Industry report

Artificial Intelligence Statistics And Facts For 2019

Welcome to the new world of artificial intelligence (AI). Machines that can think and act on their own are not just science-fictional Hollywood movies anymore. This concept is almost nearing reality, thanks to the advancements in AI. Artificial intelligence is a high-end invention by humans powerful enough to create intelligent machines. AI focuses primarily on creating machines that can think and behave like humans. The latest addition of computer science is gaining prominence in everyday lives and also plays an important role in the businesses and their success

Some interesting facts on artificial intelligence:

  • The world AI market was $1.4billion in 2016, and it is expected to grow to $60 billion by 2025.
  • By 2030, AI will result in the world GDP growth by $15.7 trillion
  • Business productivity is going to increase by 40 %, thanks to artificial intelligence
  • During the last 2 decades, AI startups have grown 6 times
  • We have AI in 77% of the devices that come in our daily use
  • Businesses with more than 1 lakh employees will adopt a strategy implementing AI

What does the AI statistics show in 2019?

  • The startups are expected to overtake the giants like IBM, Amazon, Microsoft, and Google in the AI domain. Startups are innovating more and implementing custom AI solutions to increase the growth rate.
  • Artificial intelligence will be supporting 100 % of internet-based initiatives and 40% of digital transformations in 2019. This data is on the study by IDC FutureScape presentations promises new developments to happen in AI.
 

Video and Mobile Phones

Most of the countries are investing in artificial intelligence heavily and jumping in on the AI bandwagon. Currently, the United Kingdom gives financial support to 1,000 PhDs on AI. United States has been investing $ 10 billion of venture capital into AI. By 2022 the French government is planning to invest in AI around $1.8 billion. The AI patent of China grew by 190% in 5 years, and Canada also projected to invest heavily in artificial intelligence and is building a research facility in AI for $127 million.

How AI affects sales?

AI technology can replace the dependence of humans who does most of the unproductive routine work in an organization and frees up the human resources for more productive purposes. Artificial intelligence also minimizes the errors that can occur in the process flows in an organization. The advances in artificial intelligence are fast affecting the sales and marketing of the businesses.  AI can provide improved data analytics, decision making, and better user experience by personalization of the customer interface.

Already the world is fast adapting to using AI features while making purchases. When you look globally, almost half of the adults are using the voice search feature daily. 46% of companies are already showing a bias in investing in AI than any other item. These statistics show the growing impact of AI in the world and the need for companies to incorporate AI into their sales strategy.

The following helps you understand how artificial intelligence is affecting sales:

  • AI is expected to lead to triple-digit growth in revenue. By 2021, predictive intelligence and order- to- cash automation might increase by 118% and 115%, respectively.
  • Businesses that have incorporated AI will gain annually $1.2 trillion of the market compared to the firms that have not embraced AI.
  • A Harvard Business Review study shows that artificial intelligence has helped businesses gain 50% more leads, 60-70% reduction in call time, and 40-60% reduction in the number of lost leads.
  • 60% of marketers confirm that AI has helped them with data strategies.

Artificial intelligence can help companies in effective decision making and also improve the productivity of the executives.

  • Out of the companies who have adopted AI, 83% are seeing positive changes, and 53% have derived moderate benefits, and 30% of the companies have experienced substantial gains.
  • Around 30% of CIO s has AI on the top priority list for investing next year.
  • 60% of customers have a preference to purchase from organizations using AI.
  • 80% of marketing executives from the B2B industry consider that AI is going to emerge as a revolutionary factor in the marketing industry.
  • 64% of marketing executives believe AI to become essential in strategic marketing.
  • 71% of marketers from the B2B sector show a significant interest in using AI for personalization, and 63% of marketers are interested in the application of artificial intelligence to identify trends.
  • By 2020, AI-powered voice assistants are expected to become popular with the users projected to be 7 billion.
  • By 2020, 85% of customer interactions will be without humans.
  • The productivity of companies is bound to rise by 40% after incorporating AI

Machine learning and Artificial Intelligence

The machine learning program of Google has 89% accuracy, and the in-depth learning program of Google is more effective than pathologists by 15%. Machine learning helped Netflix save $1 billion in 2017. Netflix wanted to resolve the issue of customers abandoning a search in 90 seconds. They implemented a machine learning program that can automatically recommend personalized shows to the subscribers and thus retain the user interest on screen.

36% of executives consider the main goal behind incorporating artificial intelligence to be optimizing the internal operations. Recent research by McKinsey shows that 20% of C-suite across ten countries emphasizes machine learning as the core of their business.

Retail and Artificial Intelligence

By implementing machine learning, Amazon has been able to reduce the click to ship time by 225%. It has now reduced to 15 minutes. Out of AI adopters, 87% are either using or considering to use AI to improve their sales and marketing.

