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70 Vital Artificial Intelligence Statistics: 2021/2022 Data Analysis & Market Share

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.

key artificial intelligence 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.

  • $15.7 trillion – projected AI contribution to the global economy by 2030. This represents a 26% increase in global GDP for the same period.  (World Economic Forum, 2020)
  • The AI industry market size is expected to be worth $266.92 billion by 2027. (Fortune Business Insights, 2020)
  • The forecast for the AI market’s compound annual growth rate from 2020 to 2027 is 33.2%. (Fortune Business Insights, 2020)
  • North America is expected to hold the largest AI market share. (Fortune Business Insights, 2020)
  • The retail industry is expected to experience significant growth, with 80% of business executives claiming that their businesses will adopt AI technology between 2020 to 2027. (Fortune Business Insights, 2020)
  • Global AI-driven hardware market revenue is foreseen to grow to $234.6 billion in 2025. (Statista, 2020)
  • The limited number of AI experts is seen to be a major obstacle to the AI market’s growth. (Allied Market Research, 2018)

companies to adopt AI technology

AI Usage Statistics

AI software has found numerous applications in the business world and among consumers. These tools are commonly being utilized for communicating 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. (Pew Research Center, 2017)
  • 22% – users who say they prefer to speak to voice assistants than type. (Pew Research Center, 2017)
  • 26% – users who say they use voice assistants as a way to remotely connect with other systems. (Pew Research Center, 2017)
  • 39% – users who say voice assistants respond to their commands accurately. (Pew Research Center, 2017)
  • A total of 4.2 billion voice assistants were used in devices globally in 2020. (Statista, 2019)
  • 75% – senior IT executives from different countries who agree that adopted AI technology will enhance network security (Statista, 2020)
  • The use of AI technology for environmental applications can help increase the net employment growth rate globally.  (Statista, 2020)
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Cumulative Global AI Revenue Forecast 2016–2025

Ranked by use case (In Millions of Dollars)

Cumulative Global AI Revenue Forecast 2016–2025
Machine/vehicular object direction/identification/avoidance : 8986.57

Machine/vehicular object direction/identification/avoidance

Cumulative Global AI Revenue Forecast 2016–2025
Static image recognition, classification and tagging: 7642.83

Static image recognition, classification and tagging

Cumulative Global AI Revenue Forecast 2016–2025
Patient data processing: 7259.35

Patient data processing

Cumulative Global AI Revenue Forecast 2016–2025
Algorithmic trading strategy performance improvement: 6394.41

Algorithmic trading strategy performance improvement

Cumulative Global AI Revenue Forecast 2016–2025
Localization and mapping: 5950.55

Localization and mapping

Cumulative Global AI Revenue Forecast 2016–2025
Predictive maintenance: 5713.6

Predictive maintenance

Cumulative Global AI Revenue Forecast 2016–2025
Prevention against cybersecurity threats: 5385.1

Prevention against cybersecurity threats

Cumulative Global AI Revenue Forecast 2016–2025
Converting paperwork into digital data: 5370.85

Converting paperwork into digital data

Cumulative Global AI Revenue Forecast 2016–2025
Intelligent recruitment and HR systems: 5295.03

Intelligent recruitment and HR systems

Cumulative Global AI Revenue Forecast 2016–2025
Medical image analysis: 5111.31

Medical image analysis

Source: Tractica

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AI in Business Statistics

Current artificial intelligence 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.

  • 52% of executives say AI tools have boosted productivity. (PwC, 2021)
  • 48% of respondents handle data quality issues by using data analysis, machine learning, or AI tools. (O’Reilly, 2020)
  • 25% of business executives state that adopting AI technology has fully enabled their business processes. (PwC, 2021)
  • 50% of business executives said that using AI has helped them achieve their cost savings goal. (PwC, 2021)
  • 53% of businesses have innovated their products and services using AI technology. (PwC, 2021)
  • 54% of company executives agree that AI plays a significant role in improving the decision-making process. (PwC, 2021)
  • 67% of US-based companies agree that adopting AI technology has helped them create better customer experiences. (PwC, 2021)
  • 86% of executives claim that AI is going to be a “mainstream technology” at their companies in 2021. (PwC, 2021)
  • Falling behind AI adoption is one of the major concerns among 12% of CX leaders and 11% of mainstream companies in 2020. (Adobe, 2020)
  • 39% of large organizations planned to invest in AI and/or machine learning tools in 2020 compared to 28% of mainstream companies. (Adobe, 2020)
  • 39% of large organizations planned to invest in AI and machine learning in 2020 compared to 26% of mainstream organizations and 28% of CX leaders. (Adobe, 2020)

