GoLocalProv | News | RI Health Insurance Companies Requesting Rate Increases of 20% to 28%
GoLocalProv | News | RI Health Insurance Companies Requesting Rate Increases of 20% to 28%

GoLocalProv | News | RI Health Insurance Companies Requesting Rate Increases of 20% to 28%

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Diverging Reports Breakdown

Costs of Caring

Hospitals are struggling to maintain access to essential services amid workforce shortages, supply chain disruptions, tariffs and policy decisions that often fail to reflect on-the-ground realities. Total compensation and related expenses now account for 56% of total hospital costs. Medicare reimbursement continues to lag behind inflation, resulting in over $100 billion in underpayments, according to AHA analysis of AHA Annual Survey data. Rising hospital costs are increasingly driven by higher utilization and acuity, especially among patients with chronic conditions. The average age of plant — a measure of the age of hospital infrastructure — has risen by more than 10% over the last two years, says industry benchmark data from Strata Decision Technology, LLC. This trend suggests that hospitals are increasingly unable to reinvest in critical physical assets, such as medical equipment, operating rooms and facility upgrades, says the AHA report. The report outlines the key trends impacting hospital financial stability in 2025, including labor and supply chain pressures and the impact of chronic disease burden on hospitals.

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Introduction

America’s hospitals and health systems are the cornerstone of the nation’s health care system, providing life-saving care to millions of patients each year. However, hospitals face a perfect storm of financial pressures: persistent cost growth, inadequate reimbursement, and shifting care patterns driven by both policy changes and an older, sicker population with more complex, chronic conditions. Hospitals are struggling to maintain access to essential services amid workforce shortages, supply chain disruptions, tariffs and policy decisions that often fail to reflect on-the-ground realities.

This report outlines the key trends impacting hospital financial stability in 2025.

Hospital Expenses Have Surged and Remain Elevated

Labor Costs Dominate Hospital Expenses

Hospitals are among the few sectors that consistently employ a highly educated, highly paid workforce — anchoring local economies with middle- and high-skill jobs that cannot be outsourced or automated. Consequently — and despite growth in drug spending and other fast-rising non-labor costs — labor remains the single largest category of hospital spending. Total compensation and related expenses now account for 56% of total hospital costs (see Figure 1). Amid ongoing workforce shortages, hospitals offer competitive wages to retain and recruit staff. According to AHA analysis of Lightcast data, advertised salaries for registered nurses have grown 26.6% faster than the rate of inflation over the past four years. These increases are essential to maintain staffing levels but also contribute to the overall financial challenges hospitals face.

Medicare and Medicaid Reimbursements Are Not Keeping Up With the Cost of Caring

Despite escalating expenses, Medicare reimbursement continues to lag behind inflation — covering just 83 cents for every dollar spent by hospitals in 2023, resulting in over $100 billion in underpayments, according to AHA analysis of AHA Annual Survey data. From 2022 to 2024, general inflation rose by 14.1%, while Medicare net inpatient payment rates increased by only 5.1% — amounting to an effective payment cut over the past three years (see Figure 2).

The AHA estimates that this erosion in payment value due to inflation resulted in $8.4 billion in lost hospital revenue during that period, further straining hospitals’ ability to care for Medicare beneficiaries, who make up a large share of most hospitals’ patients. In total, hospitals absorbed $130 billion in underpayments from Medicare and Medicaid in 2023 alone. These shortfalls are worsening — growing on average 14% annually between 2019 and 2023.

Hospital Expenses are Growing Faster Than Inflation

Specifically, in 2024 alone, total hospital expense grew 5.1%, significantly outpacing the overall inflation rate of 2.9%. Though expense growth has started to slow in 2025, it remains elevated — particularly in areas driven by labor and supply chain pressures. Persistent expense growth threatens hospitals’ solvency and their ability to sustain comprehensive services in the communities they serve. A telling indicator of this strain is the average age of plant — a measure of the age of hospital infrastructure — which has risen by more than 10% over the last two years, according to industry benchmark data from Strata Decision Technology, LLC. This trend suggests that hospitals are increasingly unable to reinvest in critical physical assets, such as medical equipment, operating rooms and facility upgrades. Delayed capital improvements not only jeopardize care quality but also hinder hospitals’ ability to keep pace with evolving health care standards and technology.

Impact of Chronic Disease Burden Costs Driven by Increased Utilization

Rising hospital costs are increasingly driven by higher utilization and acuity, especially among patients with chronic conditions. According to the Centers for Medicare & Medicaid Services (CMS), recent growth in spending on hospitals reflects increased service intensity and use.1 For example, emergency department (ED) visits related to heart failure increased 126.7% per capita between 2010 and 2019 (see Figure 3), with associated spending growing 177.2%. Similar patterns are observed for type 2 diabetes and acute renal failure — some of the costliest conditions in terms of patient health and resource use. These trends underscore the demand-side pressures fueling cost growth.

The Growing Impact of Medicare Advantage on Hospital Finances

Observation Stays Are Increasing in Duration

Medicare Advantage (MA) plans have long relied on extended observation stays to avoid admitting patients as inpatients — a strategy that helps plans reduce costs but shifts financial burden onto hospitals. Recent data show that this practice is worsening. In 2019, MA patients had observation stays 28.6% longer than those in Traditional Medicare; by 2024, the gap widened to 36.9% (see Figure 4). These prolonged observation stays drive up hospital costs without a corresponding increase in reimbursement, further straining hospital finances. Compared to inpatient admissions, observation stays are reimbursed at lower rates — or in some cases, not at all — leaving hospitals to absorb much of the cost. In 2024, MA plans reimbursed just 49% of the actual cost for patients held in observation status, according to industry benchmark data from Strata Decision Technology, LLC.

Longer Stays, Lower Payments

The inpatient setting reveals a similar pattern: longer stays for MA patients but with lower reimbursement. From 2019 to 2024, the average length of stay for MA patients grew substantially compared to Traditional Medicare — more than doubling the gap over this period, according to industry benchmark data from Strata Decision Technology, LLC. Yet during the same timeframe, hospital reimbursement from MA plans fell by 8.8% on a cost basis. In other words, hospitals are being asked to do more with less.

Discharge Delays Are Compounding the Problem

Delays in discharging patients to post-acute care facilities are a growing contributor to longer inpatient stays. These delays are often driven by prior authorization requirements or insufficient post-acute provider networks within MA plans. Among MA patients, the average length of stay prior to discharge to post-acute care has doubled relative to Traditional Medicare between 2019 and 2024 (see Figure 5). These delays lead to higher costs, increased hospital crowding — including in the emergency department — and longer lengths of stay. In some cases, plans may use these delays to steer patients toward lower-cost care settings — or avoid post-acute care altogether — while the hospital continues to absorb the cost of care. A Senate Permanent Subcommittee report recently found that some MA plans disproportionately imposed prior authorization and claim denials on post-acute care, exacerbating delays and shifting costs to hospitals.2 Post-acute care providers also have faced lagging reimbursement rates from Medicare, which has exacerbated staffing challenges and made it difficult to accommodate discharge requests from acute-care hospitals.

