27 Artificial Intelligence Statistics: What’s New in 2020?
Our world is developing super fast these days, don’t you think?
Things are getting closer to some sci-fi epics we see in the movies. The worlds of Blade Runner and Star Wars are gradually becoming a reality. It’s exciting and frightening at the same time.
What does that have to do with artificial intelligence statistics?
They will reveal to us how close to us this reality truly is. AI has managed to transform our world, and well… it’s awesome.
Let’s get to know some of the hottest AI stats first. They’ll lead the way:
- More than 80% of customer interactions will be done without humans by 2020.
- 75 countries are using AI technology for surveillance.
- Global AI market is expected to reach a revenue of $118.6 billion by 2025.
- AI usage grew by 270% in the past four years.
- AI augmentation will create $2.29 trillion of business value by 2021.
- 87% of companies that have adopted AI were using it to improve email marketing.
Many industries benefit from AI already. And many others will follow. Soon… But we’ll get to that later.
Now, we here, at Leftronic.com, love lists and we have come up with a great one for you today.
Let’s have a look:
Incredible Artificial Intelligence Facts
AI is used in various fields that we have today: business, medicine, sales, market analysis, and so many more. Nowadays we want (most!) things to happen faster… Automation is what drives us forward and is what AI has been primarily conceived for.
However, various other industries have seen the benefit and in a way transformed artificial intelligence to suit their needs.
Whether we want to admit it or not AI doesn’t always have the noblest causes. Artificial intelligence usage stats reveal that the business industry has adopted it the most and has integrated it into various markets.
It is not only used to increase sales but also to develop products and services. The main point of doing business is making products and services more attractive to customers, and artificial intelligence is one way to do so.
How much do you actually know about AI?
Are you aware of how massively we are actually influenced by AI?
Don’t worry, AI remains our friend and helper. Luckily, Skynet from Terminator 2: Judgement Day is still way off.
Still not sure? These AI stats will tell you everything you need to know about artificial intelligence today.
We start with:
Artificial Intelligence in Business
1. More than 80% of customer interactions will be done without humans by 2020.
The repetitive tasks that humans have been doing for a long time are now taken over by chatbots. While they are used in banking and delivery services, they have the highest usage rate in customer service. Future artificial intelligence usage statistics predict that by the year 2020, about 85% of customer interactions will be done solely by chatbots.
2. 72% of business leaders see AI as a significant business advantage.
The latest study by PwC reveals that business decision-makers feel really optimistic when it comes to using AI in the future. The artificial intelligence stats that they came up with showed that more than 70% of US business leaders believe that AI is fundamental and absolutely necessary for the development of future business opportunities.
3. Three-quarters of executives believe AI will help their companies move into new businesses.
With the aim of sustaining a competitive advantage within the market, 85% of executives believe that AI will give their companies a competitive advantage on the market. However, on average one in five companies have actually integrated artificial intelligence in some way within their business. Artificial intelligence facts and figures further emphasize that only one in 20 companies had incorporated an AI process, while just 39% of companies have an AI strategy in place. The largest companies (100,000 or more employees) are the likeliest to have an organized strategy.
4. AI technology could enhance business productivity by up to 40%.
The latest research coming from Accenture, conducted in 12 developed countries, revealed that incorporating AI technology within the business could double the economic growth rates of those countries by 2035. AI adoption statistics predict that people will start using their time much more effectively, which will result in a 40% increase in productivity.
5. AI increases sales numbers by 50% based on the number of leads.
A study conducted by Harvard Business Review recently revealed that incorporating AI in sales has proven to be extremely lucrative. Businesses that use artificial technology in sales have been able to increase the number of leads by 50% while shortening the call time by 60% to 70%. This, in turn, brings down costs by 40-60% by reducing the number of lost leads and deals. These facts about AI can be really useful for companies that deal with sales. What’s more, they will certainly influence the way they conduct business in the future.
6. AI augmentation will create $2.29 trillion of business value by 2021.
Gartner predicts that AI augmentation will surpass all other types of AI initiatives. By 2021, it is expected to reach a figure of $2.29 trillion in business value. In turn, this also means 6.2 billion hours of worker productivity globally. AI augmentation will not affect AI replacing jobs statistics.
The thing is, AI augmentation is defined as a human-centered partnership where both humans and AI are working together in tandem in order to enhance cognitive performance. Augmented intelligence allows people to benefit from this partnership and gain an advantage as well.
7. The number of robotic transactions increased in 2019.
According to the Robot Report, the number of robotic transactions reached the $10.1 billion mark already this year. The transactions only dropped in July 2019 after increasing by $1.1 billion in June 2019. Statistics about AI further reveal that certain multi-billion-dollar investments, for instance, the ones in Argo AI by Volkswagen and in Open AI by Microsoft, were the ones that got the total to skyrocket. In addition, there were 42 investments in the previous month alone, compared to 27 in the same month a year ago.
Artificial Intelligence in Marketing
8. 87% of companies that have adopted AI were using it to improve email marketing.
