While we may not give it a lot of thought, most of our day-to-day activities are majorly influenced or assisted by artificial intelligence. Most of us already have our AI-powered smartphones on us just about all the time or rely on the likes of Alexa or Google Home. With so much of our daily lives directly impacted by AI, we’ve prepared some essential artificial intelligence statistics which will give you insight into this fascinating industry and its applications, as well as where it is going.
Up to 37% of enterprises have implemented artificial intelligence in their workplace in some form. This is a major improvement, especially when you consider that, in 2015, only 10% of organizations stated that they utilized AI in their workplaces.
While only a third of consumers stated that they used AI, the reality is quite different. One of the interesting facts about AI is that 77% of people use it one way or another but might not even be aware of it.
The vast majority of leading businesses say that they have invested in the AI market in the past or that they have ongoing investments at the moment. Nine out of 10 leading businesses have an ongoing investment in the market, with most of them coming from the financial services and healthcare sectors.
Statistics on artificial intelligence show that most business leaders are in favor of implementing the technology into their business strategies, with 72% stating that they find it to be advantageous for their business. 81% of employees further believe that AI can boost productivity in their workplace. Meanwhile, only 14.6% of companies say that they use AI extensively within their workplaces.
To get the best possible experience with businesses, more than 60% of customers state that they would share their data with AI. AI stats show that this percentage has increased since 2018 when 58% of customers were open to using AI.
The use of AI can be valuable for sales, where it helped reduce call times anywhere from 60% to 70% and decreased costs by up to 60%. Chatbot statistics further reveal that 15% of global customer care interactions are already being handled by chatbots, helping out sales forces everywhere. On the flip side, AI replacing jobs statistics show that up to 10% of US jobs can be easily replaced by automation.
(HBR, Startup Bonsai, FinancesOnline)
Almost half of businesses that use AI in some form report business cost reductions in the departments where they started using the technology. Moreover, most of them reported seeing growth in revenue after successfully implementing AI in their business strategies.
AI statistics show that while artificial intelligence is becoming more and more popular in various business aspects, only 28% of top organizations use it for marketing. However, 59% of marketers state that artificial intelligence has been useful in helping them use big data better, which explains AI growth in the last couple of years.
While this may not come as a surprise, one of the interesting facts about artificial intelligence is that up to a third of online customers say they would rather interact with AI customer service instead of human customer service while browsing online. Whether your customer service includes human agents or AI-based service, keep in mind that 41% of customers expect your website to have a live chat.
The overall machine learning funding in the first quarter of 2019 was $28.5 billion, topping even AI funding in the process. Machine learning statistics show that machine learning applications took the lead in funding with over $28 billion, followed by machine learning platforms supported by $14 billion in 2019.
AI adoptions statistics show that 3 out of 4 companies will rely on AI only if they trust and understand its analysis and results. Moreover, 83% state that they would deploy AI in their business only if they understood its algorithms.
While AI’s importance is undeniable, not all businesses seem to be that excited about implementing it into their strategies. Artificial intelligence statistics show that 37% of decision-makers think that the main problem with AI usage is their lack of expertise and failure to understand its algorithms.
There’s no surprise that Google is at the forefront of AI development. With an 89% accuracy, the tech giant’s Machine Learning Program is 16% more efficient than pathologists when detecting cancer.
(Google AI Blog)
While the business application of artificial intelligence can be beneficial for most businesses, artificial intelligence statistics show that up to 40% of executives think that AI expertise and technologies are way too expensive to be implemented in their workplaces.
Twenty-five countries are currently working on designing autonomous vehicles. Moreover, the autonomous vehicles market is worth $173 billion in global revenue. That means the market has shown an annual growth rate of 36%.
AI stats show that the vehicular detection and avoidance market is the largest sector that heavily relies on artificial intelligence. It is currently worth $8.9 billion, while the static image recognition market is in second place and is worth $7.6 billion.
Apple’s Siri might be the favorite voice assistant for 45.1% of US users, but it is also the most ineffective virtual voice assistant since its response accuracy is a baffling 68%. Amazon’s Alexa is a lot better at providing general information than it does in other categories, with a response accuracy of 93%. Finally, Google Assistant takes the lead with a response accuracy that goes up to 98%.
There’s no surprise that experts predict that the AI market is just going to keep growing. The industry is worth around $387.45 billion in 2022 and is expected to reach an astounding $1,394.30 billion in the next six to seven years.
(Fortune Business Insights)
According to artificial intelligence growth statistics, 4.2 billion voice assistants were used in 2020, and that number should double by 2024. Analytics forecast that there will be 8.4 billion employed virtual voice assistants in the next couple of years.
By now, we all understand that many companies using AI and ML find it to be lucrative and productive. On the other hand, only 15% of businesses are advanced ML users. With machine learning companies finding new uses of the technology, however, it’s no wonder that 49% of businesses are either exploring or planning on using it.
According to artificial intelligence growth statistics, AI usage in healthcare has been a huge hit in recent years and will continue to soar. It is expected that the market will be worth $194.4 billion by 2030.
It’s not all peaches and cream when it comes to AI. While it can be very useful and convenient in many industries, there is a downside to implementing it into businesses. AI career stats predict that 38% of US workers could be at risk of losing their jobs to AI. The rates are a bit lower in Germany (35%) and the UK (30%).
Moving on from the previous statistic, things are looking a bit brighter. Since AI seems to be taking the world by storm, it’s only natural we will need more and more specialists employed by AI development companies, such as data scientists, robot monitoring professionals, content curators, and automation specialists. AI statistics also show that this technology can boost labor productivity by 40%.
After going through some of the most important artificial intelligence statistics, it’s evident that the growth of artificial intelligence is unmatched. Meanwhile, many businesses are yet to embrace the technology not just in theory but in practice too and apply it to grow both their customer base and profits.
Sources: Business Wire, Statista, MCKinsey, FinancesOnline, HBR, Startup Bonsai, Gartner, Pega, IBM, VentureBeat, Salesforce, FinancesOnline, IBM, Fly Aps, Google AI Blog, AI Multiple, Fortune Business Insights, Globe Newswire, PWC, Forrester