Lower Reimbursement and Increasing Administrative Burden

Hospitals are increasingly reporting lower negotiated MA rates than Traditional Medicare for many common inpatient services (see Figure 6). These discrepancies continue to create significant financial challenges for hospitals, especially for those in rural areas that have seen relatively fast growth in the volume of MA beneficiaries in recent years.3

At the same time, administrative complexity continues to increase. MA plans issued nearly 50 million prior authorizations in 2023 — up more than 40% since 2020, according to KFF.4 A Premier study found that hospitals spent $26 billion in 2023 managing insurance claims — a 23% increase over the previous year.5

Notably, 70% of denied claims were eventually paid, but only after multiple costly reviews. These burdens not only strain hospitals financially but also delay care and divert clinical staff from patient care. A Morning Consult survey commissioned by the AHA found that 85% of clinicians report that prior authorization and other requirements delay necessary care.

Impact of Tariffs on Hospital Costs

Hospitals and health systems rely on the right medicines, devices and other supplies used at the right time to support the delivery of safe and effective care. The supply chain for these essential medical goods is complex, weaving together both domestic and international sourcing, and is prone to significant disruption. For example, as of March 2025, there were 270 active drug shortages in the U.S., including shortages of life-saving intravenous (IV) fluids stemming from Hurricane Helene in 2024.6 Recent changes in U.S. trade policy are creating additional uncertainty, with the Administration implementing new tariffs that affect medical devices and supplies, and considering new tariffs on pharmaceuticals. Tariffs on these critical goods could exacerbate shortages, disrupt patient care and raise costs for hospitals.

Despite efforts to bolster the domestic supply chain, a significant proportion of essential medical goods come from international sources. For example, nearly 70% of medical devices marketed in the U.S. are manufactured exclusively overseas.7 In 2024 alone, the U.S. imported over $75 billion in medical devices and supplies, according to AHA analysis of Census Bureau data. These imports include many lowmargin, high-use essentials in hospital settings — such as syringes, needles, blood pressure cuffs, and IV saline bags. Hospitals rely on imports for advanced surgical tools and other critical technologies as well.

Moreover, hospitals rely on international sources for a significant proportion of the protective equipment for their caregivers. In 2023, Chinese manufacturers supplied the majority of N95 and other respirators used in health care. Additionally, China was the source for one-third of disposable face masks, two-thirds of non-disposable face masks, and 94% of the plastic gloves used in health care settings.8

Many pharmaceuticals — and especially the key starter ingredients that go into them — also are sourced from overseas. The U.S. gets nearly 30% of its active pharmaceutical ingredients (APIs) from China.9 According to a 2023 Department of Health and Human Services estimate, over 90% of generic sterile injectable drugs — such as certain chemotherapy treatments and antibiotics — depend on key starter materials from either India or China.10 Even temporary disruptions in access to medication and supplies can impact care and increase the risk of patient harm.

Tariffs on medical imports could significantly raise costs for hospitals. A recent survey found that 82% of health care experts expect tariff-related expenses to raise hospital costs by at least 15% over the next six months, and 94% of health care administrators expected to delay equipment upgrades to manage financial strain.11 Tariffs also may force hospitals to seek new vendors — often at higher cost or with lower reliability. In fact, 90% of supply chain professionals are expecting procurement disruptions.12

Conclusion: Supporting Hospitals Means Supporting Patients

Hospitals are not only centers of care but also vital economic engines in their communities. Rising costs, inadequate reimbursement, and policy-driven inefficiencies jeopardize the ability of hospitals to deliver high-quality, timely care. To ensure that hospitals can continue to serve patients and communities, policymakers should:

Recognize that rising expenses reflect real pressures, such as labor shortages and increasing demand — not inefficiency.

Acknowledge Medicare and MA payment policies must be updated to reflect the actual cost of care.

Address structural drivers of cost, such as care delays and excessive administrative burdens, instead of simply cutting payments.

As we look to the future, preserving access to hospital care should be a national priority. Supporting hospitals means supporting patients, communities and the entire health care system.

Notes

Source: Aha.org | View original article

Why Did My Car Insurance Rates Go Up In 2025?

Car insurance rates have steadily increased over the last four years. The average auto insurance cost per year in 2024 was 33% higher than in 2021. Wyoming had the highest rate increase by state (39%) when comparing rates from 2024 to 2023. The pandemic has significantly disrupted global supply of auto chains, making some auto parts scarce and driving up prices. The basic law of supply and demand has led to increased parts prices, which in turn caused higher car insurance rates. Costlier claims are also driving car insurance costs up, which is also causing rates to rise, according to Quadrant Information Services. For more information on car insurance, visit The Insurance Institute for Highway Safety at http://www.the insurance institute.org/. For more car insurance news, visit CNN.com/Car-Insurance and follow us on Twitter @CarInsuranceInc and @CNNOpinion. for updates on new car insurance coverage and rates. for more information, visit the Insurance Institute For Highway Safety on Twitter and Facebook.

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Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.

Everywhere you turn, prices are on the rise, making it challenging to afford essentials and other required items, like car insurance.

Many drivers across the country are receiving auto insurance renewal notices with unexpectedly high increases. If you’re asking yourself, “Why did my car insurance rates go up?” you’re not alone. Learning why car insurance rates keep can better equip you to find cheaper prices.

Car Insurance Rate Increases by Year

Car insurance rates have steadily increased over the last four years, according to our analysis of national averages. The average auto insurance cost per year in 2024 was 33% higher than in 2021.

That’s for coverage of $100,000 for injuries to one person, $300,000 for injuries per accident and $100,000 for property damage, with uninsured motorist coverage, and collision and comprehensive insurance with a $500 deductible.

Car Insurance Costs by Company, 2021-2024

Here’s a look at top car insurance companies and how their rates have changed from 2021 through 2024. Some companies’ rates have consistently increased, while others have fluctuated over the years.

Company Average annual car insurance costs 2021 Average annual car insurance costs 2022 Average annual car insurance costs 2023 Average annual car insurance costs 2024 Allstate $2,315 $3,000 $2,896 $3,066 Auto-Owners $1,520 $1,628 $1,855 $1,979 Erie $1,182 $2,144 $1,642 $1,866 Farmers $2,073 $2,381 $3,093 $3,062 Geico $1,221 $1,716 $1,597 $1,849 Nationwide $1,411 $2,041 $1,436 $1,452 Progressive $1,825 $2,157 $1,826 $2,000 State Farm $1,403 $1,959 $2,025 $2,167 Travelers $1,499 $1,852 $1,521 $1,597 USAA $1,111 $1,412 $1,364 $1,475 Rates are based on a 40-year-old female driver with a good driving record. Averages are based on coverage with $100,000 for injuries to one person, $300,000 for injuries per accident and $100,000 for property damage (known as 100/300/100), uninsured motorist coverage, and collision and comprehensive insurance with a $500 deductible. Source: Quadrant Information Services. See More See Less

Highest Rate Increases by State

Wyoming had the highest rate increase by state (39%) when comparing rates from 2024 to 2023. New York had the highest dollar amount increase, over $750 year over year.

