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  • Writer's pictureIQONIC.AI

Against the Odds: AI as a Market Trend in Spite of Economic Crisis

The AI hype is still young, but the industry has proven to be particularly resilient. AI technologies are increasingly being used in a wide range of businesses to improve efficiency and productivity. At the same time, the demand for such solutions is increasing, especially in times of crisis when resources and personnel are scarce.

Meta is one of the companies driving this trend. It has reached an important milestone on its way to the metaverse: With the support of NVIDIA, a new AI supercomputer – the AI Research SuperCluster – has been built to set new standards in artificial intelligence. Meta explains that longer and larger videos uploaded to Facebook now have to be scanned for dangerous content, which in turn places more demands on the underlying technology. That is why they needed this kind of soft- and hardware.

But why invest in AI during the economic crisis?

Strong Growth Potential

  • AI is transforming various industries, reaching an annual growth rate of 37.3% between 2023 and 2030.

  • AI is expected to contribute a significant net increase of 21% to US GDP by 2030

  • ChatGPT had 1 million users within the first five days of its launch

  • 50% of mobile users in the US use voice search every day

Increasing Productivity through AI

  • According to a Forbes Advisor survey, 64% of companies believe that artificial intelligence will increase their productivity.

  • Also with labor shortages on the rise, companies are turning to the introduction of AI to tackle this problem. AI helps companies to optimize processes and compensate for staff shortages. 

  • On the other hand AI is expected to create around 97 million new jobs worldwide, potentially countering concerns about labor displacement. 

The current economic crisis has hit many industries hard, but some have proved resilient. In particular, the beauty, health and AI sectors have been relatively unaffected. People are always looking for ways to feel and look good, which keeps this industry stable. The combination of AI with beauty and health will enable personalized solutions that are tailored to the individual needs of customers and patients. This intersection can help strengthen these industries and make them even more resilient to future crises. Good news for IQONIC.AI!

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