AI Business Stats: Revealing Top Apps Insights of 2024

In the business world, artificial intelligence (AI) has become the talk of the town. It can achieve amazing things that teams of humans could only dream of doing in twice the amount of time.

AI has a tool for every aspect of running a successful business, including risk analysis, marketing campaigns, copywriting, customer support, email marketing, website development, statistics, and more. 

With hard data to back up every decision, businesses that leverage AI are playing a whole different game than those that don’t. This is not to say we need AI to be successful business owners, but it can make the path to get there much less precarious. 

Are you one of the many who are surrounded by AI conversation but have no idea how to turn it from an invisible entity into increased profits? It turns out you’re not alone.

We at Top Apps created a poll to get to the bottom of your biggest questions on how to leverage AI technology for your business, and the artificial intelligence stats we uncovered were surprising. 

This poll was published on LinkedIn, an online platform where the biggest, greatest minds in business have conversations worth taking notes on. 

The poll was open to whoever wanted to participate and asked, “What are your biggest questions on how to leverage AI for your business?”. So, let’s take a look at our AI statistics of 2024.

50% of People don’t know what AI is available

A whopping 50% of the participants didn’t know what AI technology was available to them to leverage their business. 

We find this surprising because AI is so popular and has been making rounds in numerous industries for at least 10 years now. Only recently has it become more accessible, but it is clear that we can still do better and teach businesses what AI is available to them. 

This shows that many businesses could put more time, effort, and potentially money into finding AI solutions for their problems. 

Here are some effective ways businesses can find out what AI is available to them. 

Research

The first step is to research what AI can do and whether a system is available for your industry. We can say with confidence that no matter how niche your business is, there is an AI assistant that will fit in perfectly. 

There’s no point taking global AI technologies on board when you don’t necessarily need it. Ask yourself what problems you need to solve specifically. 

Is it a slow product design process, ineffective marketing campaigns, or something else entirely? Try and pinpoint the issue and research AI tools that are specialized for the job. 

Attend AI events

The best way to learn about what AI is available to you is by going to events catered to talking about them and teaching others. You will learn all about the latest trends and, best of all, connect with others in similar positions to get the best advice possible. This makes AI adoption much easier, optimizing your business strategy.

Forbes has compiled a great list of the AI events you should mark in the calendar.

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Hire an AI consultant

If all else fails and you’re still stuck on what AI system to use, you can hire a consultant to help you with any question you could possibly have.

A consultant will have a good look at your business, your goals, and how you operate to determine what AI will be the best fit. These are AI industry experts, so who’s better to ask?

17% of people don’t know how to implement AI

This result from the poll is a little less surprising because the sheer amount of AI can make it difficult to understand how to implement what into your business. 

Understandably, seeing the AI market as this big beast, hard to tame and squeeze into your business operations, can put a lot of people off (17%, to be precise). 

What can we do to increase this percentage and give people the confidence to welcome AI technology into their lives? We educate! 

You may know what AI software you want to use, but how do you go about it? Here are some steps you can take: 

Have specific goals

You must narrow down the pains in your business. For example, is it task automation, marketing strategies, or decision making in a particular area? Find out what needs to be fixed and research AI tools designed to fix it. 

Know your budget

You should have a budget in mind during your hunt for an AI, as some software can get pricey. There are also free option plans that you can use but will have limited features in return. 

Nevertheless, trialing a free version for a few weeks or months will give you a better idea of how it fits in with your business and help the AI adoption process.

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Present data

For AI to work with you properly, it needs data to learn patterns, understand behavior, and predict what may happen next – all essential parts of AI that make it so useful no matter how you use it for your business. 

The data must be as accurate as possible and structured and labeled in a way for AI technologies to process. For example, information on customer engagement and conversion rates will give the AI a head start in helping you out.

Tweak until it’s perfect

Now that you have been using AI for a few months, you should have a concise log of data demonstrating how it has changed your business. If it has been a game changer and optimized your business like never before, you should know there is still room for improvement. 

