Have you ever asked Siri or Alexa to check the weather, or bring up a lemon pie recipe?
We like to think that artificial intelligence (AI) lives in its own realm where robots open doors and serve tea.
But the truth is that AI is all around us, and more and more businesses are embracing the new technology as we speak.
From machine learning (ML) to big data and natural language processing (NLP), we went digging to bring you 31 amazing AI statistics that highlight how these technologies will change many aspects of our daily lives in the coming years.
Maybe these stats will inspire a great business idea.
Top 10 AI statistics and facts (2021)
The use of AI has seen a massive shift, and just in a matter of a few years, these once expensive and special technologies have become commonplace.
In fact, according to Zyro’s AI Data Scientist Matas Mingela,
“We’re still in the early years of AI, a bit like how the internet was 20 years ago – but it’s already evident that AI is better and a lot faster than humans at many things, from evaluating medical images to driving cars.”
Did you know that:
- The impact of artificial intelligence and neural networks on the retail industry alone is estimated to be worth between $400 and $800 billion.
- Over 40% of consumers believe that artificial intelligence improves their lives in some way.
- The artificial intelligence industry is expected to be worth $190 billion by 2025, with global spending in AI systems reaching $57 billion by 2021 already.
- Over 35% of businesses are using AI in some form.
- Almost 85% of businesses consider investing in AI as a strategic priority for them.
- Almost 90% of businesses that had adopted AI said that they were using or considering to use AI for sales forecasts.
- By 2024, there are expected to be over 8.4 billion devices with voice assistants – twice as many as in 2021.
- As many as 80% of B2B marketing executives predict that artificial intelligence is revolutionizing the industry.
- The NLP market is expected to be worth over $40 billion in 2025.
- It’s predicted that the AI industry will be responsible for creating 9% of all new jobs in the US by 2025.
The AI market and its general impact on business
Thought that AI was an obscure and niche market that only business executives and IT professionals were interested in?
Think again – it’s not just business leaders that are benefiting from the use of AI. And these artificial intelligence statistics prove it.
1. The impact of artificial intelligence and neural networks on the retail industry alone is estimated to be worth between $400 and $800 billion.
You shouldn’t underestimate the power of the artificial intelligence market – overall, the industry is expected to have a major economic impact (we’re talking of trillions of US dollars) on most fields of business.
2. Over 40% of consumers believe that artificial intelligence improves their lives in some way.
Whether it’s faster answers to questions or better customer service thanks to chatbots, almost half of the consumers think that using AI makes their lives easier.
3. The global AI software market is expected to reach over $125 billion by 2025.
The overall AI market includes a wide array of AI solutions like NLP, robotic process automation, and machine learning.
No wonder there are seemingly limitless possibilities with the technology itself.
4. Only 20% of business and IT leaders don’t think AI boosts productivity.
When it comes to AI technologies, an overwhelming majority of top-ranking professionals agree that AI and machine learning are the driving forces of increased productivity.
AI is more and more commonly used as part of business operations.
These machine learning statistics prove that AI is becoming a staple in the workplace.
1. Over 35% of businesses are using AI in some form.
Only a few years ago, less than 10% of businesses were using AI-powered technologies – fast forward to today; the trend is picking up fast.
2. Almost 85% of businesses consider investing in AI as a strategic priority for them.
Most business executives say AI investments align with the company’s overall strategies, like increasing business productivity.
Most companies are hoping to use AI for more mundane, repetitive tasks, and that way increases overall labor productivity.
3. Almost 90% of businesses that had adopted AI said that they were using or considering to use AI for sales forecasts.
Organizations see the impact of AI well when it comes to creating reports and forecasts based on historical data – like last year’s sales trends.
4. Nearly 95% of executives say that AI has a positive impact on their industry.
There’s been a significant change in attitudes when it comes to AI in business: only just under 70% of business leaders in 2018 saw AI as a positive change in their fields.
Now, nearly all of them agree that it’s definitely not a passing trend.
5. Over a third of global consumers think that AI will be improving customer service in the future.
While just over 25% of the surveyed consumers think that machine learning and AI-driven solutions deliver the same or better quality service as humans, most believe AI has its place in future customer service.
6. A little over 70% of consumers don’t mind businesses using AI if the AI strategy makes life easier.
In 2021, customer experience is king – and as long as companies using AI as part of their innovation strategy don’t neglect the customers, everyone’s happy.
7. Almost half of the millennials would be willing to pay for a hybrid machine-human customer service channel.
The tech generation is generally more willing to give computer science-powered solutions a go, be it in the form of a customer service bot or a social media helpline.
The future of AI
In the next five years, the business world is expecting to see an even bigger shift towards a more defined AI strategy.
Here are the statistics to back it up.
1. The artificial intelligence industry is expected to be worth $190 billion by 2025, with global spending in AI systems reaching $57 billion by 2021 already.
Using artificial intelligence is no longer something reserved for tech startup companies.
With AI technology becoming more affordable and common, the industry’s annual growth rate is expected to grow exponentially.
