Artificial Intelligence: Statistics to Open Your Eyes

Artificial Intelligence

What do you know about artificial intelligence? Do you have reason to believe that this could have a big impact on you and your business in the years to come? Are you getting ready to make some changes for the better?

Regardless of your industry, there’s a good chance that artificial intelligence will have some type of impact on your company in the future. This is why you need to keep a close eye on everything that is happening, as you don’t want to get left behind.

For example, we recently published a blog post about knowing if your company is ready for artificial intelligence. Here is a brief excerpt to keep in mind:

“To prepare for AI, your company needs to start by looking at the industry statistics and what types of tasks its workers perform are able to be automated. Perhaps one of the most famous examples of the advancing coverage of automation manifests through the optimization of computer engines for games like Chess and Go. Google’s DeepMind AI upset triumph over professional Go player Lee Sedol was a dramatic and landmark moment demonstrating just how far technology has progressed with respect to replicating the intuitive decision-making of humans.”

Speaking of statistics, reviewing a few of these will go a long way in helping you understand the growth of artificial intelligence and the impact it can have on your industry and company in the future.

So, with that in mind, let’s review some of the more telling statistics:

  1. There was more than $300 million in venture capital invested in artificial intelligence startups in 2014. (Bloomberg)

That is a huge number no matter how you look at it. Furthermore, this was from 2014, when artificial intelligence was just coming into its own. It’s safe to assume that venture capital firms are focusing even more time and money on these startups in 2017.

  1. 80% of professionals believe that artificial intelligence can improve worker performance, while also creating jobs. (Narrative Science)

What do you think about that? Are you on board with the idea that the use of artificial intelligence in the workplace can boost performance, while also generating new job opportunities?

This is one of the more interesting statistics, as every company, regardless of size or industry, is looking for ways to take performance to the next level.

  1. By 2018, 75% of developer teams will include AI functionality in one or more applications or services. (Business 2 Community)

This one statistic goes a long way in showing that companies have come to realize the benefits of artificial intelligence. This is no longer something that companies only dream about. They now realize the importance of bringing this functionality to their developer teams.

  1. By 2025, the artificial intelligence market will surpass $100 billion. (Business 2 Community)

If you were previously on the fence regarding the growth of the artificial intelligence market, you should no longer be feeling this way.

While it’s hard to say what will happen over the next eight years, most people agree that the market will continue to grow at an astonishing pace. If everything goes as planned as the market reaches $100 billion or more, it will be interesting to see how companies are using artificial intelligence at that time.

What’s Next?

Just the same as any market, there is no way of knowing what will come next in regards to artificial intelligence. The best thing your company can do is keep one eye on this technology, as to be in position to take full advantage down the road.

Conclusion

These artificial intelligence statistics should help you see just how big the market has become. It should also help you realize that there are things you can do to get involved, all with the idea of using this technology to boost productivity and revenue.

What are your thoughts on the development of artificial intelligence over the past few years? Do you have your eyes set on the future? Do you have any plans for implementing artificial intelligence into your company? Share your thoughts and strategy in the comment section below. Your feedback can help others get in the right frame of mind.