On a recent call to my financial adviser at Fidelity, I was given an automated message prior to my call connecting.
“Your call may be recorded for training purposes.”
That’s normal. The second part of the message was new.
It went on to tell me that my voice was not only being recorded, but uploaded into a new system that would make me easier to identify when I called in the future. Essentially, I will be able to call Fidelity and say “hello” and instead of giving personal identifiers and telling them what I’m calling about, I’ll immediately be greeted by my name, and forwarded to my adviser.
Voice recognition at its finest.
But really, this isn’t just voice recognition, it is Fidelity Lab’s new Voice User Experience driven by artificial intelligence (AI) and machine learning (ML).
Many people in the business intelligence world throw around the terms artificial intelligence and machine learning every day. But what kind of impact do AI and ML have beyond the data analytics realm?
Check out these 20 stats and facts about AI and ML to find out.
- One AI specialist on staff will cost you a salary worth one 2017 Roll-Royce Ghost Series II, or more. With salary and company stock, AI specialists can fetch compensation of $300,000 to $500,000. (The New York Times)
- Could you lose your job to AI? According to PwC, maybe. By the 2030s, they predict that around 38% of all U.S. jobs could be replaced by AI and automation. (PwC)
- Heliograf, The Washington Post’s AI writer, created approximately 850 stories in 2016 during the Rio Olympics and the 2016 presidential election. Humanity’s saving grace? Editing and analysis polishing came from human editors. (The Washington Post)
- By 2020, 57% of business buyers will depend on companies to know what they need before they ask for anything. This means having solid prediction capabilities with your AI will be the key to keeping your customers. (Salesforce)
- The first AI program, “The Logic Theorist,” was developed in 1955 by Newell and Simon. (World Information Organization)
- Researchers predict that by as soon as 2020, 85% of customer interactions will be managed without a human. That’s only two years and some change away. (Gartner)
- 80% of executives believe AI boosts productivity. (The Motley Fool)
- The AI market will grow to a $5.05 billion dollar industry by 2020. (The Motley Fool)
- Over 16.1 million Amazon Echos and 5.9 million Google Home devices have been sold, according to data collected in June 2017. That means 7% of the population aged 12+ owns an AI-based speaker device. (Edison Research, Voicebot.ai)
- “AI is not going to become self-aware, rise up, and destroy humanity.” So it’s probably time to stop doomsday prepping and learn how to manipulate AI to keep your job, not save your life. (Huffington Post)
- Machine learning heavy hitters will use more GPUs and high-end chips over CPUs for AI applications because they’re faster. (The Motley Fool)
- “Garbage in, garbage out” is especially true in ML. “You can have machine learning without sophisticated algorithms, but not without good data.” (Huffington Post)
- Everyone is exposed to machine learning every single day. Do you use an Amazon Echo? iPhone’s Siri? Netflix? Google? If you said no to Google, we know you’re lying. (Interactions)
- “Netflix saved $1 billion this year as a result of its machine learning algorithm which recommends personalized TV shows and movies to subscribers.” (StatWolf)
- According to the Data Dilemma Report, 12.5% of staff time is lost in data collection. That’s five hours a week in a 40-hour work week. (CallCredit)
- Same-day shipping from Amazon is available because of machine learning. In fact, their current ML algorithm has decreased the ‘click-to-ship’ time by 225%. (Forbes)
- 41% of consumers believe AI will make their lives better. (Strategy Analytics)
- In the U.S., only 4.5% of self-reported data scientists or data researchers specifically work as machine learning engineers. (Kaggle)
- AutoML, Google’s AI that helps the company create other AIs for new projects, learned to replicate itself in October of 2017. Essentially, AI is better at ML than humans. (Business Insider)
- AI software will grow from $1.4 billion in 2016 to $59.8 billion by 2025. (Tractica)
Want more business intelligence stats, facts, and trends?
Here’s a freebie fact just for those of you who love AI and ML as much as I do:
The underpinnings of machine learning have roots as far back as the 1700s with Thomas Bayes, from which the Bayes’ Theorem, a common algorithm for predictive modeling in ML, gains its name.
Are there any other surprising artificial intelligence or machine learning facts that the world should know about? Let me know about them in the comments below or shoot me a Tweet at @CapterraBI.
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