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47 Top AI in Recruitment Statistics for 2024

Patryk Miszczak — Sun, 26 Nov 2023 12:20:53 +0000

47 Top AI in Recruitment Statistics for 2024

AI plays a key part in the hiring process, assisting recruiters in sorting through thousands of CVs to find the best applicant and automating manual processes that would normally be required.

But how exactly can AI impact recruitment? What role does artificial intelligence play in the hiring of ideal candidates?

Let’s have a look at the AI in recruitment statistics on the tremendous impact that this rapidly growing technology has had on recruiting, as well as the enormous significance it has had in terms of the automation of manual processes.

November 26, 2023
, AI

Top AI Statistics in Recruitment

24% of companies utilize AI to hire talented employees.
According to a poll, 86.1% of recruiters, using AI technology have sped up the hiring process.
68% of recruiters think the use of AI in the recruiting process will eliminate unintended bias.
Overwhelmingly, 89% of HR professionals believe that AI will improve the applicant application process.
The majority of businesses, 92% of which are luxury labels, claim they use or are utilizing recruiting tools.
More than 90% of individuals believe that some kind of manipulation is possible with artificial intelligence. Only 9% of individuals think AI is sophisticated enough to be unmanipulated.
AI is reportedly used in the hiring process by 65% of recruiters.
Only approximately 7% of people would be unhappy if they were recruited by AI instead of a person, and 76% would be OK with it.
More than 87% of individuals believe that AI is more helpful for hiring in certain industries than in others.
According to 35% of talent experts and recruiting managers, AI in talent recruitment is the most important development influencing how they hire.
Only 10% of businesses now use AI to find applicants, while 36% want to automate their hiring procedures using AI ML in the next two years, based on a Carmichael Fisher survey.
HR managers waste fourteen hours a week on repetitive duties that can be automated.
An expanding IT business saw a 66% reduction in processing time when it used automation to screen offer letters for accuracy, freeing up four workers’ time for more important tasks.
According to 45% of HR professionals, automation will improve their work in the future, particularly in the area of recruitment.
25% of businesses say they use HR automation, mostly for recruiting and hiring.
If automation is used in the hiring process, as noted by 69% of HR professionals, the time spent on the process is greatly reduced.
Merely 40% of businesses that utilize HR automation for hiring said that their software provider was open about how their system addresses biases.
Hilton used AI in hiring, boosting talent acquisition by 40% and cutting vacancy replacement times by 90%.
41% of businesses interact with candidates during the hiring process using AI chatbots.
The expense per screening candidate has decreased by 75% for early users of AI recruitment.
Of the businesses that successfully used AI for HR functions like hiring, 41% cite strong HR and IT cooperation as a key factor in their success.
China is expected to dominate the Asia-Pacific AI recruiting industry in 2023, with a market value of around $400 million. With a $323.2 million contribution to the market value, North America trails closely behind.
Poor interviews result in 45% of job rejections, and 46% of new hires underperform, driving businesses to consider AI as a valuable recruitment solution.
Over 78% of recruiters believe that using an ATS machine raises the calibre of prospects hired.
63% of hiring professionals think AI can take on the role of applicant screening.
AI might help candidates during the application process, according to 95% of HR respondents.
According to 68% of recruiters, AI will aid in eliminating bias from the hiring process.
40% of respondents feel that their AI vendors are transparent about how their products mitigate or minimize biases.
20% of black Americans believe that hiring AI will worsen racial bias.
Americans think AI would struggle to identify a candidate’s social suitability, with 43% believing it would be worse than humans and only 17% considering it better.
Only 3% of professionals working in University Relations and Recruiting (URR) want to use artificial intelligence.
Senior HR professionals generally agree that three years is required to successfully adopt AI.
According to 71% of hiring teams, managing data requires intelligent technologies.
AI in talent acquisition is viewed as a positive idea by 92% of HR professionals.
A third of companies employ AI in their hiring processes.
AI is already used by 65% of recruiters.
In a poll, nearly 60% of respondents claimed that their companies were already utilizing AI to manage talent.
More than a hundred startups are already developing AI tech solutions specifically for HR managers.
According to 35% of talent managers and hiring specialists, AI has the biggest impact on their hiring procedures.
Approximately 85% of recruiters believe AI will play a role in hiring and be useful.
Around 67% of HR executives think AI is helpful for various aspects of the hiring process.
58% of recruiters say AI has been the most helpful in terms of finding applicants.
Additionally, 56% of respondents believe AI is most useful for applicant screening, while 55% believe it is most useful for candidate nurturing.
Approximately 89% of those surveyed think AI could help candidates with their application.
A survey conducted by LinkedIn questioned recruitment managers and found that 67% of them believe AI helps them save time.
The use of artificial intelligence (AI) in human resources procedures is seen as beneficial to the organization by 45% of those who participated in the survey.
Companies who employ AI for recruitment have the ability to minimize attrition by 35% and cut their cost-per-screen expenses by 75%.

Market Size of AI in Recruitment

From challenging capacities to integrating new programs and optimizing procedures, AI has the potential to have a tremendous influence on the recruiting business.

In general, it strives to bring together human and artificial intelligence in order to advance the cause of development. And because of this, the “AI Recruitment Market” is anticipated to expand significantly between 2023 and 2028.

By 2028, it is predicted that the market size for AI recruiting will increase to USD 890.51 million (Facts & Factors)

Facts and Factors projects that the value of the worldwide AI recruiting market will rise from USD 610.3 million in 2021 to USD 890.5 million in 2028, expanding at a CAGR of almost 6.5% during the forecast period.

The industry for AI recruiting is expected to continue growing at a compound annual growth rate (CAGR) of 6.9%, from USD 590.5 million in 2023 to USD 942.3 million by 2030 (Market Research Future)

In 2022, the size of the market for AI recruiting was evaluated at 540.4 million USD. Whereas, the artificial intelligence recruitment market industry is predicted to increase from $590.5 million in 2023 to $942.3 million by 2030, demonstrating a compound yearly growth rate (CAGR) of 6.9% over the course of the forecast period of 2023–2030.

Enterprise Growth Trends in the AI Recruitment Market

In the AI recruitment market, the enterprise sector dominates with the largest market share and a projected 9.14% CAGR (Market Research Future)

The AI recruitment market, segmented by vertical types, reveals the enterprise sector as the predominant influencer, holding the largest market share. Projections indicate an impressive 9.14% CAGR for the enterprise segment throughout the forecast period. Specifically, manufacturing, trading, and packaging industries within the enterprise sector showcase a notable reliance on AI for optimizing their recruitment processes. This highlights the transformative role of AI in reshaping talent acquisition within enterprises.

Global Adoption of AI in Recruitment

Around the world, more and more companies are using AI for hiring. This means they’re using smart computer programs to help find the best people for jobs. It’s like having a high-tech assistant to make hiring faster and better.

AI is used in HR, which includes recruitment, by 88% of businesses worldwide (Society of Human Resources Management)

Although generative AI is quite popular right now, the HR sector is actually not new to this technology. The Society of Human Resources Management reports that 88% of companies globally use AI-powered technologies for their HR procedures.

AI’s Growing Trend in Recruitment

Artificial Intelligence (AI) is becoming a big deal in hiring! More and more companies are using AI to help find the right people for jobs. Let’s explore how AI is changing the way recruiters recruit and hire.

According to 46% of HR executives, investing in new technology, particularly AI, is the top priority for 2023 (Gartner)

In the rapidly evolving landscape of human resource management, the latest insights from Gartner indicate a pivotal shift in priorities among HR executives. According to their findings, a substantial 46% of HR executives are placing a significant emphasis on investing in new technology for the year 2023, with a specific focus on the integration of Artificial Intelligence (AI).

Currently, 30% of organizations screen applicants with algorithms as part of the hiring process; 40% intend to do so within the next year (Mercer)

In the present scenario, 30% of companies have incorporated algorithms into their recruitment processes. These algorithms, essentially computer programs, are utilized to analyze and screen candidates effectively. What’s noteworthy is that an additional 40% of firms are actively considering the implementation of such algorithms in their hiring procedures within the upcoming year. This suggests a growing trend towards leveraging technology to streamline and enhance the candidate selection process.

AI is used by 44% of companies to evaluate applicants based on online data from social media and other sources (Mercer)

In the hiring landscape, 44% of companies are leveraging the power of Artificial Intelligence (AI) to strategically filter and identify the best candidates. This involves the analysis of publicly available information on the internet, particularly from sources like social media profiles. By employing AI in this screening process, these companies aim to enhance the efficiency of candidate evaluation and selection, showcasing a contemporary approach to talent acquisition that harnesses technology for more informed decision-making.

The Importance of AI in Recruitment

AI in recruitment is a game-changer that brings a lot of benefits to the hiring process. It’s like having a super-smart helper that quickly finds the perfect match between job openings and candidates. It speeds up the process, spots hidden talents, and makes hiring more efficient for everyone.

93% of millennials surveyed believed a company’s use of modern technology played a significant role in their decision to accept or decline a job offer (SurveyMonkey)

In a survey where over 1,000 millennials were asked, 93% mentioned that it’s really important for a company to have the latest technology, including AI, when they’re deciding whether to accept or turn down a job offer. This shows how much importance millennials place on working for tech-savvy companies.

46% of HR leaders reported that the most important thing right now is HR technology (Gartner)

According to the findings of a survey conducted by Gartner in October 2022 with 118 HR leaders, the top investment areas for HR leaders in 2023 are hiring and staffing, total compensation, and development and learning.

Where is AI Used in Recruitment?

How can recruiters discover methods to make their lives simpler and their duties more bearable when there are so many people vying for a much smaller number of positions? Artificial intelligence (AI) has the potential to be useful in situations like these.

In the process of recruiting new employees, 58% of recruiters that use AI have found that it is most useful for sourcing candidates (LinkedIn)

58% of the recruiters who used AI in the recruiting process found that it was most helpful with sourcing candidates; 56% of the recruiters who used AI in hiring found that it was most advantageous in Screening Candidates; and 55% of the recruiters who used AI in the recruiting process found that it was most beneficial in Nurturing Candidates.

How is Artificial Intelligence Used in Recruitment?

Automation made possible by AI helps recruiters to shift their focus to the applicant and reduces the potential for bias in the hiring process. They are able to improve the quality of their recruiting decisions by looking at massive data collections from the talent market and maintaining regular communication with prospects. Because of this, employers are now able to more accurately represent applicants.

92% of human resource professionals want to use AI in the process of talent acquisition (eightfold.ai)

According to a recent study conducted by Eightfold AI, change agents in HR are increasingly embracing the potential of AI to help them make better-informed personnel choices at scale. In point of fact, 92 percent of businesses have plans to expand their use of AI in at least one sector of human resources (HR), which may include recruiting process, management procedures, the processing of payments, and the onboarding of newbies.

See also our latest AI in business statistics.

HR executives are using artificial intelligence in:

The goal of 56% of businesses utilizing AI for HR is to automate tedious work (Gartner)

A substantial 56% of companies that have integrated AI into their human resources practices are directing their efforts towards the automation of repetitive tasks.

This implies that these organizations are leveraging artificial intelligence to handle routine and monotonous aspects of HR operations, freeing up valuable time and resources.

By automating tasks like data entry, scheduling, and other repetitive processes, these companies aim to enhance efficiency, reduce manual workload, and allow HR professionals to focus on more strategic and complex aspects of talent management.

Benefits of AI in Recruiting

AI is an investment that not only provides a great value but has minimal ongoing costs. It is powered by algorithm-based programming that can be tailored to aid recruiters in meeting the high recruiting needs of their respective firms.

According to 67% of hiring professionals, the main advantage of employing AI is time savings (Statista)

Saving time is considered the primary advantage of utilizing AI for recruitment purposes by 67% of those who make hiring decisions. In addition to this, it can help eliminate prejudices, save money, and locate the best applicants.

Types of Benefits	Share of Respondents
Saves time	67%
Removes human bias	43%
Delivers best candidate matches	31%
Saves money	30%

Businesses that switched to HR automation systems claimed to have saved 90% of their time on administrative work (Nucleus Research)

When companies switched to using HR automation systems, they found that they saved a lot of time—specifically, a whopping 90% less time spent on administrative tasks. This means less effort on routine paperwork and more time for important things.

Almost 67% of HR experts think AI has several advantages and a beneficial effect on the hiring process (Tidio)

Individuals believe that artificial intelligence will save the recruiter’s time, making it simpler for the recruiter to do their work and give significant insights throughout the recruiting process.

42% of recruiters believe that artificial intelligence will make it possible for them to work more strategically (Aptitude Research)

Artificial intelligence doesn’t appear to be a concern for recruiters anymore (AI). According to the report, 42% of recruiters think AI will enable them to operate more strategically. According to this survey, recruiters are adopting AI. It makes them more effective and enhances the applicant’s experience.

Challenges of AI in Recruitment

Navigating the world of Artificial Intelligence in recruitment comes with its own set of challenges. As companies increasingly turn to AI to streamline their hiring processes, some concerns and obstacles need careful consideration.

Understanding and addressing these challenges is crucial for ensuring a fair and effective recruitment landscape. From potential biases in algorithms to the need for human touch in decision-making. Let’s explore some of the key hurdles that arise in the realm of AI in recruitment.

54% of businesses that use HR automation for hiring have encountered issues with the technologies, such as eligible candidates being inadvertently excluded by the algorithms (SHRM)

For companies utilizing HR automation in their hiring processes, 54% have encountered challenges with the tools. These difficulties include instances where the algorithms mistakenly excluded candidates who were actually qualified for the positions. This highlights a noteworthy issue in the effective implementation of HR automation, emphasizing the importance of refining these tools to ensure accurate candidate evaluations and a more seamless recruitment experience.

According to 35% of hiring managers, AI can overlook exceptional and distinctive talent (HRMorning)

About 35% of recruiters worry that AI might miss out on finding unique and unconventional talent, highlighting a concern that automated systems may not fully recognize valuable qualities and skills in candidates.

Candidates oppose the 79% of recruiters who believe AI will be advanced enough to make complete hiring and firing decisions (Tidio)

In a survey of more than 10,000 recruiters, 79% predicted that AI would advance to the point where it could independently select and reject candidates in addition to screening them; candidates, on the other hand, agreed less strongly—43 percent. Furthermore, 69% of applicants say they would feel uneasy if AI made all of the employment decisions.

22% of HR employees fear losing essential human interactions due to AI in HR tasks (Mercer)

As HR tasks go online with AI automation, 22% of HR employees fear losing essential human interactions, raising concerns about a soulless workplace and the risk of missing valuable human connections in candidate selection.

AI’s Expected Impact on Recruitment

Artificial Intelligence (AI) is changing the way companies find and hire new employees. AI’s impact on recruitment is expected to be significant, as it introduces innovative tools and processes to streamline and enhance the hiring process. Let’s explore how AI is shaping the future of recruitment.

In a Yoho survey, 99% of UK HR managers expect AI to boost workplace benefits like better decision-making (32%), increased productivity (30%), task automation (30%), and enhanced innovation (30%) (People Management)

A Yoho Workplace Strategy survey found that 99% of HR managers and directors in the UK expect AI to have a positive impact on the workplace.

Possible Advantages	Percentage
Improved support for decision-making	32%
More efficacy and productivity	30%
Regular task automation	30%
Improvements in imaginative thinking and creativity	30%

Embracing AI in Recruitment

Embracing AI in recruitment is like giving your hiring process a smart upgrade. It’s about using technology to make finding the right people quicker and more efficient.

54% of human resources managers view automation as a tool to help them concentrate their valuable time on more important activities rather than as a threat to their jobs (BOSS Magazine)

Over half of HR professionals, specifically 54%, don’t feel like automation is a threat to their jobs. Instead, they see it as a helpful tool. Automation allows them to spend less time on routine tasks, like paperwork, and focus more on important jobs that require a personal touch, like understanding and supporting employees. So, for these professionals, automation is seen as a way to make their work more meaningful and effective.

While 46% of respondents want resources to identify and address bias when utilizing the tools, 30% of poll respondents feel HR automation helps minimize bias while recruiting (SHRM)

Among survey respondents, 30% acknowledged that HR automation plays a role in mitigating potential bias during their hiring processes. However, a notable 46% expressed the need for additional resources to identify and address any bias that may still exist when using these tools.

This indicates a recognition of the positive impact of HR automation in reducing bias, coupled with a desire for ongoing support and tools to ensure fairness and equity in the recruitment process.

Potential of AI in Recruitment

51% of businesses use automation in an effort to reduce costs (Gartner)

Fifty-one percent of companies are turning to automation to cut costs. This reflects a strategic move to streamline operations, reduce manual effort, and boost overall efficiency. The focus on automation aligns with a broader trend in businesses leveraging technology for both innovation and tangible financial benefits in a competitive landscape.

It is anticipated that 56% of HR tasks can be automated without significantly altering current procedures (McKinsey & Company)

Without making significant changes, automated machines could handle about 56% of the tasks that HR professionals typically perform. This suggests that using technology for routine jobs could free up time for HR professionals to focus on more important and thoughtful work.

The Significance of AI in Corporate Recruitment

Exploring the impact of AI in corporate recruitment is like diving into the future of hiring. Instead of traditional methods, AI brings smart technologies that can analyze resumes, identify the best candidates, and even predict their success in a role.