AI as mainstream technology

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

  • 79% of survey respondents agree that AI adoption in marketing and sales has helped increase business revenue. (McKinsey & Company, 2020)
  • The adoption of AI in sales is commonly utilized in enhancing customer service analytics and customer segmentation. (McKinsey & Company, 2020)
  • AI-based strategies have helped enterprises generate at least 20% Earnings Before Interest and Taxes or EBIT. (McKinsey & Company, 2020)
  • 10% of US jobs can be lost from the use of automation. (Forrester, 2019)
  • According to sales leaders, AI adoption in sales was expected to grow by 155% in 2020. (Salesforce, State of Sales Report, 2018)

Source: Salesforce, State of Sales Report

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 reach their customers best. 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.

  • 40% of SMBs have not invested in any emerging tactics to advance their digital transformation. (Adobe, 2020)
  • 28% of top-performing organizations use AI for marketing. (Adobe, 2018)
  • 28% of mainstream organizations and 25% of CX leaders planned to prioritize targeting and personalization in 2020. (Adobe, 2020)
  • 64% of large organizations leverage the power of AI to automate specific marketing-related activities–a significant 20% increase from the previous year’s number. (Adobe, 2020)
  • 29% of large organizations utilize AI and bots to drive campaigns and experiences; meanwhile, only 12% of SMBs do the same. (Adobe, 2020)

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. 

  • 27% of consumers around the world say AI can deliver better customer service than human agents. (PEGA, 2019)
  • 73% of global consumers are open to the use of AI by businesses, provided they make life easier. (PEGA, 2019)
  • 38% of consumers say AI will boost customer service. (PEGA, 2019)
  • 95% of customer service interactions will be powered by AI by 2025. (Finance Digest, 2017)

Source: Ecommerce Trends 2020 Survey Report

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.

  • 72% of decision-makers say AI will be the business advantage of the future. (PwC, 2017)
  • 51% of executives say their AI goal is to enhance the functions, features, and performance of their products. (Harvard Business Review, 2018)
  • 63% of global consumers believe that AI can help resolve complex problems in modern society. (PwC, 2017)
  • 59% of executives say AI can improve big data use in their organizations. (PwC, 2018)
  • Using AI in personalizing and segmenting customer communications helps increases click-through rates by 14% on average. (EU Business School, 2020)

AI can help improve the use of managerial expertise

Most Popular Artificial Intelligence Software

  1. Cloud Machine Learning Engine. Google’s machine learning platform for data of all sizes using the TensorFlow framework. Read about what it can do for you in our Cloud Machine Learning Engine review.
  2. Azure Machine Learning Studio. The Azure Machine Learning Studio’s interactivity is its main attraction, featuring drag-and-drop operations on datasets. Learn how it all works in our Azure Machine Learning Studio review.
  3. Salesforce Einstein. A powerful AI member of the Salesforce family that processes and analyzes data to predict trends for business purposes. We talk more about what else it offers in our Salesforce Einstein review.
  4. IBM Watson. Watson from IBM is an enterprise-level AI application that allows organizations to discover business opportunities with AI and machine learning. We discuss the gist of what this AI can do in our IBM Watson review.
  5. Apache PredictionIO. An open-source AI platform that can publish machine learning engines to the web as a service. Discover its capabilities in our in-depth Apache PredictionIO review.

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.

  • 16% of CX leaders are reluctant to migrate to cloud-based services–the same thing goes for 15% of large organizations and 14% of SMBs. (Adobe, 2020)
  • 4% of businesses are held back from adopting AI technology by legal concerns, risks, or compliance issues. (O’Reilly, 2020)
  • 47% of SMBs and large organizations agree that an inadequate budget is a major obstacle in adopting digitization; 30% of CX leaders think the same. (Adobe, 2020)
  • 46% of respondents feel threatened AI potentially causing disruption in their business operations. (PwC, 2020)
  • 23% of businesses do not recognize the need for AI. (O’Reilly, 2020)
  • 18% of respondents believe that the lack of skilled individuals holds companies back from adopting AI. (O’Reilly, 2020)
  • 8% of businesses cite technical infrastructure challenges as one of the main reasons behind not adopting AI technology, (O’Reilly, 2020)

Source: PwC 2021 AI Predictions

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.  