Here are the top 10 states with the highest rate increases, according to our analysis.

State Average annual costs in 2023 Average annual costs in 2024 $ difference in annual cost in 2024 % differences in cost for 2024 Wyoming $1,241 $1,720 $479 39% New York $2,141 $2,898 $757 35% New Jersey $2,061 $2,687 $626 30% Hawaii $1,314 $1,655 $341 26% Maryland $1,825 $2,290 $465 25% Connecticut $1,892 $2,310 $418 22% Rhode Island $2,038 $2,414 $376 18% Georgia $2,056 $2,410 $354 17% Vermont $1,071 $1,237 $166 15% Alaska $1,946 $2,217 $271 14% Rates are based on a 40-year-old female driver with a good driving record. Averages are based on coverage with $100,000 for injuries to one person, $300,000 for injuries per accident and $100,000 for property damage (known as 100/300/100), uninsured motorist coverage, and collision and comprehensive insurance with a $500 deductible. Source: Quadrant Information Services. See More See Less

What’s Causing the Rapid Increase in Car Insurance Rates?

Inflation is one reason car insurance rates continue to climb. Costlier claims are also driving car insurance rates higher.

Key factors contributing to the seemingly sudden increase in car insurance costs include:

Broken Supply Chains and Shortages

The pandemic significantly disrupted global supply chains, making some auto parts scarce and driving up their prices due to the basic law of supply and demand. This increased parts prices led to higher car repair costs, which in turn caused auto insurance rates to rise.

Ongoing geopolitical issues, natural disasters and work stoppages persist, elevating auto insurance costs.

While supply chains and shortages have improved, they haven’t fully returned to pre-pandemic conditions. That keeps expenses high and makes car insurance more expensive.

Climate Change

Climate change may lead to more frequent disasters—such as flooding, storms and wildfires—that put more vehicles at risk of harm. If catastrophic weather events cause more auto claims, insurers may try to pass those costs onto you through increased insurance premiums.

For instance, Florida is often confronted with hurricanes and tropical storms and has an average car insurance cost of $3,536 per year. Vermont, which isn’t prone to hurricanes and other catastrophic weather, has an average rate of $1,237.

Electric Vehicle Adoption

Experts hope more drivers adopting electric vehicles (EVs) will lower emissions and slow climate change. EVs may be good for the environment but they can be expensive for car insurance.

EVs can be expensive to repair or replace, making them expensive to insure.

Planning to buy an EV? Take a look at our list of the most and least expensive green cars to insure.

Increase in the Theft of Vehicles and Car Parts

Vehicle theft rates have steadily risen since 2019, according to the National Insurance Crime Bureau. The NICB found that auto thefts surpassed 1 million in 2023, driving auto claims and car insurance rates higher.

Pro Tip Include comprehensive insurance on your policy to ensure you can file a claim if your car or its parts are stolen.

While catalytic converter thefts are decreasing after a surge, the cost of the repair is still high. The average catalytic converter claim (to repair the car and replace the part) is around $2,900, according to State Farm.

Inflation

Like many sectors of the economy, auto insurance is feeling the effects of inflation.

Cars have become much more expensive to repair and replace, causing car insurance rates to rise to cover future claim payouts.

New and used car prices have skyrocketed in the last few years. Auto parts needed for repairs have become more expensive, as have labor costs in the repair shops.

Slower Claims Can Cost Insurers More

Many drivers are finding the claims process takes a lot longer now. The average repair time is 22 days, up from 12 days pre-pandemic. That’s according to a 2024 J.D. Power Survey of more than 9,700 auto insurance policyholders who settled a claim recently.

If your auto insurance pays the cost of a rental car during extended repair periods, it costs them significantly more per year in claims.

Why Is My Car Insurance So High?

Car insurance costs can be high for a host of reasons. Your unique driver profile influences the amount you’ll pay, as insurers consider factors such as your age, driving record and location. Increased repair costs and more claims related to natural disasters are also fueling the surge in auto insurance costs.

Personal and Social Factors

Your personal details affect your car insurance cost, including:

Driving Skills

Your skills behind the wheel and those of other drivers on your policy impact your auto policy’s premium.

Choice of Vehicle and Safety

Car Make and Model

The kind of vehicle you own can substantially affect your auto insurance costs, particularly if you opt for collision and comprehensive coverage. For instance, our analysis of the most and least expensive cars to insure revealed that the following popular models are among the cheapest and the most expensive to insure:

Here are more items related to your vehicle that impact how much you’ll pay for car insurance:

Choice of Car Insurance Company and Previous Policies

The car insurance company you choose and your coverage history also influence what you pay for auto insurance.

Is It Normal for Car Insurance Rates To Go Up for No Reason?

No. You may not see at first glance a reason for car insurance rates to go up, but there should be an associated cause that the auto insurance company can explain to you and your state’s insurance regulator.

Pro Tip If your renewal paperwork doesn’t explain the reason for a rate hike, contact your insurer for an explanation.

Higher rates could be due to personal factors like your current age bumping you up to a higher pricing tier. Or it could be due to other factors outside your control. For example, if there’s more crime or accidents in your area now or the costs of car repairs or medical treatments have increased.

Source: Forbes.com | View original article

Here’s what’s going on with Medicaid in Colorado, including potential deep federal cuts

Medicaid is a $880 billion-a-year state-federal program. About 1.2 million people, about a quarter of the state’s population, rely on it for everything from doctor checkups to preventative care to ER visits. If Congress cuts funding the state will lose more than $1 billion in federal money to cover those Coloradans. The Robert Wood Johnson Foundation estimates Colorado would have to increase its Medicaid spending by 31 percent to make up for those proposed cuts. If Colorado were to drop their expansion population, that would also be a really large bump in your uninsured rate, an expert says. The estimate is about about 230,000 additional people would become uninsured, which would be a 50 percent increase in your rate, she says. It’s no matter how much money Colorado has, lawmakers say, public services like schools and higher education will have to be cut to cover the loss of that huge sum of federal dollars. No way of replacing hundreds of millions in federal funding.

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Leer en español aquí.

Congressional Republicans want to cut taxes in a big way. As part of a budget blueprint they aim to slash spending, add funding for border enforcement and defense, and make up to $4.5 trillion in tax cuts. One major program that could be chopped back — Medicaid.

What’s it mean for Colorado? It means potentially sweeping changes for Coloradans, especially those enrolled in the program, for health care institutions like community health centers, clinics, and hospitals, and the state’s economy.

To start, what is the Medicaid program?

Medicaid is a $880 billion-a-year state-federal program. It’s a bedrock of America’s healthcare system, offering health coverage to millions, a broad variety of people. That includes seniors, people with disabilities, low-income Americans, pregnant women, adults, and children.

Colorado’s Medicaid program is called Health First Colorado. About 1.2 million people, about a quarter of the state’s population, rely on it for everything from doctor checkups to preventative care to ER visits, according to the latest data from the agency.

