Generative AI
50 essential AI stats for CIOs prepping for the ETCIO Conclave, ET CIO
Artificial intelligence is no longer a futuristic concept—it’s a disruptive force reshaping the enterprise landscape today. From transforming customer service and operational efficiency to driving unprecedented innovation, AI is a game-changer for businesses worldwide.
As tech leaders prepare for the upcoming ETCIO Conclave, where “Generative AI Disruption: Building the Future Enterprise” will be a key topic, these statistics will equip tech leaders with the knowledge needed to lead in the age of AI disruption.
- 79% of corporate strategists see AI and analytics as critical to their success over the next two years (Source: Gartner)
- 55% of organizations are in piloting or production mode with generative AI (Source: Gartner)
- More than 80% of enterprises will have used generative AI APIs or deployed generative AI-enabled applications by 2026 (Source: Gartner)
- 39% of organizations currently use AI in the finance function (Source: Gartner)
- By 2024, 60% of AI data will be used to simulate reality, identify future scenarios, and reduce the risk of AI errors, compared with just 1% in 2021 (Source: Gartner)
- 66% of manufacturers incorporating AI into their daily operations report a growing dependence on this transformative technology (Source: VentureBeat)
- The market size of AI in the manufacturing sector is expected to exceed USD 2 billion by 2025, posting average annual growth of more than 40 percent from 2019 (Source: Deloitte)
- 93% of companies believe AI will be a pivotal technology to drive growth and innovation in the manufacturing sector (Source: Deloitte)
- 83% of companies think AI has made or will make a practical and visible impact, with 27% believing AI projects have already brought value and 56% expecting value in 2-5 years (Source: Deloitte)
- Over 60% of large enterprises have already implemented AI strategies, focusing significantly on AI for customer service and operational efficiency (Source: Deloitte)
- 86% of executives have already deployed artificial intelligence to enhance revenue (Source: TCS)
- 45% of executives expect up to half their employees will need to use generative AI capabilities to do their job in three years, with another 41% thinking even more will do so (Source: TCS)
- 65% believe AI will augment and enhance human capabilities, enabling people to focus on higher-value activities requiring creativity and strategic thinking (Source: TCS)
- Executives believe the impact of AI will be greater than or equal to that of the internet (54%) and smartphones (59%) (Source: TCS)
- Corporate functions with the most completed AI projects are finance/comptroller (29%), HR (28%), and marketing (28%) (Source: TCS)
- 65% of senior executives say their competitive advantage will still come from humans, with their creativity, intuition, and strategic thinking unleashed by AI’s augment and assist capabilities (Source: TCS)
- 40% of executives say they have a lot of changes to make to their business before they can take full advantage of AI (Source: TCS)
- 55% of executives are actively making changes to their business or operating models, or to their products and services, due to the potential benefits and risks of AI (Source: TCS)
- 81% of executives highlight the need for global AI standards and regulations (Source: TCS)
- 93% of executives in the UK & Ireland have AI projects aimed at growing revenue, with similar enthusiasm in North America (89%), APAC (88%), Continental Europe (83%), and Latin America (80%) (Source: TCS)
- Nearly two-thirds of BFSI (64%) and manufacturing (63%) industry executives are excited or optimistic about the impact of AI on businesses (Source: TCS)
- 69% of companies are more focused on using AI to spur innovation and increase revenue than on lowering costs and optimizing operations (Source: TCS)
- 65% of companies think human strategic decision-making and creativity will remain essential to their competitive advantage (Source: TCS)
- Only 23% of companies attributed 5% or more of their profit to AI in 2023, showing room for improvement (Source: McKinsey)
- Banking is expected to have one of the largest opportunities, with an annual potential of $200 billion to $340 billion, largely from increased productivity (Source: McKinsey)
- In retail and consumer packaged goods, the potential impact of AI is significant at $400 billion to $660 billion a year (Source: McKinsey)
- Generative AI could enable labor productivity growth of 0.1 to 0.6% annually through 2040 (Source: McKinsey)
- About 75% of the value that generative AI use cases could deliver falls across four areas: customer operations, marketing and sales, software engineering, and R&D (Source: McKinsey)
- Half of today’s work activities could be automated between 2030 and 2060 (Source: McKinsey)
- Work automation could add 0.5 to 3.4 percentage points annually to productivity growth when combined with generative AI (Source: McKinsey)
- 89% of AI decision-makers say their organization is expanding, experimenting with, or exploring the use of generative AI (Source: Forrester)
- The global artificial intelligence market size is projected to expand at a CAGR of 37.3% from 2023 to 2030, reaching $1,811.8 billion by 2030 (Source: Grandview Research)
- The India artificial intelligence market size reached $680 million in 2022 and is expected to reach $3,935.5 million by 2028, with a CAGR of 33.28% during 2023-2028 (Source: IMARC)
- AI expenditure in India surged by 109.6% or $665 million in 2018 and is estimated to surge at a CAGR of 39% to reach $11,781 million by 2025 (Source: India Brand Equity Foundation)
- AI has the potential to add close to $500 billion to India’s GDP by 2025 (Source: IBEF.org)
- AI will power 95% of customer interactions by 2025, with 19 in every 20 customer interactions being AI-assisted (Source: AI Business)
- Chinese and Indian companies lead in AI adoption, with almost 60% of IT professionals saying their organization already uses AI applications (Source: IBM)
- 44% of executives believe there is a stark difference between human-based generated content and the one generated by chatbots (Source: Forbes Advisor)
- By 2030, only 1.5% of jobs will be lost to generative AI, while 6.9% will be influenced by it (Source: Forrester)
- Global spending on AI systems is forecast to reach $204 billion by 2025, driven by investments in automation, data analysis, and customer relationship management (Source: IDC)
- AI research publications have increased by 34.5% annually over the past five years, with significant contributions from the United States, China, and Europe (Source: Elsevier)
- Collaboration between academia and industry in AI research is growing, with over 40% of AI papers in top conferences resulting from such partnerships (Source: Nature)
- 67% of executives believe that AI ethics will become a major consideration in technology deployments, requiring robust governance frameworks (Source: Capgemini)
- 62% of retailers plan to invest in AI-powered predictive analytics to enhance inventory management and customer personalization by 2025 (Source: Gartner)
- 41% of HR professionals are currently using AI for tasks such as recruitment, employee engagement, and performance management (Source: Deloitte)
- AI tools can reduce the time spent on legal research by up to 90%, allowing lawyers to focus on higher-value tasks (Source: McKinsey)
- 80% of marketing executives believe that AI will revolutionize the marketing industry by improving personalization and customer targeting (Source: Salesforce)
- 64% of supply chain executives are using AI to improve demand forecasting, inventory management, and logistics (Source: Deloitte)
- Streaming services using AI-driven recommendation algorithms see a 35% increase in user engagement and retention (Source: McKinsey)
- 75% of generative AI users are looking to automate tasks at work and use generative AI for work communications (Source: Salesforce)