Enterprises spend the most on AI recruitment, with 40.5%. Smaller businesses follow at 35.5%, and mid-sized companies allocate 24% (Statista)

Large companies are investing significantly in AI recruitment, leading the way with a substantial 40.5% of the budget allocation. Following closely are smaller businesses, which dedicate 35.5% of their resources to AI recruitment tools. Meanwhile, mid-sized companies are also active in adopting this technology, with a noteworthy 24% budget share. This distribution highlights the widespread recognition across different business scales of the value that AI brings to the recruitment process.

Types of Companies	Share of Respondents
Enterprise	40.5%
Mid-market	24%
Small and medium businesses	35.5%

Impact of AI on Recruitment

AI is revolutionizing the hiring landscape for companies and job seekers alike. Picture having a highly intelligent assistant streamlining the hiring process! That’s the power of AI. By employing cutting-edge technology, AI analyzes information to make swift and efficient decisions about job candidates.

60% of jobs, or at least one-third of their operations, can be automated, resulting in major workplace changes for all workers (McKinsey & Company)

For a considerable 60% of job roles, automation has the potential to handle at least one-third of the tasks involved. This foretells significant changes and transformations in the workplace, impacting workers across various sectors.

According to a U.K. research report, automation eliminated 800,000 jobs while creating 3.5 million new ones (Deloitte)

In the UK, a study found that machines took over about 800,000 jobs. But here’s the interesting part: they also created 3.5 million new jobs. So, while some jobs changed, lots of new ones popped up.

According to 86.1% of hiring managers, the use of ATS machine learning expedites the hiring process (GetApp)

A significant majority of recruiters, precisely 86.1%, are of the belief that employing machine learning within Applicant Tracking Systems (ATS) accelerates the recruitment process, showcasing a widespread acknowledgment of the efficiency gains associated with integrating advanced technologies into the hiring workflow.

Yoho’s research reveals notable HR concerns about AI in the workplace, with 29% actively considering ethical implications (People Management)

The Yoho research indicates significant HR concerns about AI in the workplace, with 29% actively considering the ethical implications. Other top worries include reduced human interaction, overdependence on technology, and concerns about technical functionality, security, and privacy. These concerns highlight the importance of ethical considerations and the careful implementation of AI in HR practices.

Top HR Concerns	Percentage
Potential reduction in human interaction	30%
Over-reliance on technology	30%
Issues related to technical functionality	29%
Security and privacy	29%

Future of Artificial Intelligence in Recruitment

It seems that AI HR software is likely to play a significant role in the future of recruitment, which promises to be an interesting development.

According to 84% of corporate executives, artificial intelligence (AI) is the trend that will enable them to maintain their competitiveness and gain an edge in the job market in the future (Forbes)

According to research published by Forbes, business leaders believe that artificial intelligence (AI) is the trend that will help them to retain their competitiveness and acquire an advantage in the job market in the future.

By 2030, there will be 6 million enterprises utilizing recruiting software globally, up from the current use of over 4.8 million (SkyQuest)

Recent research conducted by SkyQuest indicates that demand for recruiting software is on the increase. More than 4.8 million enterprises throughout the world are already making use of recruiting software, and it is anticipated that this figure will rise to 6 million by the year 2030.

AI in Recruitment Final Words

While, Artificial Intelligence is revolutionizing recruitment by making processes more efficient, its adoption is particularly prominent in large businesses, where it’s seen as a valuable tool for tasks like candidate sourcing and screening. AI brings benefits such as time savings, unbiased decision-making, and better matches between candidates and jobs. However, there are concerns about potential biases and the impact on human interactions. Despite these concerns, many HR professionals are open to embracing AI for its potential to enhance talent acquisition. Looking ahead, the future of AI in recruitment appears promising, with an expected increase in its use across various industries.

References

Staff, V. (2022). Report: 92% of HR leaders plan on using AI to acquire talent. VentureBeat. Retrieved 1 October 2022, from https://venturebeat.com/ai/report-92-of-hr-leaders-plan-on-using-ai-to-acquire-talent/.
Talent Acquisition. Eightfold. (2022). Retrieved 1 October 2022, from https://eightfold.ai/products/talent-acquisition/.
Spanjaart, J. (2022). Friday Fact: 73% of companies want to invest more in recruitment technology in 2022. Recruitmenttech.com. Retrieved 1 October 2022, from https://www.recruitmenttech.com/friday-fact-73-of-companies-want-to-invest-more-in-recruitment-technology-in-2022/.
Lisowski, E. (2022). Artificial intelligence in recruitment – how does it work in HR? (update: September 2021). Addepto. Retrieved 1 October 2022, from https://addepto.com/blog/artificial-intelligence-in-recruitment-how-does-it-work-in-hr/#.
Stefanowicz, B. (2022). AI Recruitment: The Future of Hiring or HR’s Nightmare?. Tidio. Retrieved 1 October 2022, from https://www.tidio.com/blog/ai-recruitment/.
Study on Global AI Recruitment Market Size to Hit US$ 890.51 Million, at a CAGR of 6.5% by 2028. Facts and Factors. (2022). Retrieved 1 October 2022, from https://www.fnfresearch.com/news/global-ai-recruitment-market.
(2022). Retrieved 1 October 2022, from https://www.analyticsinsight.net/how-ai-can-be-time-and-budget-saving-in-recruitment/.
Case, T. (2021). Covid ‘forced us to be creative’: How AI is being used to recruit and onboard talent. WorkLife. Retrieved 1 October 2022, from https://www.worklife.news/technology/ai-is-being-used-to-recruit-and-onboard-talent/.
Helfrich, T. (2022). Council Post: How To Scale Your Business With AI. Forbes. Retrieved 1 October 2022, from https://www.forbes.com/sites/forbestechcouncil/2022/03/16/how-to-scale-your-business-with-ai/?sh=20d06f7842bc.
Global Recruitment Software Market to Hit $3.85 Billion by 2028 | Small Businesses to Offer Lucrative Growth Opportunity While AI to Shape the Future. GlobeNewswire News Room. (2022). Retrieved 1 October 2022, from https://www.globenewswire.com/news-release/2022/08/18/2500871/0/en/Global-Recruitment-Software-Market-to-Hit-3-85-Billion-by-2028-Small-Businesses-to-Offer-Lucrative-Growth-Opportunity-While-AI-to-Shape-the-Future.html.
The 4 Trends Changing How You Hire in 2018 and Beyond. Linkedin.com. (2018). Retrieved 1 October 2022, from https://www.linkedin.com/business/talent/blog/talent-strategy/trends-shaping-future-of-hiring.
Brin, D. W. (2019, March 22). Employers embrace artificial intelligence for HR. SHRM. https://www.shrm.org/resourcesandtools/hr-topics/global-hr/pages/employers-embrace-artificial-intelligence-for-hr.aspx
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Jobs lost, jobs gained: What the future of work will mean for jobs, skills, and wages. (2017, November, 28), McKinsey & Company. https://www.mckinsey.com/featured-insights/future-of-work/jobs-lost-jobs-gained-what-the-future-of-work-will-mean-for-jobs-skills-and-wages
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More than half of HR managers say artificial intelligence will become a regular part of HR in next 5 years. (n.d.). Press Room | Career Builder. https://press.careerbuilder.com/2017-05-18-More-Than-Half-of-HR-Managers-Say-Artificial-Intelligence-Will-Become-a-Regular-Part-of-HR-in-Next-5-Years
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Patryk Miszczak

I am an author, blogger, and full-time online entrepreneur based in the UK, focusing on e-commerce and affiliate marketing. Business Solution provides people with currently working marketing techniques that I personally use to build profitable online businesses, including SEO, traffic generation, affiliate marketing, and more.

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Top AI in eCommerce Statistics (Updated for 2024)

Patryk Miszczak — Thu, 16 Nov 2023 07:10:53 +0000

Top AI in eCommerce Statistics (Updated for 2024)

With the fast advancement of science, technology, and economic society, artificial intelligence (AI) has emerged as a major driving force in the growth of e-commerce.

But how exactly can AI impact e-commerce? What role does artificial intelligence play in the expansion of e-commerce? What type of eCommerce AI tools do businesses adopt most often?

Let’s have a look at the statistics regarding the significant influence that AI has had and the huge relevance it has had on the growth of e-commerce.

November 16, 2023
, AI

Top AI Statistics in Ecommerce

For a smooth experience, 51% of e-commerce businesses employ AI.
By 2023, organizations using AI are forecast to see a 25% increase in consumer satisfaction.
90% of organizations that have already used AI said that they use or plan to use AI for sales forecasting in the future.
Compared to human customer care agents, the cost of using an AI chatbot is reduced by 30%. This is due to the chatbot’s increased efficiency and availability.
According to statistics, 1.4 billion individuals use chatbots globally now, and studies show that using a chatbot significantly enhances sales by 67%.
By 2027, 80% of retail executives anticipate that their organizations will use intelligent automation that is driven by AI.
The implementation of AI is cited as the top priority for business strategy by 83% of firms.
55% of eCommerce firms create high-quality leads with the aid of chatbots.
Artificial Intelligence (AI) produced 35% of Amazon’s revenue.
Response rates from chatbots can reach 40%.
Almost a third of American shoppers, around 28%, utilize their mobile phones while in an online store to search for discounts, compare items, and read reviews about products.
In their CX initiatives, 80% of businesses already have chatbots planned or in use.
47% of customers said they would be open to purchasing goods through chatbots.
Nearly 90% of chatbot interactions are either positive or neutral.
Virtual assistants and chatbots are examples of prebuilt AI technologies that are used by 40% of US, EU, and Chinese enterprises.
34% of online shoppers stated that they would rather use chatbots or virtual assistants to respond to inquiries from AI.
Due to technology integration, 43% of companies plan to reduce their personnel.
A third of consumers in retail stated they would feel more comfortable chatting with an AI chatbot than a live customer support representative.
In 2023, 44% of businesses in the private sector intend to invest in AI technology.
AI-powered voice assistants are now in use on over 4 billion devices.
40% of individuals use the voice search feature at least once a day.
According to 48% of marketing executives, artificial intelligence has changed how customers connect with them the most.
51% of e-commerce companies use AI to deliver a flawless experience.
64% of B2B marketers value AI as a component of their marketing strategy.
Just 27% of customers believe AI can provide customer service that is on par with or superior to that of humans.

Market Size of AI in Ecommerce

In the retail business, the value of artificial intelligence is predicted to increase from an estimated USD 1,714.3 million in 2021 to USD 36,462.5 million by 2030 (Precedence Research)

As of the latest research of 2022, the value of artificial intelligence in the retail industry is expected to rise from an estimated USD 1,714.3 million in 2021 to USD 36,462.5 million by 2030 as e-commerce sales are expected to expand by USD 7.3 trillion by 2025.

The market for AI-Enabled E-Commerce Solutions is expected to be valued at 16.8 billion dollars by the year 2030 (InsightAce Analytic)

Based on the most recent market intelligence study by InsightAce Analytics, the worldwide AI-Enabled E-Commerce Solutions Market size was estimated at $3.71 billion in 2021 and is projected to reach $16.8 billion in 2030, registering a promising CAGR of 15.7% from 2021 to 2030.

By 2023, it is anticipated that the value of eCommerce transactions conducted through chatbots would reach $112 billion (Juniper Research)

In the present day and age of conversational eCommerce, one method to steer the discussion is to make use of artificial intelligence in the form of “chatbots.”

This is only one of many possible approaches. It is estimated that by the year 2023, the value of eCommerce transactions that are carried out using chatbots will reach $112 billion.

The Growth of AI-Powered E-Commerce Solutions

In the landscape of online commerce, the growth of AI-powered solutions emerges as a transformative force, signifying a profound shift in the way businesses approach e-commerce solutions.

By 2030, the market for e-commerce solutions powered by AI is expected to be worth $16.8 billion (InsightAce Analytic)

The market for AI-powered e-commerce solutions is expected to reach $16.8 billion by the year 2030, indicating that artificial intelligence is becoming an increasingly valuable tool for online businesses.

Where is AI Used in Ecommerce?

Consumers as well as enterprises are benefiting from artificial intelligence, particularly in the fields of retail and e-commerce. The introduction of technologies such as conversational chatbots, recommendation systems, automatically produced product descriptions, tailored search, and quicker checkout is only the beginning.

In developing economies, 57% of respondents claim to have implemented AI (McKinsey)

The most typical use of AI in marketing and sales is analytics geared toward improving the customer service experience. As of right now, 57% of all respondents in developing economies claim to have implemented AI, as stated in the research that McKinsey compiled on the subject of AI adoption in 2021.

See also the latest AI in customer service statistics.

By 2030, the market for chatbots will be worth $3.99 billion (Grandview Research)

One of the most popular types of AI to use in eCommerce shops is thought to be chatbots. Grandview Research predicts that the worldwide chatbot industry will grow to $3.99 billion in size by 2030. This indicates that between 2022 and 2030, the market will expand at a CAGR of 25.7%.

By 2025, 75% of Americans will possess a smart speaker, producing $35.5 billion in revenue (Loup Ventures)

The implementation of voice bots has accelerated the development of the digital sales sector in the world’s biggest e-commerce platform. By 2025, 75% of Americans will have a smart speaker; hence there is a probability that e-commerce enterprises may see a breakthrough as more homes adopt this technology.

Upcoming categories in which AI will assist e-commerce enterprises, according to North American and European decision-makers in 2021 (Statista)

Categories	Share of respondents
Personalization	70%
Site search	54%
Forecasting	52%
Marketing	43%
Pricing	38%
Customer services	34%
Sales	28%
Fraud prevention	25%
Product assortments	19%
Delivery	15%
Order management	15%
I don’t believe AI will help our company	4%
Other	3%

Benefits of AI in Ecommerce

In the next few years, AI will alter the e-commerce business, but it is already having an impact in the present. AI plays a significant role in enhancing consumer experiences and developing novel solutions in the e-commerce sector.

Incorporating AI into marketing and sales, according to 79% of respondents, has enhanced company revenue (McKinsey)

According to McKinsey’s research on the status of artificial intelligence, 79% of respondents said that incorporating AI into marketing and sales had enhanced corporate revenue. The gain in income differs, but AI-based marketing strategies enable businesses to produce at least 20% more revenue.

See also our latest AI business statistics.

In 2020, Amazon has effectively eliminated 200 million bogus reviews with the assistance of artificial intelligence (Enrico Frahn)

It is essential to filter out bogus reviews, which can be possible with the help of AI. Several companies, like Amazon, use AI to combat paid or bogus reviews.

By addressing cart abandonment concerns with the QUIN audience engine, Decathlon was able to raise sales by 15% in just 15 days (QUIN Engine)

With the QUIN audience engine effectively addressing cart abandonment, Decathlon witnessed an impressive 15% surge in sales within just 15 days. This quick turnaround underscores the impactful role of targeted strategies in enhancing e-commerce performance.

AI-Powered Defense in eCommerce

51% of businesses depend on AI mainly for threat detection, while 75% rely on it for data protection (Statista)

Eighty percent of respondents from the telecom sector claimed that their firm would be unable to respond to threats without artificial intelligence.

Organizations	Share of Organizations
Telecom	80%
Consumer Products	78%
Banking	75%
Overall	69%
Retail	68%
Automotive	64%
Insurance	61%
Utilities	59%

How AI is Changing Consumer Behavior in Online Shopping

Embracing the era of digital convenience, consumer behavior in online shopping is undergoing a significant transformation.

Before making a purchase, 81% of customers conduct research online about the goods (Invoca)

Research is essential to the success of online retail businesses since around 81% of consumers check up on information online regarding a product before making a purchase decision, according to a study conducted by Invoca.

Voice search has been adopted by 44% of customers to add goods to their purchasing lists, compared to 55% who use it for product research (Perficient)

Have you noticed how more people are interacting with their devices with voice search? It’s really changing up the game in how we shop online. Perficient did a survey and found that 55% of people use voice search to learn more about goods, and 44% have used it to add things to their shopping lists.

Integrating AI in the E-commerce Landscape

As e-commerce evolves, the integration of Artificial Intelligence (AI) emerges as a transformative force for brands, bringing in a new era of online retail experiences through the incorporation of virtual reality and chatbots.

Artificial intelligence and virtual reality have been included into e-commerce sites by 78% of brands, either now or in the future (Oracle)

For their online storefronts, over 78% of brands are either fully considering or hopping on virtual reality and artificial intelligence. Furthermore, according to sales and marketing experts, 80% of businesses either use chatbots now or have plans to employ them in the future for their customer experience strategies. It appears that technology is dominating the e-commerce market!

Generative AI Adoption and Personalized Experiences in E-Commerce

In 2023, 60% of industry leaders adopted generative AI for in-store product recommendations, with 39% evaluating its implementation (Statista)

By the year 2023, roughly six out of ten decision-makers in worldwide industries had already adopted generative artificial intelligence for the purpose of creating product suggestions that were used by store associates in physical stores.

