AI is changing the landscape for business. Here are the AI statistics you need to navigate the changes AI will bring to your job and industry.
- AI Growth and Adoption
- Effect On Jobs
- Accounting
- Banking
- Customer Service and Chatbots
- Cybersecurity
- Healthcare
- Human Resources
- Legal Services
- Marketing
- Real Estate
- Sales
- Software Development
AI Statistics for Growth and Adoption
- The AI market will grow from $207 billion in 2023 to $1.8 trillion in 2030. Source
- AI will increase employee productivity by 40% by 2035. Source
- ChatGPT gained a million users in 5 days and 100 million in two months. Source
- The adoption of AI has the potential to increase business revenue by an average of 6% to 10%. Source
- Three out of four business leaders identified generative AI as the most significant technology influence on their business within the next eighteen months. Source
Effect on Jobs
- While less than 5% of occupations can be entirely automated, 60% of all jobs can be automated by as much as 30%. Source
- 36% of people expect AI will replace their job in the next five years. Source
- By 2025, automation and AI will replace 85 million jobs while generating 97 million new jobs worldwide. Source
- By 2030, 14% of employees will have been forced to change their careers because of AI. Source
- 44% of companies who use or plan to use AI think it will cause layoffs in 2024. Source
#More AI effect on job statistics
Accounting
- AI investment in accounting will increase 30% YoY through 2027. Source
- 54% of accounting pros think firms that don’t use AI are worth less. Source
- AI could eliminate lower-skilled accounting jobs by 50%. Source
- Using AI for invoice entry reduces costs from $2-$4 to about $0.045. Source
- Up to $28 billion can be saved within the next ten years by using AI to complete e-invoicing systems. Source
- Using AI forecasting models could reduce errors to less than 5%. Source
#More accounting AI statistics
Banking
- Most personal banking clients already interact with AI without knowing it; most banks use AI and natural language programs to power their client-facing chatbots, such as Capital One’s Eno. Source
- Banks are on track to save $447 billion thanks to AI applications by 2023. Source
- The financial services industry will spend over $10 billion on AI in 2023. Source
- Machine learning algorithms achieved up to 96% accuracy in reducing fraud for ecommerce businesses. Source
Customer Service and Chatbots
- In a survey of 415 respondents, 333 answered “yes” when asked if they had ever chatted with a chatbot before. Source
- About 75% of respondents who have never chatted with a chatbot are over the age of 45. Source
- Only 9% of consumers oppose companies using chatbots. 54% want chatbots to make it clear they’re not human. 68% like that chatbots answer quickly.
- 85% of call center managers will integrate AI-powered conversation intelligence within the coming year. Source
- 56% of businesses use AI to improve their customer service productivity. Source
- By 2027, digital assistants will become the primary channel for client service in 25% of all businesses. Source
#More chatbot AI statistics and #EvenMore
Cybersecurity
- Cybersecurity and fraud detection are second only to customer service as the most common use of AI in corporate America. Source
- AI could automate as much as 45% of cybersecurity tasks. Source
- Organizations that incorporated AI in their cybersecurity operations improved threat detection and response by 12%. Source
- 94% of cybersecurity professionals predict AI will have major impacts on their strategy for the next two years. Source
- While valued at 24.3 billion U.S. dollars in 2023, the AI cybersecurity market is forecast to double by 2026, before reaching nearly 134 billion U.S. dollars by 2030. Source
- According to a 2023 survey of cybersecurity professionals, nearly 60 percent of respondents worldwide considered improved threat detection as the most significant benefit of incorporating artificial intelligence into their cybersecurity operations. Improved vulnerability management ranked second, according to 57 percent of respondents. Source
#More cybersecurity AI statistics
Healthcare
- A survey of physicians described as early adopters of technology said that AI had the most potential in the areas of diagnostic ability (72%), work efficiency (69%), and clinical outcomes (61%). Source
- 90% of hospitals will use AI-powered technology for early diagnosis and remote patient monitoring by 2025. Source
- It’s estimated that chatbots driven by AI would save healthcare organizations $3.6 billion worldwide. Source
- AI has the potential to lower the cost of finding new drugs by 70%. Source
- Predictive AI tools could reduce hospital admissions by half. Source
