Artificial Intelligence Statistics & Facts for 2023
The utility of artificial intelligence to optimize existing operations, rather than merely emulating the human brain, has fueled a new revolution. Technological advances have already brought us somewhere in professional and personal life alike. And the need for such optimization is indispensable to grow further.
We've all seen AI solutions in action and felt its impacts in multiple ways. So, how do the numbers stack in favor of artificial intelligence? And what are the future propositions for the growth and adoption of AI? Let us find out.
AI Statistics
With the kind of impact AI now has on daily giving, the robust growth patterns of the AI Market size do not come across as a surprise.
Until recently, the 2021 market valuation of the artificial intelligence domain was $327.5 billion globally.
The snowball effect is yet to show more remarkable results for this industry.
There are predictions of an astounding 33.2% CAGR for the artificial intelligence market between 2021 and 2027.
Top 3 AI solutions with substantial value are increasing productivity through automation, improving decision-making, and improving customer experience.
Quite naturally, industry-specific growth patterns also show positive trends for artificial intelligence.
For instance, AI spending in the retail industry alone is expected to reach $20.05 billion by 2026.
With machine learning applications closely related to artificial intelligence adoption, the ML market growth stats are also startling.
Juniper Research predicts a whopping 230% growth between 2019 and 2023.
The attitudes of executives and employees toward artificial intelligence adoption are quite welcoming.
For instance, within the retail sector, surveys have shown that 80% of executives want their companies to adopt AI-powered intelligent automation technologies by 2027.
61% of employees have reported that including AI technologies will definitely improve personal efficiencies and productivity.
The applications and manifestations of artificial intelligence like chatbots for customer service have become extremely popular today.
67% of customers already expect to engage with a messaging platform or chatbot while reaching out to a business for shopping, purchase, or inquiry.
Interesting AI Facts
The daily utility and penetration of artificial intelligence technology is remarkable.
40.2% of adults in the U.S. use voice search options daily. It indicates how important technology has become in the commoner's life.
Enterprises are rising to the occasion and investing rightly in artificial intelligence and related technologies.
76% of Enterprises prioritized AI & Machine Learning in their IT budgets for 2021.
An O'Reilly report of 2021 conducted a percentage analysis of AI adoption per industry vertical.
There was 17% adoption in technology, 15% in financial services, 6% in the Government/Public Sector, and 9% in the Healthcare industry as of 2021.
Artificial intelligence also dominates marketing and customer outreach by artificial intelligence. For example, chatbots are responsible for 85% of customer service interactions today.
There is a rising trend in almost all global geographical locations concerning the adoption and development of AI.
The most advanced AI system in the world is currently located in New Zealand and was established in 2021.
The implementation of AI strategies is not free of challenges.
Gartner says the difficulty in finding a starting point, staff skills, and the fear of the unknown are the three biggest challenges for AI implementation.
While 7% of the world's companies still do not use AI in their operations, they will eventually have to accept it for survival.
The bottom line
If you're someone who doesn't really have a thing for numbers, here's what you absolutely need to know. Artificial intelligence has already taken the world by storm, and its growth, adoption, and penetration within professional and personal spheres will expand exponentially. So hold tight, as the best is yet to come!