The future of B2B success lies in AI technology.
It is no secret that businesses are becoming more and more aware of the advantages that new technology and automated processes may offer. Digitization has made it possible for AI applications to grow and make money in the age of big data. The usage of AI has plenty across all industries – utilization of AI in businesses has increased by 270% just in the last four years.
The ability of any organization to enhance its revenue in many ways is fundamentally improved by AI. More than 2,300 individuals from various countries and businesses participated in the annual research on the state of artificial intelligence conducted by the McKinsey Global Institute. The survey's key finding was that businesses are primarily embracing artificial intelligence as a tool to create revenue.
Here are some 2020 statistics:
22% of respondents believe that at least 5% of their profits may be directly related to integrating AI into their company. More than half of the participants reported being able to save expenses in a variety of areas, notably when it came to the improvement of talent management and automation, demonstrating how its value translates into profit.
50% of respondents said they were using artificial intelligence in at least one aspect of their business.
Companies that regularly employ artificial intelligence and recognize its worth in their EBIT develop more rapidly than other businesses year over year. Their CEOs are also regarded as being more effective and performing better in general.
Only 16 percent of businesses have embraced machine learning—also known as autonomous learning—beyond the experimental or pilot stage. As would be expected, organizations in the technology and telecommunications sectors are setting the pace in this area.
However, all kinds of businesses can benefit greatly from this branch of artificial intelligence, especially industrial firms that can utilize data analysis to determine when it is best to ramp up or scale back production.The data reveals the types of behaviors that set the top businesses apart from the rest—those that see artificial intelligence as an opportunity to expand rather than a threat. Across all channels, AI helps distributors be more productive and profitable. Distributors are better prepared for whatever the next disruption is thanks to AI.