AI and ML decision-makers invest in tech to improve their company’s products or services

For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

Key stat: More than 40% of AI and machine learning (ML) decision-makers worldwide highlighted improvements to their product or service quality as their primary driver for developing AI and ML applications, per a survey by S&P Global Market Intelligence. The same group of decision-makers also agree that cost savings in both IT and operational efficiencies (39%) and increasing innovation (39%) are primary drivers.

Beyond the chart:

• AI and ML are playing an increasing role in customer experience (CX). In fact, 45% of US CX professionals believe that the biggest impact AI will have on their customers’ experience with their products and services will be with regard to providing advanced insights and analysis across data sources, according to June data from SurveyMonkey.
• However, the majority of consumers aren’t on board with the idea. A May SurveyMonkey study found that 56% of US adults felt somewhat negative or very negative about companies using AI as part of their CX.

Use this chart:

• Rethink your objectives for AI and ML investments.
• Analyze how your competitors may be strategizing with new tech.

More like this:

• LinkedIn’s new genAI campaign creation tool could accelerate growth of B2B digital advertising
• How retailers like Coca-Cola, Instacart, and Amazon are innovating with generative AI
• How generative AI is transforming the workplace
• Answering 4 questions marketers have about personalization and generative AI

More Chart of the Day:

• 10/3 - Gen Z streams
• 10/2 - How the cookies crumble
• 9/29 - Paid social CPMs plunge
• 9/28 - Amazon shoppers keep it Fresh
• 9/27 - ChatGPT wins for SEO professionals

Methodology: Data is from the August 2023 S&P Global Market Intelligence "2023 Global Trends in AI Report" commissioned by WEKA. 1,516 AI/machine learning (ML) decision-makers/influencers were surveyed worldwide during Q2 2023. Respondents were at companies that have 250+ employees, $10+ million in revenues, and AI/ML deployed in pilots and production. Respondents were split evenly among Asia-Pacific (34%); Europe, Middle East, and Africa (33%); and North America (33%). WEKA is a provider of software solutions for data storage, management, and processing.