Artificial intelligence may seem like a new edition to the business world– but it’s already transformed the way we sell B2B products and services. Early adopters of AI have achieved significant benefits – including increased efficiency, cost reduction, improved customer experience, revenue growth, and more.
But, many businesses still question the effectiveness and practicality of AI. If you’re skeptical about AI, today’s blog post is for you.
We’ve compiled more than 65 statistics about artificial intelligence. Keep reading!
The State of AI in Business
- Only 23% of businesses have incorporated AI into processes and product/service offerings today (source).
- The largest companies (those with at least 100,000 employees) are the most likely to have an AI strategy, but only half have one (source).
- 47% of digitally mature organizations say they have a defined AI strategy (source).
- 63% of businesses say pressure to reduce costs will require them to use AI (source).
- 54% of executives say AI solutions implemented in their businesses have already increased productivity (source).
- 61% of business executives with an innovation strategy say they are using AI to identify opportunities in data that would otherwise be missed (source).
AI Priorities and Plans
- 83% of businesses say AI is a strategic priority for their businesses today (source).
- 31% of marketing, creative, and IT professionals worldwide plan to invest in AI technology in the next 12 months (source).
- 61% of business professionals point to machine learning and AI as their company’s most significant data initiative for next year (source).
- 27% of executives say their organization plans to invest this year in cybersecurity safeguards that use AI and machine learning (source).
- 95% of business execs who indicated that they are skilled at using big data to solve business problems or generate insights also use AI technologies (source).
The Future of AI
- The AI market will grow to a $190 billion industry by 2025, according to research firm Markets and Markets (source).
- Global spending on cognitive and AI systems will reach $57.6 billion in 2021, according to market research firm IDC (source).
- IDC predicts 40% of digital transformation initiatives will use AI services by 2019 (source).
- IDC forecasts 75% of commercial enterprise apps will use AI by 2021 (source).
- China will reap the most economic benefit from AI by 2030, followed by North America (source).
The Impact of AI on Employment
- PwC predicts up to 38% of U.S. jobs could be at high risk of automation by the early 2030s, higher than Germany (35%), the UK (30%) and Japan (21%) (source).
- Forrester predicts cognitive technologies such as robots, AI, machine learning, and automation will replace 16% of U.S. jobs by 2025. Of those jobs, office and administrative support staff will be the most rapidly disrupted (source).
- Forrester predicts cognitive technologies such as robots, AI, machine learning, and automation will create 9% of new U.S. jobs by 2025. These new jobs include robot monitoring professionals, data scientists, automation specialists, and content curators (source).
- The impact of AI technologies on business will boost labor productivity by up to 40%, according to Accenture (source).
Benefits of AI Adoption
- 84% of businesses say AI will enable them to obtain or sustain a competitive advantage (source).
- 75% of businesses say AI will allow them to move into new businesses and ventures (source).
- 80% of business and tech leaders say AI boosts productivity and creates jobs (source).
- 72% of business decision-makers say AI can enable humans to concentrate on meaningful work (source).
- 51% of executives say their primary goal for AI is to enhance the features, functions, and performance of their products (source).
- 36% of executives say their primary goal for AI is to optimize internal business operations (source).
- 36% of executives say their primary goal for AI is to free up workers to be more creative by automating tasks (source).
- 79% of executives worldwide say artificial intelligence will make their job easier and more efficient (source).
- 59% of executives say big data at their company would be improved through the use of AI (source).
Obstacles to AI Adoption
- 77% of CEOs say AI and automation will increase vulnerability and disruption to the way they do business (source).
- 76% of CEOs are most concerned with the potential for bias and lack of transparency when it comes to AI adoption (source).
- Gartner predicts that through 2022, 85% of AI projects will deliver erroneous outcomes due to bias in data, algorithms, or the teams responsible for managing them (source).
- 47% of executives say an obstacle to AI initiatives is that it’s hard to integrate cognitive projects with existing processes and systems (source).
- 40% of executives say an obstacle to AI initiatives is that technologies and expertise are too expensive (source).
- 37% of executives say an obstacle to AI initiatives is that managers don’t understand cognitive technologies and how they work (source).