What do Republicans and the Trump administration say about wanting to cut Medicaid?

Medicaid has long drawn criticism from some conservatives and Republicans. They see the program as inefficient, expensive and too big.

Some have talked about making reforms to Medicaid. Those include work requirements, requiring those receiving benefits from the program to prove that they’re working.

Other proposals could include capping spending per enrollee, limiting the minimum rate at which the federal government matches state funds to the program, restricting the use by states of taxes on providers to finance their share of Medicaid funding and eliminating some Medicaid regulations.

This is all coming to a head in Congress?

Exactly, Congress has started work on the federal budget.

Earlier this month, President Donald Trump said in an interview with billionaire advisor Elon Musk he would not touch Medicaid. But Trump has backed the budget plan and Republicans in the House have given it initial approval. Speaker Mike Johnson detailed what he sees as the program’s problems.

“Medicaid is hugely problematic because it has a lot of fraud, waste, and abuse,” Johnson said. “Everybody knows that. We all know it intuitively.”

He said experts estimate there’s $50 billion in fraud in Medicaid alone.

The agency that runs Medicaid, the Center for Medicaid and Medicare Services, examines payment error rates on improper payments. Most, it found, come from paperwork issues, like missing or insufficient documentation. A report from the agency put that number at a small portion of the total, around 3 percent last year.

What could Medicaid cuts mean for Colorado?

To answer that, let’s go back to 2014. That’s when the Affordable Care Act, or Obamacare, launched. At the time, Colorado expanded who is eligible for Medicaid coverage; that expansion covered many Coloradans who were previously uninsured. With the historic change, there were more Coloradans who had health insurance than ever, and the state’s uninsured rate was cut sharply from about nearly 16 percent in 2011 to below 5 percent in 2023, according to the Colorado Health Institute.

But if Congress cuts funding the state will lose more than $1 billion in federal money to cover those Coloradans. It would be one of hardest hit states, according to a report from the Robert Wood Johnson Foundation, which is a philanthropic group focusing on health.

State leaders would need to cut spending elsewhere to cover the cost. Or they would have to remove hundreds of thousands of people from Medicaid. The group estimates Colorado would have to increase its Medicaid spending by 31 percent to make up for those proposed cuts.

“That’s obviously a pretty major hit,” said senior policy advisor Kathy Hempstead, with the Robert Wood Johnson Foundation, noting Colorado would have to come up with a billion dollars or drop people’s Medicaid coverage. “If Colorado were to drop their expansion population, that would also be a really large bump in your uninsured rate,” she said. “The estimate is about 230,000 additional people would become uninsured, which would be a 50 percent increase in your uninsured rate.”

She says either scenario is extremely adverse to Colorado and bad for every state.

Does the state of Colorado have the money to cover the loss of that huge sum of federal dollars?

No way. Colorado is facing its own billion dollar deficit, so it’s already looking at broad cuts. So there’s no way of replacing hundreds of millions in federal Medicaid funding. Colorado House Speaker Julie McCluskie recently told reporters no matter how much lawmakers value things like public schools and higher education, “health care services, Medicaid, all of the safety net programs and services for our most vulnerable in this state, we are just grappling with some pretty difficult choices and cuts.”

So, back to the federal budget, the key political leaders are members of Colorado’s Congressional delegation?

The action so far has been in the U.S. House. Colorado’s delegation has four members from each party. All Republicans voted for the budget resolution; Democrats in the state’s delegation voted against it. Two Republicans, Gabe Evans, of the 8th District and Jeff Hurd, of the 3rd are considered among the most vulnerable on this issue because they have a lot of constituents, more than a quarter of all residents, getting health care due to Medicaid, and they reside in swing districts.

Would their districts be hit hard?

Hurd’s district is on the Western Slope and in southern Colorado. Evans’ is along the northern Front Range and Weld County.

Both districts would lose more than $2 billion in funding in the coming years, according to one analysis, from the Center for American Progress, a liberal public policy think tank. For Hurd, nearly 60,000 residents of his district would lose coverage; for Evans’ district the figure is more than 40,0000. That’s if the cuts go through.

According to a Congressional District Health Dashboard from NYU Langone Health, almost 30 percent of the residents in Hurd’s district are enrolled in Medicaid. That’s the most of any congressional district in the state.

In Evans’ district the figure is 25 percent of the population.

What are Colorado Republicans saying about Medicaid cuts?

Hurd, in a press release, called the budget resolution which passed, “a win for America,” saying that a united Republican party delivered on its campaign promises, it doesn’t require specific cuts and is merely a first step.

In an interview with Colorado Matters, he told host Ryan Warner, he believed it was important to “preserve Medicaid benefits for Coloradans,” particularly in his district, while making the program more efficient over time.

“If we’re looking at efficiencies, we’re not talking about realizing any efficiencies over the course of one year,” Hurd said. “They would be spread out over the course of 10 years and making sure, again, that we are delivering benefits to people who need them. Absolutely a priority for me.”

Evans is pushing back on critics. He posted on X that the Republicans’ bill is not a tax break for billionaires or large corporations, which is how Democrats have described it. He said Colorado is responsible for administering the program, but “unfortunately, we’ve seen where Colorado’s priorities lie. They’re spending tens of millions of dollars funding healthcare for illegal immigrants. Instead of cutting fraud, waste and abuse.

A spokesman for the state’s Medicaid program, Marc Williams, said in Colorado, children and pregnant women are the only undocumented people who receive Medicaid. The idea is to get them preventive care, so they don’t need costlier emergency coverage down the road.

He said 14,114 women and children are enrolled in a program called Cover All Coloradans, which launched in January. Lawmakers in 2022 passed HB22-1289, which allows undocumented pregnant women and children health coverage assuming they meet all other eligibility criteria except for citizenship.

“These folks are going to need health care services with or without health coverage and calls to mind the old adage of ‘an ounce of prevention is worth a pound of care.’ ” said Williams via email. “CAC provides prenatal health services so mom has a better chance of delivering a healthy, less expensive baby — along with well-child care to help keep the baby healthy.”

A spokesperson for the governor’s office responded to Evans with even stronger language.

“The reality is the Congressman just voted to pull the rug out from under 163,002 of hardworking Coloradans in his district who receive health care through Medicaid, which will raise costs, and hurt Colorado families and children who will lose care if these cuts go through. His vote will have devastating consequences for his constituents,” she said via email.

In an earlier press release, Democratic Gov. Jared Polis said he urged members of Congress to reject what he called “harmful cuts to Medicaid.” He said they’re “cruel…don’t make sense, and would harm Coloradans and children.”

Democrats are pretty much united against this budget, and the Medicaid cuts?

They’ve said government programs like Medicaid can be made more efficient, but these cutbacks would go down to the bone. Rep. Diana DeGette of Denver. She said traditionally Medicaid was for poor people, seniors who needed long-term care and maybe some children. But as it’s grown it touches more people, so deep cuts would be devastating. “It is the shredding of the social safety net,” she said at a news event earlier this month. “Now, a huge percentage of Americans use some form of Medicaid to help pay for their health care costs.”

