AI

DEMYSTIFIED
www.networkscience.ai

AI POWERS
FUTURE JULY 2024
INNOVATION VOLUME 1
WHAT ARE
BUSINESS
LEADERS
SAYING
ABOUT AI?
Business leaders say
AI is already changing
organizational
structure:
As AI transforms workplaces, companies
are revamping leadership structures.
While some centralize, assigning AI
oversight to existing executives (30%) or
creating dedicated AI leadership roles
(9%), others (32%) take a decentralized
approach, spreading AI oversight across
various departments.

Regardless of structure, communication

reigns supreme: many leaders are
proactively discussing AI's impact on
both the company and its workforce.

This highlights the diverse stages of AI

adoption, but underscores a common
thread - companies are making
leadership changes and actively
communicating about the AI-powered
future.
 THE SURVEY OF 142
RESPONDENTS —
CONSISTING OF
BOARD DIRECTORS,
C-SUITE MEMBERS
& HR EXECUTIVES

Nearly 20% said they’re thinking about

60% said they have or executive compensation incentives.

plan to develop a In addition, nearly one-third of

respondents said they’re talking with
change management their workforce about AI in general

strategy. terms.

While 24% are sharing thoughts about

how AI might affect the company’s
strategy and goals.
40% have made
Only 10% are specifically addressing
significant AI how AI may change the workforce plan
investments (hiring, or individual jobs.

consulting, software On the other hand, 22% said they’re not

currently evaluating AI.
licensing) in this year’s
budget or expect to 26% said they’re not talking about AI with
their workforce.
during the next fiscal
25% said they don’t believe AI adoption
year. will require a change management
strategy.
Industry AGI (Artificial General Intelligence) is

Opinions on a debated concept for AI that mimics

human-level ability across all tasks.

AGI
Sandeep
Hardikar,
Network Science

AI: Friend, Not Foe

Network Science experts see AI as a collaborator,
boosting creativity and productivity. Ethical
concerns exist, but responsible development can
unlock vast potential.
AI is already optimizing work and shaping a future
of intuitive, inclusive tech. Humans remain in
control, but a Deep Tech-ready workforce is key.

AI won't replace us, but it will supercharge our

capabilities.
Industry AGI (Artificial General Intelligence) is

Opinions on a debated concept for AI that mimics

human-level ability across all tasks.

AGI
Yann LeCun,
Meta

In an interaction with Time Magazine earlier this year,

Meta Chief AI scientist Yann LeCun had said that the
current LLMs powering AI chatbots are not on a path
towards AGI. He said, “It’s astonishing how [LLMs]
work, if you train them at scale, but it’s very limited.
We see today that those systems hallucinate, they
don't really understand the real world. They require
enormous amounts of data to reach a level of
intelligence that is not that great in the end. And they
can't really reason. They can't plan anything other
than things they’ve been trained on. So, they're not a
road towards what people call “AGI." I hate the term.
They're useful, there's no question. But they are not a
path towards human-level intelligence.
Industry AGI (Artificial General Intelligence) is

Opinions on a debated concept for AI that mimics

human-level ability across all tasks.

AGI
Sundar Pichai,
Google

In an interaction with the New York Times, Google CEO

Sundar Pichai had rejected the debate around AGI
while saying that the current systems are going to be
‘very very capable’ in the future. He said, “When is it
A.G.I.? What is it? How do you define it? When do we
get here? All those are good questions. But to me, it
almost doesn’t matter because it is so clear to me that
these systems are going to be very, very capable. And
so it almost doesn’t matter whether you reached A.G.I.
or not; you’re going to have systems which are capable
of delivering benefits at a scale we’ve never seen
before, and potentially causing real harm. Can we have
an A.I system which can cause disinformation at scale?
Yes. Is it A.G.I.? It really doesn’t matter.
Industry AGI (Artificial General Intelligence) is

Opinions on a debated concept for AI that mimics

human-level ability across all tasks.

AGI
Sam Altman,
OpenAI

OpenAI founder and CEO Sam Altman has been

amongst the prominent voices on the potential benefits
that AGI could cause to humanity. Speaking to Time
Magazine last year, he said, “I think AGI will be the most
powerful technology humanity has yet invented. If you
think about the cost of intelligence and the equality of
intelligence, the cost falling, the quality increasing by a
lot, and what people can do with that. It's a very
different world. It’s the world that sci-fi has promised us
for a long time—and for the first time, I think we could
start to see what that’s going to look like.
 AI Adoption by
Companies
Rate of AI Adoption in different
industries

58%

5
56%
50% 50%
47%

Statistics
You 20%

Should
Know 2017 2018 2019 2020 2021 2022

1
Businesses have been AI adoption in business, legal, and
adopting Artificial professional services: 48.4% of businesses
Intelligence (AI) to a great report measurable results.
extent to keep up with their

2
competition. As of 2023, AI Adoption Rate in Consumer
more than 80% of global Goods/Retail: Obtained 40% Adoption and
companies have reported Expected to Reach $45.74 Billion by 2032.
adopting AI to improve their

3
business operations. Market Revenue for AI Adoption Rate in
Financial Services Expected to Reach
Increased efficiency and $9.48 Billion in 2032.
automation are the driving

4
forces that urge businesses
The Adoption Rate of AI in Healthcare
to adopt AI. In fact, for 83% Increased Rapidly Due to COVID-19 and
of these companies, AI takes Was Valued at $15.4 Billion in 2022.
the top spot in their business

5
strategy, reshaping their
operations and gaining a AI adoption rate in High tech/Telecom is
competitive advantage. Valued at $1.45 billion in 2022.
 Overview of different
industries using AI in
their operations:
Product/ Strategy & Supply
Marketing Service Service Corporate Chain
HR Manufacturing & Sales Development Risk Operations Finance Management

ALL INDUSTRIES 11% 11% 11% 11% 11% 11% 11% 11%

PROFESSIONAL
SERVICES 11% 11% 11% 11% 11% 11% 11% 11%

RETAIL 14% 14% 14% 14% 14% 14% 14% 14%

FINANCIAL
SERVICES 1% 1% 1% 1% 1% 1% 1% 1%

HEALTHCARE 15% 15% 15% 15% 15% 15% 15% 15%

HIGH TECH 6% 6% 6% 6% 6% 6% 6% 6%
 FAQs on
Companies’ AI
Adoption Rates

What percentage of companies adopt AI?

More than 80% of companies have been adopting AI to
boost efficiency in their operations.

Which industries are adopting AI the most?

The financial services industries have become the most
significant global early adopters of AI solutions.

What is the adoption rate for AI business?

Approximately 35% of businesses adopted AI in 2022,
with a 4% growth from 2021. The growth rate is expected
to be even more significant by the end of 2023.

Which company is using AI the most?

Amazon is the leading user of AI, which integrates AI in
e-commerce, cloud computing, logistics, and more.
 How Much Are
Companies
Spending on AI?
In Billions