Commercial Cases	Share of Respondents
Evaluating its adoption	39%
Conversational digital shopping assistants	55%
Constructing virtual models	52%
Curate personalized product bundles	51%

When brands provide personalised experiences, 80% of customers are more likely to purchase from them (Epsilon)

According to a 2022 Epsilon survey, brands that offer personalised experiences have the potential to catch the attention of 80% of customers, increasing the chance of sales. Generative AI improves personalization by analysing a user’s past behaviour, choices, and engagements to make personalised product recommendations.

AI Challenges in E-Commerce

In 2023, global survey findings revealed mixed comfort levels with AI personalization in online shopping; 43% of Baby Boomers opposed it, while only 15% of French Gen Z shoppers shared the same sentiment (Statista)

While the possibilities for artificial intelligence (AI) to elevate personalization in the online shopping experience are vast, a 2023 global survey across twelve countries highlighted that not all consumers are at ease with this form of AI utilization. Specifically, 43% of Baby Boomers expressed reluctance towards AI personalization in their customer journey, whereas only 15% of French Gen Z shoppers shared a similar sentiment.

In early 2023, consumer adoption of AI in payments was low, with only 10% considering its use in two years due to awareness and security concerns, as noted in a 14-country survey (Statista)

In early 2023, consumer adoption of artificial intelligence in payments was limited, as revealed by a survey across 14 countries in North America, Europe, and Latin America. About 10% of respondents indicated a potential interest in using AI in the next two years, citing concerns about security and a lack of awareness as primary reasons for hesitation.

Merely 34% of customers are aware that they are interacting with AI directly (Pegasystems Inc.)

In a study by Pegasystems Inc., it was revealed that a mere 34% of consumers are aware that they are directly encountering artificial intelligence, although an overwhelming 84% acknowledged using one or more AI-powered devices or services when surveyed about their technology usage.

AI Adoption and Customer Expectations

Some consumers use computer smarts to help them find things they like, while others make it easy for them to do it themselves. It’s like a balancing act.

61% of customers prefer self-service for simple issues, yet 65% expect an immediate response when reaching out to a company (Salesforce)

A notable 61% of customers express a preference for self-service options when dealing with simple issues, emphasizing the growing demand for streamlined and efficient solutions. Intriguingly, in a seemingly contradictory trend, a significant 65% of customers simultaneously expect prompt responses when initiating contact with a company. This customer expectation highlights the intricate balance that businesses need to strike between offering seamless self-service experiences and ensuring timely, human responsiveness to meet the diverse needs and preferences of their customer base.

69% of consumers are amenable to having AI enhance their product search experience (Salesforce)

Tailored experiences not only increase consumer loyalty but also improve the reputation of your brand. Predictive intelligence directs users to products that align with their choices, obviating the necessity of sifting through an overwhelming number of search results by substituting traditional search methods with conversational AI, which continues to be favoured by customers. Fortunately, 69% of customers are open to using AI to improve their overall experience.

AI Revolutionizing Procurement and Supply Chain Management

Organizations that implemented AI in their procurement procedures experienced a 15% decline in procurement expenses and a 35% decrease in revenue lost as a result of stockouts (McKinsey)

Generative AI can be used in procurement to exactly figure out the best amounts of products to buy and when to reorder them. According to a report that was published in 2023 by McKinsey, companies that used AI in their purchasing processes experienced a significant 15% reduction in procurement expenditures as well as an amazing 35% reduction in lost revenues as a result of stockouts.

Using AI-driven forecasting in supply chain management can cut errors by 20-50%, resulting in a substantial 65% decrease in lost sales and product unavailability (McKinsey)

AI models outperform conventional spreadsheet-based analytics, particularly in supply chain management. Employing AI-driven forecasting can cut errors by 20-50%, leading to a remarkable 65% reduction in lost sales and product unavailability. This positive impact extends to a drop in warehousing costs by 5-10% and a substantial decrease in administration costs ranging from 25 to 40%.

Navigating Customer Sentiments Amidst AI Advancements

According to 68% of customers, improvements in AI make it more crucial for businesses to be trusted (Salesforce)

Amidst concerns about the ethical implications of AI, there exists a strategic window for companies to harness the technology in inventive, trust-building ways. A substantial 68% of customers believe that AI advancements heighten the significance of companies being perceived as trustworthy.

Future of Artificial Challenges in Ecommerce

Over the course of the last several years, artificial intelligence technology has evolved and developed into a strong tool that can increase sales and improve operations. Also, many smaller e-commerce companies are adopting technology with some kind of artificial intelligence (AI) potential.

E-commerce sales reached about $5 billion by the start of 2021, and by 2024, they will increase to approximately $6 billion annually (Statista)

E-commerce sales reached approximately $5 billion by the beginning of 2021, and analysts predict that by the beginning of 2024, that number will have increased to over $6 billion annually.

This surge in online retail can be attributed to the growing digitalization of businesses and the increasing comfort of consumers with online transactions.

By the year 2035, it has the potential to increase profitability rates in the wholesale and retail sectors by 59% (Accenture)

According to a survey by Boston Consulting Group, retailers who have adopted personalization approaches have witnessed sales improvements of 6-10%, which is a pace two to three times quicker than other retailers (BCG). According to Accenture’s research, this may potentially result in a 59% increase in the profitability rates of the wholesale and retail sectors by the year 2035.

By 2026, the market for eCommerce recommendation engines will be worth $15.13 billion (Mordor Intelligence)

Mordor Intelligence emphasized the market’s rising value. The market for eCommerce recommendation engines is anticipated to grow to $15.13 billion in revenue by 2026, based on the company’s analysis.

Surveyed CEOs anticipate a substantial impact from AI-driven customer bases, with 49% predicting significance by 2030 and 22% foreseeing a notable influence in their industries by 2025 (Statista)

Artificial intelligence (AI) may also mimic human customers by making purchases, among other tasks. In this regard, CEOs from global corporations predict that machine customers will continue to be a significant trend in the future. Their surveyed expect AI-driven customer bases to have a significant impact; of these, 49% believe it will become significant by 2030, and 22% believe it would have a significant impact on their businesses as early as 2025.

By 2025, advanced AI chatbots will handle 95% of customer conversations, reducing the need for human intervention to just 5% (Gartner, Inc.)

Gartner, Inc. forecasts that in the coming decade, AI-driven proactive chatbots will enhance the customer experience by anticipating customer needs and establishing emotional connections. As per Gartner’s projections, advanced chatbots are expected to handle 95% of customer interactions, significantly reducing human involvement to just 5%.

AI will contribute 26.1% to China’s GDP by 2030, surpassing the global rankings, with North America at 14.5% and the United Arab Emirates at 13.5% (Statista)

In the coming decade, Artificial Intelligence (AI) is poised to play a substantial role in the GDPs of major economies. According to data from Statista, China is projected to lead with a remarkable 26.1% contribution to its GDP by 2030. Following closely, North America is anticipated to have a 14.5% contribution, while the United Arab Emirates is expected to reach 13.5%.

By 2025, retailers are estimated to spend $12 billion per year on AI products (Juniper Research)

AI made its mark on e-commerce in the mid-2010s, initially through recommendation engines and chatbots. Over time, its influence has grown, now overseeing various facets of e-commerce, including inventory management and customer service. A 2023 study by Juniper Research suggests that retailers are projected to invest $12 billion annually in AI tools by 2025, underscoring the increasing significance of this technology in the sector.

AI in Ecommerce Stats Wrapping Up

The manner in which business is conducted is changing as a result of the use of AI in the e-commerce sector. Not only does it make buying simpler, but it also lowers expenses and boosts the organization’s top and bottom lines.

References

E-commerce areas where AI is useful 2021 | Statista. Statista. (2021). Retrieved 27 August 2022, from https://www.statista.com/statistics/1175063/ai-help-business-ecommerce-companies-worldwide/.
What is Artificial Intelligence (AI) & Why is it Important? | Accenture. Accenture.com. Retrieved 27 August 2022, from https://www.accenture.com/us-en/insights/artificial-intelligence-summary-index.
Recommendation Engine Market Size, Share (2022 – 27) | Industry Forecast. Mordorintelligence.com. Retrieved 27 August 2022, from https://www.mordorintelligence.com/industry-reports/recommendation-engine-market.
Purdy, M., & Daugherty, P. (2021). Accenture.com. Retrieved 27 August 2022, from https://www.accenture.com/fr-fr/_acnmedia/36dc7f76eab444cab6a7f44017cc3997.pdf.
Use of AI for cybersecurity by industry 2019 | Statista. Statista. (2022). Retrieved 27 August 2022, from https://www.statista.com/statistics/1028762/worldwide-reliance-ai-respond-to-cyber-attacks-by-industry/.
The State of AI in 2021. (2021). Retrieved 27 August 2022, from https://www.mckinsey.com/business-functions/quantumblack/our-insights/global-survey-the-state-of-ai-in-2021.
Enrico Frahn, 0. (2021). Amazon deleted 200 million fake reviews in 2020. Notebookcheck. Retrieved 27 August 2022, from https://www.notebookcheck.net/Amazon-deleted-200-million-fake-reviews-in-2020.552222.0.html.
Kinsella, B. (2019). Loup Ventures Says 75% of U.S. Households Will Have Smart Speakers by 2025, Google to Surpass Amazon in Market Share – Voicebot.ai. Voicebot.ai. Retrieved 27 August 2022, from https://voicebot.ai/2019/06/18/loup-ventures-says-75-of-u-s-households-will-have-smart-speakers-by-2025-google-to-surpass-amazon-in-market-share/.
Chatbot Market Size Worth $3.99 Billion By 2030. Grandviewresearch.com. Retrieved 27 August 2022, from https://www.grandviewresearch.com/press-release/global-chatbot-market.
Global AI Enabled E-Commerce Solutions Market. Insightaceanalytic.com. (2022). Retrieved 27 August 2022, from https://www.insightaceanalytic.com/report/global-ai-enabled-e-commerce-solutions-market/1198.
Chatbot Interactions in Retail to Reach 22 Billion by 2023, as AI Offers Compelling New Engagement S. Juniperresearch.com. (2019). Retrieved 27 August 2022, from https://www.juniperresearch.com/press/chatbot-interactions-retail-reach-22-billion-2023.
Solanki, V. Top 5 Ways Artificial Intelligence Is Transforming eCommerce. eLearning Industry. Retrieved 27 August 2022, from https://elearningindustry.com/top-5-ways-artificial-intelligence-is-transforming-ecommerce#:~:text=According%20to%20one%20report%2C%2080,%2C%20marketing%2C%20and%20customer%20service.
Global AI Enabled E-Commerce Solutions Market. Insightaceanalytic.com. (2022). Retrieved 27 August 2022, from https://www.insightaceanalytic.com/report/global-ai-enabled-e-commerce-solutions-market/1198.
37 B2B Marketing Statistics for 2022 – 99firms. 99firms.com. (2022). Retrieved 27 August 2022, from https://99firms.com/blog/b2b-marketing-statistics/#gref.
Press, G. (2019). AI Stats News: Chatbots Increase Sales By 67% But 87% Of Consumers Prefer Humans. Forbes. Retrieved 27 August 2022, from https://www.forbes.com/sites/gilpress/2019/11/25/ai-stats-news-chatbots-increase-sales-by-67-but-87-of-consumers-prefer-humans/?sh=987000c48a37.
Retrieved 27 August 2022, from https://www.elasticpath.com/blog/customer-driven-b2b-ecommerce-trends#:~:text=51%25%20of%20eCommerce%20players%20have,seamless%20user%20experience%20for%20customers.
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Patryk Miszczak

Launch Profitable Sales Funnels

Every online business needs a repeatable and consistent sales process that converts their visitors into leads, customers, and advocates.

The post Top AI in eCommerce Statistics (Updated for 2024) appeared first on businessolution.org.

7 Best AI Automation Agency Niches

Patryk Miszczak — Sat, 14 Oct 2023 19:56:24 +0000

Today, I’m diving into the best AI automation agency niches you can target. This isn’t just some brainstorming session with random ideas. I’m giving you multiple real-world examples from projects that my agency has actually provided in these niches.

The problem with most people starting an AI automation agency is they aren’t able to get clients or see any results with the ones they’re working with.

They think this is because they’re doing something wrong or because they’re offering a bad service, or they’re struggling to find any clients and they think this is all their fault.

But this is completely false. The actual reason why you aren’t able to find any clients is because you aren’t looking for a good niche. The niche is the foundation of your business.

That’s why today, I’m going to be revealing the best AI automation niches.

1. Marketing Agencies (SMMA)

Nine times out of 10, if we go to someone who’s running an SMMA agency, chances are they know how to build a chatbot, and it’s probably not the best industry for us to go after.

But we do currently work with agencies that are a little bit bigger, not really on trend, and they don’t have a team in place for AI integration and these different chatbots.

Why are agency owners on this list? Well, in order for a potential client to be a qualified prospect, it has to hit on these points:

They have to have the ability to pay – they can’t be broke
They have to have the ability to implement the tools and get good results

Let’s dive into each of these one by one.

First, the ability to pay. In order to integrate your AI automation services, it’s important that the business or person who’s going to be hiring you has the money to pay you.

A cash-flowing agency business making 30K a month in revenue is likely going to have the propensity to buy your service. By the nature of running an agency business, they’ll have excess cash.

Agencies at a high level are very cash-flowing businesses versus something like a tech startup.

Next, the ability to implement the tools and get good results.

Can the business implement the tools you are creating?

Let’s say you reach out to a massive bank like Bank of America, and you want to implement a customer service bot into their company.

That’s a great idea. Do you really think you’re going to be able to close Bank of America and integrate into their systems with all of their different compliance rules and regulations?

Unless you’re Mark Zuckerberg, you’re probably not going to be able to close Bank of America.

Now, what about an agency business? Well, they’re likely a lean team, meaning there are not a ton of people there, and they can move quickly. And agency owners are ready to try things out to improve their business.

For example, I worked with a massive agency that did over 20 million annually, and I had direct access to their CEO when implementing new systems and strategies. Despite it being an eight-nine-figure business, the founder was ready to integrate new things into the business to help it improve.

Can you actually get good results with them?

What tools are you planning to integrate? Does the business really need them? If somebody runs a food truck outside of Austin, Texas, and does all their sales in person, sure, they could integrate to help them operate more effectively.

But is that as good of a fit as an agency owner who has to:

Help manage 30 different clients
Build out marketing strategies
Write 100 blogs a month
400 plus short-form video

And do everything in between? Well, there’s probably a lot more room to integrate things for that agency owner.

And speaking from somebody who’s grown and scaled an agency business before, and we did over 50K a month, in order for agencies to scale, they have to bring on more clients.

And in order for them to serve more clients, they have to increase their output. In order for them to increase their output, they either need to become more effective or work longer hours. Nobody wants to do that.

They can also hire more people, and hiring is hard and expensive. They are always looking for ways to improve efficiency. That’s exactly what AI can do – increase your efficiency so you don’t have to hire more people.

Suddenly, if properly integrated AI, the impact on an agency owner is they increase efficiency, meaning they can sign more clients without hiring more people, which means their margins will increase, which means they’ll make more money.

How Can AAA Help Marketing Agencies?

Now, managing an agency actually has a lot of manual processes. My agency has worked with a few of these clients along with different agency models, such as Google Ads agencies. Here are a few essential automations that you can offer them today.

Onboarding Automation

First, you can automate their onboarding process from collecting client information, updating CRM statuses, sending out Slack notifications, and creating Google Drive folders.

There’s a ton going on here that you can literally completely automate. Here’s an onboarding example.

This not only saves them time, but also ensures a consistent and professional experience for their clients.

Lead Qualification

A lot of agencies have website forms or call booking links, and frankly, a lot of the people who come through there are unqualified leads. This happens in my agency, so I totally get where they’re coming from. We’ve worked with these agencies to automatically filter out unqualified leads.

In this example, our client did not want to work with leads who didn’t have the budget to work with them, so we automatically send over an email saying, Sorry, we don’t work with you, and we only add to the CRM and book calls with leads who actually have the budget.

CRM Management

For the CRM, you can add additional automations such as sending proposals when stages are changed, automatically updating other necessary software when leads are moved to closed one, and automatically sending recordings or notes from sales calls to the lead CRM account.

AI Lead Generation Chatbots

What’s super important for a lot of marketing agencies is being able to offer their clients something more than just a landing page to collect leads. Right now, we work with clients, optimizing landing pages and building sales funnels for them for their marketing campaigns.

Now, on top of that, how do we level ourselves up to become more than just landing page creators?

Well, we actually implement AI chatbots, and we implement AI lead generation tools that actually collect more than just email addresses and names from potential leads.

We can go way deeper than that, and we can almost have a scorecard with 10-15 different questions that we get answered using the chatbot on our specific landing pages. That, in turn, will increase our lifetime value. It will increase our client acquisition cost, all because we have more data being collected.

2. eCommerce

Now, a lot of you are only looking at customer support chatbots. Luckily, e-commerce is a great place to start.

Ecom brands are looking at customer satisfaction scores, stock turnover time, order quantity, order value, all of these different things that ultimately revolve around someone checking out on their store.

This is great because now we can go into a meeting with an e-commerce store owner saying, we are building this chatbot to specifically help drive more conversions on your store.