- 93% of automation technologists feel unprepared or only partially prepared to tackle the challenges associated with smart machine technologies (source).
AI Trends by Sector
- 72% of businesses in the technology, media, and telecommunications industry expect AI to have a significant impact on product offerings in the next five years (source).
- Juniper predicts the success rate of bot interactions in the healthcare sector (those completed without relocation to a human operator) will move to over 75% in 2022 (source).
- In the banking sector, Juniper forecasts the success rate of bot interactions to reach over 90% in 2022 (source).
- Key clinical health AI applications can potentially create $150 billion in annual savings for the U.S. healthcare economy by 2026 (source).
- 80% of sales and marketing leaders say they already use chatbot software in their customer experience or plan to do so by 2020 (source).
- The top benefits of chatbots are 24-hour service (64%), instant responses to inquires (55%), and answers to simple questions (55%) (source).
- Juniper predicts chatbots will be responsible for cost savings of over $8 billion annually by 2022 (source).
- Gartner predicts data gathered from users in cloud-based neural networks will power 40% of mobile interactions between virtual personal assistants and people by 2020 (source).
- 46% of U.S. adults use digital voice assistants to interact with smartphones and other devices, according to Pew Research Center (source).
- 55% of U.S. adults use digital voice assistants to interact with devices without using their hands (source).
- 72% of business execs say they use digital assistants to help make their lives easier (source).
- Gartner predicts zero-touch user interfaces will be available on two billion devices and IoT endpoints by 2020 (source).
AI in Sales
- Gartner predicts that by 2020, 30% of all B2B companies will employ AI to augment at least one of their primary sales processes (source).
- A Harvard Business Review study found that companies using AI for sales were able to increase their leads by more than 50%, reduce call time by 60-70%, and realize cost reductions of 40-60% (source).
- Forrester forecasts one million U.S. B2B salespeople will lose their jobs to self-service e-commerce by 2020 (source).
AI in Marketing
- 80% of B2B marketing executives predict AI will revolutionize their industry by 2020 (source).
- 64% of B2B marketers consider AI valuable for their sales and marketing strategy (source).
- 63% of B2B marketers are not using AI in their tech stack (source).
- Only 13% of B2B marketers are very confident with their knowledge of AI, while 55% are somewhat confident, and 33% are not at all confident (source).
- Top-performing companies are more than twice as likely as their peers to be using AI for marketing (28% vs. 12%) (source).
- 71% of B2B marketers are interested in using AI for personalization (source).
- 63% of B2B marketers are interested in using AI to identify trends (source).
- 59% of B2B marketers expect AI to help identify prospective customers (source).
- 53% of B2B marketers expect AI to improve marketing effectiveness in driving revenue (source).
- Marketers say the top obstacle to integrating AI is applying it in their current role and workflow (33%) (source).
- Marketers say the top success story they are seeing with AI is getting a better understanding of the customer (31%) (source).
AI in Customer Service
- Servion Global Solutions predicts AI will power 95% of all customer interactions by 2025, including live telephone and online conversations (source).
- Gartner predicts that by 2020, customers will manage 85% of their relationship with the enterprise without interacting with a human (source).
- 78% of brands say they have already implemented or are planning to implement artificial intelligence and virtual reality by 2020 to better serve customers (source).
- Only 27% of global consumers say AI can deliver the same or better service than humans. However, 38% say AI will soon improve customer service (source).
- 73% of global consumers say they are open to businesses using AI if it makes life easier (source).
- 43% of millennials would pay a premium for a hybrid human-bot customer service channel (source).
Final Thoughts About These Artificial Intelligence Statistics
Artificial intelligence is one of the most impactful trends in business today– as you can see from the statistics above. If you want to grow your business and surpass your competition, it’s time to get on board with AI.
To learn more about how your business can implement AI technology, check out the following blog posts:
- Using Artificial Intelligence to Recruit Top Talent
- How to Improve Your Website with Artificial Intelligence
- Artificial Intelligence and Marketing
- AI for Sales: Discover How Sales is Changing
Or, contact ZoomInfo, the leading people information database, to learn how our sales and marketing solutions can scale your business.