Voice search and Artificial Intelligence

 

People are showing a leaning towards voice search, and the usage of voice search is increasing day by day. Voice assistants powered by AI are already in use by 97% mobile users. Voice assistants are using by 51% in the vehicle, 6% when in public, and 1.3% while at work. 40% of people are using voice search functions daily.

We assume that by 2020, 30% of online searches will be voice searches. And, voice assistants powered by AI are already increasing with 4 billion devices having it currently. The information released by IHS Markit also gives a projection that by 2020, this will increase further to 7 billion.

Some of the big companies in the world are investing heavily in artificial intelligence.  It shows the prominent role artificial intelligence is going to play in all aspects of life in the future.

Deepmind tops the list of companies in terms of investment in AI research. Google’s brain focuses on AI research in all possible subfields. Facebook shows more interest in the language domain problems that can cover dynamic memory and question answering. Though a late adopter, Microsoft is also increasingly focusing on AI and especially into real-time translation.

Financial services companies are most likely to be substantial investors in AI. The latest research shows that in 2020, financial services companies alone will be spending $11 billion in AI. The focus of financial services companies will be in implementing artificial intelligence in fraud prevention, augmenting underwriting, for improving user experience.

The automotive industry is expected to increase its use of machine learning by 48% with vehicles, both semi-autonomous and fully autonomous going to depend entirely on artificial intelligence systems. AI can also help to personalize cars and thus increase the utility convenience of vehicles. All of this can result in a 48.3% increase in compound annual growth.

Drawbacks of Artificial Intelligence

Artificial intelligence is not without its drawbacks. We can expect a significant number of jobs. When machines replace humans, it can leave plenty of laborers jobless.  It is a scary drawback of AI.  According to a study by PwC, automated bots are going to take 38% of jobs in the United States, 21% of jobs in Japan, 30% of UK jobs, and 35% of employment in Germany.

 

About 16% of American jobs expected use the advantage of automation by artificial intelligence. And the positive fact is that jobs are going to increase in the field of artificial intelligence, including voice recognition and machine learning. In a few years, you can find artificial intelligence everywhere and in everything we do. The AI experts from Google believe that by 2020, we will have machines that are cleverer than humans. You will soon be listening to stories or laughing at a joke from a robot.

History of Artificial Intelligence

The voyage of artificial intelligence began in 1943 when Alan Turing came up with his novel invention of the Turing Test. Grey Walter built the first robots, and John Mc Carthy introduced the term artificial intelligence in 1956. The year 1969 marked the birth of Shakey robot, an intelligent robot that could observe the surroundings, reason by itself, and take decisions on actions.

The progress towards developing neural networks began in 1990 when Rodney Brooks brought the bottom-up approach into prominence. Research and developments in artificial intelligence are taking the whole game to a different level.

In 2002, iRobot created Roomba, an autonomous vacuum cleaner. Big Dog of 2005 was the first robot for the military. The speech recognition app of Google in 2008 and the recent dancing nanorobots of 2010 are the latest advancements in AI. With more and more research going on in artificial intelligence, you can expect surprising developments in AI and find it to be a normal part of life.

How far has artificial intelligence shaped our lives, and what is the future?

Did you know that physical impairments can overcome using Cyborg technology? It is the fantastic potential and scope of AI in improving human lives.  AI has already proved to be very helpful to humans. Home security, cashless stores, music suggestions, film suggestions, chatbots, etc., are some of the examples for the extent of artificial intelligence penetration in our daily lives.

Almost all the industries, be it education, manufacturing, or healthcare can benefit tremendously by implementing artificial intelligence.  Robots that can behave like humans even to the extent of cracking jokes might occur as unrealistic, but Google analysts believe that by the year 2020, this might happen. Machines are increasingly taking over the roles in all industries with even making a mark in the B2B business.

Moving forward, AI and its developments can contribute big time in human lives. Hazardous jobs like fire fighting can be delegated to robots, thus saving more human lives. Robots can help us explore the unknown and intriguing like space and the deep ocean. Data analysis can also help to identify the trends in the world and provide solutions for the many challenging issues we face like climate change.

Artificial intelligence, its current state of affairs and future

Artificial intelligence makes it easy to comprehend a large amount of data available in real-time. Over the last four years, there has been a 270% increase in the number of organizations implementing artificial intelligence. Currently, 37 % of organizations use artificial intelligence in one form or another.


It is expected that artificial intelligence foundations will be prevalent in 80% of emerging technologies by 2021. In 2019, the global spending on artificial intelligence systems is expected to reach $35.8 billion a sharp 44% increase from the amount spent in 2018.

By 2025, the market for wearable artificial intelligence is expected to touch $180 billion, and facial recognition is all set to record an increase in the growth rate of annual revenue by 20% in 2020. 63% of people prefer to communicate to a chatbot, and this shift of preference we can confirm from various available research statistics.  The past few years have also shown an increasing demand for AI talent, which is clear evidence of the expected growth for artificial intelligence in the coming years.