When Artificial Intelligence (AI) started gaining popularity and acceptance, very few would have predicted getting to this level as fast as we have.

But the reality is that Artificial intelligence is everywhere. AI growth statistics show its impact in almost every part of our existence.

From simple recommendations on social media and streaming sites to robotics and other advanced AI-enabled technologies. It’s, therefore, no surprise that numerous discussions are centered around AI.

Artificial intelligence refers to the ability of computers to think and perform actions like humans. It is one of the most significant innovations of this age and currently consists of branches like machine learning, natural language processing, artificial neural networks, robotics, etc.

One industry that’s benefitting immensely from the growing AI technology is Marketing. Marketers and their consumers are using AI to create and enjoy better experiences.

Below, we’ve highlighted all the AI marketing statistics you should know on the current state, benefits, and expectations for the future.

Editor’s picks:

1. The market for artificial intelligence marketing is expected to be worth over 107.5 billion USD by 2028.
2. There was an 84% rise in marketers’ use of AI in 2020 from 29% two years before.
3. Artificial intelligence can improve sales by 52%.
4. The adoption of artificial intelligence is “critical” to the success of 73% of adopters, and has helped 64% gain an edge over their competitors.
5. Organizations using AI see a 41% increase in email marketing revenue.
6. 70% of respondents cite the lack of education and training as the top barrier to AI adoption.
7. 79% of participants believe AI is one of the technologies that will impact the future of marketing.
8. 56% of participants believe AI will create more jobs in the next decade than it will eliminate.
9. According to Gartner, 30% of all B2B companies will use AI for at least one of their primary sales processes by 2020.
10. Projections say bots will handle 75-90% of all queries by 2022.

The current State of AI in Marketing

As far as AI in marketing is concerned, what better place to begin than with the current state of affairs? Below are AI marketing statistics that help you understand how much acceptance AI currently enjoys.

• According to stats from Statista, the market for artificial intelligence marketing is expected to be worth over 107.5 billion USD by 2028, a massive increase from 2021, when it was estimated at $15.84 billion.
• As per McKinsey Global Institute, the impact of AI across all industries for marketing and sales falls between $1.4 Trillion and $2.6 Trillion.

These AI usage statistics show just how huge AI in marketing can get. Of course, it is largely related to how marketers embrace the use to ease their activities.

• 70% of successful marketers say their operations are supported by a fully defined strategy for artificial intelligence.
• High-performing marketing teams already use AI and machine learning for an average of seven different uses, and more than half (52%) plan to increase adoption within the year.

However, that does not eliminate the fact that there’s still a long way to go. Despite the great numbers AI marketing is turning in, certain aspects could use improvements.

• Only 19% of companies have a functional AI strategy in charge of their B2C personalization.
• 50% of marketers consider themselves beginners, while 37% say they are at the intermediate level as far as their AI understanding and capabilities are concerned.
• Around 70% of respondents say they have medium to very low confidence in evaluating AI marketing technologies, with 40% ranking as a medium, 24% ranking as low, and 5% with none.

Benefits of AI in Marketing

The stats above demonstrate that the wide acceptance of AI in marketing is an indication that it has numerous benefits. But we don’t expect you to accept that at face value.

These are artificial intelligence facts to make you understand just how valuable artificial intelligence is to marketers, businesses, and consumers.

• Artificial intelligence can improve sales by 52%.
• As of January 2022, marketers all over the world rely on AI for a variety of tasks, with the highest being 47% for targeting ads.

• 64% of AI adopters say AI has helped them gain an advantage over the competition, while 73% say it is “very” or “critical” to their business operations.
• AI has allowed 45% of experienced adopters and 26% of all respondents to gain a significant lead over competitors.
• Organizations using AI see a 41% increase in email marketing revenue.
• Respondents in the McKinsey & Company survey claim at least 20% of their income before tax comes from AI.
• 10% of respondents claim their company saw over 10% revenue increase due to AI. 26% claim the increase was between six and ten percent, while 43 claimed a revenue increase of less than 5%.
• 19% of respondents claim their company saw less than 10% reduced cost due to AI. 13% claim the reduction was between 10 and 19%, while 2% claimed a cost reduction of more than 20%.
• Study reveals that AI helps 52% of marketers increase sales, 51% enhance retention, and 49% successfully launch a new product.

Sometimes, the benefits may not be quantifiable, but it is still apparent in how it improves companies, as discovered from these stats.

• EY surveyed 570 companies and discovered that accelerating AI to drive growth is a common practice that helps companies respond to disruption and improve their financial performance.
• According to a McKinsey survey, companies are generating value with AI, especially revenue.

The Challenges for AI in Marketing

As expected, certain challenges still prevent the adoption of AI, and the following statistics tell the story.

• Business executives cite different challenges capable of halting AI initiatives. 47% identify integration, while 40% say AI is expensive.

• 70% of respondents cite the lack of education and training as the top barrier to AI adoption.
• 69% cite a lack of or low confidence as a common barrier to AI technology adoption. Other notable ones are lack of awareness (46%) and resources (46%).
• Only 17% of digital marketing leaders implement AI across departments, even though many (63%) struggle with basic needs like personalization.

Consumer Expectations and the Future of AI in Marketing

There’s no denying that there’s still so much to expect from artificial intelligence. As a result, any discussion around AI marketing is hardly thorough without touching on what to expect in the future.

• 79% of participants believe AI is one of the technologies that will impact the future of marketing.
• 56% of participants believe AI will create more jobs in the next decade than it will eliminate.
• Sales leaders expect a 155% rise in the use of AI over the next two years.

• Among sales leaders who predicted that AI would become mainstream by 2020, 54% adopted the technology.
• 70% of enterprises expect to implement artificial intelligence in the next 12 months.
• The use of AI for social media marketing globally is estimated to grow with a Compound Annual Growth Rate (CAGR) of 28.3%, from $0.6 billion in 2018 to $2.2 billion by 2023.

Customers are well aware of the potential of AI and expect businesses to leverage the technologies to provide them with better experiences.

• 47% of B2C consumers expect brands to engage them better using their preferences, and 56% expect personalized services every time they interact with a brand or vendor.
• 71% want companies to communicate in real-time.

Using branches of AI like conversational marketing, this may be achieved faster than expected. Businesses know this and are already using AI to solve these problems.

• Projections say bots will handle 75-90% of all queries by 2022.
• 58% of respondents say they are comfortable interacting with a chatbot, while 60% say they don’t have problems using AI to schedule interviews.
• 90% of consumers are willing to share their data if it helps their shopping experience.

Conclusion

According to the AI marketing statistics highlighted above, artificial intelligence continues to impact the modern marketing industry greatly. Therefore, the future holds positive promises; the earlier a business adopts it, the better.

However, as with the application of AI in other areas, there are challenges for marketers and consumers. And it is expected that many of these will no longer be a cause of worry with more AI improvements.

We hope these stats have been helpful in your quest to understand the role of AI in marketing.

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