Market Growth: Data Skill Assignment Sample

Folder A - Market Size Of Artificial Intelligence In Global Market In 2021 Forecasted Till 2030 (Million US Dollar)

Description of Key feature

The data is collected through the years. In 2021 it was 95602 million US dollars and for the upcoming ten years it is estimated that it would incline to 1847495 million dollars, which is a massive increase than as of 2021. In the current year by the end of 2nd quarter it is calculated that the 207902 million dollars which will jump into 298246 million dollars. Almost 44% hike than previous year. In 2022 the figure was 143319 million dollars and it increased by 64583 million dollars .These figures indicate that the market share of Artificial intelligence in worldwide platforms has increased to its zenith. In almost every sector is observing the usage of AI.

Explanation of key feature

Figure 1: Market size of AI

(Sources: https://www.forbes.com/sites/qai/2022/12/01/the-pros-and-cons-of-artificial-intelligence/?sh=3627aa147035)

The bar chart indicates the current and anticipated global market share of AI in various countries.

The above key features can be described in numerous ways. As the humans are more prone to error and tiredness grasp the human being after sitting a few hours in front of the computer. These matters encourage the usage of the AI in real life for every aspect of life. Researchers predict that the artificial intelligence (AI) sector will expand rapidly over the next ten years. Its present value is less than $100 billion US is predicted to expand thrice to just over $2 trillion US by 2030. The marketplace for AI encompasses a wide range of diverse businesses. With an annualized growth rate (CAGR) of 32.9% over 2022 and 2030, the revenue of the global AI market, which was anticipated to be around $ 95.60 billion in 2021. It is expected to increase to $ 1847.58 billion by 2030 (nextmsc.com, 2023).

Machine learning will be used in some form into organizational structures in a variety of domains, including networks of distribution, marketing, producing goods, studies, and evaluation. (Soni et al., 2020). Smartphone applications and Chabot’s, particularly those that use image-generating artificial intelligence will be among the major advancements pushing AI in the future years. Given its accessibility and social and economic implications, the question of whether the present advent of AI is merely hyperbole or genuinely has the potential to transform the globe is brought up (Hatzius, 2023). The study examines the many possible consequences of machine learning (AI) and explores the beneficial as well as adverse impacts on organizations, communities, and people. This discussion examines the total effects of AI, from development to application. The essay discusses the significant intellectual. AI advancements and breakthroughs, as well as how they affect entrepreneurship (Forbes.com, 2022).

Comment on reliability of the source

The source of the data is next move strategy counseling, an independent and dependable third-platform market intelligence supplier, is to supply MNC organizations with high-quality market research studies that will enable them to outperform rivals and increase market share. They conduct all kinds of primary, secondary, and data extraction studies. Aiming to inform policymakers, schoolwork, and people in general, its research is carried out by subject-matter specialists.

Folder B - UK inflation: Price hike in food items in the UK

Description of Key feature

The information points to an upward trend in food product sales or consumption during the previous 12 months in the UK, with several goods seeing large increases in popularity. In the UK, sales or consumption of olive oil climbed by 49.20% in the previous year, indicating a rising trend in consumer choice. Sales of sugar increased significantly by 42.10%, which may be linked to a number of variables including customer preferences or changes in the food business (Sky News, 2023). An increasing desire for better milk choices may be seen in the market for low-fat milk, which increased by 38.80% (ons.gov.uk, 2023). This sector saw a 33.70% growth in sales or use, indicating a surge in demand for cooking and flavoring items.

Figure 1: Product wise change of price in the UK

(Source: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/costoflivinginsights/food)

Explanation of key feature

Figure 1: Food price inflation quarter and year wise

(Source: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/costoflivinginsights/food)

A common approach for monitoring inflation is the “consumer price index (CPI)”, which tracks changes in consumer prices for a representative basket of products and services. In the 12 months leading up to June 2023, the cost of meals and non-alcoholic drinks increased by 17.4%. According to the Office for National Statistics, (2023) this was lower than the peak of 19.2% in the month of March which had been the greatest annual rate of inflation in more than 45 years, and from May's figure of 18.4%. Prices increased 0.4% during May and June of 2023 compared to 1.2% over the same time in 2022, which accounts for the current decrease. In the year ending in June 2023, prices at cafés and restaurants increased by 9.1%, compared to 9.3% in June and an all-time high of 11.4% in January. In the preceding two weeks, over half (48%) of British people reported they had purchased fewer items at the grocery store. Food price inflation in the country of England was 19.1% in March 2023, according to statistics. Before the costs of groceries began to rise for a sustained period of time again in the month of February, 2017. There was an extended period that continued deflationary from March of 2015 and January 2017. Food costs decreased between September of 2020 and June 2021, but then began to rise quickly from August 2021 through the first month of 2023 (ons.gov.uk, 2023).