As AI usage statistics indicate, artificial intelligence adopters are trying to improve their email marketing campaigns by using AI. Currently, they are in the high 80s, percentage-wise, but the usage rate is expected to increase even further than that. Furthermore, 61% of marketers were also planning to use artificial intelligence in sales forecasting.
9. Top-performing companies are twice as likely to use AI for marketing.
The biggest current companies in the world are putting more and more faith in artificial intelligence when it comes to marketing. As artificial intelligence trends in marketing highlight, major companies have already seen the benefit of putting it to good use within their marketing campaigns. Top-rated companies are now using AI within their marketing campaigns 28% of the time, while their smaller peers use it about 12%.
10. Netflix saved $1 billion in annual revenue by improving its recommendation algorithm.
The streaming platform giant Netflix recently revealed that it avoided thousands of canceled subscriptions by improving its personalized recommendation algorithm. It should come as no surprise that Netflix has successfully acknowledged the trends in artificial intelligence and used them to better market its services.
Here’s the thing:
On average, users give up after 90 seconds when searching for a movie on the platform. But with the new changes, the company was able to accelerate the process and provide viewers with an offer closer to their taste. As a result, Netflix was able to save a lot of money on canceled subscriptions, which would have amounted to a massive $1 billion.
11. Most marketing professionals use AI for data analysis.
According to artificial intelligence statistics for 2018, most of the professionals worldwide use marketing-related AI for data research. Divided by region:
- 51% of users in North America
- 52% in Europe
- 49% in the Asia Pacific region
The second marketing-related AI usage on the list is on-site personalization, followed by optimization and testing, and email marketing.
12. 51% of marketers are already using AI, while 27% of them are planning to incorporate it within their digital marketing strategy.
Marketing strategists have been shy about admitting that they need to use AI technology in the past. However, as technology quickly evolved, they soon started coming round to the idea of adopting it. Artificial intelligence statistics for 2019 say that more than 50% of marketers have started using AI in their marketing campaigns, with more to join their ranks in the near future.
Here’s the deal:
AI is going to change the future of digital marketing in various ways. Predictions say that chatbots will play a much larger role, and content generation and curation will be much more efficient. However, the most important part has to deal with predictive analytics, which experts say will transform the digital landscape of marketing.
13. AI can hyper-personalize customer experience by analyzing profiles.
When it comes to marketing, AI growth statistics predict a much larger role for it in the future. First of all, personalization proved to be an important factor in 2018 and continues to be relevant. Furthermore, traditional marketing methods like direct mail and media advertising have lost their momentum and are deemed completely ineffective now.
Additionally, Accenture reports that 40% of consumers tend to switch brands due to a lack of personalization and trust. 43% of consumers are more likely to buy from companies with personalized customer experience. Artificial intelligence future trends predict that AI will be a massive factor in improving personalization and adding better content.
This is the key takeaway:
By 2020, as many as 90% of brands will be using some form of personalization to improve their services and make them more appealing to potential customers.
14. More than 80% of marketers think AI is an important trend in advertising.
According to the latest research, 82% of marketers agree that AI and ML (machine learning) are important factors that will shape the future of marketing. Further artificial intelligence statistics say 87% of them think using AI and ML will improve advertising performance. Marketers also expect the use of artificial intelligence in marketing to help identify prospective customers and improve overall marketing effectiveness.
And now we move on to:
Artificial Intelligence Market Stats
15. The global AI market expected to reach a revenue of $118.6 billion by 2025.
According to research by Tractica, the global artificial intelligence software market is expected to blossom in the next couple of years. AI statistics say that in 2018 alone the revenue increased by about $9.5 billion worldwide. Certain types of market usage include robotic processing automation, natural language processing, and machine learning.
16. The software market for AI is expected to hold the largest market share.
When it comes to future expectations about artificial intelligence, the software market for it will experience a larger boom. Due to a massive need for AI platforms today various types of software are being created. Whether they are interface applications or predictive and perspective applications that can provide advice and recommendations, artificial intelligence facts and statistics agree that the rapid evolution of the necessary software will continue. Additionally, the software platforms in question are mainly focused on tools and API framework.
17. Spending on cognitive and AI systems will reach $77.6 billion by the year 2022.
IDC predicts that future expenses related to cognitive and artificial intelligence systems will see an annual growth of 37.3% for the period between 2017 and 2022. The expenditure will eventually reach $77.6 billion, meaning that it will triple from the 2018 figure, which stood at $24 billion.
Statistics on artificial intelligence also reveal that during that period AI software will be the largest and fastest-growing technology category, encompassing about 40% of all cognitive and AI expenditures. It also predicts a five-year annual growth of about 43.1%.
18. Investments in AI startups and machine learning are rising in the US.
According to the research conducted by Crunchbase News, venture funding invested in artificial intelligence and machine learning startups in the US is rising. So far in 2019, a total of $6.62 billion have been raised. AI statistics show a total of $8.67 billion were raised in 2018. So, if the trend continues, we are well on our way to surpassing that number by the end of the year.
On the other hand, global funding has taken a massive dip. China, in particular, has seen a great decline in AI-related startup investments.