What are the problems right now?
Where are the bottlenecks with your products?
Are they getting enough information on the product page?
Are people trying to go to an FAQ, and not all of their questions are being answered?
How can we mitigate that?
How can we remove that problem?
How can we make it so that everything is answered on the website?

How Can AAA Help Ecommerce Businesses?

Everything is there when a potential customer needs it, and they can find every bit of information about every product in that store.

The answer is a chatbot, and that is exactly what we can train our chatbot to do. So rather than just uploading the knowledge base, we can use the entire range of products on that e-commerce store and actually train that chatbot to be able to recommend products based on requirements or based on birthdays that are in a certain month of the year.

Or maybe it’s a gift shop, and you have an AI chatbot that essentially asks you what the person likes that you’re trying to buy a present for. Then you can then recommend products based on that input and that data. These are all really good ways for you to build chatbots around e-commerce stores and ultimately help them get to that end customer and that conversion.

And if we’re looking at the other side of e-commerce, LTV is massive, which is lifetime value.

When I was running e-commerce stores, the biggest thing that we would focus on was email marketing and SMS marketing on the back end of those stores. We knew that if we converted a customer, we could actually spend more money than we would make converting that person from an ad into a paying customer because we knew that the LTV after that sale was much, much higher than their first initial order.

3. Real Estate

Now, obviously, property and real estate are very high-ticket items. So, it’s super important to ensure that the customer journey from A to Z is handled professionally and efficiently.

Now, a lot of the time, it’s just one person on the end of the phone taking bookings and booking appointments and viewings, and there is so much room for human error.

How Can AAA Help Real Estate Agents?

So, what can we do here for real estate agents?

This sector can experience substantial benefits from automation, from scanning property databases to managing customer relationships and enhancing online customer service.

Website Chatbots for Real Estate Customer Service

Firstly, creating a website chatbot is great for these businesses. To boost a real estate company’s sales and the boost ability to land a customer, it is almost essential for them to have an AI chatbot that’s GPT-powered and can point customers to the right spot on the website.

Are you looking for multifamily homes? Here’s a link. You can see a whole catalog of them.

Are you looking for single-family homes? Here’s a link. You can find a whole catalog of them.

Oh, you want a single-family home in three restrooms? Here you go.

They can be programmed to answer frequently asked questions, provide property details, and even send leads to the exact property they’re looking for, which can be incredibly powerful.

We even take our chatbots up a notch by using make.com to store the essential information collected from the leads and send this data to their CRM or other necessary softwares.

By integrating these automations, you can help commercial real estate firms transform their operations and focus more on their ultimate goal: closing deals.

Multiple Listing Service (MLS)

Take the Multiple Listing Service, for instance. It’s a vast database of property listings shared among real estate professionals. The task of manually going through this vast sea of information can be incredibly time-consuming. You can make a tool that automatically watches for new MLS listings and adds qualified properties to your clients’ Excel or Google Sheets. The tool can be programmed to filter listings based on client-specific criteria like location, price range, or property size, ensuring the listings that are added are the most relevant for your client.

Streamlining CRM Management for Real Estate Professionals

Then there’s the always necessary CRM management. In a business where coal calling, cold emailing, and networking are all daily activities, this can come in handy big time.

CRM systems can quickly get overwhelming for these companies, and you can come in and clean things up and streamline the entire process. An automation tool that syncs their CRM with their call software, cold email platforms, and other lead generation tools can keep things running smoothly.

Now, when it comes to money, this is a 5 out of 5 industry to get into because these companies are swimming in cash. They’re real estate companies. They’re selling properties worth hundreds of thousands, sometimes even millions of dollars. They’re obviously way more inclined to spend money on a chatbot.

4. Online Education

We all know online education is absolutely massive. There are a crazy amount of people online providing high-quality education to people who want to learn it. This is why online education is such a hot industry to get yourself into.

I’m even deep in it, and I’m a strong believer that this is the future.

So online education, what are the KPIs for online educators? Well, this one’s interesting because obviously they want to convert more people into their course or their mentorship, but they also want people to be able to complete the course. They want people to actually follow through with the mentorship and actually get value out of it.

Most people who buy courses don’t end up even finishing them because they just get sidetracked and move on to something else. This obviously doesn’t reflect well on the creator because they potentially lose someone’s interest whilst they’re being educated by them, which is not good at all.

This could lead to refunds. This could lead to people just moving away completely and just falling out of their sales funnel, if you like. It’s a really massive problem and it’s something that we can help with chatbots.

How Can AAA Help Online Education?

Let’s quickly get into the use cases for online education.

Chatbots Enhancing Learning

Now, I think a lot of you guys think that the word chatbot usually means it’s a chatbot that lives on that website and it acts as a widget where you can type it in, and it pops up a little chat box. Although that is the most common form of chatbot, that isn’t the smartest way to do it.

What if we could have a chatbot that sits behind the scenes that nobody knows is even a chatbot? This is how you can position these bots, too. This separates you from a lot of the other companies that build chatbots because guess what? Chatbots have been around for years. I was using them when I was first dropshipping 7 years ago.

If there was a chatbot, just like I said, that helped answer questions in real-time and acted as a personal coach to this person going through this course, and whenever they needed support, they could message this chatbot and this chatbot would come back because it’s been filled with a knowledge base all about this course.

It knows everything about it. We’ve uploaded YouTube videos to it. We’ve uploaded documents and text files. It is literally an expert on this course that this client is going through. Well, it can now answer all the questions in real-time for this specific client.

That is going to help them progress faster. That’s actually going to help them stick through this course and hopefully finish it.

Automating Email Queries with AI

What I mean by this is, imagine if I emailed you as a customer and said, Hey, I have this problem with my course. What does this mean? Or, how can I get to this?

What if that query then went through a Make.com flow, got bounced into ChatGPT or a bot that we build on the back end with a knowledge base, and then that response was sent back to that customer using an email?

That person wouldn’t have known that it was a chatbot, and that person would have just received a Google notification from the course creator with the response to their question.

Now, that is just one way to look at it, and this translates across every single niche that we’re talking about today, but it is just another way to look at things.

You don’t always have to have it as an actual chatbot. You can build it behind the scenes so it acts as almost like this automated AI administrator, which I much prefer.

Proactive Feedback Gathering

Then, we can also get this chatbot to ask for reviews and get real-time feedback. Maybe every single week, we set it up. This chatbot messages users who are following this course and asks for feedback. That can then be used to create more modules or create more courses, and the list goes on.

Now, obviously, you could just put it on the course page and it can act as a live FAQ, but that’s boring. We want to get a bit more excited than that. Those are the ways that I would be helping online educators

5. Law Firms

Finally, for the third niche, we have law firms. Think about all the paperwork and documents that are filled out during the legal process.

Most of the time, these processes start with an intake call, then a consultation call where the lawyer gathers all the information needed to fill out all of these documents.

Most of the time, the documents and emails they send out are all predefined templates.

How Can AAA Help Law Firms?

You can completely automate this using Make.com to simply fill out certain variables that you’ve already gathered, such as defendant name, plaintiff name, case number, and boom, lengthy 20-plus page documents can be automatically generated, emails with the documents can be sent, folders for the case can be created, and much, much more.

If you can get your automation services in with a big law firm, it’s likely they’ll be coming back to you month after month.

It’s really one of the most administrative heavy industries, which is prime for automation.

6. Gyms

People want their questions answered, and most of the time, gym websites do not have a chat feature. They just don’t exist. I’ve barely seen it. And people want to know:

Hey, what’s the membership cost?

Are there any deals going on? I don’t want to keep going through the entire gym website.

What machines are there?

How Can AAA Help Gyms?

Everything can be entered into a chatbot. You can train your entire chatbot to learn everything about the gym, from the amount of machines, the amount of typing machines, the peak hours, everything.

A gym would benefit greatly from this because now they can land customers more easily, and now they don’t have to have their work actually on call talking to the customers, explaining, “Hey, this is how a gym membership works.”

Money-wise, this is moderately profitable just because gyms aren’t swimming in cash as much as real estate websites or marketing agencies, but they still have a lot of cash for their name. So landing a $2,000, $3,000 AI automation deal with these gyms is not too hard, not too far-fetched.

There’s very low saturation. There’s not a lot of fitness chatbots out there. In fact, I bet if you go to the 10 local gyms near you, maybe only 2 out of 10 will actually have a chatbot that’s pretty good.

And since gyms don’t have much going on, just a bunch of machines and peak hours, and general membership costs, it’s not hard to create a chatbot for this.

In fact, it might only take you an hour and a minute to create one, so the difficulty of creating a chatbot or any AI automation solution is relatively easy.

7. Car Dealership

Everyone, when they go to a dealership, they need information on cars and they just don’t know anything about them. This is an opportunity for you.

How Can AAA Help Car Dealerships?

That’s for these information, they can go on the dealership’s website, search for whatever they want in the chat feature say, “Hey, I need a car that has 400 RPM that goes 150 mph”, and it’ll give you a list of cars that actually have that.

Or “I want a car that can get on a $5,000 down payment.” It’ll give you a list of cars that offer that.

There’s a constant influx of customers, and car dealerships are people who need to limit the amount of sales reps they have because that’s one of their main costs.

And it’s amazing if you can just have a sales rep close the deal. So, everything else is handled by the chatbot, and the final step is a sales rep. So that will help car dealerships free up resources and time and need fewer sales reps.

So stuff like this is why a chatbot for a car dealership can be extremely beneficial. And there are a bunch of other AI automation solutions that you can create when it comes to car dealerships.

Money is also big because they’re selling cars that are worth thousands and tens of thousands of dollars.

When it comes to saturation, there are a good amount of car dealerships with chatbots already, and more and more GPT-powered chatbots are appearing in these car dealerships, so it’s getting a little bit saturated.

And in terms of difficulty creating a chatbot for a car website might be a little bit of hard just because of how many cars there are, the different features of cars, soaring through that data. But overall, most chatbots are easy to make.

Final Words

There we had it. Best AI automation agency niches that you can target today. Each of these sectors offers unique opportunities and unique challenges for AI automation agencies.

Don’t just think about these projects for these niches, and don’t just think about these niches to offer systems automation.

At my agency, we’ve worked with more niches than this, and now we have finally found our stride with what we call our primary niche, coaching, and consulting businesses.

We’ve also begun to productize our service so that things stay consistent, and we aren’t always reinventing the wheel and coming up with bespoke automations for every single client.

If you have experience in an industry, you already know where a lot of time is spent on manual processes. Figure out how to automate it and go make that your next offer.

Hopefully, this guide has given you a blueprint and a bit of a structure in terms of how we look at things. Obviously, there are hundreds of more industries where this could work, so make sure you choose a couple and hit them hard. Become an expert and you will win.

The post 7 Best AI Automation Agency Niches appeared first on businessolution.org.

13 AI Automation Agency Services You Can Sell in Your AAA

Patryk Miszczak — Sat, 14 Oct 2023 19:17:53 +0000

If you’re reading this, chances are you want to start an AI automation agency, or maybe you’re already running one.

I’m sure by now you’ve realized that AI automation is not as easy as everyone makes it out to be.

Maybe you don’t have much business experience or you just don’t know what to build.

And that’s why today I’m going to be taking you guys through the best AI automation services that you can offer.

So, without further ado, let’s hop into it.

1. AI Custom Chatbots

This is probably the most popular one right now because of this whole AI automation agency trend, AI that’s going around on the Internet, the AI buzzword. But AI bots are extremely easy to make, the chatbots at least, because no code is required.

In fact, a simple tutorial is enough to take you from knowing nothing about no-code AI automation tools to create your very first AI automation chatbot that’s literally being sold to clients.

Chatbots are everywhere. It’s extremely easy to create. I promise you, it will take 20 minutes to watch a good tutorial, and you will be able to use the 3 main tools used for AI chatbot development within no time. I’m talking about:

It’s a very repetitive process creating these AI chatbots. So once you create 1 or 2, creating 3, 4, 5, and 6, you’re only going to be better and faster and can make a lot of money from it because clients are paying like 3k one time with $500/month retainers for these types of projects.

2. Customer Service Chatbot

This one is similar to the previous service but tailored specifically for customer service.

The reason you hear about it all the time is because people take it to the basic FAQ-type bot and don’t bring it on past there. But it really has a lot of potential beyond that.

But the cool thing is it’s pretty much applicable to any industry anywhere:

Agencies
Coaches
Consultants
Real estate
E-commerce
Airbnb hosts

This is especially useful in industries like e-commerce, where the bot can help with things like order tracking, charger backs, customer retention, etc.

What it has an application, it lacks individuality, which is why it’s usually not a very powerful solution. What I mean is that it’s more generalized. Because it can be applied to everybody, it doesn’t really have the chance to hone in on one specific niche, which takes away from it.

It’s the same reason you can’t use ChatGPT for generating actual good content, and instead, you have to use a custom-trained model.

However, that doesn’t mean that the benefits aren’t there. You save companies time, money, and headaches by implementing something like this. There is no outsourcing to VAs and no fires that they have to put out.

You can reduce the cost as well of having to outsource to entire customer support teams.

3. Automated Onboarding Sequence

This is essentially an easy way to automate the onboarding process and ensure that you and your client get all of the information that they need promptly.

It’s also something that can be built out really easily and really quickly using Zapier or Make.com, depending on the tools that you’re using.

And now, in terms of the industries, the spectrum is broad. But straight off the top of my head, it’s useful for

Agencies
Coaches
Consultants
Firms

And software companies that need to onboard their users.

And it doesn’t just have to be for client or customer onboarding. It could also be used for onboarding new hires, sending them a welcome packet, and getting them onboarded into your software.

4. Appointment Booking Bots

Appointment setter bots are bots that are becoming more and more popular because a lot of people are doing mass outreach, starting their own SMMAs, or on their own AI automation agencies or bot automation agencies.

They need bots that are able to continue conversations with incoming DMs and ultimately set appointments for these people.

You can easily create something like this with GoHighLevel.

The way it works is, let’s say you’re an influencer or you’re a coach who’s running a big ad campaign. So you fire ads on Facebook, Instagram, or LinkedIn, and in the ad, you’re like, “DM me mentorship if you want to get a free consultation.”

And then you get thousands of DMs. You obviously can’t go through every single one, answer every single person, and continue a full conversation with them, which is why you create an appointment setter bot.

So now, when a person DMs you, the appointment setter bot has GPT training. So it uses a GPT 3.5 or even GPT 4 model to answer whatever questions the incoming person has, and eventually, your bot will send out a Calendly or Google link.

So the client or the incoming lead can click that link and ultimately book a hence setting an appointment.

5. Inbound Lead Qualification & Acquisition Bot

Now I know that was a mouthful. But just hear me out here because this is something that could benefit every industry, basically.

Now, this is actually something that I built for a previous client of mine. The whole goal of this bot/automation is to collect information from a lead and qualify them before allowing them to move to the next step.

This is mainly applicable in higher ticket AI automation agency niches like:

Luxury goods
Agencies
Coaches and consultants
Hospitality
Real estate

This pretty much eliminates the need for a human on the other end to set the appointment and make sure that leads don’t slip through the cracks.

And here’s why this is really good. Agencies that have a lot of inbound leads and are selling a high ticket product most likely have more than enough money to pay you very well for this service.

For them, it means they don’t have to deal with a setter or train a VA to work for them. Instead, they could have that process completely automated for them.

The important thing to make this work is to collect the data that you need from your client. And I’m talking sales data like scripts, previous conversations that they had with clients, all of the software that they’re using, like what CRM or what are they using to intake leads, FAQs, company policies, and add those to a vector database, and you can basically train your bot from there.

6. Retail Bot

Retail bots are the hardest bots to make. Personally, any newcomer in the industry, I recommend building retail bots. The thing is, it’s extremely hard to make because the security for these sites is top-notch.

There’s a lot of security, and you don’t want to be that person who’s constantly coding every single day, having to update their code every single day. It’s just a lot of work and it’s a big headache.

But this is where the market is the largest because everyone wants sneakers, everyone wants the latest gaming console. So if you want to make the most money possible, then yes, this is the industry. This is a bot service you should be in. But just know that is a big headache.

Personally, I don’t create these bots anymore.

7. Content Automation

Now, I want you guys to hear me out here because it’s not technically one thing, but there is so much potential in here. I guarantee you can find something that works.

There are a lot of things you can do both on the larger scale enterprise, like SaaS, and then things you can do on the smaller scale, like just customer to client type thing, B2C, business to customer.

There are AI content creation tools like:

AdCreative.ai for creating ad creatives
Repurpose.io for content repurposing
Castmagic for turning audio into different formats of content
Ocoya for social media content

You can even use ChatGPT and Zapier to automate blog posts.

And the good thing is just like our customer service chatbot, it’s pretty much applicable to any industry. All businesses, or at least all smart businesses, are using content these days. But the problem with that is it’s a huge time sink.

8. Scheduling Bots

Scheduling bots are my personal favorite because I have been creating them left and right recently. You see, websites like celayix.com urgently require shift-based workers or even towing truck drivers to book a shift or a towing job the moment it appears.

This is what you call the first come, first serve model. So it’s just how it’s said. Whoever accepts the job first will get the job. As a result, get the money, and their business will grow. But what happens to the people who don’t accept the job first? They’re screwed.