Comment on reliability of the source

The data source of the graph is Office of the National Statistics of the UK. It is the official website of the UK Government. This site is the nation's renowned national statistical agency and the largest independent generator of government information in the UK also the help of Sky news is obtained for better comprehension.

Folder C - Estimated annual net migration from the EU to the UK, from 2012 to 2020.

Description of Key feature

Key features are Key EU-2: Bulgaria and Romania. EU-8: Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia. EU-14: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden. The years taken to analyze are 2012 to 2020. Brexit happened between 2016 and 2017, in this time estimated net migration of AII EU citizens was 282400 and in 2012 it was 193000. In the year 2020 it was 118900. Work was the primary motivation for 48% of EU residents coming to the UK during a minimum of twelve months in 2019 (the latest year in which information is available) (Vargas, and Rienzo, 2019). Of the 66 million individuals living in the UK as of 2020, it was predicted that 5% were born in the EU and 9% were not (migrationobservatory.ox.ac.uk, 2022). Thus, 37% of migrants were born in the EU in 2020, rather than 28% in 2004.

Explanation of key feature

Figure 1: Projected annual net migration to the UK

(Source: https://migrationobservatory.ox.ac.uk/resources/briefings/eu-migration-to-and-from-the-uk/)

The line graph illustrates the net migration from the EU to the UK from 2012 to 2020. Of the 66 million individuals living in the UK as of 2020, it was predicted that 5% were born in the EU and 9% were not (ons.gov.uk, 2023). Thus, 37% of migrants were born in the EU in 2020, rather than 28% in 2004. A total of 1.16 million individuals moved to the UK in 2022, of whom 557,000 left. This left an overall migration statistic of 606,000 people. Between 1964 until 1993, migration and departure rates from the UK were about equal, with immigration picking up dramatically from that point forward. The UK population has been growing mostly due to net migration since 1999, with fluctuations in nature (the variance in birth and mortality) contributing for a steadily decreasing portion of the population increase. The countries of Poland, Lithuania, Latvia, Hungary, Estonia, the Republic of Slovenia, Slovakia, and the Czech Republic (the "EU-8" nations), which joined the EU in 2004, were the main drivers of the fall in EU immigration and net migration from 2016 to 2020. The breakdown for various EU citizen categories is not included in the most current post-pandemic net migration figures. However, 81% of EU residents who were granted visas to enter the UK in the year ending September 2022 under the post-Brexit immigration system were from EU-14 nations like France, Spain, or Germany (numbers exclude transitory visitor, transit, short-term study, and frontier workers) (Düvell, 2020). This is in line with predictions indicating that the post-Brexit immigration strategy will have the most influence on immigration from Eastern Europe (migrationobservatory.ox.ac.uk, 2022).

Comment on reliability of resources

The "Migration policy and Net margin of immigration from EU to UK after brexit" is a reliable statistic since it is conducted by the "Office for National Statistics," which is the official statistics organization of the "United Kingdom." The poll follows strict data collecting and quality control processes and includes a significant, representative number of immigrants as participants. Additionally, information and sources were gathered from the Oxford University Migration Observatory's web pages.

Folder D - Internet users in the UK for aged 75 and above

Description of Key feature

According to government figures, the percentage of adults 75 and older who use the web has almost doubled in the previous seven years. In 2020, 6.3% of adults had never accessed the internet, which is a decrease of 7.5% in 2019. The percentage of handicapped adults who have recently used the internet rose from slightly more than ten million (78% of disabled individuals) in 2019 to almost 11 million (81% of disabled individuals) in 2020. Adults 75 years of age and older have consistently utilized the least amount of internet usage since the survey's inception in 2011. By 2019, 47% of all people aged 75 and over had just utilized the internet, up from 20% in 2011 (Marsh, 2021). Yet, the age group of 65 to 74 has lately increased their employment on the web from fifty-two percent in 2011 to eighty-three percent in 2019, closing the disparity with those in younger categories.

