in a global economy and labour market being transformed by AI. Equally, there is tremendous opportunity for people, organisations, and economies with expertise in new and emerging technologies such as AI. Ensuring a skills-first approach to recruitment as well as continued investment in workforce upskilling is imperative as no industry or market will remain immune to the impact of AI’s technological and economic transformation.”
Scott Likens, Global AI and Innovation Technology Leader, PwC US, concluded:
“AI provides much more than efficiency gains. AI offers fundamentally new ways of creating value. In our work with clients, we see companies using AI to amplify the value their people can deliver. We don’t have enough software developers, doctors, or scientists to create all the code, healthcare, and scientific breakthroughs the world needs. There is a nearly limitless demand for many things if we can improve our ability to deliver them – and limitless opportunity for organisations and individuals that invest in learning and applying the technology.”
Notes to Editors:
About the PwC 2024 Global AI Jobs Barometer
PwC’s new Global AI Jobs Barometer uses half a billion job ads from 15 countries to examine AI’s impact on jobs, skills, wages, and productivity. Analysing data from the past decade and across a large number of sectors, the report provides insight on AI job penetration, salary premiums, vacancy rates and more. The report will be presented at the VivaTech Summit in Paris by PwC global leaders.
About PwC
© 2024 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see http://www.pwc.com/structure for further details.
[1] Refers to six of the fifteen countries analysed: US, UK, Singapore, Australia, Canada and New Zealand.[2] Due to the availability of OECD data, PwC analysis focused on just these six sectors profiled for the period 2018-2022 (2023 data has not yet been released).[3] Other sectors include: Agriculture, Mining, Power, Water, Retail Trade, Transportation, Accomodation, Real Estate, Administrative, Arts and Entertainment, Household Activities, Construction, Manufacturing, Education and Social Activities and ExtraCurricular Activities.
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