2. As many as 80% of B2B marketing executives predict that artificial intelligence is revolutionizing the industry.
B2B companies expect AI to help them increase the volume of their lead generation and predict overall product value against the changing market trends.
3. It’s predicted that the AI industry will be responsible for creating 9% of all new jobs in the US by 2025.
Usually, AI gets a bad rep for making administrative assistants redundant.
But the truth is that with more automation and more data, new jobs will arise (think robot monitoring professionals, content curators, data scientists, and automation specialists, for example).
Voice search is here to stay, and we believe AI will become smarter and better with customer interactions.
Here are the statistics to show you why.
1. By 2024, there are expected to be over 8.4 billion devices with voice assistants – twice as many as in 2021.
We may laugh at Siri not understanding a Scottish accent, but the forecasts show that in just a few years, there could be more digital voice assistant units than people on the planet.
2. Over 95% of mobile users use AI-powered voice assistants.
It probably comes as no surprise that most consumers say they’ve at least tried virtual assistants on their phones. OK Google, anyone?
3. Almost half (40%) of people use voice search on their mobile devices at least once a day.
It’s clear from these kinds of stats that the better the AI capabilities are, the more people will use them.
Voice search is becoming more and more normal, especially with the rise of smart speakers like Alexa and Google Home.
4. A third of young people and just over 50% of adults use their smart speaker for entertainment purposes.
Out of those US citizens who own a smart speaker, listening to music is by far one of the most common activities voice assistants are asked to perform.
5. Apple and Google dominate the AI voice assistant market with a joint market share of over 70%.
But Amazon has been playing catch up, dominating 25% of the market share. Microsoft’s Cortana, on the other hand, has a hold of just 19% of the total market.
6. Almost 70% of people use smart speakers to check the weather, while only 5% use voice assistant technologies for more complex tasks, like reordering products.
Customer experience is key in the AI voice assistant market, and it’s evident that most people don’t let their Alexa speaker place orders quite yet.
Natural language processing (NLP)
NLP is a branch of AI that helps computers understand, interpret, and manipulate human language.
And according to these artificial intelligence stats, NLP is more present to our day to day lives than we think.
1. The NLP market is expected to be worth over $40 billion in 2025.
The market size of NLP has been rapidly growing, and it’s expected to be over 14 times larger by 2025 than it was in 2017. Talk about digital transformation.
2. The smart speaker market, a segment of the AI market that relies heavily on NLP, should be worth $19 billion by 2027.
What started with Siri has now grown into a multi-billion market. Amazon’s Alexa and Google’s Google Home are the most familiar NLP-driven AI-powered devices for most consumers, in a billion-dollar market.
3. There are over 1100 NLP companies in the world.
Ranging from startups to public companies, NLP is being developed in the software industry to be used in everything from productivity tools to data analytics.
4. Currently, NLP is one of the three most in-demand skills in the job market.
Machine learning and deep learning are on this list, too – it’s safe to say AI knowledge is a big advantage when looking for a new job.
Robots dream, too. Machine learning is central to the whole concept of artificial intelligence.
And it’s obvious that IT leaders are willing to work hard to have their piece of the market share, based on these artificial intelligence statistics.
1. Google’s Machine Learning Program is now almost 90% accurate.
Although Google’s efforts in developing their AI in recent years have been grand, this piece of artificial intelligence statistics still doesn’t cease to impress.
2. Netflix was able to save $1 billion in 2017, thanks to machine learning.
Netflix is a great example of how using AI can quickly translate into dollars saved.
Netflix tweaked their algorithm to learn to recommend personalized movie and TV show suggestions to users faster and saved plenty in the process.
3. 20% of top-level executives say they use machine learning.
Take it from the top: business execs say AI saves them both time and money when it comes to decision-making and seeing the overall bigger picture.
4. In a controlled environment, machine learning is better at lip-reading than humans.
While tech companies aren’t letting their lip-reading robots out to the wild yet, it’s obvious that in a controlled setting, machine learning and AI technologies are beating humans at the classic art of lip-reading.
When we talk about big data, we mean enormous amounts of stats, search queries, order data, and everything else in between, in huge quantities.
AI technologies are particularly useful in combing through big data, since most often, due to the sheer size of the data sets, storing or collecting the data isn’t simply possible. At least not with conventional methods.
1. Google processes over 3.5 billion daily search queries, out of which 15% are brand new.
It shouldn’t come as a surprise that Google is mentioned when big data is being discussed. The search engine giant, whose market share remains at over 80%, gets lots of new search queries every single day.
2. 95% of companies state that not being able to manage unstructured data is a problem for their business.
There’s more data out there than ever, in every possible shape and form. And most companies agree that it’s both expensive and time-consuming to manage all the different types of data effectively.
3. Almost 90% of all the data that is generated today is unstructured.
Since users have so many different channels of communication with companies (think Facebook chats, contact forms, phone calls, and emails, all from one user), it’s surprisingly difficult for organizations to collect and access structured customer data.