Is 2023 the year of AI? AI statistics & facts

Artificial Intelligence (AI) has been in development since the mid-20th century. However, it is only in recent years that the field has experienced rapid growth, thanks in part to advances in computing power, big data, and machine learning algorithms.

So, how big exactly is the AI space? And how fast is it expanding? Let’s look at some AI statistics, as well as future growth estimates to find out.

Key takeaways

1. One-third of companies use AI across multiple business units.
2. In 2023, the worldwide AI market will be worth $500 billion USD.
3. Approximately 28% of individuals fully trust AI, while 42% believe it is generally accepted.
4. A stunning 83% of enterprises regard AI to be a high priority in their strategy.
5. In five years, the amount of companies utilizing artificial intelligence increased by 300%.
6. By 2025, about 100 million individuals will be employed in the AI industry.
7. AI algorithms can improve leads by up to 50%.
8. More than 80% of employees believe AI boosts their productivity.
9. Conversational AI is already being used by 54% of businesses.
10. Almost 62% of users are happy to provide data to AI in order to improve their experience.

One-third of companies use AI across multiple business units.

Gartner reports that 80% of CEOs believe AI-powered automation can be applied to all corporate functions. With proper implementation and smart use, artificial intelligence can be a fantastic helper. From chatbots in the retail and ecommerce industries to AI spotting diseased crops in agriculture, technology is rapidly transforming the globe.

Energy, healthcare, aerospace, supply chain, and construction are among the most impactful industries employing AI. These are crucial industries where the use of AI and big data can be game changers.

In 2023, the worldwide AI market will be worth $500 billion USD.

The market value of artificial intelligence is increasing at an exponential rate. The worldwide AI market is expected to reach half a trillion dollars by 2023.

It’s not surprising that the market is expanding so quickly as more organizations use AI solutions. The massive adoption of cloud-based services, AI virtual assistants, and conversational AI is one of the driving causes behind such growth rates.

The value of excellent customer service is also increasing. According to studies, 96% of customers consider customer service while deciding on a brand loyalty. As a result, AI solutions for client interactions are becoming increasingly popular.

Approximately 28% of individuals fully trust AI, while 42% believe it is generally accepted.

Many people still regard AI as something out of a science-fiction picture. Nonetheless, there is a global trend toward more acceptance and trust in artificial intelligence. Now, over one-third of individuals say they trust AI, fewer than half support AI, and only about 10% reject it.

We can expect these figures to shift in the coming years, based on younger generations’ attitudes toward AI. In the United States, for example, 27% of Millennials believe that the benefits of AI outweigh the drawbacks, opposed to 10% of Baby Boomers.

A stunning 83% of enterprises regard AI to be a high priority in their strategy.

Today, more and more companies understand that without AI, they have little chance of growing. The truth is that the world is moving at lightning speed. Consequently, in order to keep up, organizations use various forms of automation. Companies can choose solutions that work precisely for them thanks to the wide availability of AI-powered tools such as voice assistants, chatbot platforms, email automation services, visual AI, and more.

Without a doubt, the use of AI systems will continue to increase. Already, nine out of ten businesses are investing in artificial intelligence, and their spending will only grow in the future. It’s probably the most ideal moment to join them.

In five years, the amount of companies utilizing artificial intelligence increased by 300%.

AI has grown exponentially in recent years, particularly with the outbreak of the COVID-19 pandemic. As the globe went dark, 52% of organizations boosted AI deployment, and 86% believed it was already a “mainstream technology”.

Companies now see AI as more than simply an experiment, but as something that will have a substantial impact on their decision-making process, strategy, revenue, and growth. AI adoption provides actual benefits that businesses cannot afford to overlook, whether it is simple artificial intelligence software or highly sophisticated AI systems.

By 2025, about 100 million individuals will be employed in the AI industry.

Current advances in artificial intelligence speak for themselves.

The Metaverse, machine learning breakthroughs, natural language processing, deep learning, and other technologies will undoubtedly create more and more workspaces in the near future. Soon, demand will be so strong that approximately 100 million workers will be needed to fill new employment in AI areas.

Does it sound scary? In actuality, there is nothing to be concerned about. In the most likely scenario, humans will operate in both real-world and AI-powered environments. All in the company of robots who assist people and contribute to the global economy on a different level.

AI algorithms can improve leads by up to 50%.

While some people are afraid of AI, others use technology to help them accomplish their jobs more efficiently.

Essentially, as with AI in customer care, HR, finance, or marketing, AI may take over uninteresting and repetitive activities, freeing up humans to focus on more essential and complex topics. This can have a favorable impact on our productivity.

Conversational AI is already being used by 54% of businesses.

Conversational AI is one of the most popular company technical investments. This is hardly unexpected given that excellent customer service is what drives business growth these days. Companies that use artificial intelligence are becoming increasingly aware of this. Indeed, more than half of organizations are now adopting some sort of conversational AI in their work, and this percentage will only increase.

AI-powered chatbots have the potential to transform any company. They offer excellent customer service 24 hours a day, seven days a week, from anywhere in the world. As a result, your human service employees can handle complex queries and critical issues, while chatbots greet visitors, give discounts, save abandoned carts, and collect feedback.

Furthermore, according to our chatbot study, 69% of clients are completely satisfied with their interactions with a chatbot. These figures will continue to rise as existing AI technology improves.

Almost 62% of users are happy to provide data to AI in order to improve their experience.

Aside from corporations having more faith in AI, current consumers are considerably less skeptical of new technologies. Furthermore, the majority of them are willing to share their data with AI in order to provide a more customized user experience.

At the same time, it increases company responsibilities. If companies want to maintain the same level of confidence from their customers, they must be clear and open about how they are using this data. Transparency, technology, and continuous improvement will undoubtedly increase customer loyalty and enable organizations to scale much more quickly.

As you can see, artificial intelligence is transforming everything. AI benefits organizations in a variety of ways. It improves speed and accuracy of all company processes, boosts customer experience, helps marketers get to know their customers, and allows firms to scale more efficiently. One thing is certain at this point — artificial intelligence is here to stay.

Disclaimer: The information herein is for educational purposes only and should not be considered financial, investment, or trading advice. Please conduct your own research and due diligence before making investment decisions. You understand that you are using the Information provided at your own risk.