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  • 50+ Vital Artificial Intelligence Statistics: 2019 Data Analysis & Market Share

50+ Vital Artificial Intelligence Statistics: 2019 Data Analysis & Market Share

Category: B2B News

As machine learning continues to be employed in business processes, AI has found its way into the heart of businesses by enabling machines to perform tasks the way humans do. This is apart from the fact that AI-enabled solutions are able to adjust to situations while learning from experience. Artificial intelligence software employs advanced technologies such as natural language processing and deep learning, making them trainable in carrying out tasks. Such systems accomplish these by being able to recognize patterns in high volumes of data.

If you are planning to develop or shop for a software system with AI capabilities like top data analytics tools, knowing where the industry is heading is a must. Here, we have compiled a list of the most pertinent AI statistics to help you know more about the technology and the tools that use them. Given the current artificial intelligence market size, the statistics are wide and varied but can lend to you clues to the factors shaking up this technology niche.

AI statistics

AI Market Statistics

The artificial intelligence (AI) software market has been expanding at breakneck speed: the latest artificial intelligence market forecast, for example, shows that the industry is driven by the uptick in the category’s use cases. However, growth is not confined to the software industry as AI is also expected to leave a positive economic footprint. The following are key artificial intelligence market statistics that you should know.

AI Usage Statistics

AI software has found numerous applications in the business world and among consumers. These tools are commonly being utilized to communicate with mobile devices, coming in the form of a variety of technologies such as voice assistants and chatbots. Organizations have likewise reaped the benefits of these solutions, making areas in sales, marketing and customer service more effective in the process.

  • 55% – users who cite hands-free device interaction as the main reason for using voice assistants. (pweresearch.com)
  • 22% – users who say they prefer to speak to voice assistants than type. (pewresearch.com)
  • 26% – users who say they use voice assistants as a way to remotely connect with other systems. (pewresearch.com)
  • 39% – users who say voice assistants respond to their commands accurately. (pewresearch.com)

Cumulative Global AI Revenue Forecast 2016-2025

Ranked by use case (In Millions of Dollars)

Static image recognition, classification and tagging

Algorithmic trading strategy performance improvement

Efficient, scalable processing of patient data

Predictive maintenance

Object identification, detection, classification, tracking

Text query of images

Automated geophysical feature detection

Content distribution on social media

Object detection and classification, avoidance, navigation

Prevention against cybersecurity threats

Source: Statista.com

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AI in Business Statistics

Current artificial market research reflects that even as many companies lag in AI adoption, others have embraced the technology, finding innovative use cases for it. The use of artificial intelligence in business applications include areas such as marketing, customer service and sales, which have previously been known to involve labor-intensive and grueling processes. AI use has resulted in improved productivity and profitability. For instance, current business intelligence statistics reflect the steady rise in the market for such products, making it safe to say that the future looks bright for the technology.

  • 54% of executives say AI tools have boosted productivity. (pwc.com)
  • 40% is the projected increase in labor productivity from AI use. (accenture.com)
  • 47% of companies that are digitally mature say they have a defined AI strategy. (cmo.com)
  • 61% of business professionals say machine learning and AI are their organization’s most significant data initiative. (globenewswire.com)
  • 71% of executives say AI and machine learning are game changers. (globenewswire.com)
  • 61% of executives with defined strategies say AI can be used to single out opportunities using data.(narrativesscience.com)

AI in Sales Statistics

Companies have proved that the use of AI greatly improves their sales processes. These tools make use of algorithms to make recommendations to customers, come up with sound business forecasts and even advertise their products through a variety of channels, including social media and email. Today’s AI tools are also able to monitor consumer behavior, online activities and preferences, making it possible for businesses to sell their products and services more effectively. This is evidenced by artificial intelligence in business tendency that indicates the massive use of AI.

Impact of AI Use on Sales

  • 60% to 70% – call time reduction from AI use. (hbr.org)
  • 40% to 60% – cost reductions from AI use. (hbr.org)
  • 25% of customer service interactions will be handled by chatbots by 2020 (Gartner)
  • 30% of B2B businesses will use AI to reinforce at least one sales process by 2020. (Gartner)
  • 10% of US jobs can be lost from the use of automation. (forrester.com)

How Much Time Do Sales Reps Spend on Tasks in a Week?

Administrative tasks

%

Connecting with clients or prospects in person

%

Service tasks

%

Connecting with clients or prospects virtually

%

Down time

%

Traveling

%

Internal company meetings

%

Training

%

Source: salesforce.com

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AI in Marketing Statistics

AI has become a very important component of marketing, spawning the term AI marketing in the process. This involves the use of AI to help businesses decide on how to best reach their customers. The main goal of the process is, of course, to boost targeting, personalization and customer experience. This is achieved with the use of customer data as a basis. AI use in top marketing analytics tools usually involves search engines, information filtering/analysis, search engines, image recognition and visual search, sentiment analysis and social listening.

  • 64% of B2B marketers consider AI as important to their sales and marketing strategy (everstring.com).
  • 63% of B2B marketers do not use AI (everstring.com).
  • 13% of B2B marketers are confident with their knowledge of AI. (everstring.com)
  • 28% of top-performing organizations use AI for marketing. (cmo.com)
  • 71% – percentage of B2B marketers who are interested in using AI for personalization. (everstring.com)
  • 59% of B2B marketers expect to use AI in identifying prospects. (everstring.com)
  • 33% of marketers say the application of AI in their current workflow is the greatest obstacle to integration. (brightedge.com)
  • 60% of marketers say AI has been useful in data strategies. (everstring.com)

AI in Customer Service Statistics

Customer service is another area where AI has been making a difference. The technology is now being used as both reinforcement and replacement for human agents. What’s good about this is that it minimizes costs while further enriching customer experience. Many businesses have been enjoying this benefit by using a variety of AI-powered tools, among them top live chat software. While AI still has its limitations, it is now able to process customer requests that previously were handled by human agents. AI technology has found its way into a number of customer service processes, including call receiving and routing. 