Explanation of key features

Figure 1: Usage of internet for age group 75 and above

(Source: https://www.theguardian.com/technology/2021/apr/06/britons-aged-75-and-over-using-internet-nearly-double-in-seven-years)

According to the age group, this statistic shows the findings of a poll on internet use in the nation of Britain (UK) in 2020. Survey participants at the age of 16 who used any gadget and connectivity type at any place to connect to the World Wide Web in 2020 had a 100% internet penetration rate (Theguardian.com, 2021). Only 70% of people 55 and older stated they went to the internet a year earlier. Due to the start of the coronavirus epidemic and subsequent government shutdowns throughout the globe, this clearly has altered since then. The proportion of persons 65 and older who never utilized the web has decreased by 29 basis points to 29% since 2011 (Prescott, 2019). When compared to adults aged 16 to 64, the reduction was 6 percentage points, or 2%. Since 2011, the number of retired persons who have recently used the web has climbed by 27 percentage points, reaching 67% in the year 2019, demonstrating the rise in internet use across older age groups (statista.com, 2022). People that were not economically active used the internet recently to a rise of 19 percent to 89%.

Comment on reliability of resources

The UK's Office for Statistics in the United Kingdom (ONS) is a renowned government body in charge of gathering and disseminating statistical data. A well-known portal for information and statistics, Statista compiles data from many sources. A renowned and reputable newspaper with headquarters in the UK is called The Guardian. Although it is mainly a news source, its technological section frequently covers statistics and developments relating to the web and technological advancements.

References

Folder A

Journal

• Hatzius, J., 2023. The Potentially Large Effects of Artificial Intelligence on Economic Growth (Briggs/Kodnani). Goldman Sachs.
• Soni, N., Sharma, E.K., Singh, N. and Kapoor, A., 2020. Artificial intelligence in business: from research and innovation to market deployment. Procedia Computer Science, 167, pp.2200-2210.

Websites

• Forbes.com, (2022) “The Pros and Cons of Artificial Intelligence,” Forbes, 1 December. Retrieved from: https://www.forbes.com/sites/qai/2022/12/01/the-pros-and-cons-of-artificial-intelligence/?sh=`3627aa147035. [Retrieved on: 12/7/2023]
• Nextmsc.com, (2023) Artificial Intelligence Market Size and Share | Analysis - 2030. Retrieved from: https://nextmsc.com/report/artificial-intelligence-market. [Retrieved on: 12/7/2023]

Folder B

Journal

• Barons, M.J. and Aspinall, W., 2020. Anticipated impacts of Brexit scenarios on UK food prices and implications for policies on poverty and health: a structured expert judgement approach. BMJ open, 10(3), p.e032376.

Websites

• Ons.gov.uk, (2023) www.ons.gov.uk [Preprint]. Retrieved from: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/costoflivinginsights/food. [Retrieved on: 12/7/2023]
• News.sky.com (2023) “UK inflation: Why are food prices rising so much?,” Sky News, 16 May. Retrieved from: https://news.sky.com/story/uk-inflation-why-are-food-prices-rising-so-much-12860884. [Retrieved on: 12/7/2023]

Folder C

Journal

• Düvell, F., 2020. Shifts in the global migration order and migration transitions in Europe: the cases of Turkey and Russia. Comparative migration studies, 8(1), pp.1-22.
• Vargas-Silva, C. and Rienzo, C., 2019. Migrants in the UK: an overview. Briefing Paper: Migration Observatory, University of Oxford.

Websites

• Migrationobservatory.ox.ac.uk, (2022). Retrieve from: https://migrationobservatory.ox.ac.uk/resources/briefings/eu-migration-to-and-from-the-uk/. [Retrieved on: 12/7/2023]
• Home - Office for National Statistics (2023). Retrieve from: https://ons.gov.uk/. [Retrieved on: 12/7/2023]

Folder D

Websites

• Theguardian.com, (2021) “Britons aged 75 and over using internet nearly double in seven years,” The Guardian, 7 April. Retrieve from: https://www.theguardian.com/technology/2021/apr/06/britons-aged-75-and-over-using-internet-nearly-double-in-seven-years [Retrieved on: 12/7/2023]
• Ons.gov.uk, (2019) “Internet users, UK - Office for National Statistics,” www.ons.gov.uk [Preprint]. Retrieve from: https://ons.gov.uk/businessindustryandtrade/itandinternetindustry/bulletins/internetusers/2019. [Retrieved on: 12/7/2023]
• Statista.com, (2022) Internet usage in the United Kingdom (UK) 2020, by age group. Retrieve from: https://statista.com/statistics/707890/internet-usage-in-the-united-kingdom-by-age-group/. [Retrieved on: 12/7/2023]