- 60% of Americans are uncomfortable with their provider relying on AI. Source
- In the NHS, 34% of AI apps are used for diagnosis. Source
- In a survey of 1,081 physicians, almost two-thirds surveyed said they see advantages to using AI, though only 38% said they were using it at the time the survey was administered. Meanwhile, 41% said they were both equally excited and concerned about potential uses of AI in health care. Source (PDF)
#More healthcare AI statistics
Human Resources
- 58% of HR departments have either invested in or are considering investing in AI for hiring and candidate screening. Source
- 56% of typical HR tasks can be automated with current AI software and limited process changes. Source
- For organizations using AI In HR, the top uses are talent acquisition (64%), learning and development (43%), and performance management (25%). Source
- 56% of companies using AI for HR are automating repetitive tasks. Source
- 47% of businesses will use some sort of AI in their HR processes by 2022. Source
Legal Services
- AI can reduce time spent on routine tasks by 20%. Source
- Another estimate put the number at 44%. Source
- The AI legal services market will grow at a 31% CAGR from 2023 to 2032. Source
- Some concerns attorneys have about AI include accuracy (57.7%), reliability (48.1%), data privacy and security (46.5%), cost (28.8%), time to learn (22.9%), and difficulty changing processes (17.8%). Source
- 65% of law firms believe AI can make their tasks quicker, and 64% of lawyers think AI improves their efficiency at work. However, only 26% of law firms use AI; more than half (53%) plan to invest in AI technology. Source
- Goldman Sachs estimated that AI automation could potentially replace 44% of tasks within the legal profession in 2023. Source
Marketing
- Marketing and sales are using AI 40% more than other departments. Source
- Nearly 90% of respondents intend to allocate a designated portion of their marketing budget to AI tools. Source
- By 2024, 75% of midsize and large organizations will leverage AI-powered content generation tools for personalized marketing content. Source
- 4 in 10 marketers believe AI email marketing improves revenue. Source
- 44% of marketers apply AI to content production Source
- By 2028, AI in marketing is estimated to value more than 107.5 billion dollars Source
Real Estate
- The AI market in real estate was valued at approximately $164.96 billion in 2023 and is projected to grow to $226.71 billion in 2024. Source
- Breaking down the market by technology, the machine learning segment leads with a 44% market share in 2023. Machine learning technologies are extensively utilized to analyze real estate trends, optimize property pricing strategies, and personalize customer interactions. Source
- From an application perspective, the property search and discovery segment holds the largest share, accounting for 31.8% of the market in 2023. AI-powered platforms have transformed how properties are searched and discovered. Source
- Nearly half (49%) of real estate business owners have witnessed cost reductions as a result of AI adoption. Implementing AI technologies can potentially reduce operational costs by up to 15%, providing substantial savings for companies. Source
- Looking ahead, by 2030, it is projected that approximately 90% of real estate agencies will be using AI in their operations. Source
#More real estate AI statistics
Sales
- AI algorithms can increase sales leads by 50%, reduce call times by 60%, and reduce costs up to 60%. Source
- 84% of salespeople using generative AI say it increases sales by enhancing and accelerating customer interactions. Source
- 63% of salespeople say their company data is not set up for gen. AI. Source
- 98% of sales leaders say forecasting accuracy will be improved by AI (41% say major improvement). Source
- 81% of sales teams are investing in AI (40% are experimenting with it and 41% have fully implemented it in their operations). Source
- On sales teams with AI, reps are 2.4x less likely to experience burnout than on teams without AI. Source
Software Development
- Software Engineering will be one of the functions most impacted by AI. Source
- Developers using GitHub Copilot can code 55% faster, are 96% faster with repetitive tasks, and are 85% more confident in code quality. Source
- Programmers using AI can code 126% more projects per week. Source
- Software developers can experience 10-30% productivity gains when using Generative AI. Source
- 25% of companies use AI to address a shortage of programmers. Source
- 41% of businesses believe AI will help fix coding errors. Source
#More software development AI statistics
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