Artificial intelligence has the potential to change business forever.
Its promise? To take care of all the mundane tasks employees currently handle, freeing their time to be more creative and perform the work that machines cannot. Today, the emerging technology is used mostly by large enterprises through machine learning and predictive analytics.
Here’s a look at the current state of AI and what lies ahead.
1. Today, just 15% of enterprises are using AI. But 31% said it is on the agenda for the next 12 months. (Source: Adobe)
2. For those enterprises already in the AI fray, top-performing companies said they are more than twice as likely as their peers to be using the technology for marketing (28% vs. 12%). Unsurprisingly, analysis of data is a key AI focus for businesses, with on-site personalisation the second most commonly cited use case for AI. (Source: Adobe)
3. When asked about the next big marketing trend, survey respondents identified consumer personalisation (29%), AI (26%) and voice search (21.23%). These top three responses, which total 75% of all AI applications, demonstrate that AI is more pervasive and prominent than respondents realise. (Source: BrightEdge)
4. Forty-seven per cent of digitally mature organisations or those that have advanced digital practices, said they have a defined AI strategy. (Source: Adobe)
5. Business leaders said they believe AI is going to be fundamental in the future. In fact, 72% termed it a “business advantage.” (Source: PwC)
6. Of those who have an innovation strategy, 61% said they are using AI to identify opportunities in data that would otherwise be missed. Only 22% without a strategy said the same. (Source: Narrative Science)
7. Consumers use more AI than they realise. While only 33% think they use AI-enabled technology, 77% actually use an AI-powered service or device. (Source: Pega)
8. Thirty-eight per cent of consumers said they believe AI is going to improve customer service. (Source: Pega)
9. Out of 6,000 people surveyed, 61% said they believe AI will make the world a better place. (Source: Arm)
10. In a survey of over 1,600 marketing professionals, 61%, regardless of company size, pointed to machine learning and AI as their company’s most significant data initiative for next year. (Source: MeMSQL)
11. The impact of AI technologies on business is projected to increase labour productivity by up to 40% and enable people to make more efficient use of their time. (Source: Accenture)
12. The largest companies—those with at least 100,000 employees—are the most likely to have an AI strategy, but only half have one. (Source: MIT Sloan Management Review)
13. More than 80% of executives surveyed are “eyeing the peaks” and view AI as a strategic opportunity. (Source: MIT Sloan Management Review)
14. Voice assistants are being incorporated into a wide range of consumer products; nearly half of U.S. adults (46%) said they now use these applications to interact with smartphones and other devices. (Source: Pew Research Centre)
15. When asked about expectations for marketing technology providers to have native AI capabilities, more than 50% of respondents said it was important or a must-have. (Source: BrightEdge)
Note: These stats were refreshed on 9 March, 2018.