Tweaking the AI software to be personalized to your business will make it much more effective because it will know your processes and goals like the back of its metaphorical hand. 

Refining the software could take as little as a few changes in the preference settings or changing how employees use it. Sometimes, it could even require an adjustment in the algorithm, but the payoff is always worth it. 

17% of people don’t see the ROI (return on investment)

True, just because you have welcomed AI into your business does not automatically mean you will churn out huge profits. As mentioned before, AI can be expensive, so when you don’t see that money come back in, it can definitely be a turn-off. 

There are a few reasons why these respondents don’t see the ROI. The possible cases include using the wrong AI software for the job or having the right AI but not using it properly. Another potential culprit is the lack of a clear business goal. 

Some can also argue that ROI is not always the most accurate way to gauge whether or not AI systems are benefitting a company. 

Either way, let’s break down why you may not be seeing the ROI even when using AI.

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Wrong AI 

Sure, the AI market is huge and grows by the day with new names and promises to go with them. This makes using the wrong AI to reach your objectives an easy trap to fall into. 

If you are unsure as to what AI to use, start off small and don’t give away your budget so easily. Do plenty of research, talk to others in your industry, and try free demos before you fully commit. 

Not using AI properly

Even if you are certain that you found the right AI for your business but are still not seeing the ROI it promised you, it’s because you’re using it wrong. 

It’s easy to be done, and more businesses fall victim to it than they are probably aware of. Check that you’re even ready for AI, that data is of good quality, and will paint the full picture of what needs to be fixed.

No clear goal

If you have adopted AI in the hopes that it will know exactly what you want and how to give it to you, this might be the reason why you have seen no ROI. 

You are the brain behind the business, so it is up to you to steer it toward a goal. A strong foundation will hold you and the AI accountable for any performance issues. 

17 % of people think AI is all hype and they don’t need it

Another 17% of the participants in this poll don’t see the fuss in AI at all and believe that it’s all hype. 

If you are a firm believer that AI is all hype and holds no real ground in your business, then who am I to change your mind? 

But we urge that you at least research similar businesses in the same industry as you who use AI and how it has affected them. 

Humans can run a successful business without AI, but are you not even a bit jealous of how much more free time they have after their email marketing has been optimized? Or how do they seem to have a much higher website conversion rate than last year?

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If you need a bit of convincing that AI can help your business, have a look at these examples. 

Increase productivity

AI can easily take care of the boring, repetitive tasks you and your employees endlessly do. This can be anything from pricing your products, data entry, and answering emails. 

You can also present it with a huge collection of data, and it will analyze it to come to conclusions in minutes that would otherwise take you hours. 

Informed decisions

Making even small decisions as a business owner can make your palms sweat. AI can take this weight off your shoulders by using its pattern recognition capabilities to predict what will happen next. 

This will give you a huge advantage in what may happen next so that you can make an informed decision for the best results. 

Enhanced customer experience

Happy, loyal customers are the backbone of any successful business. Many AI systems have been designed specifically to answer customer questions, personalize their shopping experience in the retail industry, and promote products unique to their browsing and purchasing history. 

By paying that extra bit of attention to customers, they will feel valued and unique and thus enhance their customer experience.

Key Takeaways

To conclude this poll on your biggest questions on how to leverage AI for businesses, the AI statistics we found were very interesting and showed a range of outlooks. 

The most surprising result was that 50% of participants weren’t aware of the AI software available to them. 

These artificial intelligence statistics show that more education needs to be done to demonstrate further what AI models are best for what tasks. It can also tell us that not a lot of businesses feel the urge to research AI and properly follow through with using it, no matter how much people talk about it. 

The global AI market is expected to grow exponentially, so it’s time we start learning how to incorporate this tech into our day-to-day lives.

Whether you want to test out some AI powered voice assistants, or see how natural language processing can revolutionize your customer service, find the right tool for you using the Top Apps directory.