The Latest Ai In The Blockchain Industry Statistics Explained
According to the International Data Corporation, worldwide spending on blockchain solutions is expected to reach $15.9 billion by 2023. AI is one of the key technologies driving this growth.
The statistic from the International Data Corporation indicating that global spending on blockchain solutions is projected to reach $15.9 billion by 2023 suggests a significant upward trend in investment and adoption of blockchain technology worldwide. The growth is largely driven by key technologies such as artificial intelligence (AI), which are playing a pivotal role in advancing blockchain capabilities and applications across various industries. This highlights the increasing recognition of the value and potential benefits that blockchain offers in terms of security, transparency, and efficiency, leading to substantial investment in leveraging these technologies for business innovation and advancement in the coming years.
A PwC survey revealed that 55% of businesses in their survey are implementing blockchain technology into their operations. AI plays a big role in managing and leveraging this technology.
The statistic from the PwC survey indicating that 55% of businesses are integrating blockchain technology into their operations highlights a growing trend in the adoption of blockchain across various industries. The incorporation of artificial intelligence (AI) in managing and optimizing this technology emphasizes the importance of advanced technologies working in tandem to enhance operational efficiency and decision-making processes. The synergy between blockchain and AI showcases the potential for businesses to leverage innovative solutions for data management, security, and automation, ultimately driving digital transformation and competitive advantage in the marketplace.
91% of tech industry leaders are convinced that AI and blockchain will have a crucial role in the future, according to the Thales Group survey.
The statistic indicates that a substantial majority, specifically 91%, of technology industry leaders believe that both artificial intelligence (AI) and blockchain technology will play vital roles in shaping the future of their industry. This finding is derived from a survey conducted by the Thales Group, suggesting a high level of consensus and confidence among key decision-makers in the tech sector regarding the transformative potential of AI and blockchain technologies. It highlights the prevailing sentiment among industry leaders that these innovative technologies will be fundamental drivers of progress, innovation, and disruption in the tech landscape, underlining the importance of staying abreast of these developments to remain competitive and relevant in the rapidly evolving technological landscape.
According to WinterGreen Research, blockchain spending in IoT will increase from $174M in 2018 to $3,021M by 2024. AI is integral to managing and enhancing this IoT blockchain data.
The statistic from WinterGreen Research highlights a significant growth projection in blockchain spending within the Internet of Things (IoT) industry, forecasted to rise from $174 million in 2018 to $3.021 billion by 2024. This exponential growth is driven by the increasing adoption of blockchain technology in the IoT sector, which offers enhanced security and data management capabilities. Additionally, the statement emphasizes the crucial role of artificial intelligence (AI) in effectively managing and optimizing the vast amounts of data generated by IoT devices using blockchain technology. The integration of AI with blockchain in IoT applications holds immense potential for improving data processing, enabling automation, and unlocking innovative solutions in various industries.
A PRNewswire report anticipates that the AI in blockchain market will reach $703.4 million by 2023, growing at a CAGR of 107%.
The statistic provided states that a PRNewswire report forecasts the AI in blockchain market to reach $703.4 million by the year 2023, with a Compound Annual Growth Rate (CAGR) of 107%. This implies that the market for artificial intelligence applications within the blockchain industry is projected to experience a rapid and substantial increase over the specified time frame, more than doubling each year on average. Such a high growth rate indicates significant market opportunities and potential for businesses operating in this sector, highlighting the growing importance and adoption of AI technologies in blockchain applications over the next few years.
Artificial Intelligence (AI) and Blockchain companies received $18.4 billion in funding in Q1 of 2018, according to Outlier Ventures’ report.
The statistic that Artificial Intelligence (AI) and Blockchain companies received $18.4 billion in funding in Q1 of 2018, as reported by Outlier Ventures, highlights the substantial investment flowing into these emerging technologies during the first quarter of that year. This substantial funding figure underscores the growing interest and confidence from investors in the potential of AI and Blockchain technologies to drive innovation and disrupt traditional industries. The significant amount of funding also indicates the perceived value and potential for growth in companies operating in these sectors, signaling a positive outlook for the future development and adoption of AI and Blockchain technologies in various industries.
By 2022, blockchain-based businesses will spend $2.9 billion on AI technology, as per a Statista report.
The statistic indicates that blockchain-based businesses are projected to invest a total of $2.9 billion in artificial intelligence (AI) technology by the year 2022, based on a report from Statista. This suggests a significant focus on integrating AI into blockchain operations for various applications such as enhancing security, improving data analytics, and optimizing operational efficiency. The substantial financial commitment reflects the potential benefits and opportunities that blockchain and AI technologies offer when combined, demonstrating a strategic approach by businesses to leverage cutting-edge technological advancements for growth and innovation in the upcoming year.
The AI in blockchain market was valued at $228 million in 2020 and is expected to reach $13.6 billion by 2028, as reported by Emergen Research.
The statistic provided highlights the projected growth of the artificial intelligence (AI) in blockchain market over the timeframe from 2020 to 2028. In 2020, the market was valued at $228 million, indicating its relatively nascent stage. However, the forecast suggests a substantial growth trajectory for the industry, with an expected value of $13.6 billion by 2028, as reported by Emergen Research. This implies a significant increase in market size over the eight-year period, reflecting the increasing adoption and integration of AI technology within the blockchain sector. This trend underscores the growing importance and potential of AI in enhancing blockchain capabilities and driving innovation within the industry.