That is where a bot can solve their problem, because a bot can always click a button, enter information into a text box faster than a human ever could. This is why sites that have shift-based workers or have a system where you have to accept a job manually are extremely popular in the bot industry.

The best part is they have very little security. With creating bots, you have to make sure the browser doesn’t detect you. But with these websites, the security is little to none. So, as long as you know simple bot development and minimal code, you can create a very lucrative bot.

9. AI Trading Bots

AI trading bots sound insane. I know it sounds absolutely crazy, but these bots are basically bots that are trained on stock, performance, and historical data, as well as common indicators to make a clear-cut prediction on what the stock will be doing next, going up or going down.

Obviously, if you make the algorithm right, you’re going to crush Wall Street bets.

With the recent advancements of AI, everyone was shying away from training because they think they goes against supercomputer algorithms. But the thing is, with AI now, you can start replicating these algorithms for yourself on your personal Mac or your Windows.

Now, what seemed impossible is now very, very possible. You can create a very good AI trading bot that is able to predict at least seven out of 10 times correctly if a stock is to go up or down.

This is something that you can sell to a lot of clients, or you can use it for your personal gain and have it traded for your own account.

10. Inventory Monitor Bots

This does fall more in the retail space but is much simpler because you’re not actually adding the product to the cart. You’re more scanning whether an item is in stock. Once you figure out if it’s in stock, you just send an alert to whoever is using your bot that says, Hey, this item is in stock. Here’s the add-to-cart link. Let’s get on your own browser and check the product out regularly.

Discords love this type of stuff. So if you ever create something like this, I guarantee if you go to any cook group or a sneaker bot discord, a retail bot discord, you can most likely sell your bot to them if it’s even remotely good for a good amount of money every single month.

11. Instagram DM Bots

Instagram DM bots are really easy to make, and the first thing you want to do is simply go to axiom.ai. This is a great service that literally teaches you how to create an Instagram mass DM bot.

You use that site, follow the tutorial, and by the end of 10 minutes, you can literally have a bot that mass DMs a list of Instagram profiles that you give it, whatever message you want.

This is amazing for mass outreach, and you can sell this bot to marketers or people who want to reach a large audience but don’t have the time to manually DM people one by one by one. I’ve sold a bot similar to this for 500 bucks, and it literally took me 10 minutes to create. I kid you not that Axiom AI makes it super simple.

12. Discord Moderator Bot

Last but not least, a Discord moderator bot. You see, a lot of role management comes into play on Discord. There’s a lot of incoming messages. You want to make sure that no one’s sending some weird messages.

If they are, you block them. And sometimes your moderators are busy, right? Because these are real humans with real lives, they can’t just keep monitoring the Discord.

So instead, if you have a Discord moderator bot that can actually scan these messages and make sure nothing dumb is being sent, if it is, they can block the person and kick them out.

Not only do you save the money and time needed to find moderators and actually hire them, but you have something that is always scanning Discord every single second.

So now, no one will see a weird message because it’ll be blocked instantly, and the person will be kicked out.

If you have a Discord of younger kids and you have some weird messages, then that can get you some serious trouble. I highly recommend a bot like this.

13. Customized Plan Generator

Now, this one is pretty straightforward and it’s applicable to tons of different industries. This is essentially an AI model that generates a customized and personal plan based on the user’s inputs. Let me explain.

First, let’s cover industries. There are a wide number of industries that you can cover with this, but these are my five favorites.

Fitness

You can generate workout plans based on the user’s inputs like their height, weight, gender, as well as the client goals, like where they want to be in their bench press or their squats, and their current metrics.

So if they want to squat 300 pounds and they’re squatting 225 pounds, you can build them a plan based on that.

Nutrition

Second is nutrition, custom tailored diet plans. Now this goes hand in hand with fitness, but I’m thinking more of dietitians and nutritionists here. It can be solely based on the patient’s weight goals, and health and fitness goals, and it can be catered to any issues they have, like if they have diabetes or they have specific dietary restrictions, maybe they’re vegan.

Personal Finance

You can generate a financial plan for someone based on their spending, their credit score, all kinds of things. This is especially helpful for those who aren’t the best with personal finance and just need a little bit of help getting out of a rut.

Travel

Offering personalized itineraries based on what the user wants to do. If they’re more of a party person or a chill-at-home type of person, you can use AI automation to generate those for them. And you can offer the service to travel agencies.

Education

You can create a customized education plan based on a student’s current level and then their needs as well. This is especially useful for coaching programs. And the cool thing is these are just off the top of my head. There are truly no limits what you can do. Now, this is especially important because it’s a massive time saver.

When you take out all of the technicalities, you’re able to better serve your client and get more clients as a result of that. This is really the selling point here with the additional fact that with enough training and data for the AI model, the results will be incredibly accurate, and the plans will be very effective.

It takes out a lot of the thought work, increases the effectiveness of the plan, and saves hours upon hours of time, allowing these coaches, consultants, et cetera, to scale.

What do you need to build something like this?

For this service, all you need is examples from your client’s plans that have worked really well. It could be anything from previous plans from customers to what’s worked the best to FAQs, etc. You can then add these to a Stack AI vector database and train the AI model based on that.

Final Words

So, these are my top picks for the best AI automation agency service you can sell.

You’re definitely going to save people a lot of time, money, and headaches. And ultimately, you’re going to increase their output, which has the secondary effect of increasing their sales.

These are all just a few ideas and great places to start if you’re a beginner.

We’re still very early in the AAA space. But remember, opportunity waits for no one. Every day, more and more people are catching on to this amazing business model and recognizing the power of automation, and the race is on.

With that said, if you take action now, you can capitalize on this once-in-a-lifetime opportunity. Trust me, this is significantly bigger and considerably more valuable than social media marketing agencies.

The post 13 AI Automation Agency Services You Can Sell in Your AAA appeared first on businessolution.org.

How To Start an AI Automation Agency (AAA) The Ultimate Guide

Patryk Miszczak — Sat, 14 Oct 2023 16:50:22 +0000

I feel like everybody is talking about how to start an AI automation agency. We’ve all heard it. We’ve all seen it. AI is here to revolutionize business. But the big question is, how can you capitalize upon this emerging market?

But I don’t barely see people who actually show how to implement AI-powered systems that really help you to optimize your workflows.

Today, I’ll show you how you can create your own AI automation agency. I’ll cover why you should even start one in the first place, then also what services you can provide to your clients, and lastly, how to niche and create this grand stem offer nobody can say no to.

What is AI Automation Agency (AAA)?

AAA stands for AI Automation Agency. It refers to a business that specializes in using AI technology to automate and optimize processes for clients. These agencies develop chatbots, implement AI-driven automations, and provide tailored solutions to streamline operations and enhance customer experiences. Essentially, it’s really finding ways you can implement AI in certain business workflows.

AI Automation Agency Services

Let’s talk about service delivery and what services you can actually provide to your clients.

1. Custom AI Chatbots

I would say we start with the most obvious one, which is AI chatbots. You can build them very easily without knowing how to code using platforms like:

I’ll just give you a short guide to Stack AI. With this tool, you can build ChatGPT chatbots very easily and fast using its visual builder.

So you can understand it in that way that Stack AI is just like Wix for websites. It enables you to build chatbots without knowing how to code, just using visual workflows.

The cool thing about Stack AI is that besides chatbots, you can also build internal tools powered by AI, which is another great AAA service to offer.

2. AI Automation

The second service you can deliver to your clients is AI systems or automation systems in general. For this, you can use the platforms like:

Essentially, what they do is they connect your clients’ apps to OpenAI.

So that you have a better understanding of what I’m talking about, in Make.com, for example, you can connect thousands of apps with each other, including OpenAI, which makes this tool so powerful in that sense that you can automate, for example, your Gmail account using OpenAI.

You can connect these tools with each other to communicate internally so that many repetitive tasks can be obsolete.

3. AI Marketing Automation Services

Chatbots, automated messaging, and AI-enabled workflows are the next big opportunity for digital agencies. And all of this you can do with GoHighlevel.

Like I said earlier, you can use GoHighLevel not only in your business but also to deliver AI marketing service for your clients.

For example, you can develop custom AI and automation from scratch, like AI lead generation chatbots, automated booking appointments, text messaging, automated social media, and more for clients.

You can also create chatbots for clients without coding. They have a visually drag-and-drop bot builder that makes it simple to map out conversations.

They also have automated workflows that incorporate AI actions like generating text responses. Workflows automate messaging and other tasks.

Some of the automations you can roll out with GoHighLevel are:

24/7 Chatbot Concierge – Deploy a conversational bot on the client’s website, Facebook page, and SMS. The bot greets visitors, answers questions, books appointments or takes orders automatically.
Missed Call Text Back Automation – Automatically text clients who miss a phone call. The bot can send info, book appointments, and take payments.
Appointment Reminder Bot – An SMS, Facebook Messenger, or WhatsApp bot that reminds clients of upcoming appointments. Helps reduce no-shows.
Automated Review Requests – A workflow that texts customers asking for online reviews after appointments. Or automatically posts positive reviews to social media.
New Lead Engagement Bot – When a new lead comes in, a bot immediately engages via text to qualify the lead and book a call. Accelerates conversions.

But the best part is their white-label program. Basically, as an agency, you can brand and resell GoHighLevel as your own automation service. You can charge ongoing fees for automation services powered by GoHighLevel. This creates predictable, recurring revenue.

GoHighlevel is the best solution if you already run an SMMA and want to integrate AI into your agency to differentiate yourself from your competition.

Pro Tip

If you’re not using this platform and want to give it a try, since we use it in our agency, GoHighlevel offers our audience a 30 day extended trial.

4. Custom AI Apps

The third service you can provide to your clients is actually building out custom AI apps using AI no-code tools like:

To be honest, this service delivery can be quite difficult, and it definitely requires technical knowledge.

In some cases, some coding experience is required to deliver high-quality work at the end of the day and to please your clients. But you can actually build AI tools within a week using Bubble. You can start with this on your own and get the expertise. If you really like it, you can start to build out a team that can develop it for your clients in a high quality.

5. AI Consulting

The last AAA service is AI consultation and workshops. In order to make this work, you will actually require some personal brand, which you can build on LinkedIn or YouTube.

I really recommend taking some time out to create content that is meaningful for your target audience. For example, you could target businesses and you create content around how AI can be incorporated into businesses to make them grow.

So now that you have an understanding of AI automation agency services you can provide to your clients, it’s very important now to start to niche down because I know a lot of people think it makes more sense to target everybody and to be a generalist, but if you try to serve everybody, you will serve no one in the end.

So, to be successful, you need to find a niche in the industry and try to solve their biggest pain points. Once you have a system, you can replicate this multiple times and multiple times, and this will allow you to scale on a big basis.

Choosing AI Automation Agency Niche & Best Niches

Now, I’ll give you 3 actionable tips on how to choose your niche, and then I’ll go over some of the best AI automation agency niches.

1. Consider the Market You Already Know

There are a few benefits of serving a niche you’ve already worked in. For example, if you’ve worked in real estate, it’s a great way to break into the industry because you already know the processes and the pain points they face. So you can automate things much easier and or maybe you already have a network.

2. Target Emerging Markets

The second thing you should consider is that it’s an emerging market because it’s always risky to enter a market which is declining and will probably die in the future. So, you want to target an emerging market where the capital is flowing into the market.

3. Consider Optimization Potential with AI

Another thing that you should consider is that you should check out the market or choose a market that can be highly optimized by AI. Usually, these markets are online businesses because they have a lot of processes using software, which you can, at the end, also integrate with Zapier or you can use chatbots they can use to speed up their workflows. In comparison, for example, to a brick-layering company, which is a very physical business.

Best AI Automation Agency Niches

Now, I’m going to walk through a couple of specific examples of AI automation agency niches.

1. eCommerce

If you decide to work with e-commerce businesses, you can go beyond just automating their customer service with chatbots. You can also help with predictive analytics. They can use AI to track customer data, pick up on trends, and track behavior to predict what products customers might be interested in purchasing in the future.

Inventory management can also be improved by both AI and automation, for example when a product is getting low or out of stock, you can have AI recognize that and an automation automatically reorder more of it.

2. Lawyers

AI can help in legal research as well by processing and analyzing tons of pages of documents, case law, and litigation files, which makes it way easier for lawyers to find critical information. For litigation, an AI could assist in real time transcriptions of court proceedings and answer relevant questions in a chatbot interface.

AI and automation can also help in a ton of different ways like email scheduling, billing, invoicing, and setting meetings.

3. Real Estate Agents

For real estate, AI can analyze data from a variety of different sources and match their clients with their dream homes. An AI-enhanced CRM system can also help automate follow-ups and customer inquiries.

AI automations can provide real-time property information as well as schedule showings with clients.

4. Personal Brands

AI can also help automate content creation and distribution for all of the content creators and influencers out there. For example, AI automations can create relevant, customized blog posts and social media posts on any topic you’d like. Then, a custom-trained GPT model can help you ensure that the content you’re creating matches the voice of the brand you’re working with.

5. Service Based Businesses

For businesses like electricians, plumbers, and landscapers, AI can help them in a ton of ways. They can completely automate their customer service, their appointment scheduling, job tracking, and a lot more.

For example, you can create A custom quote calculator that gives prospective customers a quote, which would reduce the time spent on manual estimation. An automated CRM system would also help manage customer relationships effectively.

And these are just a few examples. The possibilities of niches here are truly endless, and almost every business in the world can benefit from these services.

It’s all about finding your niche where you can provide valuable, relevant AI services for your clients.

Technical Setup: Essential Tools for Your AI Automation Agency

Let’s begin with the technical aspects. Here are some of the tools you need to get in order to run your AI automation business.

1. Professional Website

First, you’ll need either a website or a funnel. If you’re seeking a free option, I recommend Systeme.io. They provide a decent free plan where you can link your own custom domain, build up to 3 funnels, manage contacts of up to 2,000 people, and send email campaigns—all without any cost. Not bad.

However, if want a one-stop shop for all of your sales and marketing needs, then consider opting for GoHighLevel,

GoHighLevel is basically a CRM platform specifically tailored for agencies that you can use not only to manage your business but also to provide AI marketing services to your clients, as I’ll show you later.

GoHighLevel website builder is easy to use, and they have tons of templates for literally every industry, including agencies.

Either of these options will work. You can really get started within a day. But really, I think it’s mandatory to have a website because it shows professionalism at the end of the day.

2. Business Email

The next thing you need to do is get a professional email because you’ll need it later for cold outreach. I don’t want to see people sending emails with @gmail.com. That is not professional. That looks spammy.

I receive emails from other companies from accounts @gmails.com. How can I think that is a good company if they don’t want to spend $10 to $15 a month for an email address?

Get a domain and connect an email to that domain. To do that, you can get something that is called G Suite, and with that you have everything: docs, storage, and other business tools.

3. OpenAI Account

This is only a requirement if you want to sell AI automation with Zapier or Make.com.

And for this, you need to get the OpenAI pro version because you need to connect OpenAI to these tools. All you need is your API keys and your organization number. The pro version is $20 a month.

These are the technological aspects of the business.

4. Business Phone Number

If you want to do cold calling, you need, of course, a phone number. I’m sure you have one. But if you want to use your personal, you can do that. But for this is much better to use a business phone number and I recommend you to do it.

I don’t know which country you live in, but depending on the country, that could be from 20 to $100 a month. For example, here in the UK, it’s super expensive. I pay around £70 a month for just a super simple plan. But that is something I need if I want to have a phone number for customers if they need to call me, if I need to call calls as well, that is something that I need to have.

Finding AI Automation Agency Clients: Automated Method

So now that you have your niche and your service figured out, it’s time to find leads, which you can do on platforms like Apollo or Leadfuze.

Now I’m here in Apollo, and I’ll just show you very quickly what this search could look like.

Let’s say we are searching for marketing agencies, and then we can filter companies in the size of, for example, 10 to 20 people.

Then let’s say we just want to target agencies in the United States, and we want to narrow it down to, for example, just marketing and advertising agencies.

And as you can see, we have over 300k leads.

It’s also important to narrow this search even more down because we really can’t target all of them.

Let’s say we want to also just target the CEOs, founders, co-founders, etc. Now, I’ve got a total list of 4.4K, which is a lot of leads you can reach out to.

And then, you can just save this lead list and, at the end, export this.

It’s important to know that you need to export this as a CSV because you’ll need it for an email outreach.

And for your

Quick side note: if you don’t want to pay anything for software, for example, because I know Apollo can be quite expensive, you can also go with freelancers on Fiverr who make the lead generation for you for a few bucks.

Cold Outreach: AI-Powered Strategies for Lead Generation

So now we’re finally at the part where we can do outreach. This can be quite painful. I know outreach takes a lot of time, but luckily, we have AI, which can help us automate a lot of processes.

So, in this part, I’ll show you how you can scale and automate your outreach systems using AI.

But before we get into the outreach part, you will have to do a few things before we get started.

First, you get a business email with your domain because it’s very unprofessional if you just use a Gmail account.

Another thing that I highly recommend is having a professional website. Like I said at the beginning, I recommend going with either Systeme.io if you just getting started or GoHighLevel if you want a complete sales and marketing automation solution.

Now, let’s go over the first cold outreach method.

