Artificial intelligence (AI) is one of the most rapidly expanding and widely utilized data-driven technologies in the world.
Artificial intelligence is being employed by a wide range of entities throughout the world, from governments and major enterprises to local online businesses.
What role does AI play in business? What do customers think of technology? And how can it be used to boost sales?
In this blog, we’ll look at the eight most relevant artificial intelligence statistics for 2023, including everything from the adoption of AI in enterprises to the benefits it provides.
Ready? Let’s get started.
1. Rising Use of Artificial Intelligence
Although the usage of AI in organizations remains relatively modest, data suggest that a growing number of businesses are beginning to incorporate it into their operations.
In 2015, just 10% of companies said that they were already using artificial intelligence technology or planned to do so in the near future.
In 2019, the figure had risen to 37%, indicating that more than one-third of enterprises are either utilizing or planning to use artificial intelligence (Gartner, 2019).
This marks a staggering 270 percent increase in only four years. The majority of this rise occurred between 2018 and 2019 when the use of AI within businesses nearly quadrupled.
2. Demand for AI in Business
According to artificial intelligence reports from the latest survey, more than nine out of ten (91 percent) of top organizations surveyed have a continuous investment in AI (NewVantage, 2022).
The majority of the companies questioned are in the financial services sector, although other major corporations such as Facebook and McDonald’s, as well as healthcare organizations such as Pfizer and CVS Health, are also represented.
Not only are numerous organizations investing in artificial intelligence, but nearly all of them (91.7 percent) are expanding their investment, according to the study results.
3. Customers are Moving Towards AI to Improve Their Experience
According to the most recent artificial intelligence statistics, 62 percent of consumers are eager to employ AI to improve their experience as of 2019. (Salesforce, 2019). This is an increase from 59 percent in 2018.
Businesses, on the other hand, will need to concentrate on conveying how AI is being used within their enterprises. Despite the increasing adoption of AI, many people are concerned about how corporations are employing the technology.
Just over half (54 percent) of them trust corporations to utilize AI data in ways that benefit customers, but only slightly more than one-third (39 percent) believe corporations are transparent enough about how they use AI.
4. AI in Customer Service
According to the most recent figures, artificial intelligence will fuel up to 15% of all customer support interactions worldwide by 2021. (Gartner, 2019). That’s a 400 percent rise from only a few years ago.
Bots and virtual client assistants are two areas of customer care where AI is presently being deployed. In fact, nearly one-quarter (23%) of customer support firms now deploy AI-powered chatbots.
These provide a greater capacity to address inquiries, a more efficient engagement owing to faster real-time chat rates, and more control over the data received from customers.
Such advantages are becoming increasingly important for businesses as consumer demand for improved customer service grows. For example, 71% of consumers anticipate being able to connect with businesses in real-time.
5. AI in Sales
In 2018, artificial intelligence was used by 21% of sales teams (Salesforce, 2019). This percentage is expected to increase by 155% in the next two years. By 2020, it is estimated that 54% of them will be employing the technology.
AI is gaining traction faster than any other technology utilized by sales teams. In comparison, the usage of marketing automation is expected to expand by 104%, while the adoption of a partner relationship management system is expected to increase by 95%.
These are most likely to be integrated into processes like automation and quotation configuration tools. These will assist salespeople in better understanding their customers’ wants. They may focus on being better advisors to them now that the boring jobs are over.
6. AI in Content Marketing
As the world of marketing continues to evolve, so does the role of artificial intelligence (AI). Many experts believe that AI will eventually transform content marketing as we know it. AI can be used to generate entire pieces of content, including articles, blog posts, and even video scripts.
According to statistics, just 29% of content marketing executives employed AI in 2018, but by 2020, it will be 84%. AI writers can help content marketers curate and organize content from a variety of sources, making it easier to find the most relevant and engaging material for their audience.
AI can be used to analyze large amounts of data to identify patterns and trends. This information can then be used to improve the targeting and personalization of content, making it more relevant and engaging for each individual reader.
7. Cost Benefits of AI in the Business World
According to the most recent artificial intelligence facts and data, 44 percent of companies that use AI indicate a decrease in business costs in areas where AI is used (McKinsey, 2019). When combined with revenue growth by many of these firms, the cost benefits of AI are obvious.
Manufacturing activities have resulted in the greatest cost savings: Following AI adoption, 37% of enterprises saw their production costs drop by up to 10%. This is followed by the risk and supply-chain divisions, both of which witnessed 31 percent cost reductions.
The marketing and sales divisions were responsible for the majority of revenue growth. Four out of ten claim their income increased by up to 5% after implementing AI. Revenue for service operations and product and service development teams increased by 31 percent.
8. Growth of AI-powered Voice Assistance
One of the most popular applications of artificial intelligence has been the usage of voice-assisted gadgets, and evidence indicates that this trend will only continue in the future years.
Indeed, by 2023, the number of AI-powered voice assistants is predicted to reach 8 billion (Statista, 2019). This is more than the worldwide population, indicating that voice assistant users are likely to possess more than one device.
It also represents a 4.75 billion growth from the 3.25 billion digital voice assistants in the globe in 2019 and a massive 146 percent increase in only four years.
Online shopping is a typical use for these AI-powered voice assistants. Currently, 43 percent of voice-assisted device owners in the United States aged 45 to 60 use it to make online purchases.
Wrapping It Up
We hope that these eight artificial intelligence facts have helped you understand where organizations are going in terms of the newest data-driven technologies.
Though the benefits of artificial intelligence in business are apparent, there are several concerns to consider when applying it.
You may now use these artificial intelligence data to construct your eCommerce business, whether for sales, marketing, or customer support.