19. The North American AI chip market is growing at a staggering rate.
Increased data generation facilitated by the rapid growth of digital services has caused the AI chip market to blossom. Facts about artificial intelligence confirm that in 2018 the North American chip market accounted for $2.5 billion and had an expected CAGR of 32% for the period 2019-2027. If these calculations turn out to be true, the North American chip market will be worth a whopping $30.62 billion in 2027.
20. Artificial intelligence has the productivity and the GDP potential of a global economy.
PwC’s Global Artificial Intelligence Study suggests AI has revolutionary potential. Their artificial intelligence growth stats state that by 2030, 45% of total economic gains will come from stimulating consumer demand and product enhancement. Additionally, their predictions indicate that China will have the greatest economic gain. The country is expected to get a GDP boost of 26%, compared to 14.5% for North America.
This is huge!
In fact, it’s the equivalent of $10.7 trillion or almost 70% of the global economic impact.
Artificial Intelligence Usage Facts
Here we go:
21. Much of the US population is misinformed when it comes to AI usage.
Blumberg Capital has recently come out with a survey that studied how much Americans know about AI. In fact, as their stats on artificial intelligence say, exactly half of the people surveyed feel optimistic and are genuinely informed about AI. However, the other half are clueless about artificial intelligence and fear it.
About 5% of surveyed users also think that most of the services they use on a daily basis are powered by AI, while 26% of people think that they interact with AI at least once a day. The research also reveals that 50% of businesses have AI embedded within their business.
22. 75 countries are using AI technology for surveillance.
AI has found one of its biggest uses in surveillance. Many countries around the world have implemented AI technology in order to develop CCTV cameras. Actually, artificial intelligence statistics clearly say that 56 countries in the world use AI for smart city platforms. 64 countries have added face recognition software to it, while 52 use smart policing.
Interestingly, Chinese companies like Hikvision, Huawei, ZTE, and Dahua supply the necessary AI technology to 63 countries and certain firms from the US.
23. AI outperforms humans in copywriting trials.
JP Morgan Chase has announced that they have hired Persado, their newest AI partner, to help them create marketing content for their needs. This is probably one of the more interesting facts about artificial intelligence, but the initial tests were the real reason that prompted Chase to do it.
Here’s what happened:
Both a human marketing team and Persado were asked to create an alluring ad. Surprisingly, Persado performed much better, as more people clicked on the commercial the program created. What’s more, it actually gathered twice as many clicks.
It may come as a surprise, but Persado’s biggest advantage was the fact that it had more humanity in its messages!
24. Psychiatry is one of the few fields where AI has not shown great success.
AI has proven to be a major part of today’s world by being able to integrate itself into various spheres. Artificial intelligence forecasts have in a way predicted that one day AI will be able to become a part of psychiatry, as it is already successfully used in other fields of medicine. However, a survey of 791 inquired psychiatrists revealed otherwise. Only 3.8% of surveyed professionals were in favor of integrating AI and ML into psychiatry, while the rest were against it.
25. AI usage grew by 270% in the past four years.
The Stamford firm conducted its own CIO survey of 3,000 executives and came up with results that show a 270% usage rate growth over the past four years.
This is massive:
Artificial intelligence predictions say that by the year 2022, the global AI market will be worth about $6.14 billion. Additionally, according to the McKinsey Global Institute, it may even reach a number of $13 trillion in the next 12 years.
26. 18.8 million Amazon Echo devices were sold in 2017 alone.
According to a survey conducted by Morning Consult, more than 18 million Amazon Echos were sold in 2017. Additionally, the same survey reveals that 15.7 million Google Home devices have been purchased in the same period. The result of the survey tells us that according to artificial intelligence statistics from 2017, a total of 4.7 million people own both devices. This also means that 7% of the population aged 12 or higher owns an AI speaker device.
27. Men use AI more than women do.
An interesting point when it comes to artificial intelligence usage is that men use it more than women. According to the AI Index report, about 71% of artificial intelligence users are male. However, in the fast-paced way the world is changing, we can expect more girls to join in the fun. AI facts also say that the number of users will increase.
As you can see, AI is not so scary after all!
Don’t let HAL from Kubrick’s 2001: A Space Odyssey be the first thing that comes to mind when you think about AI. It is not a rogue computer program with its mind dead set on destroying the final remnants of humanity. Think of it more like a natural part of the world that we are embracing slowly but surely.
If you have read carefully all of the artificial intelligence facts given above, AI has the ability to change the world and reshape it into something better.
What does the future hold for artificial intelligence?
We don’t know for sure! But, we assume – a lot!
Different uses of AI and ML have allowed people to expand their way of thinking. What’s more, completely new uses for this technology are being developed each and every day.
Much of it simply boils down to helping people lead more comfortable lives, and our AI stats support this claim.
What we do know is that artificial intelligence is going to be used to promote safer living standards – from advancements in medicine to self-driving cars.
Clearly, business moguls are not going to stand idly by and let this opportunity go to waste. So we can expect to see more and more AI technology being implemented in marketing and finance.
We are facing a brave new world. It might come tomorrow or in 100 years. It is impossible to accurately calculate the artificial intelligence statistics of the future, but it is something that we are eventually going to face.
Have an amazing day, everyone.
See you around!
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