We believe AI and ML will take over the planet by 2022. You weren't asking for my opinion, were you? How about that, I believe you're rude. However, it's a prediction that might not be too far off. In fact, the worldwide AI and ML market is expected to be worth $190.61 billion by 2025.
AI and ML and machine learning are technologies that will make B2B and B2C marketing more efficient, personalized, and simplified. However, we've noticed that marketer talents aren't keeping up. To prevent falling behind, it's critical to stay current on the latest advancements and trends in the sector. After that, let's get started.
Market development in the present and in the future
75% of businesses will move from piloting to operationalizing AI and ML, resulting in a 5X increase in streaming data and analytics infrastructure.
- Every second, 127 devices connect to the internet.
- The worldwide Internet of Things industry is estimated to expand to roughly 1.6 trillion dollars by 2025.
- By 2025, the AI and ML business will generate $119 billion in revenue per year.
- By 2030, the AI and ML business might be worth more than $15 trillion.
- China will be the largest AI and ML market by 2030, accounting for 26% of the global AI and ML market share.
- Currently, 80% of executives are boosting their attempts to automate corporate processes.
- 25% of businesses now utilize AI and ML for workflow automation, with 51% AI and ML coming to do so soon.
AI and ML-powered technology
According to Gartner, public cloud services will be required for 90% of data and analytics innovation.
- By 2025, the wearable artificial intelligence market will be worth $180 billion.
- By 2023, there will be 8 billion voice assistants.
- AI and ML powered voice assistants are used by 97% of mobile users.
AI and ML Marketers AI and ML augmentation is expected to generate $2 trillion in commercial value by 2021. This amount is equivalent to 6 billion hours of labor output worldwide.
The major hurdle to getting value from their big data solutions, according to 59% of respondents, is a 'shortage of data science talent.'
80% of business and IT leaders believe AI and ML already increase productivity.
Current AI and ML technology has the potential to increase corporate efficiency by up to 40%.
When it comes to AI and ML adoption, 76% of CEOs are most concerned about the possibility of bias and a lack of transparency.
According to 77% of CEOs, AI and ML automation would increase vulnerability and change the way they do business.
Through 2022, 85% of AI and ML initiatives will produce incorrect results due to bias in data, algorithms, or the teams in charge of managing them.
40% of CEOs believe that technologies and knowledge are prohibitively pricey.
93% of automation technologists believe they are unprepared or only partially equipped to face the difficulties of smart machine technology.
AI and ML are not used in the tech stack of 63% of B2B marketers.