John Daley/CPR Rep. Diana DeGette, a Democrat, speaks at a press conference about the impact of potential Medicaid cuts. She’s joined by Denver Health CEO Donna Lynne and Jim Garcia, CEO of Tepeyac Community Health Center, a nonprofit community health center in Denver.

What do Medicaid patients say about it?

They’re extremely worried and not sure how they’ll manage without this health care. Veronica Montoya is a Medicaid recipient in Denver. She’s a licensed real estate broker, whose career has been severely hit by a series of autoimmune problems, combined with other conditions like diabetes.

“I need help. I need taxpayer help. And it’s very humbling,” she said. “Medicaid is hugely important for so many people. And I am just an example of somebody who can go from making six figures to making nothing. And I need help because of the health issues.”

John Daley/CPR Veronica Montoya, a Medicaid recipient in Denver, said cuts could have a big impact on her life. A licensed real estate broker, Montoya she’s had to manage severe autoimmune problems, along with other conditions like diabetes. Medicaid pays for medications she could not afford without it, she said.

John Daley/CPR News Jean Sisneros is a Lakewood resident, grandma, sixth generation Coloradan and diabetic. She said Medicaid has been critical for her health and for many in the community.

“It’s been lifesaving to me,” said Jean Sisneros of Lakewood, a grandma, sixth-generation Coloradan and a diabetic, who has gotten health care through Medicaid.

“I’ve seen family members of mine die from complications of organ failure due to diabetes.”

She said deep cuts would have an impact on many Coloradans. “If it wasn’t for Medicaid, a lot of these people, they wouldn’t be getting any health care. It’s not fair.”

Do a lot of hospitals and community health centers and clinics rely on Medicaid funding?

Absolutely. Reimbursements from the government covers the care of Medicaid patients they treat, and that helps many health institutions pay the bills.

For example, the Colorado Community Health Network represents 20 community health centers and operates nearly 250 clinics. Those centers provide primary care to one in seven people in the state, about 857,000 people, in rural, urban and frontier areas. About half their patients are enrolled in Medicaid.

So cuts to the program would mean cuts to the delivery of health care statewide. These health services that rely on Medicaid funding run on thin margins. If deep cuts go through, it could mean layoffs, service cuts or worse.

“When hospitals and health centers are forced to close, there goes businesses right behind them because people can’t afford to live in a community that doesn’t have a doctor, that doesn’t have a hospital or an emergency room,” said Polly Anderson, the group’s vice president of strategy and financing. “And so the ripple effects of these kind of cuts are really unending.”’

A list of hospital systems in Colorado shows most get at least 20 percent of their revenue from Medicaid.

At Denver Health, major cuts could cost close to $1 billion out of its $1.5 billion budget, according to CEO Donna Lynne. “We’d have to cut services, we’d have to lay off employees,” Lynne said. “The impact, not just in Denver, but in the entire state, is catastrophic.”

What impact would it have on Colorado’s health system if many people lost Medicaid coverage?

Many would forgo or delay getting health care, which would lead to many later seeking care at hospital emergency rooms, where they can’t be turned away. Emergency care is much more expensive than preventative or primary care.

The Colorado Health Institute found that about half of uninsured people skipped care because of cost, compared to a bit less than one in five people on Medicaid who said that they skipped care due to cost, said the group’s president and CEO Sara Schmitt.

According to data from 2023, only about 40 percent of Colorado uninsured people had a medical visit in the past year, compared with nearly 90 percent of those who are insured.

It also creates challenges for medical providers.

“Are they going to just stop seeing this person who they have a longstanding relationship with because that person no longer has coverage?” said Schmitt. “Can they afford to keep seeing uninsured patients?”

We know there is a political divide, but how does the rest of the U.S. feel about Medicaid? Is it popular?

Yes, according to recent national polling.

Two thirds of adults in the U.S. say they have a connection to the Medicaid program, through health insurance, pregnancy-related care, home health care or nursing home care, coverage for a child or to help pay for Medicare premiums. That’s according to a poll from KFF, an independent source for health policy research, polling and news.

Large majorities of Americans view it favorably, including 64 percent of Republicans, 81 percent of independents and 88 percent of Democrats, according to the poll.

Most Americans think Medicaid works well for lower-income people, though there is a partisan divide over whether Americans see it mostly as health insurance or a government welfare program. Most Democrats and independents say it is mostly a health insurance program, a small majority of Republicans view it primarily as a welfare program, the poll found.

What happens next, now that House Republicans have passed the initial budget?

It’ll all depend on what the Senate does, and then leaders from both chambers would hash out differences, through the budget resolution process. That is far from over, but Medicaid cuts are definitely closer to reality after the recent House vote.

Source: Cpr.org | View original article

Abortion in the United States

The US abortion policy landscape continues to evolve in the wake of the Supreme Court’s June 2022 decision in Dobbs v. Jackson. The abortion rate in 2024 was 15.4 abortions per 1,000 women aged 15–44. In 2024, approximately 155,000 people crossed state lines to access abortion care, representing 15% of all abortions provided in states without total bans. The share of all abortion patients who traveled out of state for care increased from 9% in 2020 to 15% in 2024. The most recent data on the characteristics of people having clinician-provided abortions in the United States were collected in June 2021. The profile of people accessing abortion care in the year prior to the Dobbs decision may have changed since then. The latest information on abortion policies in effect in each state—including total abortion bans and other restrictions—can be found on Guttmacher’S interactive abortion policy map. For confidential support call the Samaritans on 08457 90 90 90, visit a local Samaritans branch or see www.samaritans.org for details.

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This fact sheet highlights key data points related to abortion in the United States, drawing on the Guttmacher Institute’s long-standing efforts to document abortion numbers and rates, characteristics of people having abortions and related indicators.

The US abortion policy landscape continues to evolve in the wake of the Supreme Court’s June 2022 decision in Dobbs v. Jackson Women’s Health Organization, which overturned Roe v. Wade. The latest information on abortion policies in effect in each state—including total abortion bans and other restrictions—can be found on Guttmacher’s interactive abortion policy map.

Numbers and Rates

An estimated 1,038,000 abortions were provided by clinicians in states without total bans in 2024, a less than 1% increase from 2023 and an increase of 12% from 2020. 1 This count includes medication abortions provided via telemedicine by US clinicians, with pills mailed to patients in states without total bans or bans on telemedicine. It does not include self-managed abortions, such as those using medications mailed from pharmacies outside the United States. Evidence suggests self-managed abortions have increased since Dobbs. 2

The abortion rate in 2024 was 15.4 abortions per 1,000 women aged 15–44. This is a decrease of 1% from 2023, when the abortion rate was 15.5, and an 7% increase from the 2020 rate. 3

Current national and state abortion counts are available from Guttmacher’s Monthly Abortion Provision Study. US abortion incidence data for 1973–2020 are available from the Guttmacher Data Center.