1. Email Outreach

Let’s start with the automated email outreach. The first thing you should do is actually add the ChatGPT add-ons for Google Sheets. For this, you will need to go to Google Sheets and just type in “ChatGPT for Sheets and Docs,” and then you can find this add-on and just install it.

We’re now in Google Sheets, where we’ve installed the ChatGPT add-on.

Here, we can see some basic lead lists that you can get either from Apollo or a freelancer, for example.

Now you can just prompt ChatGPT using equals GPT, and then you can tell ChatGPT which field it should take, meaning E2.

And then we tell it: “Visit this website and write me a personalized first liner for my email code outreach where you compliment something you saw on their website.”

In the next step, you just drag down this point for all the leads, and it will automatically generate a personalized outreach or a personalized first-liner for all the leads you’ve imported.

This really solves the problem of making outreach personalized because everybody knows these marketing emails, which are high first name and then their offer, and you will never respond to them because they’re just some spammy email.

But when you are able to personalize them to the business and maybe give them a compliment, they are more likely to actually read your offer, and, in that sense, also more likely to respond and maybe hop on a call with you.

In the last step, you actually download this file as a CSV again, and you can import this to your favorite email automation software and start your outreach.

Here you have a few options like:

I personally use Instantly.ai because it’s super easy to use compared to other email outreach tools.

All you do is import the lead list that you generated in the previous step.

And then there is the copy you can put in with the variable, which you’ve imported from the lead list, like for the first name.

Then you can put in the variable first liner, which we generated earlier. When your offer comes into play with the risk reversal and then maybe a Calendly link, this could somehow be the structure of your email outreach.

This first liner will be filled out with the thing which we’ve generated in the Google Sheets and that’s really the power of this software because when you’ve saved this campaign, you can really schedule it and tell it that it just sends out these emails over the weekday automatically without you doing anything.

So, this is an overview of how to set up an email cold outreach campaign.

Now, let’s move on to the next lead generation method, LinkedIn outreach.

2. Linkedin Outreach

Another great way you can reach out to business owners is through LinkedIn. This is really the place and the social network for professionals. And because of this, it’s probably the best place to do B2B sales and outreach in general.

For those who don’t know what LinkedIn automation tools do, they essentially send out connection requests. Once they accept it, you can send them a message automatically within a few hours, and you can really customize all these variables.

There are many out there, a lot of good ones, but also a few bad ones. Here are two which I found quite good, which is first of all, DuxSoup and the other one MeetAlfred.

And I just give you a short introduction to DuxSoup because it’s easier to use. And the great thing about DuxSoup is that it’s quite affordable in comparison to other LinkedIn automation tools. You can get started for free. But later on, if you really want to scale it, I recommend TurboDocs because of the features you will have.

In the DuxSoup dashboard, you can see one of the campaigns where you just send out a connection request. You can also put in a message, but I feel like this is quite pushy and too salesy.

So just wait for them to accept your connection request and then write them a message after maybe five hours.

And if they don’t respond, you can also send follow-ups, which is a great thing.

So now we’re here in the Funnel Flow, where you can see how these campaigns have performed in the past.

And Dux-Soup is a very powerful tool, which you can also integrate into your CRM to automate many of your outreach processes and essentially get your clients on autopilot.

3. Instagram Outreach

Another way you can reach out to business owners is through Instagram. Of course, there aren’t as many people on Instagram in comparison to LinkedIn, where you can sell your service, but you can definitely target a huge market there, too.

The only thing that I really recommend is to hyper-personalize your message.

For this, I recommend BHuman. They let you send out video outreach, but personalized using AI, meaning you only will need to record one video where you put in your script, and then you connect your data just the way you did it with the platform instantly.

So, in the data, there will be the first name, and then they will clone your voice and put in the first name, but personalized for every recipient, and they will automatically send it out.

So you can now personalize your video outreach without doing it hundreds of times, but just doing it once and the AI will generate the personalization for you.

Pro Tip: Clean Social Media Profiles

Something that many people don’t really consider is having a clean social media profile. Business owners who want to work with you will google you, and they will maybe find your Instagram or LinkedIn account, which could maybe look shady, and because of this, they wouldn’t want to work with you. I really recommend having a very clean LinkedIn profile because this is where most B2B sales are done.

So go ahead and optimize your LinkedIn profile because later on, we will also cover how you can do automated LinkedIn outreach

And the great thing is you can really send it out on LinkedIn or directly via email, and you can also connect this platform to Zapier.

Appointment Setting

Ideally, daily, you want to go through the responses from prospects multiple times a day – morning, evening, and night – is even better to ensure you respond to DMs. You aim to get these people on calls. If they’re not already on calls, you need to follow up with them. For instance, after your initial outreach message, send them a follow-up every two days.

When they respond, have a process or script ready, and ask them about their current situation to qualify them as a prospect. If you’re charging $3,000 a month for your service, someone making only $2,000 a month isn’t going to be a qualified lead for you.

That’s why we create appointment-setting scripts. In them, we delve into detail, qualify the prospect, and, if they’re a fit, try to schedule a call.

Perhaps offer them some free value in the form of a guide. Once you actually get them on a call, you can learn more about their business.

Automated Booking Setting

Now, I’ll show you how to generate leads from your website. This is also a service you can provide to your clients because it involves an automated booking setting.

Basically, inside the website, we will have a chatbot to collect information from the visitors of the website because we need something that chats with people who visit our website. Basically a lead generation chatbot.

The bot does two different things. The first one sets up appointments with customers, and the other one gives the customers information and generate information about AI and about our services.

You can create an automation like this with GoHighLevel and its new conversation AI chatbot.

If a customer visits my website, gets an appointment, chats with the bot, or starts interacting with the bot, the bot will ask for information from the user.

So you can send this data directly to ChatGPT and tell ChatGPT to write you a personalized email and essentially book an appointment or get them on a call.

Sales Call: Effective Sales Strategies for Your AI Automation Agency

Sales are incredibly crucial for literally any business. You’re not getting around doing sales calls, and you’re not going to hire someone straight out of the gate to do your sales calls for you. You’re going to have to do them yourself, which is just something you’ll have to get used to.

Now, for sales at our agency, we generally do what’s called a two-call close. This means the first call is just an initial consultation call in which we gather more information about their business. We ask them some questions and qualify them as a prospect. We ensure that:

They’re someone we want to work with — and you can usually gauge this from the vibes during the call.
They’re genuinely qualified to pay us for our service and are the clients we can deliver results for.

While we’re still on that call, before we end it, we’re going to book them for a follow-up call. We’ll send them a calendar invite while we’re still talking and say, “Alright, cool, let’s get you booked in for a follow-up call.” Just a few days later, we’ll prepare any necessary materials and reconvene. During this follow-up call, we’ll review everything we’ve discussed, present potential solutions, answer any questions or address objections, and if they’re satisfied, we can move forward.

A video on sales is also coming soon. I have many successful sales calls that I’m eager to share with you all. I just need to ensure I have the appropriate permissions to show them.

Now, before we discuss landing the client and proceeding from there, it’s essential to address a critical topic, which is automation and AI delivery.

Now, I’ll give you 7 tips on how to close your first AI automation agency client.

1. Sell the Call, Not the Service

I first want to mention that in the outreach, I really recommend trying to sell the call and not to service because it’s much easier to explain the benefits of just hopping on a 30-minute consultation call, which is free. They have no risk involved instead of trying to sell this huge package of service, and the barrier to entry is much higher. So try to keep the risk as low as possible for your prospect because then they’re more likely to convert.

2. Ask Questions

Then, be prepared for the call; make it about them. So ask questions and prepare these questions because you want to get the information out of them, and you want to know how you can help them actually.

3. Identify the Biggest Pain Points

And for this, you want to identify the biggest pain point in the business. And you can expand upon this point and emphasize that this pain point costs them actually money and then you will provide your solution.

4. Show a Demo

The best case, if you already have some resources prepared, you can actually show them a demo of how this product or automation could work for them and how that really can increase their revenue, save them time, or just show them how this product or service could help them. Then, explain your pricing model. And if you set the price, go at the beginning a bit higher because I’m sure they will negotiate for it.

5. Offer Free Work

One of the easiest ways to secure your first client is by offering free work. I understand the desire to earn immediately, especially if you’re starting a business.

However, sometimes you need to give before you can receive. Offering free work is beneficial because it allows you to gain testimonials, experience in the industry, and valuable insights.

Really try to provide value upfront, and later on, they will want to pay you, and if not, you will just ditch them and you find new clients because you already have experience in the testimonial.

6. Leverage You Network

Another recommendation is to leverage your network if you have one. If not, it’s crucial to start building one now. You can do this online through platforms like LinkedIn, YouTube, and other social media channels.

Alternatively, attending in-person events can also be a great way to foster relationships.

7. Personal Brand

I really have to say a personal brand is one of the most lucrative things to build because it will give you leads automatically without you doing anything once you have built some audience and put some content out there which gets pushed up by the algorithm constantly.

To summarize, in the online business realm, it’s relatively straightforward. You can either have a personal brand, which is ideal as clients find and approach you. Building a personal brand on platforms like YouTube, LinkedIn, or TikTok can be time-consuming but is immensely rewarding.

The alternative is outreach. It’s crucial to ensure that your outreach efforts are high-volume. Fortunately, there are numerous AI systems available that can assist with automated and semi-customized outreach to potential leads.

Client Onboarding: Automation, Communication, and Execution

There are 3 things that you need to do for your client in order to fulfill and operate properly.

1. Establish Communication

First and foremost, you need to establish communication. Where will you be communicating with them? Is it Slack, WhatsApp, Discord? And how often will you be communicating with them? Are you giving them daily updates, one weekly call? What is the communication cadence?

2. Gather Information

Second is gathering information. This is where an onboarding form comes in. What information will you need from them to actually deliver on your service? API keys, Zapier logins, that kind of thing.

3. Get Onboarding Call

And finally, is getting an onboarding call going. Get a kickoff call going, go over the timeline of what you’re actually going to do for them, show them how long it’s going to take, answer any questions that they may have, and gather additional information. Onboarding calls are a great way to just kind of lay the groundwork and hit the ground running.

4. Automate Your Client Onboarding

The next step is once they sign the contract, you can actually automate your client onboarding. Of course, in the beginning, this won’t be too important because you won’t have many clients signing up.

This will be beneficial in the future. But it’s important that you build out the systems from the beginning on. And this is also a service you can provide to your clients because it also involves automation.

Once they’ve signed the contract, which you can send on PandaDoc if you don’t know it, it’s just a way to easily get an e-signature.

And here is a Make.com client onboarding workflow.

So essentially, once the client has signed the contract on PandaDoc, it will automatically create a drive folder in Google Drive.

I assume you use Google Drive to have all the resources for your clients and communicate with them via Slack.

But of course, these variables can all be changed up to your specific software. But it’s important that you just understand the concept.

So the Google Drive will be created, then a new Slack channel will be created, and you invite the user to the Slack channel, and you send them essentially an invite email to this Google Drive and Slack channel to onboard them fully.

Service Delivery: Custom Chatbots and Automation

Congrats on signing your first client. Now it’s actually time to deliver the service. And for this, you have a lot of different solutions. But the most common ones in AAAs are custom ChatGPT chatbots with Botpress or Stammer and automation with Zapier or Make.

And these are all great no-code or low-code solutions you can use to create automations. And the lovely thing about it is that you have a very short learning curve, so you can really learn these tools within a few weeks and become proficient there.

I really advise you also to take time to learn them so you can also come up with your own creative ideas, how you can integrate AI, or how you can help business automate their processes.

In today’s course, I will give you a short introduction to Stammer because I personally use it in my agency.

The great thing about Stammer.ai is that it’s built specifically for agencies, and they have a white-label option.

Step 1. Create a new AI chatbot and customize it to your business.

Step 2. Enter any website URL to collect all of the information from select web pages.

Step 3. Select the different web pages you want to be added to the Knowledge Base. Now have a custom AI chatbot that knows everything about that website.

Step 4. Embed the AI chatbot on any website.

Step 5. Add your agency’s name and logo to fully white-label your agency’s dashboard.

Step 6. Add your custom domain name to rebrand the entire platform as your own. Everything, all the links throughout the dashboard, are rebranded for your agency.

Step. 7. Connect your Stripe account to resell AI chatbots and message credits directly to your customers.

Step 8. Set up your own AI subscription products for however much you want.

You control exactly how many chatbots and message credits your clients get. And the best part, customers pay you directly. So that way, when you get paid, a new client, sub-account and new user account are automatically generated for you.

Step 9. Create powerful automations with your white-label API to have AI chatbots respond to messages on Instagram, Facebook, Slack, Discord, and more.

Step 10. Create custom Zapier/Make.com workflows to connect your AI bots to over 5,000 different apps.

Step 11. Simplify your GoHighLevel automations to make everything easier for you and your clients.

So this is how to deliver a custom AI chatbot for your clients. It’s literally that simple with Stammer.ai.

Service Delivery: The Benefits of Specializing in a Single Niche

When you first deliver your service, you want to stick with one thing. A lot of people, when they first start an agency, they immediately change niches.

When you actually start getting your clients in the same niche, don’t start changing niches. Keep doing the same thing because it’s super important. Operating chatbots and AI apps in different niches is just so much hassle, and there’s so much maintenance involved. It’ll make it super hard for you to scale.

There’s a reason you want to only scale in one niche. It’s super simple. You just copy and paste your chatbot as many times as you want.

The Benefits of Keeping Consistent Systems

Secondly, you keep the same systems for each client. So if you keep the same systems for each client, you keep the same systems for your business. Imagine having different ways of fulfilling your service for different clients.

It just gets so messy. But if you’re just fulfilling it one way for all clients, then you can take on 100 clients with ease.

Overdelivering: Not Just About Results but Premium Experience

Quick pro tip here. Within the first 24 hours of signing a client after they’ve agreed to work with you is the most important time for your client and your relationship.

You want to make sure that you overdeliver in the first 24 hours, make sure that you give them a really premium experience and also make sure that they’re happy and there are no questions left unanswered.

Giving a premium experience doesn’t just mean giving premium results. It means communicating effectively and making sure that they have no objections on their end to work with you.

AI and SaaS: A Potent Combination

Now, let me share a bonus tip with you. It’s about productizing your service.

Consider ways in which you can offer your service as a product. The primary advantage of this approach is scalability. You won’t need to invest time in service delivery because the software or digital product takes care of that.

I understand that SaaS (Software as a Service) is a vast topic. Many prominent figures, like Iman Ghazi and other online business experts, discuss topics like SMMA.

However, what they’re doing behind the scenes is either developing their own SaaS or reselling GoHighLevel.

I believe SaaS will be one of the most significant trends in the coming years.

When combined with AI, it becomes an incredibly powerful tool. Once you’ve mastered this, you’ll essentially have an automated money-making machine.

This is my final bonus tip. It’s more advanced than serving AAA clients, but as you build your AAA, keep this in mind.

Why should you start your AI automation agency?

Everyone knows that AI automation agencies are the best ChatGPT business to start today. When ChatGPT became the fastest-growing app in the history of apps, businesses across the world started to take notice. The smartest businesses in the world are starting to integrate it today.

Now, let’s go over some of the reasons why to start an AI automation agency.

A Beginner-Friendly Business Model

The first point is definitely that it’s quite a beginner-friendly business model, so it doesn’t really require a lot of capital to start with, and it’s definitely quite easy to deliver the service because you can use low-code or no-code solutions. If you don’t feel comfortable with these, you can also hire freelancers to deliver the service for you.

But it’s crucial to have a fundamental understanding of what you’re actually delivering, obviously. But this knowledge can be acquired within two months or something like this to have a high-level understanding of what LLMs are and artificial in general so that you can confidently deliver the service to your clients.

Tapping into the Emerging Market of AI

This brings me to point two, which is that we are in an emerging market. That’s always a good sign, obviously. Ai has just scraped the surface of what it can be and will be in the future. Businesses are actually looking for ways how they can incorporate this new technology to their workflows.

But usually, the business owners don’t have the time to make the research and implement these systems. This is the time when you come into place and help them to optimize their workflows and at the end of the day, also increase their revenue using AI.

The Scalability Factor: Growing Your AI Agency

The third reason why you should start an AI automation agency is that it’s highly scalable. Software takes care of the biggest part of the delivery, which removes a lot of human error, which is great. But at the end of the day, you always need to set them up, obviously.

So for this, you can either do it yourself or also you could hire contractors to do it for you. Because at the end of the day, you don’t want to be a slave to your business. So the goal is also to be that the business works without your presence. But this takes time, obviously. I’m far from this, to be honest, but I’m working to get there.

Freedom and Flexibility: The Perks of Running an AI Agency

So the last point is that you are completely free where you want to do this. So you enjoy location, financial freedom. The only requirement is that you have a Wi-Fi connection, obviously, but nonetheless, you can do this from anywhere in the world.

Starting AI Automation Agency Final Words

That comes to the end of this guide on how to start an AI automation agency. I hope you found super valuable stuff on building your own AI business.

My final piece of advice is something I’ve used repeatedly in my career is the principle that you need to go through the hard times to reach the easy ones.

Learning new things and throwing yourself into unfamiliar territory is going to feel challenging, seemingly impossible, uncomfortable, and even dreadful at moments.