The number of blockchain IoT projects and initiatives worldwide is forecast to reach 1,395 by 2030, most of which will be AI-enhanced according to IHS Markit.
The statistic indicates that the number of blockchain Internet of Things (IoT) projects and initiatives globally is projected to grow to 1,395 by the year 2030, with a significant portion of these initiatives incorporating artificial intelligence (AI) capabilities. This forecast suggests a growing trend towards integrating blockchain technology with IoT applications, leveraging the capabilities of AI to enhance the functionality and efficiency of these projects. The data from IHS Markit highlights the increasing intersection of blockchain, IoT, and AI technologies, signaling a shift towards more advanced and interconnected systems in various industries and sectors worldwide over the next decade.
With the techniques of AI, the speed of blockchain network can be increased by 50% as revealed by IBM.
The statistic means that IBM has utilized artificial intelligence (AI) techniques to successfully enhance the speed of blockchain networks by 50%. This improvement could potentially result in faster transaction processing and increased overall efficiency in blockchain operations. By leveraging AI, IBM has likely developed algorithms or strategies that optimize the network’s performance, enabling it to handle a greater volume of transactions in a shorter period of time. This advancement could have significant implications for industries relying on blockchain technology, such as finance, supply chain management, and healthcare, by enabling quicker and more reliable data transactions.
About 49% of global businesses believe they will need to invest in blockchain integrated with AI to achieve their strategic objectives, according to a KPMG report.
The statistic indicates that a significant portion, approximately 49%, of the global business community recognizes the importance of investing in blockchain technology integrated with artificial intelligence (AI) to effectively achieve their strategic objectives. This finding, as reported by KPMG, suggests a growing awareness among businesses of the potential benefits of leveraging blockchain and AI capabilities in tandem. Such investments may enable organizations to enhance operational efficiency, increase transparency, and unlock new opportunities for innovation and growth in an increasingly digitized and interconnected business landscape.
Nearly 60% of businesses plan to use blockchain research, often AI-enabled, to assess product quality and compliance by 2024.
The statistic indicates that a significant portion, almost 60%, of businesses are expected to incorporate blockchain technology, often integrated with artificial intelligence, by 2024 for assessing product quality and compliance. This suggests a growing trend towards leveraging cutting-edge technologies to enhance processes related to quality control and regulatory compliance within business operations. By utilizing blockchain’s immutable and transparent ledger capabilities along with AI’s analytical power, businesses aim to improve the efficiency and accuracy of evaluating product quality and ensuring adherence to regulatory standards. This statistic highlights the increasing adoption of innovative technology solutions in the corporate sector to drive improvements in product management and regulatory compliance processes.
According to Research and Markets, the AI in blockchain market in North America was valued at $57.6 million in 2019 and is expected to reach $1,329.5 million by 2027.
The statistic indicates that the AI in blockchain market in North America has experienced significant growth, with a value of $57.6 million in 2019 and a projected value of $1,329.5 million by 2027. This represents a substantial increase over the timeframe, highlighting the increasing adoption and investment in artificial intelligence technologies within the blockchain industry in North America. The strong growth trajectory suggests a growing interest in leveraging AI capabilities to enhance blockchain applications and solutions, indicating a promising future for the convergence of these technologies in the region.
A survey from Accenture states that 84% of executives believe they must leverage AI to achieve their growth objectives, many of which include blockchain solutions.
The statistic from Accenture’s survey suggests a strong belief among executives that leveraging artificial intelligence (AI) is crucial for achieving their growth objectives. Specifically, 84% of the executives surveyed expressed this belief. Furthermore, a significant number of these growth objectives involve the implementation of blockchain solutions, indicating a growing trend towards adopting innovative technologies to drive business growth. This statistic highlights the increasing recognition among business leaders of the importance of AI and blockchain in enhancing operational efficiency, enabling strategic decision-making, and ultimately driving business success in today’s rapidly evolving digital landscape.
Conclusion
Throughout this blog post, we have explored the role of AI in the blockchain industry and delved into the relevant statistics. It is evident that the integration of AI technology is rapidly transforming and enhancing various aspects of the blockchain sector. With AI-powered solutions creating more efficient processes, improving security measures, and enabling innovative use cases, the future of blockchain holds immense promise. As these technologies continue to evolve and intersect, collaboration between the AI and blockchain communities will be key to unlocking their full potential. The statistics presented here serve as a testament to the growing impact and opportunities that lie ahead in this dynamic and groundbreaking field.
References
0. – https://www.www.statista.com
1. – https://www.www.emergenresearch.com
2. – https://www.outlierventures.io
3. – https://www.www.researchandmarkets.com
4. – https://www.wintergreenresearch.com
5. – https://www.deloitte.wsj.com
6. – https://www.www.ibm.com
7. – https://www.home.kpmg
8. – https://www.www.accenture.com
9. – https://www.www.thalesgroup.com
10. – https://www.www.idc.com
11. – https://www.www.pwc.com
12. – https://www.www.prnewswire.com
13. – https://www.www.ihsmarkit.com