Providers

In 2023, 765 brick-and-mortar clinics were providing abortion services in the United States, a 5% decline from 807 such clinics in 2020. 4

As of March 2024, there were no clinics providing abortion care in the 14 states with total abortion bans in effect at that time. These states had 63 clinics in 2020. 4

In the remaining 36 states (and the District of Columbia), where abortion was not completely banned, there were 21 more brick-and-mortar clinics operating in March 2024 than in 2020, a 3% increase. 4

Online-only, or virtual, clinics have come to play an important role in abortion access. In 2024, they accounted for 14% of clinician-provided abortions in states without total bans, an increase from 10% in 2023. Nationally, the share of abortions provided via online-only clinics is almost certainly higher than this, as the 14% estimate does not include shield law provision into states with total abortion bans.5

Out-of-State Travel

Abortion bans and other restrictions imposed or enforced after Dobbs have led to a surge in people traveling from states where abortion is banned or heavily restricted to seek care in states where abortion is available.6

More than 169,000 US abortion patients traveled to other states to obtain care in 2023, representing 16% of all abortions provided in states without total bans. Half as many (81,000) did so in 2020. 7

In 2024, approximately 155,000 people crossed state lines to access abortion care, representing 15% of all abortions provided in states without total bans.

The share of all abortion patients who traveled out of state for care increased from 9% in 2020 to 15% in 2024.7

Medication Abortion

Medication abortion accounted for 63% of all clinician-provided abortions in states without total bans in 2023; by contrast, this method accounted for 53% of abortions in 2020.8 At the state level, medication abortions accounted for the majority of abortions in nearly all US states without a total ban, ranging from 44% in Washington, DC and 46% in Ohio to 95% in Wyoming and 84% in Montana.9 These estimates do not include self-managed abortions or abortions occurring in states with total bans.

Characteristics of People Obtaining Abortions

The most recent data on the characteristics of people having clinician-provided abortions in the United States were collected in June 2021–July 2022 and represent the population of people obtaining abortions in the year prior to the Dobbs decision. The profile of people accessing abortion care may have changed since then.

Among people obtaining an abortion, more than two-thirds were in their 20s: 33% were aged 20–24 and 28% were 25–29. 10

Adolescents made up 10% of people obtaining an abortion; 2% of people obtaining an abortion were 17 or younger. 10

Similar proportions of people obtaining an abortion were Black (29%), Latinx (30%) or non-Hispanic White (30%). Four percent were Asian and 7% identified as another race or ethnicity or as more than one race. 10

Approximately 55% of people who obtained an abortion had previously had at least one birth. 10

Sixteen percent of people having abortions identified as nonheterosexual: 12% identified as bisexual, 2% as pansexual, 0.3% as lesbian and 2% as something else. 11

More than 1% of people accessing abortion care reported their gender identity as something other than woman or female. 11

Some 41% of people obtaining abortions had an income below the federal poverty level (FPL) and 30% had incomes between 100% and 199% of the FPL. 10

Approximately one in four women are expected to have an abortion by age 45, given 2020 abortion rates. 12

According to data from the Centers for Disease Control and Prevention (CDC), in 2022: 40% of abortions were obtained at six weeks’ gestation or earlier, 53% at 7–13 weeks’ gestation, and 7% at 14 weeks’ gestation or later.13

Insurance Coverage and Payment

Most individuals who obtained abortion care in 2021–2022 had some form of health insurance. But insurance does not necessarily cover abortion services, and even when it does, patients may not be able to use available coverage.

Source: Guttmacher.org | View original article

50 NEW Artificial Intelligence Statistics (May 2025)

This is a list of up-to-date artificial intelligence stats for 2025. From ChatGPT to autonomous vehicles, AI is one of the most exciting (and controversial) technology trends in the 21st century. As of 2025, as many as 97 million people will work in the AI space. 83% of companies claim that AI is a top priority in their business plans. Netflix makes $1 billion annually from automated personalized recommendations. 48% of businesses use some form of AI to utilize big data effectively. The wearable AI market is expected to reach $180 billion this year. The latest available data predicts the AI market to grow by 26% this year (PwC) Some estimates suggest that AI technology could generate $15 trillion in revenue by 2030. Get a complete view of your competitors to anticipate trends and lead your market. Get My Free Site Audit 👉 Get My free site audit report. Follow us on Facebook and Twitter @Goverment and @Youtube. Back to the page you came from.

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This is a list of up-to-date artificial intelligence stats for 2025.

From ChatGPT to autonomous vehicles, AI is one of the most exciting (and controversial) technology trends in the 21st century.

But how big is the AI space? And how quickly is it growing?

In this article, we’ll take a closer look at key AI statistics, along with growth projections for the future.

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Top AI Statistics (Editor’s Picks)

The global AI market is valued at approximately $391 billion .

The AI industry is projected to increase in value by around 5x over the next 5 years.

The AI market is expanding at a CAGR of 35.9% .

As of 2025, as many as 97 million people will work in the AI space.

83% of companies claim that AI is a top priority in their business plans.

Netflix makes $1 billion annually from automated personalized recommendations.

48% of businesses use some form of AI to utilize big data effectively.

38% of medical providers use computers as part of their diagnosis.

Artificial Intelligence Market Size

The AI market is worth around $391 billion (GrandViewResearch)

As of the latest available data, the global AI market is worth almost $400 billion.

This is primarily thanks to increasing practical use cases of AI technology, from content creation to self-driving cars.

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The global AI market is expected to reach $1.81 trillion by 2030 (GrandViewResearch)

While the current AI market is sizeable, it’s set to grow by nearly 5x over the next few years.

During this forecast period, the AI market is predicted to increase by a CAGR of 35.9%.

The AI software market’s global annual revenue stands at over $100 billion (Omdia)

The AI software market’s global annual revenue (2018 to 2025):

Year Revenue 2018 $10.1 billion 2019* $14.69 billion 2020* $22.59 billion 2021* $34.87 billion 2022* $51.27 billion 2023* $70.94 billion 2024* $94.41 billion 2025* $126 billion

*Projected figures.

ChatGPT reached 1 million users in 5 days (OpenAI)

In late 2022, ChatGPT broke records as the AI platform reached 1 million users in less than a week.

By early 2023, ChatGPT had accumulated over 100 million monthly users.

9 out of 10 organizations back AI to give them a competitive edge over rivals (MIT Sloan Management)

One survey found that 87% of global organizations believe that AI technologies will give them a competitive edge.

This equates to an increase of 12% from the previous year.

AI Adoption: Artificial Intelligence Growth

Between 2015 and 2019, the number of businesses utilizing AI services grew by 270% (Gartner, Forbes)

In 2015, just 10% of organizations used or planned to implement AI in the near future.

By 2019, this figure had surged to 37%.

Meanwhile, in the UK, the number of AI companies has increased by 600% over the past decade.

Approximately 1 in 3 organizations use AI (Hostinger)

According to Hostinger Tutorials, 35% of companies have turned to AI services to address labor shortages.

And 42% are considering AI adoption in the near future.

