Artificial Intelligence (AI) has changed the way that we live.
It’s one of the fastest-growing industries in the world. We are becoming more and more dependent on it in our daily lives to accomplish simple tasks.
Think about the rise of smart digital assistants like:
- Google Assistant
These AI-powered assistants take simple voice commands and translate them into practical actions.
This is only the beginning of the power of AI.
These artificial intelligence statistics explain how AI is affecting our lives today and provide a glimpse of where it’s going in the future.
What Will I Learn?
Artificial Intelligence (AI) Key Statistics
The use of AI is only going to grow and expand.
II will eventually have a significant impact on every person in every industry worldwide.
These are the key artificial intelligence statistics you need to know:
- The worldwide AI technology market is expected to explode over the next few years, reaching a total market value of $190.61 billion by 2025.
- AI technology is one of the fastest-growing industries in the world with a forecasted annual average growth rate of 33.2% between 2020 and 2027.
- It’s expected that by 2030 China will be the world leader in AI technology with a 26.1% global market share.
- Educating and training staff will be the biggest reason the global AI market doesn’t grow even faster.
- AI will lead to an estimated 26% ($15.7 trillion) increase in the global GDP (gross domestic product) by 2030.
- The $15.7 trillion GDP growth by 2030 will likely come from increased profitability and consumption of AI-dependent products and services.
As you can see, AI is a fast-growing industry worldwide and will become a normal part of our lives in the future. That’s just the truth now.
What Are The Consequences Of Artificial Intelligence On Businesses?
New evolving AI technologies is both an opportunity and a challenge for businesses.
This is how AI is going to affect businesses in the future.
Benefits Of AI For Businesses
AI helps businesses in lots of ways.
The benefit AI offers businesses in automating tasks that no longer need humans:
- Increases productivity
- Lowers costs
54% of company executives have said that implementing AI in their business has increased productivity significantly.
One of the most practical AI business implementations is chatbots. Here’s why business owners love AI-powered chatbots:
|Reason Businesses Use AI Chatbots||Percentage (%)|
|24-hour customers service||64%|
|Fast responses to customer enquiries||55%|
|Automated answers to simple questions||55%|
…have implemented chatbots on their website.
Another industry that AI has made a significant impact on is supply chain.
Supply chain usually has thin margins and relies on large volumes to stay profitable. Because of this, supply chain managers are always looking for ways to lower costs.
In 2019 the global supply chain industry lowered its costs by 44% by implementing AI technology. This is a massive reduction in costs for supply chain companies.
The potential contribution that AI could make to the global economy is estimated to reach $15.7 trillion in 2030.
This will make it one of the biggest technology sectors in the world.
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
…on the global workforce.
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 completely eliminate jobs at their current workplace altogether in the next 3 years.
13% of people expect AI automation to eliminate a significant number of positions in the same time 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
There is no doubt that AI will significantly impact jobs in the next 7-10 years.
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 CEO’s 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.
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
And so many more. It’s certainly a growing field that will create a whole new industry for people to work in.
While some manufacturing jobs are disappearing, there is a demand for different skills within the industry. Indeed, 43% of manufacturers have added data scientists and data analysts to their workforce.
How Is Artificial Intelligence Used In 2022?
Artificial Intelligence will make a big difference in the future.
But what about right now?
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 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 Assistant||AI Market Share (%)|
|Google (Google Assistant)||36%|
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.
Popularity in 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 have become one of the best use cases for AI.
You no longer need to manually select songs from your phone or tablet. 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.
These are the big smart speaker AI companies globally:
|Smart Speaker Company||Market Share (%)|
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.
The convenience combined with the relatively low cost of smart speakers makes them attractive for lots of people.
50% of people who currently own or are planning to purchase an AI-powered speaker said they regularly use their smartphone speaker for entertainment. This includes using the smartphone AI assistant to play music and videos.
70% of people use their smart speakers to check the weather daily. Only 5% said they use their smart speakers for more complex tasks such as ordering products online.
These artificial intelligence statistics demonstrate that AI is already playing an active part in our daily lives.
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.
85% of business owners and executives said they are considering making it a strategic priority to invest in AI this year.
That means over ⅓ 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-
- Customer service
Pay attention to this next section. The following artificial intelligence statistics say that AI is about to become a big part of your job.
The most prominent use of AI is in the retail industry, more specifically customer engagement. This includes the use of:
- AI-powered chatbots
- Predictive behaviour analysis
- Hyper-personalised customer experience
It’s very possible that every individual person could receive a completely unique experience whenever they visit a website in the future.
No two people’s experiences will be the same.
Marketers are already jumping on to the power that AI offers. In 2020, 80% of marketers used chatbots as a part of their customer engagement strategies.
85% of total online customer service interactions actions were responded to by an AI-powered chatbot.
In many cases, the chatbot solved the customer’s problem with no need for human help.
AI interactions are now a normal part of the consumer process.
48% of marketing leaders agreed that digital and mobile AI technology (such as chatbots) has significantly changed how customers engage with them online.
The changes are mostly positive for both the business and the customer.
But where the real power of AI lies is in its behaviour predictions. AI learns automatically and at an extremely fast rate.
90% of businesses that have currently adopted AI said they were using or considering using AI for sales forecasts in the future.
It’s possible that leveraging AI will allow businesses to predict future sales without any human help.
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 AI||Percentage (%)|
|Staff Don’t Have Necessary Skills||56%|
|The Future Of AI Is Unknown||42%|
|Don’t Know Where To Invest||26%|
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 completely revolutionise their industry.
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 makes a big impact on our lives.
And it’s only going to increase.
AI offers so many benefits for both:
- Personal use
- Business use
…that people are quickly adapting to the technology.
It has also become a massive part of all smart devices created today, making it easily accessible to the general public.
The biggest takeaway you can get from these artificial intelligence statistics is your own personal response.
Be open-minded and look for opportunities to use AI in your life and business. This is how you can prepare for the disruptions it will create in the future!