- Siri
- Alexa
- Google Assistant
Artificial Intelligence Key Statistics
AI will only continue to expand. The II will have an impact on everyone in every industry around the world. Here are some key statistics about artificial Intelligence that you should know. The global AI technology market will explode in the next few decades, with a market value of $190.61 Billion by 2025. AI technology is projected to grow at a rate of 33.2% per year between 2020 and 2027. By 2030, China is expected to be the global leader in AI, with a market share of 26,1%. The biggest reason why the AI market in the world doesn’t grow faster is the lack of education and training. AI is expected to lead to a 26% increase ($15,7 trillion) in global GDP (gross national product) by 2030. Increased profitability and consumption will be the main drivers of the $15.7 trillion growth in GDP by 2030. AI will be a part of everyday life in the future. It’s the truth.What are the consequences of artificial intelligence on businesses?
Businesses face both an opportunity as well as a challenge with the new AI technologies. Here’s how AI will affect business in the future.AI Benefits for Businesses
AI benefits companies in many ways. AI can help companies to automate tasks that previously required humans.- Productivity increases
- Cost reductions
- 58% of B2B companies
- 42% of B2C companies
Impacts Of AI On The Workforce
The largest impact that AI will make is on the current workforce. AI will automate tasks and even entire jobs that humans have previously done. This will have both a:- Positive impact
- Negative impact
Negative Impacts
It’s no secret the most significant negative impact AI will have on the workforce is eliminating entire jobs. 38% of people expect AI technologies to eliminate jobs at their current workplace altogether in the next three years. 13% of people expect AI automation to eliminate a significant number of positions in the same period. The biggest industry to take a hit will be manufacturing. By 2030, more than 20 million manufacturing jobs globally could be lost to AI-powered robots. That’s approximately 8.5% of the global workforce who will need to:- Look for new work
- Develop new skills to find employment in other sectors
Positive Impacts
But AI isn’t all bad. There are some positive impacts that it will have within lots of different industries. About 95% of executives have said that AI has already positively impacted their industry and business. This means that companies are likely to invest more money into AI technology in the future. Lots of CEOs are excited about the introduction of AI into the business world as well. 63% of CEOs predict that AI will have a very positive impact on creating new jobs, like when the internet first became widely available. This is also supported by the most recent data in 2020. In 2020, AI eliminated 1.8 million jobs globally but created 2.3 million new jobs. That’s a net gain of about 500,000 new jobs available, which is a huge positive. By 2025, it’s predicted that there will be a job demand of 97 million people in AI-related industries. This includes:- AI and Machine learning specialists
- Process automation specialists
- Big data specialists
- Data scientists and data engineers
- Analytics specialists
How Is Artificial Intelligence Used In 2023?
Artificial Intelligence will make a big difference in the future. But what about right now?Personal Use
Smart devices powered by AI have become extremely popular. People love the idea that you can have a “personal assistant” at home available whenever you need it.Voice Assistant
Voice assistants are making the biggest impact in our lives in terms of AI technology. Over 95% of smartphone users said they use the built-in AI-powered voice assistant. Almost half (40%) of smartphone users said they use voice search on their phones at least once per day. Voice assistants have made phones even more convenient, and many people are taking advantage of them. As of 2021, there are about 4.2 billion devices with AI-powered assistants. By 2024, this number is expected to double, with 8.4+ billion devices powered by AI assistants. Who has the market share on AI voice assistants? Company & AI AssistantAI Market Share (%) Apple (Siri) 36% Google (Google Assistant) 36% Microsoft (Cortana) 25% Amazon (Alexa) 19% Apple and Google dominate the AI market with a joint total market share of 72%. This makes sense as the IOS and Android operating systems control 99% of the global phone market. But Amazon’s Alexa and Microsoft’s Cortana are catching up in the AI voice assistant race. Alexa controls 25% of the voice assistant market, and Cortana holds about 19% of the total market. The popularity of AI assistants is expected to increase significantly as they become more usable in the future. We are only at the beginning stages of what voice assistants can do!Smart Speakers
Smart speakers have become one of the best use cases for AI. You no longer need to select songs from your phone or tablet manually. Just tell the speaker which song or even the type of music you want to listen to, and it will play it for you automatically. Amazon and Google are the is the clear leaders in the smart speaker market. But there are lots of competitors catching up quickly. So, how many people actually have smart speakers in their homes?- Over 45% of US households currently own a smart speaker.
- 26% of US households said they planned to purchase a smart speaker soon.
Professional Use
What about professional use? This is how people are using AI in their everyday jobs and workplaces.AI Integration In The Business World
There is no doubt that AI has penetrated the business world. 35% of businesses used AI in some form as of 2021. 85% of business owners and executives said they are considering making it a strategic priority to invest in AI this year. That means over 1/3 of businesses have already adopted AI into their everyday business practices, and many more are strongly considering it for this year. What’s the biggest motivator? A better experience for customers. 40% of businesses say that customer experience is the top motivator for investing in artificial Intelligence. This makes sense because AI currently has the most practical business potential with online customer experience.AI Integration In Marketing, Customer Service & Sales
If you work in- Marketing
- Sales
- Customer service
- AI-powered chatbots
- Predictive behavior analysis
- Hyper-personalized customer experience
What Are The Challenges That Can Stop Companies From Investing In AI?
Investing in AI technology is not all rainbows and sunshine. There are some things that business owners and executives are concerned about. Here are the top 3 most significant challenges that companies worry about: Challenges Of Investing In AIPercentage (%) Staff Don’t Have Necessary Skills 56% The Future Of AI Is Unknown 42% Don’t Know Where To Invest 26% The AI industry is evolving so quickly that companies struggle to find employees to fill AI-related jobs. It is difficult for companies to find the right staff with the right skills to use AI effectively. AI relies on big data. This is especially true in the marketing and retail industries. With data privacy laws tightening up – the ability for businesses to access data that AI can use is a challenge. While it’s likely that these challenges will be overcome in the future, it’s hard to make the right decisions now about investing in AI technology.Artificial Intelligence Predictions
What will AI look like in the future? Here are some artificial intelligence statistics that offer some insight. Global AI usage will skyrocket over the next few years, reaching a potential market value of $190.61 billion by 2025. The future benefits that AI offers far outweigh the future risks. China is investing in AI the most for both personal and business use. Current artificial intelligence usage statistics show that by 2030, about 26.1% of China’s total GDP will come from AI technology. It currently contributes about 10% to their GDP. The US is expected to come in second, with AI contributing about 14.5% to its GDP in 2030. The United Arab Emirates is also looking to be a big future player in AI with usage statistics predicting about 13.5% of their GDP to come from AI. You could say that the AI technology race is on! B2B marketing executives are also bullish about AI usage. Over 80% say artificial Intelligence is likely to revolutionize their industry completely. If you are getting ready for a career change, then AI is a good sector to get into. Experts predict that the AI industry will be responsible for creating 9% of all future jobs in the US by 2025. It’s a fast-growing industry with a need for more experts.Wrapping It Up
Artificial Intelligence already has a big impact on our lives. And it’s only going to increase. AI offers so many benefits for both:- Personal use
- Business use