Global AI is growing at a CAGR of almost 40% (Grand View Research)

AI’s recent rapid growth is unlikely to slow down in the near future.

In fact, global AI adoption by organizations is set to expand at a CAGR of 35.9% between 2025 and 2030.

The wearable AI market is expected to reach $180 billion this year (Global Market Insights)

The success of products like the Apple Watch and Fitbits is set to boost the global wearable AI market value.

As of 2025, the market is set to reach $180 billion.

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AI tech can increase revenue by over $15 trillion by the end of the decade (PwC)

Some estimates suggest that AI technology could generate $15.7 trillion in revenue by 2030. Boosting the GDP of local economies by an additional 26%.

The AI market is set to grow by 26% this year (Tractica)

The latest available data predicts a lucrative near future for the AI market.

Between 2021 and 2022, the AI market was projected to grow by 47%.

This upward trajectory was forecast to continue year-over-year, increasing by at least 26% each year:

Year Year-Over-Year Growth 2019 54% 2020 54% 2021 54% 2022 47% 2023 38% 2024 33% 2025 26%

Worldwide AI chip revenue will surpass $80 billion in the next couple of years (The Insight Partners)

The latest data shows that global AI chip revenue is set to reach $83.25 billion by 2027.

Almost 100 million people are working in the AI space (Search Logistics)

If the projections about growth in the AI space come to fruition, further manpower will be required.

By the end of 2025, approximately 97 million people will be needed to fill the work demands of the surging industry.

Business analysts estimate that the US AI market is worth approximately $75 billion (Statista)

As dependency on human intelligence decreases, this figure is set to rise further.

As of 2025, the US AI space is worth a reported $73.98 billion. That’s a predicted CAGR of 26.95% between 2025 and 2031.

How Businesses Adopt Artificial Intelligence

Around 4 in 5 companies deem AI to be a top priority in their business strategy (Forbes)

A whopping 83% of companies claim that using AI in their business strategies is a top priority.

Automated emails and chatbots are two of the most common uses of AI in everyday business communications.

Here’s a look at current company usage of AI:

AI Usage Percentage Don’t use AI currently, but are looking into it 7% Have tested a few proofs of concept with limited success 14% We have a few promising proofs of concept and are looking to scale 21% We have processes that are fully enabled by AI with widespread adoption 25% We have started implementing limited AI use cases. 33%

80% of retail executives expect their businesses to adopt AI automation by the end of 2025 (Analytics Insight)

The vast majority of surveyed retail executives in 2021 believed their company would utilize AI automation by next year.

Around 17 in 20 CEOs claimed AI would be “mainstream technology” in their company in 2021 (PWC)

86% of CEOs agree that AI and business go hand-in-hand since AI is mainstream technology in their offices.

AI is expected to improve employee productivity by 40% (PWC)

Data suggests that AI has the potential to boost employee productivity by approximately 40% by 2035.

Netflix’s recommendations technology is worth $1 billion in revenue annually (Business Insider)

Many consumers will likely agree that Netflix’s use of AI is one of its biggest selling points. The streaming platform utilizes AI to personalize recommendations and tailor them to viewers’ interests.

Tech companies that invest in AI often significantly increase their revenue, as algorithms can keep the consumer constantly returning for more.

Data shows that the top voice assistant by accuracy is Google Assistant (Loup Ventures)

Google Assistant outranks its voice assistant competitors, such as Apple’s Siri and Microsoft’s Cortana, with an accuracy record of 98% in navigation.

Type of question Google Assistant Siri Alexa Local 93% 89% 85% Commerce 92% 68% 71% Navigation 98% 86% 72% Information 96% 76% 93% Command 86% 93% 69%

More than half of telecommunications organizations use chatbots (Gartner)

52% of telecommunications organizations utilize chatbots to increase their overall productivity.

Recent data indicates a substantial acceleration in the adoption of AI-powered applications (Gartner)

One key AI application in business is providing personalized product recommendations via consumer behavior forecasting and targeted advertising.

Pop-up marketing ads and chatbots are each examples of AI operations.

Automation usually translates to less waiting time for customers.

Nearly half of all businesses use some form of machine learning, data analysis, or AI (O’REILLY)

To maintain the accuracy of their data, 48% of businesses use machine learning (ML), data analysis, and AI tools.

The manufacturing industry stands to gain $3.78 trillion from AI by 2035 (Accenture)

The AI industry has a foothold in various business functions, from cloud computing for datasets to streamlining company decision-making.

Industry verticals utilizing AI technology include tech-related sales, insurance, banking, telecom, healthcare, manufacturing, retail, and marketing, to name a few.

Industry Baseline Additional AI Contribution Accommodation and Food Services $1.5 trillion $489 billion Agriculture, Forestry, and Fishing $554 billion $215 billion Arts, Entertainment, and Recreation $453 billion $87 billion Construction $2.76 trillion $520 billion Education $1.06 trillion $109 billion Financial Services $3.42 trillion $1.15 trillion Healthcare $2.26 trillion $461 billion Information and Communication $3.72 trillion $951 billion Manufacturing $8.4 trillion $3.78 trillion Other Services $535 billion $95 billion Professional Services $7.47 trillion $1.85 trillion Public Services $3.99 trillion $939 billion Social Services $1.08 trillion $216 billion Transportation and Storage $2.13 trillion $744 billion Utilities $962 billion $304 billion Wholesale and Retail $6.18 trillion $2.23 trillion

Autonomous vehicles could generate between $300 billion and $400 billion in global revenue (McKinsey)

The self-driving car market is proving to be more than a novelty niche, potentially grossing $400 billion by 2035.

Just 7% of people trust chatbots when making a claim (Accenture)

The prevalence of chatbots may be increasing, but they still have a long way to go.

Just under 1 in 10 people (7%) trust chatbots when making a claim.

A stark difference from the 49% that trust human advisors.

AI tech is expected to increase banking industry revenue by $1 billion between 2023 and 2026 (Accenture)

By next year, AI technology will have added $1 billion to the banking industry.

Around 2 in 5 medical professionals now use computer systems to aid diagnosis (Gartner)

38% of medical providers use computer systems as their diagnosis assistants.

AI is helping manufacturing companies outperform competitors (Microsoft)

Manufacturing businesses that utilize AI are performing 12% better than businesses that continue to use traditional methods only.

19 in every 20 customer interactions will be AI-assisted as of 2025 (AI Business)

In the next few years, the retail industry will be able to relinquish much of its communication to AI.

In fact, it predicted that over 95% of online and telephone communications will utilize AI technology as of this year.

AI in Marketing, Customer Service, and Sales Statistics

Marketing and sales departments prioritize AI and ML for market revenue success 40% more than other industry departments (Forbes)

AI marketing companies, customer service roles, and sales departments rely on process automation to increase their market revenue share.

Artificial intelligence is a solution for overworked customer-facing roles.

AI algorithms increase leads by as much as 50% (Harvard Business Review)

AI algorithms reveal data on which products generate the highest profit margins and offer valuable insight into a client’s purchasing habits.

