I predict that in 2022, AI will take over the world. Wait, you weren't asking for my opinion? Well, I think you're mean, how about that.
Though, it's a prediction that might not be too far from the truth. In fact, the global AI market is predicted to reach $190.61B market value by 2025.
AI and ML are technologies that will make marketing, both B2B and B2C, more efficient, more personalised, more streamlined. But what we're noticing is that marketer's skills aren't keeping up.
So, it's important to stay up-to-date on the latest developments and trends in the space, to avoid being left behind. Saying that, let's jump in.
Current market and future growth
- 75% enterprises will shift from piloting to operationalizing AI, causing a 5X increase in streaming data and analytics infrastructure
- 127 devices get connected to the internet every second
- The Internet of Things global market is expected to grow around 1.6T dollars by 2025.
- The AI industry will be generating revenues of $119B a year by 2025.
- The AI industry could be worth more than $15T by 2030.
- By 2030, China will be the biggest AI market, accounting for 26% of the global AI market share.
- 80% of executives are currently accelerating their business process automation efforts
- 25% of companies already use AI in workflow automation, while 51% of enterprises are planning to do so shortly
- Through 2022, every company could have 35 AI projects in development
AI powered tech
- As per Gartner reports, public cloud services will be essential for 90% of data and analytics innovation.
- The wearable artificial intelligence market will reach $180B by 2025.
- There will be 8B voice assistants by 2023.
- 97% of mobile users are using AI-powered voice assistants
AI and Marketers
- AI augmentation is predicted to have created $2T of business value by 2021. This value is equal to 6B hours of worker productivity globally.
- 59% of respondents named ‘shortage of data science talent’ as the primary barrier to extracting value from their big data technologies.
- 80% of business and tech leaders say AI already boosts productivity.
- Current AI technology can boost business productivity by up to 40%.
- By 2023, 40% of infrastructure and operations (I&O) teams will use AI-augmented automation in large enterprises, freeing up IT personnel’s time for strategic work
Gaps in AI knowledge in the B2B industry
- 37% of executives say that managers don’t understand cognitive technologies and how they work.
- Marketers say the top obstacle to integrating AI is applying it in their current role and workflow (33%)
- Only 13% of B2B marketers are very confident with their knowledge of AI, while 55% are somewhat confident, and 33% are not at all confident.
- 65% of companies cannot explain how their AI systems make decisions and predictions
- 78% of enterprises are poorly equipped to consider the ethical implications of using artificial intelligence
- Only 45% of businesses engage in ethical AI monitoring
- By 2023, all AI professionals will have to demonstrate a good grasp of responsible AI principles to secure a job
Benefits of AI in B2B
- 64% of B2B marketers consider AI valuable for their sales and marketing strategy.
- 83% of early AI adopters have already achieved substantial (30%) or moderate (53%) economic benefits
- 41% of marketing executives say improving their ability to innovate is a marketing priority for 2022.
- 63% of Digital Marketing Leaders Still Struggle with Personalisation, Yet Only 17% Use AI and Machine Learning Across the Function
- 84% of digital marketing leaders believe using AI/ML enhances the marketing function’s ability to deliver real-time, personalised experiences to customers.
Challenges of AI in B2B
- 76% of CEOs are most concerned with the potential for bias and lack of transparency when it comes to AI adoption
- 77% of CEOs say AI and automation will increase vulnerability and disruption to the way they do business
- Through 2022, 85% of AI projects will deliver erroneous outcomes due to bias in data, algorithms, or the teams responsible for managing them
- 40% of executives say that technologies and expertise are too expensive
- 93% of automation technologists feel unprepared or only partially prepared to tackle the challenges associated with smart machine technologies
- 63% of B2B marketers are not using AI in their tech stack.
- Although 75% of respondents piloting AI/ML worry about trusting the technology, only 53% of those broadly using AI in the marketing organisation worry about trust in AI/ML. This is indicative of a steep but progressive acceptance curve.
Traditional marketing powered by AI
- Worldwide data will grow 61% to 175 zettabytes by 2025. This will make AI and ML vital for productivity and efficiency.
- AI embedded in analytics and other marketing software will free up more than one-third of data analysts in marketing organisations by 2022.
- 71% of B2B marketers are interested in using AI for personalisation.
- 63% of B2B marketers are interested in using AI to identify trends.
- 59% of B2B marketers expect AI to help identify prospective customers.
- 53% of B2B marketers expect AI to improve marketing effectiveness in driving revenue.
- 87% of companies that have adopted AI were using it to improve email marketing.
- 61% of marketers were also planning to use artificial intelligence in sales forecasting.
- 61% of marketers say artificial intelligence is the most important aspect of their data strategy
- Brave Browser reports that over 3.8M monthly transacting users have used Basic Attention Tokens (BAT) in the platform, which allow users to compensate creators based on time spent consuming their content.
- The use of AI and ML in cybersecurity is expected to reach $38.2B by 2026
This post is part of our Martech stats series, which compiles key data and trends. Others include: