15. AI is already in the process of reshaping businesses around the world. But, it’s often not simply a plug-and-play solution. Changes to infrastructure may be called for in order for a business to take full advantage of AI technology. In the next year alone, it is estimated that 59 percent of business tech decision makers polled consider changing their business model to support AI to be a “high” or “critical” priority for the next 12 months.
16. One of the biggest challenges to implementing AI technology is managing the transition to replace a business’s existing data practices. 26 percent of business tech decision makers cite data practice change management as a major AI challenge. (Forrester AI Infographic)
The Language Barrier
17. When a new technology is introduced there’s always a bit of a lag as the world catches up. The same is true of artificial intelligence technologies. Some people fail to understand AI’s impact because they don’t speak its language. Narrative Science shares that 38 percent of companies surveyed reported that they were using AI technologies in their workplace; but, 88 percent of companies surveyed were actually using tech that relies on AI to function.
18. Unique proprietary algorithms are the backbone of platforms like Facebook, Amazon, and Google. A failure to understand these algorithms can pose a serious challenge to marketing efforts. For that reason, it’s essential that marketing professionals source talent that can act as translator and influencer between the marketing team and the platforms that rely on AI algorithms. Forrester predicts that:
25 percent of CMOs will fail to do this, resulting in their brand becoming undifferentiated and silenced in the market.
Concerns about the Future
With the advent of any new technology, there are always concerns worth exploring. How will AI impact our businesses, our economy, and our lives? While it’s easy to get swept up in the excitement and hype, it’s important to consider the impact that artificial intelligence technology may have. Here are a few examples of the concerns that consumers hold about AI as we head into 2018:
19. Increased automation has some people very concerned about the future of their jobs—and rightly so.
For example, considering that one of the most anticipated uses of artificial intelligence in the coming years is to create self-driving vehicles, those in the trucking industry may have a reason for alarm. The American Trucking Association’s estimate shows that there are 3.5 million US-based truck drivers who stand a 79 percent chance of losing their job due to vehicle automation. (2018 Webby Trend Report: This Automated Life)
20. This fear is not limited to one industry. The Webby AI Trend Report goes on to show that almost one-third of the people surveyed are concerned that automation may eliminate their job.
21. Concerns about AI extend beyond job loss to other factors of life as well. 45 percent of those polled worry that AI and increased automation may pose a privacy risk.(Webby AI Trend Report)
22. And, a clear majority of the people surveyed—57 percent—reported concerns about the impact automated artificial intelligence will have on the world economy over the next 10 years.
Where Will AI Appear in 2018?
AI technology will perform many tasks in a wide range of business fields in 2018. Here are just a few of the places you’ll find artificial intelligence next year…
23. Businesses rely on market insight to strategize, plan and make product or service design choices. In 2018, AI technology will take on a larger share of the insight delivery process. According to an infographic from Forrester, 31% of business tech decision makers plan to implement AI technology to improve the delivery of their business’s insight services.
24. It logically follows that 33% of business tech decision makers anticipate that AI will aid in the improvement of products and services and cite this as a key benefit of artificial intelligence technology. (Forrester AI Infographic)
25. Narrative Science reports that 38% of businesses surveyed feel that providing predictions on customer, machine and business health is the most important service that artificial intelligence technology can provide.
26. 27 percent of businesses that feel that the most valuable service AI can offer is automating manual and repetitive tasks. (Narrative Science)
27. In a world of constant media bombardment, people are learning the value of quiet as they seek to escape from all of the noise. It’s estimated that 1 percent of the U.S. population, will spend roughly $24 billion, using AI services to filter out media that isn’t relevant to them. (Forrester)
28. Intelligent agents are somewhat commonplace today. Amazon and Netflix are always at the ready with new suggestions for you to purchase or watch. I’d wager that many of us don’t even notice the creepily accurate (and sometimes outlandish, or redundant) recommendations that we see popping up on our screens. Forrester predicts that 10 percent of purchase decisions with be guided by a platform’s intelligent agent or bot, starting the “real economic impact of empowered machines.”
As you look ahead to the new year it’s important to strategize in order to optimize your chances of success in our constantly-evolving technological landscape. By all signs, artificial intelligence is just starting to find its place in our businesses and lives. We hope these statistics give you a better understanding of what to expect in 2018.
Katie Lundin is marketing and customer support at Crowdspring.