Recent data shows that using AI for sales:

Increases leads by 50%

Reduces call times by 60%

Results in overall cost reductions of up to 60%

Around 4 in 10 marketers believe that AI email marketing improves market revenue (Statista)

In total, 41.29% of marketers agree that using AI for email marketing generates higher market revenue.

AI Replacing Jobs and Employment Statistics

Transportation and storage workers face the greatest risk of job automation (PwC)

Many people worry that AI will continue to take jobs from human workers, resulting in a job crisis.

And some are even asking whether they should start looking for a new career solution before automation makes their current role obsolete.

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Below is data on employment shares and the proportion of jobs at high risk of automation by the early 2030s for all UK industry sectors:

Industry Share of Employment Risk of Job Automation Wholesale and retail trade 14.80% 44% Manufacturing 7.60% 46.4% Administrative and support services 8.40% 37.4% Transportation and storage 4.90% 56.4% Professional, scientific, and technical 8.80% 25.6% Human health and social work 12.40% 17% Accommodation and food services 6.70% 25.5% Construction 6.40% 23.7% Public administration and defense 4.30% 32.1% Information and communication 4.10% 27.3% Financial and insurance 3.20% 32.2% Education 8.70% 8.5% Arts and entertainment 2.90% 22.3% Other services 2.70% 18.6% Real estate 1.70% 28.2% Water, sewage, and waste management 0.60% 62.6% Agriculture, forestry, and fishing 1.10% 18.7% Electricity and gas supply 0.40% 31.8% Mining and quarrying 0.20% 23.1% Domestic personnel and self-subsistence 0.30% 8.1% Total/Average for all sectors 100% 30%

Fears of being made redundant might be justified for workers in the transportation and storage (56.4%), manufacturing (46.4%), and wholesale & retail (44%) industries in the UK.

Across all US industries, AI and ML are expected to replace 16% of all US jobs in less than half a decade (Forrester)

Despite this, new jobs are likely to arise. The AI market will create 9% of new jobs in the US for a net loss of 7%.

Where Is AI Used Today?

The uses for AI stretch far beyond cataloging the content of your online shopping cart.

Artificial intelligence systems can function as digital personal assistants, turn the lights on in a smart home, and even protect against infectious diseases like COVID-19.

Over 1 in 5 US adults own a smart speaker (Statista)

Popular smart speakers include Apple’s HomePod and the Amazon Echo.

These use speech recognition technology to provide weather forecasts, play music, or make emergency phone calls.

AI is used in disease prevention to discover previously unknown strains (OECD)

Before COVID-19 became an all-too-common term in the healthcare sector, AI reports included an outbreak of an unknown type of pneumonia.

Some smartwatches utilize AI to time hand-washing sessions for maximum cleanliness (Apple)

Wearable tech can even aid the healthcare sector’s mission to create a healthier world.

Popular AI Function Statistics

It is estimated that there are over 8 billion voice assistants currently in use (BusinessWire)

Chatbots may still need improvements in natural language processing before consumers are on board.

But voice assistants are a prime example of AI merging seamlessly with everyday life.

Here is the number of digital voice assistants in use worldwide from 2019 to 2024:

Year Number of Digital Voice Assistants 2019 3.25 billion 2020* 4.2 billion 2024* 8.4 billion

*Projected figures.

More than half of Americans use voice assistants for information purposes (Edison Research)

Over 110 million virtual assistant users reside in the US.

As of early 2020, voice assistants were a source of information for 51% of all US residents.

By the end of this year, the NLP market share is forecast to increase to over $43 billion (Tractica)

Natural language processing (NLP) helps computers translate human language into information they understand by manipulating data.

Companies are striving to bridge the gap between human language and machine intelligence.

Here’s a look at global revenue from the NLP market from 2017 to 2025:

Year Revenue 2017 $3.18 billion 2018 $5.07 billion 2019* $8.21 billion 2020* $12.4 billion 2021* $17.58 billion 2022* $24 billion 2023* $30.35 billion 2024* $37.33 billion 2025* $43.29 billion

*Projected figures

During the forecast period of 2017-2025, the NLP market is set to grow by around 14x.

Over the next few years, it will become more common for patients to download and share their medical data (Markets and Markets)

The healthcare sector should expect a higher usage of cloud resources, such as ML, natural language processing, and deep learning.

As of 2021, 57% of businesses using AI/ML used the technology to improve customer experience (Algorithmia)

Algorithms and ML enable computers to predict patterns, evaluate accuracy, and continually optimize the process.

A computer’s speech recognition capability and a smartphone’s ability to geotag video content before sharing are examples of ML.

Use case 2020 2021 Change Generating customer insights/intelligence 37% 50% ↑ 13% Improving customer experience 34% 57% ↑ 23% Retaining customers 29% 31% ↑ 2% Interacting with customers 28% 48% ↑ 20% Recommender systems 27% 27% – 0% Detecting fraud 27% 46% ↑ 19% Reducing customer churn 26% 22% ↓ 4% Acquiring new customers 26% 34% ↑ 8% Increasing customer loyalty 20% 40% ↑ 20% Increasing long-term customer engagement 19% 44% ↑ 25% Building brand awareness 14% 31% ↑ 17% Other 15% 1% ↓ 14%

Google’s deep ML technology is claimed to be 99% accurate (Google AI Blog)

It is also shown to be more effective than human pathologists at detecting metastatic breast cancer.

ML allows Oxford University’s AI system to read lips at a 93% accuracy level (BBC)

This makes the system more accurate than human lip readers.

Google uses global AI technologies to process 6.9 billion daily search queries (techjury)

AI technology makes searching and organizing big data sets possible.

When conventional methods of storing and collecting big data fail, AI technology takes the reins and processes the billions of search queries search engines receive daily.

AI Challenges & Predictions

Job loss is a primary concern for AI skeptics (Tractica)

AI progress comes with its fair share of ethical, business, and practical concerns.

These include job loss and the ethical implications of computer integration with conscious thought.

Elon Musk warns that AI services could overtake humans in 2025 (Independent)

Elon Musk is best known for electric cars and rocket ships. But he’s also an investor in one of the world’s fastest-growing AI startups: OpenAI. This makes it noteworthy that Musk wonders whether AI will be sentient in the coming years.

Around 3 in 4 CEOs worry about limited transparency in the AI market (PwC)

A 2017 survey found that 76% of CEOs worry about the lack of transparency and the potential for skewed biases in the global AI market.

4 in 10 executives believe AI is prohibitively expensive (Harvard Business Review)

However, 40% of executives agree that advanced AI technologies and the experts who run them are currently too expensive to implement.

Key Takeaways

The AI market clearly has a promising and profitable future.

While concerns over job loss exist, there is data to indicate that the technology will create more startups and jobs than it destroys.

One way or another, AI is most definitely part of the present. And the future.

For more related content, check out Top AI and Machine Learning Trends and Trending Machine Learning Startups.

Source: Explodingtopics.com | View original article

Source: https://www.golocalprov.com/news/ri-health-insurance-companies-requesting-rate-increases-of-20-to-28

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