  • 78% of brands have already or are planning to implement AI by 2020. (oracle.com)
  • 27% of consumers around the world say AI can deliver better customer service than human agents. (pega.com)
  • 73% of global consumers are open to the use of AI by businesses provided they make life easier. (pega.com)
  • 43% of millennials are willing to pay a premium for a hybrid human-bot customer service channel. (pwc.com)
  • 38% of consumers say AI will boost customer service. (pega.com)

Most Important Benefits From AI-Powered Solutions

predictions linked to customers, business health and machines

%

Automation of manual/repetitive tasks

%

Monitoring and alerts to provide assessments on the state of your business

%

Increase quality of customer communications

%

Recommendations related to internal issues/customer facing efforts

%

Others

%

Source: nrbii.com

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Benefits of AI Adoption Statistics

The use of AI offers a myriad of benefits—there is no denying this. For companies, AI technologies offer the gift of automation, which improves productivity and efficiency, leading to increased bottom lines and more jobs. Evidence of this is the continued artificial intelligence market growth that we’re witnessing. Also, you need only look at current CRM software statistics to see how AI-powered platforms have been performing so far. It likewise helps humans focus more on important matters by automating otherwise repetitive processes. These and more are the reasons why businesses are increasingly using AI to boost their processes. However, there are things to consider when purchasing BI software or other solutions.

  • 75% of businesses say AI will allow them to move to new ventures and other businesses. (forbes.com)
  • 72% of decision-makers say AI will be the business advantage of the future. (pwc.com)
  • 51% of executives say their AI goal is to enhance the functions, features and performance of their products. (hbr.org)
  • 79% of executives say AI will make work easier and more efficient. (eiuperspectives.economist.com)
  • 59% of executives say AI can improve big data use in their organizations. (pwc.com)

Obstacles to AI Adoption Statistics

Despite the huge benefits that AI offers, a considerable number of businesses continue to shy away from the technology as they continue to be apprehensive about how it could impact their organizations. These reasons, although misplaced, are but a natural reaction to anything new. And then there is the matter of organizations refusing to abandon their existing workflows and processes.

  • 76% of CEOs are most concerned with AI adoption’s lack of transparency and potential for bias. (pwc.com)
  • 77% of CEOs say vulnerability and disruption to their businesses could increase with AI and automation (pwc.com)
  • 40% of executives say that the high price of deployment is an obstacle to AI initiatives. (hbr.org)
  • 37% of executives say that managers’ lack of understanding of cognitive technologies hampers AI adoption. (hbr.org)

AI’s Impact on Employment Statistics

Although centuries away from SkyNet, today’s AI platforms have been making steady strides in making processes free of human intervention. However, with these benefits come potential job losses from AI use. Automation has become the new norm in a number of business processes such as accounting, marketing and sales as developers continue to find ways to expand AI automation capabilities.  

  • 16% of US jobs may be replaced by technologies like machine learning, AI, robots and automation by 2025. (forrester.com)
  • 48% of experts say digital agents and robots will displace both white- and blue-collar employees. (pewresearch.com)
  • 54% of EU jobs are at risk of computerization. (bruegel.org)
  • 9% of new US jobs will be created by tech like AI, robots, machine learning and automation by 2025. (forrester.com)
  • 40% – percentage of labor productivity increase from AI technologies. (Accenture)

Employees' Future Concerns Over AI

I will end up relying on robots (31%) A robot will take my job (31%) Robots will play a bigger role in the military (20%) Don't know (18%) My friends will date robots (5%) Others (3%)

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What Do These Figures Mean? Getting the Most Out of AI

Despite the challenges that come with the implementation of AI, companies should embrace technology, which can greatly improve their standing in their respective markets. Leveraging these tools can also give a company a competitive edge by using it to boost core corporate functions. The following are tips on how to successfully maximize the benefits of AI.

1. New Tech, New People

To successfully use AI, you need to hire new talent—both technical and managerial. This is because the technology is bound to require previously unheard-of job positions so that businesses may be able to add the technology in the corporate mix. Only when you successfully integrate AI into your processes and workflows will you be able to realize its full potential, and you need individuals with the right skills to do this.

2. Establish a Strong Digital Base

Contrary to what you may think, AI is not a tool for digitization but rather a critical appendage of it. Remember that AI works best when you have access to high-grade information. A company’s digital foundation, however, is not confined to data. It includes all digital equipment and assets, along with their respective uses.

3. Focus on Growth, Not Cost Reduction

Some companies view AI as a means to reduce costs but it can do much more than that. Many retailers use AI to expand their markets, which results in growth. When used across a company’s entire tech stack, AI can really make the difference when it comes to sales. This new use of the tech could only result in an expanded artificial intelligence market share.

4. Be Willing to Change Business Goals

If you’re planning to use AI, you should be ready to make changes in your long-term goals. Migrating to an alternative business model may result in new revenue sources, which is always a good thing.

By Jenny Chang

Senior writer at FinancesOnline who writes about a wide range of SaaS and B2B products, including trends and issues on e-commerce, accounting and customer service software. She’s also covered a wide range of topics in business, science, and technology for websites in the U.S., Australia and Singapore, keeping tabs on edge tech like 3D printed health monitoring tattoos and SpaceX’s exploration plans.

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