Posted: 20 Nov 2018 Contributor: Matthew J Fritschle
20 AI Growth Statistics Marketers Need to Know for 2019
Artificial intelligence (AI) — we all know what it is.
After all, whether it’s self-driving cars or robots who talk to each other, we’ve all been hearing about how AI and machine learning are on an upward trend and are leading to advancement after advancement.
For example, would-be eaters are making use of digital assistants like Siri and voice search to find places to eat nearby, consumers are using visual search to find exactly what they want at the tap of a button, and marketers are using probability and statistics in data science to tailor their strategies.
In other words, AI growing faster than ever before.
AI Growth Statistics You Need to Know for 2019
As we close 2018 and near 2019, it’s time to do what all marketers should do at the end of every year: analyze stats and trends to get an idea of what’s to come.
Seeing as how big AI is right now, up today are artificial intelligence stats for 2019, a couple of accompanying images and an artificial intelligence growth chart or two so you can visualize what you read.
Let’s get started!
Future of AI Statistics You Need to See
1. Since 2000, there has been a 6X increase in the annual investment levels by venture capital (VC) investors into U.S.-based AI startups.
2. Considering that the global AI market was worth approximately $4.8 billion in 2017, and is projected to increase by almost 20 times to $89.8 billion by 2025, it makes sense that more and more people are investing in AI.
3. After all, it’s projected that AI augmentation will generate $2.9 trillion in business value and recover 6.2 billion hours of worker productivity by 2021.
For example, as Mike Rollings, research vice president at Gartner, said:
“Rather than have a machine replicating the steps that a human performs to reach a particular judgment, the entire decision process can be refactored to use the relative strengths and weaknesses of both machine and human to maximize value generation and redistribute decision making to increase agility.”
4. Apart from augmentation, revenue generated from the big data and business analytics market worldwide is also expected to double from $122 billion in 2015 to $260 billion in 2022.
For instance, AI in paid marketing gives brand the information they need to better tailor strategies and improve conversions.
5. With this in mind, it doesn’t really make sense that only one in 25 CIOs say their organization has deployed AI.
6. Especially because, today, just 15% of enterprises are using AI, but a larger 31% said it is on the agenda for the next 12 months.
7. For those that are using AI, top-performing companies were more than twice as likely as their peers to be using it for marketing (28% vs. 12%).
8. As part of these marketing endeavors, 47% of digitally mature organizations, or those that have advanced digital practices, said they have a defined AI strategy for mobile, compared with 27% for non-mature.
9. Why else are they using AI? According to a PwC study of 2,500 U.S. consumers and business decision makers, business leaders, believe AI is going to be fundamental in the future. In fact, 72% termed it a “business advantage.”
10. Additionally, 63% agree AI will help solve complex problems that plague our society, and 59% believe it will help people live more fulfilling lives.
11. For example, 50% consumers believe that AI will provide major solutions for climate change and other problems like income inequality (38%), gender inequality (31%), cybersecurity and privacy (68%), personal financial security and fraud (61%), cancer and diseases (66%), global education (58%), global health and well-being (56%), clean energy (62%) and economic growth (56%).
12. On the other hand, 46% believe AI will harm people by taking away jobs, and 23% believe it will have serious, negative implications.
13. Despite this belief, Gartner says that, by 2020, artificial intelligence will create more jobs than it eliminates.
Explaining further, Svetlana Sicular, research vice president at Gartner, noted:
“Many significant innovations in the past have been associated with a transition period of temporary job loss, followed by recovery, then business transformation and AI will likely follow this route”.
14. On top of this, Gartner also predicts that one in five workers engaged in mostly non-routine tasks will rely on AI to do a job by 2022.
15. Moving onto uses, a survey conducted by BrightEdge found that respondents identified consumer personalization (29%), AI (26%) and voice search (21.23%) as the next big marketing trend.
16. Along similar lines, consumers use more AI than they realize. While only 33% think they use AI-enabled technology, 77% actually use an AI-powered service or device.
17. For example, digital assistants, which rely heavily on AI, are being incorporated into a wide range of consumer products, and nearly half of U.S. adults (46%) said they now use these applications to interact with smartphones and other devices.
18. Delving into who’s using them, the percentage of people already using digital assistants is:
- 42% for consumers
- 53% for millennials
- 72% for business decision makers
- BONUS: 34% of business decision makers say that the time freed up from using digital assistants allows them to focus on deep thinking and creating.
19. This makes perfect sense when you consider their benefits. For instance, consumers say the top benefits of digital assistants are that they:
- Save time
- Help get things done
- Provide reminders of calendar events
- Send proactive alerts
- Give more time to focus on thinking and creating.
20. Finally, seeing as how we’ve been hearing a lot about autonomous cars recently, it’s predicted that 30% of new cars will have a self-driving mode by 2020.
Final Thoughts
Artificial intelligence: the present and future.
Not only is it growing faster than ever before, but those who are using it are doing so as well.
Among other things, they’re using it to automate business processes so workflows can run smoother, and to predict outcomes so better results can be achieved.
After everything we covered today, what are you going to use it for?