But that’s just the nature of learning new things. For instance, if after reading this, you attempt to learn how to use some of the software mentioned earlier, you might feel overwhelmed and even a bit unintelligent. You might feel completely out of your depth.

However, that’s a normal part of the process. You have to experience the difficulty to eventually find ease. If you persist for a week or two, wading through that discomfort, you’ll push through, and sooner than you might expect, it will start to feel manageable. Remember: you have to endure the hard to reach the easy.

The post How To Start an AI Automation Agency (AAA) The Ultimate Guide appeared first on businessolution.org.

Top AI Productivity Statistics 2023 (Workplace & Business)

Patryk Miszczak — Sat, 26 Aug 2023 17:39:30 +0000

Top AI Productivity Statistics 2023 (Workplace & Business)

AI has become a big deal for boosting productivity across industries. As technology continues to evolve, it’s clear that integrating AI is the way to reach new levels of productivity and creativity.

But how exactly does artificial intelligence connect to productivity? What real impact can AI have to crank things up a notch? What’s the deal with its role in getting more done?

In this article, we’ll dive into some fascinating stats that show how AI is seriously amping up productivity. We’ll check out key data points to help you better understand where AI productivity is at now and where it’s headed in the future.

August 26, 2023
, AI

Top AI Productivity Statistics

The adoption of AI increases business productivity by 40%.
The adoption of generative AI is predicted to result in a productivity increase of 1.5% annually, almost tripling the pace seen between 2010 and 2018.
By 2040, the incorporation of generative AI and other automation techniques might increase productivity by a possible 3.3% annually, opening up a new area for productivity improvement.
Employee productivity has reportedly been boosted by 61% as a result of greater AI usage at work.
With AI applications in enterprises, labor productivity is predicted to rise by around 30%.
AI will increase corporate efficiency, according to 64% of respondents, and 42% think it will simplify work procedures.
Over a ten-year period, productivity improvements brought on by AI may increase the global GDP by 7%.
As a result of artificial intelligence, a recent report predicts that labor productivity in developed nations could increase by up to 40% by 2035.
In Sweden, a 37% boost in AI output is anticipated. Japan (34%) and the U.S. (35%) are also anticipated to gain a lot from AI’s impacts.
79% of managers believe AI will make their jobs easier and more effective, while 54% of managers claim that using AI at work has enhanced productivity.
Generative AI can contribute between $2.6 and $4.4 trillion to annual global GDP across 63 different use cases.
Adoption of AI could boost GDP by up to $13 trillion by 2030.
AI will result in a 40% increase in overall worker productivity.
64% of companies are anticipating an improvement in productivity as a result of AI.

Market Size of AI in Productivity

Generative AI can contribute between $2.6 and $4.4 trillion to annual global GDP across 63 different use cases (McKinsey Insights)

A recent study conducted by McKinsey Insights suggests that generative artificial intelligence might contribute between $2.6 and $4.4 trillion to annual global GDP across 63 different use cases.

This results in an increase of between 15% and 40% in the overall effect of AI. The productivity boost that generative AI can bring to the world economy could amount to billions of dollars.

If generative AI is implemented into more software applications, the effect may be increased by a factor of two.

Adoption of AI could boost GDP by up to $13 trillion by 2030, or 1.2% more GDP growth annually (McKinsey Insights)

According to a calculation utilizing McKinsey survey data, the adoption of AI may increase the global GDP by as much as $13 trillion by 2030, or approximately 1.2% more GDP growth per year.

However, this impact won’t materialize right away since the majority of the expenditures associated with using AI can exceed the potential for financial gain.

AI-Driven Productivity Surge

AI productivity gains are projected to reach 37% in Sweden by 2035, followed closely by Finland at 36% and the USA at 35% (DevriX)

The realm of AI is set to revolutionize productivity, with Sweden expected to lead the charge with a remarkable 37% growth by 2035.

In close pursuit, Finland and the USA anticipate gains of 36% and 35%, respectively, while Japan and Austria also project substantial improvements of 34% and 30%.

Countries	% Age of Productivity
Sweden	37%
Finland	36%
USA	35%
Japan	34%
Austria	30%
Germany	29%
Netherlands	27%
UK	25%
France	20%
Belgium	17%
Italy	12%
Spain	11%

The Impact of AI on Productivity

According to an impressive 61% of employees, AI has increased productivity at work (SnapLogic, 2021)

An impressive 61 percent of employees attribute increased workplace productivity to AI. Additionally, AI fosters team cooperation, as more than a third of workers observe enhanced collaboration among teams.

This favorable attitude towards AI is mirrored by over two-thirds of employees expressing a keen interest in greater AI integration within their professional surroundings.

See also our article on AI in workplace statistics.

49% of participants acknowledged better decision-making and faster insights, while 51% said AI supported attaining a better work-life balance. 61% of participants recognized AI’s contribution to an effective and productive workday (VentureBeat)

When asked about the benefits of AI integration in a recent poll, a significant 61% of respondents said that it made workdays more productive and streamlined.

Nearly 50% of respondents (49%) also said that AI has a beneficial influence on their decision-making processes, resulting in faster insights.

Additionally, slightly more than half (51%) of the participants expressed the opinion that AI is crucial to creating a better work-life balance.

AI’s Productivity Impact Across Industries

By increasing productivity by 2.8% to 4.7%, or an extra $200 billion to $340 billion, generative AI could have a substantial positive influence on the banking sector (McKinsey Insights)

The prior use of artificial intelligence in areas like marketing and customer operations has already greatly helped the banking industry.

Uses of generative artificial intelligence might provide further advantages, particularly due to the prevalence of text modalities in areas including laws and programming languages, as well as the fact that the sector is customer-facing and serves a large number of B2C and small-business clients.

Between 2.6% and 4.5% of yearly sales, or $60 billion to $110 billion annually, might be affected by generative AI in the pharmaceutical and medical product sectors (McKinsey Insights)

The fact that the process of discovering new therapeutic compounds requires a large number of resources gives rise to this substantial possibility.

The average time it takes to develop a new medicine is ten to fifteen years, and pharmaceutical firms typically devote around 20% of their profits to Research and Development.

Considering these huge expenditures and lead times, improving Research and Development’s effectiveness and quality may result in significant value.

Adoption of generative AI might result in productivity gains of between 0.2% and 3.3% annually, which would balance out a decline in job growth and promote economic growth as a whole (McKinsey Insights)

Technology, including generative AI, can boost productivity, reversing the loss of jobs and promoting economic development.

According to our estimates, work automation could improve global productivity by 0.23 to 3.3% per year (2023–2040).

Boosting Productivity Using Generative AI

With an expected 0.1% to 0.6% yearly increase until 2040, generative AI has great potential for increasing worker productivity (McKinsey Insights)

Depending on the rate of technological adoption and the reallocation of worker time, generative AI has the potential to promote a labor productivity increase of 0.1% to 0.6% annually until 2040.

Combining generative AI with other technologies may boost productivity by an additional 0.2% to 3.3% annually. However, a crucial role will be played by effective worker assistance for skill development and career changes.

Ultimately, generative AI has the potential to dramatically boost economic development and promote a more diverse and sustainable world if properly handled.

AI-driven conversational assistant implementation led to a 14% increase in issue resolution per hour, using data from 5,179 customer support agents (National Bureau of Economic Research)

Recent research conducted by the National Bureau of Economic Research looked at the consequences of introducing a conversational assistant powered by AI to a group of 5,179 customer service representatives.

The findings demonstrated a substantial increase of 14% in the number of problems answered each hour.

Sweden, the U.S., and Japan could see productivity rise by around 37%, 35%, and 34% respectively, while Germany and Austria might experience up to 30% labor productivity improvement through AI in the next 15 years (Statista)

According to the report, the impact of artificial intelligence could increase labour productivity in advanced countries by as much as 40% by 2035.

Notable boosts are expected in Japan (34%), Sweden (37%), the U.S. (35%), Germany, and Austria within the next 15 years.

AI’s Transformative Impact and Benefits on Productivity

Technology-driven applications might replace up to 300 million full-time employees while simultaneously creating a number of unique job categories that could result in a 7% annual rise in global productivity over the course of a decade (Harvard Business Review)

Recent Goldman Sachs research predicted a major possible change in the employment environment.

According to their estimate, technological improvements might lead to the replacement of up to 300 million full-time jobs with apps that are driven by technology.

However, it is envisaged that this shift would have a balanced impact by leading to the birth of various new employment categories.

With a projected increase of around 7% each year over the course of ten years due to these developments, the productivity landscape might significantly improve.

How does AI-driven Productivity Affect the Economy, Job Market, and GDP?

In 63 use case scenarios, generative AI could add $2.6 trillion to $4.4 trillion yearly, or 15% to 40%, to the projected economic value of nongenerative AI and analytics, which is between $11 trillion and $17.7 trillion (McKinsey Insights)

With 63 use cases across 16 business processes, generative AI has a wide range of possible applications and has the potential to provide significant financial gains. When implemented across diverse businesses, these advantages are predicted to vary from $2.6 trillion to $4.4 trillion annually.

Importantly, this anticipated effect would add 15% to 40% to the current economic value of nongenerative artificial intelligence and analytics, which ranges from $11 trillion to $17.7 trillion. The synergistic impact of generative AI opens up a potentially significant path for economic development and sectoral improvement.

Four essential business functions—software engineering, customer operations, marketing and sales, and research and development—combine to account for around 75% of the yearly value from generative AI use cases (McKinsey Insights)

Examining 16 different company areas, it becomes clear that only four exhibit a significant concentration of value. These activities have the potential to account for around 75% of the yearly value generated by the use of generative AI.

This targeted distribution emphasizes the importance of these particular fields in using the significant advantages provided by generative AI, highlighting their key function in promoting productivity, creativity, and operational efficiency.

AI Tools and Platforms Enhancing Productivity

Customer service representatives’ productivity increased by over 14% while utilizing generative pre-trained transformer (GPT) AI technology (National Bureau of Economic Research)

According to a National Bureau of Economic Research (NBER) report, customer care representatives who used a generative pre-trained transformer (GPT) AI tool showed an improvement in productivity of over 14%.

Since non-sales sources of information are preferred by 59% of consumers, AtOnce and other AI solutions are being strategically used to increase productivity and save expenses (AtOnce)

An important change was discovered by a recent Forrester survey, which found that 59% of consumers preferred information from sources other than direct sales encounters. Utilizing AI-powered solutions like AtOnce is a smart investment that may increase production while reducing costs.

Traditional sales training has a minimal 16% rate of retention following 90 days, but AI-powered business tools provide real-time mentoring and feedback to salespeople, resulting in an increase in productivity (AtOnce)

Recent data that highlighted a retention rate of just 16% for sales training after 90 days highlights the need for an alternate approach to training.

Tools that are driven by AI provide a solution to the problem by delivering real-time coaching and feedback to sales personnel. This results in improved overall performance as well as increased overall productivity.

Challenges and Limitations in AI-Driven Productivity

Automation and AI will increase productivity and economic development, but by 2030, millions of workers may need to change their employment or acquire new skills ((McKinsey Insights)

The forecasts of occupational shifts to 2030 point out a “step-up” scenario where proactive actions by governments and businesses foster job creation over the next 15 years. However, they are illustrations rather than predictions and depend on scenarios of automation-displaced work and emerging trends such as rising incomes and increased healthcare spending.

Occupations	China	Germany	India	Japan	Mexico	US
Creators	85%	17%	58%	-4%	28%	8%
Technology Professionals	50%	59%	129%	15%	27%	34%
Teachers	119%	17%	208%	-8%	37%	9%
Managers and Executives	40%	21%	75%	0%	24%	15%
Builders	9%	13%	117%	-16%	48%	35%
Care Providers	122%	25%	242%	-1%	83%	30%
Professionals	26%	20%	46%	2%	32%	11%
Office Support	14%	-15%	21%	-23%	22%	-20%
Predictable Physical Work	-4%	21%	15%	-33%	8%	-31%
Customer Interaction	36%	11%	46%	-13%	15%	-1%
Unpredictable Physical Work	12%	-6%	9%	-5%	16%	6%

AI’s Future Impact on Productivity

AI will result in a 40% increase in overall worker productivity (PWC)

PWC’s insights reveal a significant forecast: the adoption of AI is poised to usher in a remarkable 40% surge in the overall productivity of workers.

This anticipated increase underscores the transformative potential of AI in reshaping the efficiency and effectiveness of various industries.

64% of companies are anticipating an improvement in productivity as a result of AI (Forbes)

A significant 64% of organizations are anxiously expecting an increase in productivity as a result of the integration of AI, according to a noteworthy figure that has emerged. This reflects the rising optimism about AI’s ability to revolutionize how businesses operate.

By 2030, the estimated impact of AI on production might increase the global GDP by $15.7 trillion, with increased worker productivity expected to account for more than 55% of these gains (BSC Group)

Artificial intelligence (AI) is expected to boost production over the next ten years, which might result in a startling $15.7 trillion rise in the global GDP by 2030. Further highlighting the significance, recent research points out that impressive increases in worker productivity are anticipated to account for more than 55% of these GDP benefits from AI.

Conclusion

The numbers clearly show how AI is transforming work across industries. Adopting AI is leading to major productivity gains, especially with generative AI anticipated to rapidly accelerate progress.

Industries like banking, healthcare, and customer service stand to benefit a lot from integrating AI. While automation may negatively affect the labor market and jobs, it also has the potential to expand employment opportunities and increase worker satisfaction.

Looking ahead, it’s clear AI will have a huge impact on economic growth and workforce productivity. Businesses and the concept of work will change dramatically thanks to how AI enhances efficiency.

In summary, the data highlights that AI is a transformative technology that will reshape industries and redefine productivity. Businesses that embrace AI will be best positioned to unlock its benefits and see substantial efficiency gains.

The future looks bright as AI augments how we work! These statistics give us a glimpse into the productivity potential that lies ahead.

References

Employees want more AI in the workplace. (2022, October 14). SnapLogic. https://www.snaplogic.com/resources/infographics/employees-want-more-ai-in-the-workplace
Rao, A., & Greenstein, B. (2022). PwC 2022 AI business survey. PwC. https://www.pwc.com/us/en/tech-effect/ai-analytics/ai-business-survey.html
Haan, K. (2023, April 24). How businesses are using artificial intelligence in 2023. Forbes Advisor. https://www.forbes.com/advisor/business/software/ai-in-business
The economic potential of generative AI: The next productivity frontier. (2023, June 14). McKinsey & Company. https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/the-economic-potential-of-generative-ai-the-next-productivity-frontier#business-and-society
Chakravorti, B. (2023, June 25). How will AI change work? A look back at the ‘productivity paradox’ of the computer age shows it won’t be so simple. Fortune. https://fortune.com/2023/06/25/ai-effect-jobs-remote-work-productivity-paradox-computers-iphone-chatgpt/
Manyika, J., & Bughin, J. (2018, October 15). The promise and challenge of the age of artificial intelligence. McKinsey & Company. https://www.mckinsey.com/featured-insights/artificial-intelligence/the-promise-and-challenge-of-the-age-of-artificial-intelligence
Marr, B. (2023, June 27). Boost your productivity with generative AI. Harvard Business Review. https://hbr.org/2023/06/boost-your-productivity-with-generative-ai
Measuring the productivity impact of generative AI. (2023, June 6). NBER. https://www.nber.org/digest/20236/measuring-productivity-impact-generative-ai
Akhtar, A. (2023). Boost Sales Productivity with AI Investment | 2023 Guide. AtOnce. https://atonce.com/blog/sales-productivity-investment#how-ai-can-boost-your-sales-productivity
AI offers major productivity boost for global economy. (2019, October 17). BSC group. https://bscgroup.ee/ai-offers-major-productivity-boost-global-economy/
How artificial intelligence affects digital marketing. (2021, March 30). DevriX. https://devrix.com/tutorial/how-artificial-intelligence-affects-digital-marketing/
McKendrick, J. (2023, April 25). Yes, AI Increases Productivity, Study Suggests. Forbes. https://www.forbes.com/sites/joemckendrick/2023/04/25/yes-ai-increases-productivity-study-suggests/?sh=2227c05e12c2
Raymond, L., Brynjolfsson, B., & Li, D. (2023, April). Generative AI at work. NBER. https://www.nber.org/papers/w31161
Wiggers, K. (2021, July 20). The landscape of qualitative research — which approach is best? VentureBeat. https://venturebeat.com/business/the-landscape-of-qualitative-research-which-approach-is-best/
Buchholz, K. (2020, December 15). Infographic: Where AI is aiding productivity. Statista Daily Data. https://www.statista.com/chart/23779/ai-productivity-increase/

Patryk Miszczak

Launch Profitable Sales Funnels

Every online business needs a repeatable and consistent sales process that converts their visitors into leads, customers, and advocates.

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67 AI Marketing Statistics 2023 [Adoption, Use Cases, Market Size]

Patryk Miszczak — Sun, 20 Aug 2023 05:23:32 +0000

67 AI Marketing Statistics 2023 [Adoption, Use Cases, Market Size]

As AI has become more common in a variety of sectors, it is expected to become a major player in digital marketing trends in 2023.

