WTF Fun Facts: AI Marketing | AI Marketing Facts and Stats

Fasten your seatbelt, this is a WTF Fun Facts session featuring the role of Artificial Intelligence in Digital Marketing. Without wasting a second, let us brainstorm some AI Marketing Facts and stats that should make you feel, WTF!

Contents:

AI use in marketing
AI in marketing revenue worldwide (2020-2028)
AI market size- can you believe it?
Less Investment
Impact on Sales, and Manufacturing
AI adoption
Phase of AI adoption
Surfaced insights from data
AI among the marketers- Hit or Flop?
AI will KILL your job?
Rise of Chatbots- necessity or money making opportunity?
AI in Social Media
AI in entertainment industry
AI for Nation's GDP
Some quick bytes of AI Marketing Facts and Stats:

WTF Fun Fact 1

AI use in marketing

In a recent survey, almost 50% of marketers from the US, UK, India, and Canada revealed that they mainly use AI in – ad targeting. Other areas of activity are – personalization of content, estimating conversions, scheduling, and optimizing emails.
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WTF Fun Facts 2

AI in marketing revenue worldwide (2020-2028)

AI Marketing Facts and Stats — ***courtesy:*** Statista

In 2020, the market share of AI in Marketing was roughly 12 Billion USD. It is estimated by 2028, it will skyrocket to 107 Billion USD.
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WTF Fun Facts 3

AI market size- can you believe it?

The global AI market is currently worth $136.6 billion. The AI market is set to grow by 38% in 2023. It is expected to grow to $1.81 trillion by 2030.
AI market size is expected to grow by at least 120% year-over-year.
Let this sink in!
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The AI software market’s global annual revenue is currently over $50 billion.
Omdia
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WTF Fun Facts 4

Less Investment

According to 19% of respondents, after AI adoption their investment in the functions lowered by 10 percent. 13% said costs declined by between 10 and 19 percent, and 2% said costs decreased by more than 20 percent.
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WTF Fun Facts 5

Impact on Sales, and Manufacturing

AI can create $1.4 trillion to $2.6 trillion of value in marketing and sales across the world’s businesses and $1.2 trillion to $2 trillion in supply-chain management and manufacturing.
McKinsey
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WTF Fun Facts 6

AI adoption

Marketers report a 186% increase in AI adoption since 2018. Marketers are shifting how they source and manage customer data and ramping up use AI, that help them make the most of it.
salesforce
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WTF Fun Facts 7

Phase of AI adoption

17 percent of marketers reported they are in the Scaling phase, which means wide adoption of AI that consistently delivers results. 19 percent have entered the Humanizing phase, where AI and humans work together.
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WTF Fun Facts 8

Surfaced insights from data

Artificial intelligence (AI) is the rising star in Data analysis, with a whopping 84% of marketers reporting its use — up from 29% in 2018.
salesforce
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WTF Fun Facts 9

AI among the marketers- Hit or Flop?

50% of marketers identify as beginners when it comes to AI, while another 37% consider themselves intermediate.
40% ranked their confidence in evaluating AI marketing technologies as medium, 24% as low, and 5% as none.
The two other most common barriers are lack of awareness, 46% and lack of resources, 46%.
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WTF Fun Facts 10

AI will KILL your job?

56% of marketers believe AI will create more jobs in the next decade than it will eliminate. By 2025, as many as 97 million people will work in the AI space.
How’s the Josh fellas?
weforum
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WTF Fun Fact 11

Rise of Chatbots- necessity or money making opportunity?

71% of customers expect companies to communicate in real time, which explains the increasing popularity of using AI conversational marketing solutions.
75-90% of queries will be handled by bots by 2023.
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Juniper Research reports that the adoption of chatbots in the retail, banking, and healthcare sectors will result in business cost savings of $11 billion annually by 2023, up from an estimated $6 billion in 2018.
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WTF Fun Fact 12

AI in Social Media

The global use of AI in the social media market is projected to grow from USD 0.6 billion in 2018 to USD 2.2 billion by 2023 at a Compound Annual Growth Rate (CAGR) of 28.3% during the forecast period.
MarketsandMarkets
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WTF Fun Fact 13

AI in entertainment industry

Netflix makes $1 billion annually from automated personalized recommendations.
Netflix
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58% people prefer product recommendations based on their search history, as in Amazon.
51% people prefer personalised entertainment recommendations based on their search history, as in YouTube.
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WTF Fun Fact 14

AI for Nation’s GDP

AI technology could generate $15.7 trillion of revenue by 2030. Boosting the GDP of local economies by an additional 26%.
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Some quick bytes of AI Marketing Facts and Stats:

Only 17% of email marketers planned to use artificial intelligence in 2018. The number is now almost 37% in 2022.
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The Washington Post’s “AI Writer” wrote more than 850 stories during the Rio Olympics.
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With machine learning, Amazon reduced its “click to ship” time to 15 minutes, a 225% decrease.
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Customer insights-driven businesses will see $1.2 trillion more per year than their less-informed peers in the near future.
Forrester
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AI-powered voice assistants to reach 8 billion by 2023.
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Investment in AI start-ups grew 6 times since 2000.
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Already 77% of the devices we use feature one form of AI or another.
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97% of mobile users are already using AI-powered voice assistants.
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30% of web browsing and searches were made without a screen by the end of 2020. Thanks to, Alexa, Siri, Echo.
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Intelligent robots could replace 30% of the human workforce globally by 2030.
(McKinsey&Company)
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According to AI technology statistics, robotics could replace about 800 million jobs, making about 30% of occupations extinct. With this significant shift, nearly 400 million people will have to adapt and change and careers.
(McKinsey&Company)
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That’s it from our side today. Hope you liked the post, AI Marketing Facts and stats. Did you go, WTF? Do let us know in the com box.

Cheers. See Ya.