$246.1

$189.6

$146.7

$95.6
$79.6

$53.7
$33.8
$25.4
$19.0
$14.6

2017 2018 2019 2020 2021 2022 2019 2020 2021 2022

Global corporate investment in AI has increased

dramatically over the past decade. A Stanford University
analysis estimates the sum of assets and acquisitions
from minority stakes, private investments, and public
offerings totalled $934.2 billion from 2013 to 2022.
Recent investment peaked in 2021 at $276.1 billion with
the emergence of ChatGPT.
Discover
how many
and which
companies
are funding
and
investing in
AI
technology
The AI market size is projected to Big tech companies covered two-thirds of
increase by 154%. $27 billion in AI technology.
From 2018 to 2019, the AI market In 2023, tech giants secured two-thirds of
reached $14.7 billion—growing by 154%.
the $27 billion raised by emerging AI
Major companies like Amazon have
driven most of this growth, and the rest companies. The AI sector grew in 2021, but
are from startups. the industry needed capital and resources
Funding the growth of AI startups are from established tech companies to
companies like IntelCapital, which develop products and services.
invested in 51 AI ventures and the 500
Startups with 45. Other notable
The five tech companies that have invested
investors like Y Combinator have
backed 32 AI-centered startups. These the most in AI startups in 2023 are Amazon,
organizations are working on software Google, Microsoft, NVIDIA, and Salesforce.
that provides: Their commitment has been made directly
through the leading corporation or their
Natural language processing respective venture investing arms (e.g.,
• Machine learning Google Ventures, Microsoft’s M12, and
• Speech recognition
Salesforce Ventures).
• Developments that encompass AI
Discover
how many
and which
companies
are funding
and
investing in
AI
technology
OpenAI obtained the highest investment The US invested the most in AI, with
among AI startup companies. $328,548 billion.
Among the 100 most prominent AI start- Each country has invested in Artificial
ups, OpenAI sits at the top with $14 billion in
Intelligence, with the U.S. leading at $328.5
capital through partnerships with Microsoft
and other leading investments. Its potential billion over the last five years, followed by
market capitalization is estimated at China at $195 billion, and the UK at $25.5
around $80 billion. billion. Singapore spends the highest
percentage of its GDP on AI, with $15.01 per
Following OpenAI is Anthropic, which has $1,000 of GDP.
$4.2 billion in capital, and the big data
analysis platform Databricks ranks third
with approximately $4 billion. A Forbes survey found that 83% of
companies prioritize AI in their business
Decision-makers in companies like Amazon strategies, using tools like automated emails
and Google have begun promoting AI less and chatbots. Another survey by Digital
aggressively to their customers to set better Information World revealed that 87% plan to
expectations of what can be accomplished invest in AI in 2023. Among these, 48% aim to
while staying within budget.
streamline operations, 43% to boost
customer satisfaction, and 41% to enhance
organization.
Discover how many and
which companies are
funding and investing in
AI technology

AI is predicted to add $6 trillion to top AI investment surges to $142.3 billion in

three industries' GVA by 2035. 2023 due to growing startup funding and
The potential of AI in elevating business for corporate interest.
economic growth accounted for 1.7%. A
AI is taking a bite out of business budgets!
survey was conducted comparing 16
industries in a baseline and AI scenario by Global investment has skyrocketed from
2035. $92 billion in 2016 to a whopping $142.3
It revealed that information and billion in 2023. This funding surge, coupled
communication, manufacturing, and with a near-doubling of AI startup
financial services obtained the top GVA investments, fuels growth in key areas like
growth rates – 4.8%, 4.4%, and 4.3%,
machine learning, chatbots, and human-
respectively. This translates to an
additional $6 trillion GVA in 2035 for the machine interfaces. As businesses recognize
three sectors alone. AI's potential, expect funding to reach
trillions in the coming years.
Discover how many and
which companies are
funding and investing in
AI technology
62%

31%

4% 2% 2%
Machine Computer Autonomous Smart Virtual
Learning Vision Vehicles Robotics Agents

Machine Learning leads AI investments In Conclusion,

with 62% share. Investment in Artificial Intelligence has
Many companies use different types of AI in become rampant. AI's anticipated market
their operations. Among the types, machine
value of $200 billion by 2025 is a testament
learning obtained the highest investment—
with 62%. It holds a more significant gap in that more tech companies are investing and
second place, computer vision, with 31%. adopting AI for their business operation.
The growing preference for machine For businesses and professionals, embracing
learning reflects its broad utility to enhance AI technologies means staying ahead of the
tasks like data analysis and predictive curve and shining among competitors. AI's
modeling, which drives higher investments. continuous learning and adaptability are
Most companies prioritize machine learning
vital to thriving in the modern business
for its potential to deliver substantial
returns on investment through improved environment.
efficiencies and innovation.