AI Statistics for Small Business

“We’re in the golden age of AI and are solving problems that were once in the realm of science fiction”

Jeff Bezos

On a general note, all technologies were introduced just with the purpose to serve human needs. Artificial Intelligence is one such tech, introduced exclusively to reduce the manual workforce. After AI’s birth at Dartmouth University, some took it as science fiction, for some the overall AI concept was sounding hilarious, and everybody had different perspectives. 

However, none could stop AI from moving at a rapid pace. Many top-level firms were painting their own art with AI in their operations. You might have heard about AI applications in self-driving cars, fully-automatic washing machines, and so on. 

Not only well-established firms but AI also serve small businesses. In customer service, logistics, marketing, and many areas, small businesses are leveraging the perks of AI.

For us talking about AI is like eating a full-size choco pie, which we’ll never like to take away from our mouth. At ColorWhistle, we’ve collected a bag full of AI statistics for small businesses and put them all here. Trust us, you’re going to have a good time reading this post.     

Ready to get lost in the world of AI stats?? Let’s get started.

AI for Small Business

  • Up to 29% of small businesses have already adopted AI
  • 37% of businesses cite lack of expertise as the main problem with the adoption of AI in business
  • A survey of 1,467 CEOs of small and mid-sized businesses (SMBs) found that out of all the current technologies, AI has had the maximum impact on their business

Small Business Plans with Artificial Intelligence and Machine Learning

Small Business Plans with Artificial Intelligence
Source
  • More than 80% of small businesses in India and Brazil say WhatsApp helps them improve customer service and grow business
  • A recent survey shows, 13.6% of small-medium business owners have already invested in AI marketing solutions, with this percentage estimated to rise soon as the return on investment becomes clearer. 29.5% of small-medium business owners believe AI will have the greatest impact on their business in the next year
  • Unsupervised backed all that up with its own survey of 520 small to midsized business (SMB) owners querying their attitudes towards implementing AI in their operations
  • The most popular AI chore for smaller businesses is creating content for marketing emails and advertising, with 47% of business owners saying they engaged in this practice

AI Statistics and Trends for 2022

AI Statistics and Trends for 2022
Source
  • The Artificial Intelligence Market size was valued at USD 51.08 Billion in 2020 and is projected to reach USD 641.30 Billion by 2028, growing at a CAGR of 36.1% from 2021 to 2028
  • The global AI market value is expected to reach $267 billion by 2027
  • AI is expected to contribute $15.7 trillion to the global economy by 2030
  • 37% of businesses and organizations employ AI
  • Nine out of ten leading businesses have investments in AI technologies, but less than 15% deploy AI capabilities in their work
  • The rise of AI will eliminate 85 million jobs and create 97 million new ones by 2025
  • More than three billion voice assistants are now in use, and eight billion will be by 2023
  • The AI industry will be earning $126 billion a year by 2025
  • 67% of Americans believe self-driving cars are safer than regular cars
  • 25 countries are now working on designing autonomous vehicles
  • The self-driving car industry could be worth more than $600 billion over the next five years 

AI Software Market Forecast by Use Case – 2021, Worldwide (Millions of U.S. Dollars)

AI Software Market Forecast WorldWide
Data Source

Segment

Knowledge Management

Virtual Assistants

Autonomous Vehicles

Digital Workplace

Crowdsourced Data

Others

2021 Revenue (in Millions)

$5,466

$6,210

$5,703

$3,593

$3,483

$27,049

AI Software Market Forecast by Use Case – 2022, Worldwide (Millions of U.S. Dollars)

AI Software Market Forecast 2022
Data source

Segment

Knowledge Management

Virtual Assistants

Autonomous Vehicles

Digital Workplace

Crowdsourced Data

Others

2021 Revenue

$7,189

$7,123

$6,849

$4,309

$4,171

$32,827

AI Software Market Forecast by Use Case Growth % – 2021

AI Software Market Forecast 2021
Data Source

Segment

Knowledge Management

Virtual Assistants

Autonomous Vehicles

Digital Workplace

Crowdsourced Data

Others

2021 Growth %

17.6%

12%

13.7%

13.7%

13.6%

14.1%

AI Software Market Forecast by Use Case Growth % – 2022

AI Software Market Forecast
Data Source

Segment

Knowledge Management

Virtual Assistants

Autonomous Vehicles

Digital Workplace

Crowdsourced Data

Others

2022 Growth %

31.5%

14.7%

20.1%

20%

19.8%

21.4%

Revenues from the Artificial Intelligence (AI) Software Market Worldwide

Artificial Intelligence (AI) Software Market Worldwide
Data Source

Year

2018

2019

2020

2021

2022

2023

2024

2025

Revenue in USD (billions)

$10.1

$14.69

$22.59

$34.87

$51.27

$70.94

$94.41

$126

Virtual Assistants

  • 50% of knowledge workers will use a virtual assistant by 2025
  • Spend on virtual assistants will reach $3.5 billion in 2021

AI in Customer Service

  • 80% of marketers in 2020 already had chatbots as part of their customer experience strategy
  • 40% of businesses say that customer experience is their top motivator for using artificial intelligence85% of customer service interactions were responded to by chatbots

How and Where is AI Used?

  • In 2019, nearly 40% of the U.S. population used voice search
  • Also, in 2019, 45% of households in the U.S. owned a smart speaker, and 26% were planning to purchase one soon
  • In 2020, there was 4.2 billion digital voice assistance in use worldwide
  • Digital assistant usage worldwide is expected to double to 8.4 billion by 2024
  • The most prominent use case for AI in the retail industry is customer engagement (chatbots, predictive behavior analysis, hyper-personalization)
  • 52% of people are confident that cyber-security is not a threat when sharing personal information online because of robust AI technologies
  • Out of the 300 billion emails sent every day, machine learning detects at least half as spam
  • Researchers who used AI software could detect a plagiarized source code with 87% accuracy

We’ve picked all these statistics from different sources like HubSpot, Statista, Gartner, Smallbizgenuis, SEM rush, and others. You’ll be able to look at the sources in their respective sections. Hope you had a good time reading these AI statistics. 

We frequently post curated blog posts like these on our website, so stay tuned to get regular updates. 

Pavithra Samuel
About the Author - Pavithra Samuel

I'm a passionate copywriter at ColorWhistle sharing a special bond with digital marketing. I aim at delivering masterpiece content for which my research helps a lot. I always search for unique inspirations and write them all down to use in my blogs & content. I make the best use of the upgraded tools & technologies that greatly assist in content writing. Other than reading & writing, my other two friends are food & music. On and often, I do write blog posts, to get regular updates, stay tuned with us.

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