Artificial intelligence (AI) is undeniably transforming the landscape of various industries, as eloquently stated by Daniela Rus, director of MIT’s Computer Science and Artificial Intelligence Laboratory: “Dig into every industry, and you’ll find AI changing the nature of work.”
When delving into AI statistics, as of 2023, a significant 35% of businesses employ AI technologies. AI’s contribution to the global economy is expected to reach a staggering $15.7 trillion by 2030.
Furthermore, AI will be responsible for facilitating 15% of all customer service interactions worldwide, demonstrating its far-reaching and transformative potential across sectors.
AI Statistics: Latest Finding
- As of 2023, an estimated 35% of businesses use AI.
- By 2030, AI is expected to contribute $15.7 trillion to the global economy.
- AI will power 15% of all customer service interactions worldwide.
- 51% of e-commerce businesses employ AI.
- In 2020, the market size of artificial intelligence was valued at an impressive $51.08 billion.
- Experts predict that AI will replace up to 16% of existing jobs within the next decade, but new job opportunities will also arise.
- The AI market is expected to experience a remarkable Compound Annual Growth Rate (CAGR) of 33.2% from 2021 to 2028.
- By 2025, AI is set to create an astounding 97 million new jobs worldwide.
- The global AI software market is expected to reach an impressive $126 billion by 2025.
- The healthcare industry is predicted to become the largest adopter of AI technology by 2025.
- The AI market for cybersecurity is projected to reach a staggering $38.2 billion by 2026.
- The AI market for customer service is expected to reach an impressive $24.6 billion by 2026.
- The AI market for autonomous vehicles is set to soar to a remarkable $54.23 billion by 2026.
Source: (Gartner, Valuer, TextCortext)
Exploring the Multifaceted Impact of Artificial Intelligence (Facts)
- A significant 79% of polled individuals affirm that AI’s application in marketing and sales has boosted revenue.
- 80% believe AI will have a positive impact on market research.
- 81% of workers hold the view that AI enhances their job efficiency.
- By 2035, it’s projected that AI will elevate logistics productivity by over 40%.
- By 2025, automation is set to displace 85 million jobs globally.
- Integrating AI into the supply chain is expected to reduce: Future prediction errors by 20-50%, sales losses by 65%, and inventory overstocking by 20-50%.
- 51% of companies primarily employ AI for threat identification, 34% majorly for forecasting, and 18% for response mechanisms.
- As per manufacturers, the integration of AI slashes production time in half.
- An overwhelming 99% of B2B marketers consider AI chatbots as enhancers of lead conversion rates.
- 63% of marketers utilize AI tools specifically for email marketing initiatives.
- By 2027, 80% of retail executives anticipate their firms to adopt intelligent automation powered by AI.
- 71% of marketers feel that AI has the potential to assist in personalizing their marketing efforts.
AI in HR
- Approximately 67% of HR experts affirm that AI offers multiple advantages and significantly enhances the hiring process. (Tidio)
- The application of AI in HR spans four distinct sectors: descriptive, diagnostic, predictive, and prescriptive. (Visier)
- Wharton’s research suggests that AI’s deployment in HR holds immense potential, but also presents challenges. (Upenn)
In HR, AI advancements primarily fall into four categories: data-centric AI, model-centric AI, application-centric AI, and human-centric AI. (Gartner)
#1. 52% of companies accelerated AI adoption
The COVID-19 crisis has accelerated the adoption of AI by 52% of companies, according to credible sources such as PwC and Veritone.
This trend has been ongoing since 2020, with numerous high-performing companies investing more heavily in AI during the pandemic.
As a result, AI has now emerged as a mainstream technology in many firms, with a significant 86% of companies starting this in a PwC survey. These developments underscore the growing importance of AI in the corporate world and its potential to drive innovation and growth.
#2.71% of marketers believe AI could help them personalize their marketing campaigns.
A recent study cited by Marketing Dive reveals that an impressive 71% of marketers believe AI can enhance their ability to personalize marketing campaigns. With its potential to deliver personalized experiences, optimize campaigns, and target specific audiences, AI is increasingly seen as a valuable tool in the marketer’s toolkit.
In fact, marketers express confidence in AI’s ability to provide in-depth analysis of marketing campaigns. These findings highlight the growing importance of AI in the world of marketing and its potential to revolutionize the way businesses engage with customers.