Demand for AI tech grows 500% in 12 months amid huge ChatGPT success

In a new wave of innovation, the global landscape of technology is experiencing a shift as artificial intelligence (AI) emerges as a new reality and is widely seen as an enhancer of human productivity. With the success of products such as ChatGPT, the demand for AI across different industries has skyrocketed over the past year. 

Specifically, data gathered by Finbold indicates that the global interest in the keyword ‘How to use AI‘ on Google Trends skyrocketed by 507% between August 2022 to August 2023. By the week ending on July 30, 2023, the keyword had garnered a popularity score of 85, contrasting with the value of 14 observed in the week ending on August 14, 2022. Notably, the peak popularity score of 100 was achieved during the June 11, 2023 week.

In the context of regional prominence, Singapore ranks top with a popularity score of 100, followed by Nigeria at 96. Meanwhile, China claims the third position with a score of 92. Occupying the fourth spot is Myanmar, with a popularity score of 86, while Ghana secured the fifth position with a score of 78.

Drivers of AI demand 

Several factors drive the demand for AI. Improved algorithms, increased computational power, and a wealth of data have converged to enable AI systems to evolve from novelties into sophisticated tools that can tackle complex problems, optimize processes, and enhance decision-making.

Increasing numbers of enterprises and individuals focus on AI to supplement human labor in specific operational domains. Businesses are harnessing the technology to gain a competitive edge, governments are utilizing it to improve public services, and researchers are leveraging its potential to unravel scientific mysteries. The paramount allure of AI lies in its scalability, offering virtually boundless potential. 

While temporal limitations inherently constrain human capability, AI can absorb an expansive array of knowledge. This capability enables AI systems to acquire and adapt to new skills and information, underscoring its intrinsic appeal. By offloading routine and repetitive tasks onto AI systems, human professionals can redirect their focus toward higher-level strategic endeavors that necessitate creativity, critical thinking, and decision-making.

Building on ChatGPT’s success

Elsewhere, the global demand for AI has also surged dramatically, propelled mainly by the proliferation of consumer-oriented generative AI programs like Google’s Bard and OpenAI’s ChatGPT. Tools like ChatGPT comes with a user-friendly interface and compatibility with multiple platforms, facilitating the integration of AI-powered solutions into everyday tasks. Notably, a report by Finbold highlighted that the demand for ChatGPT on Google reached an all-time high in January, with China emerging as a prominent source of interest.

The emergence of generative AI has also brought about a paradigm shift in the creative process, opening up novel avenues and prospects for both businesses and individuals. In response to the growing desire for personalized experiences, enterprises harness the power of generative AI technologies to craft tailor-made content that aligns with individual preferences. This includes generating individualized product recommendations, devising distinctive marketing campaigns, and designing interactive user interfaces.

Understanding regional dominance 

Looking at the demand from a regional standpoint, countries in the Asia-Pacific region prominently lead the rankings, with this region being widely regarded as one of the fastest-growing in the realm of AI. 

This projection is supported by increasing investments from various organizations aimed at embracing artificial intelligence, consequently fueling the desire for this technology. To illustrate, major internet companies in China are reportedly procuring high-performance Nvidia (NASDAQ: NVDA) chips, which are essential for constructing generative AI systems; these companies have collectively placed orders worth a substantial $5 billion.

Furthermore, proactive efforts are being made to facilitate AI adoption in regions like North America. This progress stems from a strong demand for cutting-edge hardware and software solutions encompassing various industries. Additionally, favorable government policies have played a crucial role in promoting the integration of AI within the region.

In general, the meteoric rise in demand for AI is not without its challenges. Ethical concerns surrounding bias in AI-generated content, potential job displacement, and the responsible use of AI require careful consideration. As the AI landscape matures, the collaborative effort to navigate these challenges will determine how society harnesses AI’s potential for collective benefit.

In this line, there are calls for collaboration among governments, businesses, academia, and civil society. This is essential to ensure that AI is developed and deployed responsibly, promoting transparency, fairness, and accountability.