Many view machine learning as synonymous with artificial intelligence. In reality, machine learning is but a subset of AI, making the latter perform tasks faster and more intelligently by providing it with learning capabilities. These benefits make machine learning a key component of AI, a fact that will be affirmed by the latest machine learning statistics.
As its growing importance warrants further investigation, we have compiled the most relevant and recent machine learning statistics around. This information will deepen your idea of what the technology does, what it can do and how it actually helps companies. With this machine learning data, you should have a better appreciation of the technology and even use the statistics we provided to decide whether or not adoption is in order.
The machine learning market size has been steadily growing. The most prominent segment of this market is the deep learning software category, which is expected to reach almost $1 billion by the year 2025. In addition, current machine learning market research has revealed that the market for AI-powered hardware and assistants are also expected to experience robust growth. Check out the following statistics to find out what’s cooking in the machine learning market.
Machine learning applications
Machine learning platforms
Computer vision platforms
Natural language processing
Source: statista.comDesigned by
Machine learning has a subset called “deep learning.” This technology is built around machine learning practice and is responsible for the creation of the platforms behind voice assistants, which include Siri, Echo and Google Assistant. Voice assistants have risen in popularity among consumers, following the explosion of mobile technology. Take a look at the following voice assistant statistics that prove this development.
The adoption of machine learning by enterprises has reached new heights as highlighted in a recent machine learning report. Adoption has been happening at break-neck speed as companies attempt to leverage the technology to get ahead of the competition. The financial sector is one of the most prominent adopters of the technology, which now leverages the power of AI software, These tools use machine learning to find, analyze and gain insights from data. Factors that drive the development include machine learning capabilities like risk management, performance analysis, and reporting and automation. Below are statistics on machine learning adoption.
Source: refinitiv.comDesigned by
Businesses around the world have embraced machine learning, with the majority of them claiming to be early adopters. The technology has been driving innovations in enterprises, allowing them to make smart processes using AI with learning capabilities. Among these are business intelligence solutions. All you have to do is take a look at current business intelligence statistics and you’ll get a pretty clear picture of this development. However, deployment of machine learning comes with challenges, which include lack of access to data and shortage of skilled individuals to address machine learning problems. Read the statistics below and find out more about the current state of machine learning and businesses.
Machine learning has found applications in a variety of business environments. The technology basically gives AI the ability to train a machine to learn. Machine learning’s origins can be traced back to the notion of enabling computers to learn without having to program them to perform tasks. Today, developers continue to find new uses for machine learning as you’ll find out in the statistics below.
Performance analysis and reporting%
Trading and investing idea generation (alpha generation)%
Source: refinitiv.comDesigned by
As marketing has become a more labor- and resource-intensive process, marketers’ use of machine learning does not come as a surprise. In fact, machine learning has reshaped marketing by improving the accuracy of lead scoring, creating dynamic pricing models and speeding up customer churn prediction, among many others. This is not to mention the benefits that top business intelligence solutions offer marketers. To help you find out more about the use of machine learning in marketing, we have gathered the most recent statistics on the topic.
Here comes the most interesting part. What is machine learning capable of so far? Today, machine learning has imbued artificial intelligence with more capabilities. For example, adding machine learning features to computers that can already process and analyze complex data sets are further improved to become business intelligence platforms. However, the technology is still in infancy that science fiction scenarios are still further down the road. Take a look at the following stats and see how machine learning has improved since its inception.
Machine learning has indeed reshaped the way businesses run their affairs–for starters that is. This relatively new technology has yet to achieve its full potential. Companies have read the writing on the wall, leading to the increasing adoption of the technology.
The market for machine learning is also on a steady growth path as applications increase by the day. You can confirm this by reading relevant AI statistics currently available
Many enterprises turn to machine learning to outdo the competition, with a majority of them claiming to have adopted the technology as early as now. The technology is now being employed in marketing with more potential uses in the pipeline.
The best thing about machine learning is the innovations that it has managed to create, among which include AI writing, lip-reading and even driving data collection and analysis. However, machine learning is not without its problems, the most pressing of which is the lack of skilled personnel to address machine learning problems.
FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.