  • 97 million – number of global jobs created by AI in 2025. (World Economic Forum, 2020)
  • 85 million – number of global jobs displaced by AI in 2025. (World Economic Forum, 2020)
  • 50% of global employees will need reskilling by 2030. (World Economic Forum, 2020)
  • 16% of US jobs may be replaced by technologies like machine learning, AI, robots, and automation by 2025. (Forrester, 2019)
  • Robots can take over up to 20 million factory jobs in 2030. (BBC News, 2019)
  • 36 million Americans whose jobs have high exposure to automation can have 70% of their tasks done by robots by 2030. (International Banker, 2020)

Source: Brookings Institution 2019

The Impact of COVID-19 on AI Adoption and Usage

The coronavirus pandemic has halted business operations on a global scale. To fill in the gaps left by the reduced workforce and to further reinforce remote work operations, businesses have turned to AI and machine learning technology. Although the adoption of AI has indeed helped a lot of businesses, there are also instances where AI models were not able to deliver their best.

  • 61% of high-performing companies have increased their investment in AI and machine learning technology. (McKinsey & Company, 2020)
  • Healthcare systems and services, including pharmaceutical companies, have increased their investment in AI and machine learning technology the most amid the pandemic. (McKinsey & Company, 2020)
  • AI models that companies have adopted since the pandemic have misperformed, especially in marketing and sales (32%), product and/or service development (21%), and service operations (19%). (McKinsey & Company, 2020)

McKinsey, The State of AI in 2020

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.

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.

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.

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 a difference when it comes to sales. This new use of the tech could only result in an expanded artificial intelligence market share.

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.

 

References:

  1. Abramovich, G. (2018, February 7). Study Finds Investments In Customer Experience Are Paying Off. Adobe
  2. Adobe (2020). Experience Index 2020 Digital Trends. Adobe
  3. Allied Market Research (2018, July). Artificial Intelligence (AI) Market by Technology (Machine Learning, Natural Language Processing, Image Processing, Speech Recognition), and Industry Vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others) – Global Opportunity Analysis and Industry Forecast, 2018-2025. Allied Maret Research
  4. Baccala, M., Curran, C., Garrett, D., Likens, S., Rao, A., Ruggles, A., & Shehab, M. (2018). 2018 Ai Predictions. PwC
  5. Balakrishnan, T., Chui, M., Hall, B., & Henke, N. (2020, November 17). The state of AI in 2020. McKinsey & Company
  6. Cellan-Jones, R. (2019, June 26). Robots ‘to replace up to 20 million factory jobs’ by 2030. BBC News
  7. Davenport, T. & Ronanki, R. (2018, January-February). Artificial Intelligence for the Real World. Harvard Business Review 
  8. EU Business School (2020, March 13). 5 Benefits of AI for Business. EU Business School
  9. Finance Digest (2017, March 10). AI will power 95% of customer interactions by 2025. Finance Digest
  10. Fortune Business Insights (2020, July). Artificial Intelligence (AI) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising, & Media, Manufacturing, and Others), and Regional Forecast, 2020-2027. Fortune Business Insights
  11. International Banker (2020, December 22). THE FUTURE OF WORK: HOW JOBS WILL CHANGE IN THE COMING DECADE. International Banker
  12. Kande, M. & Sonmez, M. (2020, October 28). Don’t fear AI. It will lead to long-term job growth. World Economic Forum
  13. Le Clair, C. (2019, April 23). How Automation Is Impacting Enterprises In 2019. Forrester
  14. Magoulas, R. & Swoyer, S. (2020, February 12). The state of data quality in 2020. O’Reilly
  15. O’Reilly (2020). AI Adoption in the Enterprise 2020. O’Reilly 
  16. PEGA (2019, March). What Consumers Really Think of AI: Infographic. PEGA 
  17. Pew Research Center (2017, December 12). Nearly half of Americans use digital voice assistants, mostly on their smartphones. Pew Research Center
  18. PwC (2020). 2020 AI Predictions: Get on board with boring AI. PwC
  19. PwC (2021). AI predictions 2021. PwC
  20. PwC (2017). Bot.Me: A revolutionary partnership. PwC
  21. Salesforce (2018). THIRD EDITION State of Sales. Salesforce
  22. Statista (2020). Artificial Intelligence. Statista
Nestor Gilbert

By Nestor Gilbert

Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Through his work, he aims to help companies develop a more tech-forward approach to their operations and overcome their SaaS-related challenges.

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