15 Artificial Intelligence (AI) Stats You Need to Know in 2018

By Kimberly Cook |Email | Apr 15, 2018 | 20628 Views

Artificial intelligence (AI) is growing every day at a furious rate, and with it, the statistics surrounding the industry and the various industries it's revolutionizing are changing. The technology has already yielded great success in streamlining work processes in the healthcare industry, reducing man-hours spent in administrative tasks in the education sector and reducing overhead costs in the manufacturing world. It seems as if a new AI startup pops up every day with the purpose of changing the way we think, interact and work on a day to day basis.

In honor of this technology, we have compiled a plethora of stats that relate to AI in order to give you an idea of how prevalent the technology is nowadays. These stats cover the state of the technology as of 2018, which has seen companies such as WorkFusion emerge as leaders in the industry. The software company offers a wide variety of intelligent automation solutions for businesses looking to boost their ROI.

Here are 15 AI stats you need to know in 2018:

  1. Only 15% of enterprises are using AI as of today, but 31% are expected to add it over the coming 12 months, according to Adobe.
  2. The number of active startups has increased by 1400% since 2000, per Stanford University.
  3. Investment into AI startups by venture capitalists has soared sixfold since 2000, per Adobe.
  4. The share of jobs requiring AI has increased by 450% since 2013, per Adobe.
  5. For enterprises using AI, top-performing companies said they are more than twice as likely as their industry counterparts to use the technology for marketing, 28% vs. 12%, per Stanford.
  6. According to BridghtEdge, the next big marketing trend is seen as being consumer personalization (29%), followed by AI (26%).
  7. The three most in-demand skills on Monster.com are machine learning (ML), deep learning and natural language processing (NLP).
  8. International Data Corporation (IDC) predicts that the compound annual growth rate for global sending on AI will be 50.1%, reaching $57.6 billion by 2021. This is thanks to investments in retail, banking, healthcare and manufacturing, which will make up over half of the worldwide spending on AI.
  9. Adobe also discovered that 47% of digitally mature organizations, which are those with advanced digital practices, have a defined AI strategy.
  10. Juniper Research discovered in a study that, in retail, global spending on AI will grow to $7.3 billion a year by 2022, up from $2 billion in 2018. This is because companies will invest heavily in AI tools that will help them differentiate and improve the services they offer customers.
  11. About 61% of companies with an innovation strategy are using AI to identify opportunities in data that they would have otherwise missed, according to Narrative Science. This figure is only 22% for companies without this strategy.
  12. About 38% of consumers believe that AI will improve customer service, according to Page.
  13. A PointSource study found that when AI is deployed tactically, 34% of shoppers will spend more money online. About 49% said they are willing to shop more frequently online when AI is present.
  14. The AI healthcare market is expected to hit $6.6 billion by 2021, according to Accenture data. The study added that clinical health AI applications can create $150 billion in annual savings for the U.S. healthcare economy by 2026.
  15. Around the globe, robot imports have increased from around 100,000 in 2000 to roughly 250,000 in 2015, according to IDC.

The article was originally published here

Source: HOB