The market for Artificial Intelligence is expected to reach $270 billion by 2027.
A whopping $15.7 trillion AI market is expected to emerge by 2030. While 77% of consumers already use a machine’s artificial intelligence capabilities, only 33% know they’re doing so.
AI was widely adopted in the finance, retail, and IT sectors. In the finance sector, it grew by 37% and 27% in the retail sector.
83% of businesses say that developing AI algorithms is crucial to their success.
33% of companies use AI as a tool for business analytics, 25% as a tool for security, and 16% for sales and marketing. However, 40% say their strongest motivator for adopting AI is the simplification of customer experience.
About half of companies that use AI believe it has increased productivity, while 80% of business leaders think its potential is yet to be reached.
When companies implement AI technologies, they can expect a reduction in operating costs, like 44% that did
Using AI in customer service can save businesses up to 60% and reduce call times by 70%.
Sales departments can also benefit from implementing AI – increasing leads by more than 50%
A surprisingly large number of companies have already begun incorporating AI into their marketing strategies, with 28% of companies utilizing AI. However, 84% of marketers believe that this technology is more important than any other.
The use of AI in the education system is set to grow to be worth $6 billion by 2024.
AI will be used in 80% of retail businesses in the year 2027
AI bots will soon handle tasks with 90% accuracy in the banking industry.
According to the UN, 51% of European and 30% of Japanese manufacturers use AI. The figures are also 28% in the US.
US manufacturers increased production by 12% after developing AI