But what is the role of artificial intelligence in marketing? What changes can artificial intelligence actually bring to digital marketing? And how important is artificial intelligence for marketing?

Let’s have a look at the statistics that will help you better grasp the present status of AI in marketing and its future scope as well.

August 20, 2023
, AI

Top AI Marketing Statistics in 2023

Below are our top picks for the most important AI in marketing statistics.

The present value of the artificial intelligence (AI) industry in marketing is $15.84 billion, and it is expected to exceed $100 billion over the next five years.
AI is used for marketing purposes by 28% of top companies.
In 2022, just 15% of content marketers plan to use AI
Companies that implement AI technologies see a 451% increase in qualified leads.
According to 84% of digital marketing executives, using AI and ML improves the marketing function’s ability to provide clients with real-time, personalized experiences.
Within the last four years, there has been a 55% increase in the use of AI in marketing.
Today, AI is used for content marketing by over 50% of corporate executives.
AI has been used at firms by 73% of marketing directors.
AI is one of the technologies that will have an influence on marketing in the future, according to 79% of respondents to the Drift Leadership Study.
The market for AI in marketing is estimated to be worth more than USD 48.8 billion by the year 2030 and will grow at a CAGR of 28.6%
The marketing and sales function will be impacted by between $1.4 trillion and $2.6 trillion, according to the McKinsey Global Institute.
AI technology is used in toolkits by 64% of marketing businesses.
High-performing marketers claimed to have a fully developed AI strategy in 70% of cases.
Marketers claim that using AI reduces call time by 70%.
In order to free up IT staff for more strategic work, 40 percent of infrastructure and operations (I&O) teams at big organizations will utilize AI-augmented automation by 2023.
Australia experienced an 85% boost in revenue for firms using AI marketing initiatives.
The attitudes of freelancers towards the use of AI in marketing are likewise divided.
More than 40% of marketers believe that if AI took over, key activities would remain for people to do.
According to 81.6% of digital marketers, AI will eventually replace content writers.
Only 47% of marketers are skeptical about AI-based automated ad targeting.
AI has the potential to replace 5% of sales force jobs.
Marketing in the US is adopting generative AI more quickly than any other sector.
The production of AI will be responsible for 30% of major organizations’ outbound marketing communications.
33% of marketers that utilize AI say it generates fresh concepts.
Almost 80% of marketers are automating at least some aspects of the client experience.
For the purpose of generating demand, more than half of B2B marketers utilize AI chatbots.
52% of successful marketing firms have increased their use of AI.
The deployment of AI resulted in a 41% boost in revenue and conversions from email marketing.
In 2022, 22% of the artificial intelligence market will be controlled by the promotional and media industries.
By 2030, AI marketing will account for 45% of all economic benefits.
Over 19% of marketing professionals allocate at least 40% of their overall marketing budget to AI.
By 2027, 74% of marketers will utilize AI for more than 25% of their work.
Even if they didn’t gather the AI data, marketers are still learning from it.
The value of Jasper AI is at least $1.5 billion.
AI might do tasks that now take ten years in only one.
According to 63% of marketers, the largest obstacle to using AI is a lack of expertise in the field.
Nearly 90% of marketers think their company has to embrace AI more to better serve consumers and compete.
Marketers that use automation deem it successful 86% of the time.
AI solutions were employed by 90% of marketers in 35 different countries to automate consumer interactions.
According to 88% of marketers that deal with AI, the technology has assisted them in personalizing the client experience across a variety of channels.
Globally, over eighty percent of online marketers employ some form of artificial intelligence.
Chatbots were employed in demand generation campaigns by 57% of B2B marketers in the United States to better understand their target market.
The use of chatbots to create new leads was reported by 55% of B2B marketers in the United States.
Data analysis using AI is used by 53% of the marketers that were surveyed.
Chatbots are used by 52% of telecom companies.
The majority of Americans—nearly 50%—believe that social media postings for commercial reasons cannot utilize Photoshop or generative AI.
50% of marketers have integrated AI into their business plans.
Nearly 50% of marketers expressed worry about the confidentiality of information and the ethics of artificial intelligence.
In the United States, the United Kingdom, India, and Canada, 47% of marketers stated they preferred AI for ad targeting.
About 45% of marketing professionals utilize AI to generate content.
According to 43% of B2B marketers in the US, chatbots helped them inform potential customers.
In the United States, the United Kingdom, India, and Canada, respondents who worked in marketing said that they trusted AI 42% for real-time personalization of content and offers and 39% for email send-time optimization.
35% of marketers are worried about the governance and risk problems associated with the use of AI in marketing.
ChatGPT is the most frequently mentioned AI tool among our respondents, having been cited by 34.5% of our marketing respondents.
Time-saving was cited as the main advantage of AI and machine learning by 33% of American marketers who use these solutions.
32% of marketers globally use marketing automation and AI to personalize email messages and offers and run paid advertising.
The technologies aided their understanding of consumer preferences and trend insights, according to 31% of American marketers using AI and machine intelligence.
29% of marketing executives want to employ AI in the future.
According to 26% of American marketers, AI and machine learning helped them optimize their content.
The lead generation volumes of 26% of B2B marketers in the U.S. who used chatbots in their marketing campaigns grew by 10% to 20%.
To create personalized email subject lines, product and content suggestions, and marketing automation, 22% of marketing professionals globally utilize AI.
According to 15% of B2B marketers in the U.S., chatbots helped them generate more leads by over 30%.
The likelihood that top-performing businesses use AI for marketing is more than twice as high (28% vs. 12%).
To enhance customers’ purchasing experiences, retailers are spending $5.9 billion this year on AI-based marketing and customer support solutions.
With 37% of financial services marketers now employing AI applications, they outpace all other sectors in terms of adoption.
The most common way for sales and marketing teams to cooperate is via the use of AI-based apps such as Configure-Price-Quote (CPQ) and Marketing Automation. Sales executives anticipate that the use of AI will expand by 155% across sales teams in the next two years.
21% of sales executives use AI-based tools, with the majority working together with marketing teams to share these tools.
A total of 22% of marketers now utilise AI-based products, and another 57% aim to use them during the next two years.

Market Size of AI in Marketing

Artificial intelligence (AI) in marketing was predicted to have a 15.84 billion USD industry in 2021. By 2028, the value, according to the estimate, will surpass 107.5 billion (Statista)

Back in 2021, the AI scene in marketing was rocking a hefty price tag of 15.84 billion U.S. dollars. Fast forward to the future, and things were gearing up for an incredible leap. By 2028, experts were laying their bets on that number blasting off to a whopping 107.5 billion.

In 2017, the market for artificial intelligence (AI) in marketing was valued at USD 5.00 Billion, and it is anticipated that it would reach USD 40.09 Billion by 2025, at a CAGR of 29.79% over the forecast period (MarketsandMarkets)

Between 2018 and 2025, it is anticipated that the market for AI applications in marketing will expand at the greatest CAGR in APAC. This expansion may be ascribed to the adoption of AI services in end-user sectors such as retail, BFSI, enterprise, and media and advertising in countries such as Japan, China, Australia, and South Korea. Other nations contributing to this development include the United States of America.

The market for AI in marketing will be worth more than USD 48.8 billion by the year 2030 and will grow at a CAGR of 28.6% (MRFR)

During the new and continuing forecast period of 2021–2028, the worldwide market is anticipating intriguing growth due to the growing momentum of artificial intelligence across many sectors and industry verticals. According to a report by Market Research Future, the market for AI in marketing will reach a value of more than 48.8 billion US dollars by the year 2030 and will grow at a compound annual growth rate of 28.6%.

Adoption of AI in Marketing

Artificial intelligence in marketing has existed for decades, and in recent years, it has become an increasingly prevalent component of marketing operations. But it still has a huge chance to improve marketing procedures and aid in the industry’s rapid development.

These machine learning statistics demonstrate how AI is advancing in marketing as well.

87% of organizations that had used AI were utilizing it to boost email marketing (Leftronic)

According to data on AI adoption, users are attempting to use AI to enhance their email marketing efforts. In terms of percentage, they are now in the upper 80s, but the utilization rate is anticipated to become much higher than that.

AI is currently being used for content marketing by more than half of the CEOs of businesses (SiegeMedia)

In a recent survey, 52% of business executives said that their organization already uses generative AI as part of its content marketing strategy. 64.7% of businesses will have used AI in marketing by the end of 2023.

Artificial intelligence has been implemented in their organizations by 73 percent of marketing professionals (MarTech)

Marketing directors have embraced AI solutions, such as generative AI, in both B2B and B2C businesses. Of those who haven’t used AI yet, 31% plan to within the next year, and 46% within the next two years.

Obstacles to AI Adoption in Marketing

Although the usage of AI has increased recently, there are still issues that prevent its widespread acceptance in the marketing industry. Here are some numbers about the roadblocks to AI marketing:

45% of marketers are AI marketing beginners, with 63% highlighting education and training gaps as the main obstacle to AI adoption, while just 11% have formal AI-focused education within their companies (Influencer Marketing Hub)

AI Novices: A significant 45% of marketers are currently at the beginner stage of AI integration in their strategies.
Training Hindrance: A staggering 63% of marketers point to a lack of training as the primary obstacle to adopting AI for their marketing efforts.
Education Gap: Surprisingly, only 11% of marketers report having access to formal AI education within their companies, highlighting a crucial need for more comprehensive AI learning opportunities.

Where is AI Used in Marketing?

When it comes to marketing, there are a plethora of use cases for deploying AI. Amazon started recommending items to its consumers using “collaborative filtering” in 1998, marking the first time that AI and marketing were merged. Artificial intelligence (AI) applications in different areas of marketing, for example, content marketing, advertising automation, dynamic pricing, etc., are constantly expanding day by day.

Leading industries worldwide in which marketers used marketing automation and artificial intelligence (AI) as of February 2022 (Statista)

In a study of marketers performed in February 2022, 32% of participants claimed to be using marketing automation and artificial intelligence (AI) together for paid advertising as well as for the customization of email messages and offers. When it comes to making suggestions for products and content as well as customizing email subject lines, 22% of respondents blended AI with marketing automation.

Categories	Share of respondents
Paid advertising	32%
Personalizing email messages/offers	32%
Product/content recommendations	22%
Personalizing email subject lines	22%
Predictive analytics	18%
Account identification	18%
Chatbots	16%
Campaign send/deployment timing	16%
Segmentation	12%

In 2022, just 15% of content marketers plan to use AI more (CMI)

According to the annual B2B Content Marketing Report compiled by CMI (Content Marketing Institute) and MarketingProfs, just 15% of content marketers are planning to increase their use of AI in 2022.

Over 80% of marketers believe that AI is a significant trend in advertising (Leftronic)

According to the most recent study, 82% of marketers agree that artificial intelligence (AI) and machine learning (ML) are key elements that will influence the future of marketing. Additionally, marketers anticipate that the application of artificial intelligence in marketing will enhance the ability to recognize potential clients and boost overall marketing efficiency.

CMOs prioritize AI in personalized content and predictive analytics, with B2B service firms (62.2%) leading in content personalization (Marketing Charts)

The two applications of AI that CMOs now place the most priority on are content personalization and predictive analytics based on consumer data. According to the CMO survey, B2B service firms (62.2%) are the top users of AI for content personalization, while B2B product companies (62.2%) are the top users of AI for both virtual and augmented reality, face recognition, and visual searching.

Leading Applications of Generative AI in Marketing

76% of those marketers who are currently employing generative AI stated that they utilize it for fundamental content generation and to develop copy (Insider Intelligence Inc.)

Of the marketers presently utilizing generative AI, a substantial 76% employ it for fundamental content creation and the development of copy, showcasing its integral role in modern marketing strategies.

Uses for Generative AI	% of Respondents
Basic content creation	76%
Write copy	76%
Inspire creative thinking	71%
Analyze market data	63%
Generate asset images	62%

How Does Artificial Intelligence Help in Marketing?

Nevertheless, artificial intelligence (AI) has been steadily making its way deeper into marketing over the last several years, assisting firms in improving every stage of the consumer experience.

But How Does Artificial Intelligence Help in Marketing?

40% of companies cite user experience as their primary motivation for using artificial intelligence (Semrush)

According to a Semrush report on AI in marketing, 40% of organizations cite customer experience as their main reason for utilizing AI. Additionally, research on the use of AI in email marketing indicates improvements in revenue, CTR, and open rates.

As of January 2022, top marketers throughout the globe rely on artificial intelligence (AI) to do a variety of tasks for them (Statista)

In a survey of marketing professionals in the US, UK, India, and Canada, 47% of participants stated they trusted artificial intelligence (AI) to target advertisements.

Categories	Share of Respondents
Target ads	47%
Personalize content & offers in real time	42%
Optimize email send time	39%
Calculate conversion probability	37%
Optimize email subject line	33%
Conduct a live chat session	32%
Score leads	30%
Write subject lines	22%
Write copy	21%

82% of marketing leaders cite enhancing the customer experience as the primary driving force behind their choice to embrace AI (Statista)

For 82% of marketing leaders, the adoption of AI stems from a paramount goal: elevating the customer experience. This statistic underlines how customer-centricity is steering the AI revolution in marketing.

What Drives Marketers to Utilize AI?

For greater consumer comprehension, 57% of B2B marketers employ AI chatbots (Statista)

According to research conducted by Statista, 57% of business-to-business (B2B) marketers make use of chatbots in order to obtain a more in-depth knowledge of their target demographic. In near succession, utilizing AI chatbots to generate fresh leads (55%), educate potential customers (43%), and assess lead viability (42%) ranks prominently.

Reasons	% of Respondents
Understand the audience better	57%
Generate new leads	55%
Educate prospects	43%
Qualify leads for the sales team	42%
Segment the audience	42%
Build stronger customer relations	42%

Benefits of AI in Marketing Statistics

The key advantage marketers emphasize when outlining the advantages of employing AI in marketing is a fantastic user experience. A successful firm must, without a doubt, focus on growing customer satisfaction, which is directly related to rising corporate earnings. However, the advantages of AI extend beyond the consumer end of the spectrum. Businesses that incorporate AI-powered marketing solutions may reap significant advantages in terms of time and money savings, resource optimization, and a focus on one-of-a-kind, innovative tasks.

Incorporating AI into marketing and sales has, according to 79% of respondents, enhanced company revenue (McKinsey)

One-third of U.S. marketers utilizing AI and machine learning tools have identified time savings as the primary and most impactful advantage of employing these technologies (Statista)

In the realm of U.S. marketers, a noteworthy trend emerges as a significant percentage, specifically 33%, express that the most prominent reward derived from their integration of machine learning and AI marketing tools is the gift of time saved. These innovative technologies have proven adept at streamlining processes, enabling professionals to allocate their precious time more efficiently.

Recommended Reading:

AI in Business Statistics

According to 84% of digital marketing executives, utilizing AI and ML improves the marketing function’s potential to provide clients with real-time, personalized experiences (Gartner)

Marketing goals for personalization are intimately related to the use of AI/ML technologies. In fact, according to 84% of digital marketing executives, utilizing AI/ML improves the marketing function’s ability to provide clients with real-time, customized experiences. The biggest advantage of AI/ML solutions, according to many digital marketing experts, is their ability to automate, scale, and optimize marketing efforts across channels.

AI Marketing’s Challenges and Considerations

AI in marketing offers exciting possibilities, but it’s not without its challenges. Balancing personalization with privacy, maintaining a human touch, and preventing biases in algorithms are all hurdles to overcome. Navigating these concerns thoughtfully is key to harnessing AI’s potential in marketing.

An overwhelming majority of digital marketers (81.6%) believe that AI will eventually replace content writers (Authority Hacker)

The use of AI language models may make written text nearly unrecognizable from writing done by humans. It’s hardly surprising that the majority of digital marketers believe AI will someday replace copywriters and content writers since it can significantly speed up the process.

It’s also predicted that professionals who are skilled in using AI for these goals may find themselves in new positions.

According to 63% of marketers, the largest obstacle to using AI is a lack of expertise in the field (Drift – AI Marketing)

Lack of knowledge and training on how to use AI effectively is the only barrier impeding the adoption rate in marketing. More than 60% of those who took the survey said they were hesitant to adopt AI because they didn’t think they understood it well enough.

The fact that 89% of marketers report that their organizations lack an AI training program shouldn’t come as a surprise.

The rising usage of AI is causing 35.6% of marketing professionals to worry that their jobs may be in danger (Influencer Marketing Hub)

A survey of 2,700 marketing professionals revealed that 35.6% of them are worried that the rising use of AI will pose a danger to their careers. However, the same proportion disagrees and says it wouldn’t be, with 28.8% of them being unsure.

Future of Artificial Challenges in Marketing

The worldwide AI industry is predicted to reach $267 billion by the year 2027. This growth isn’t unexpected, considering all the advantages of AI in marketing. With AI-powered solutions, marketing teams will not only be able to automate key cognitive processes. They will also be able to recognize present trends as well as anticipate them for the future, so helping to assure the success of their marketing initiatives.

40% of infrastructure and operations (I&O) teams at big organizations will utilize AI-augmented automation by 2023 (Gartner)

Popular AI developments include augmented intelligence. The term “augmented intelligence” describes the employment of humans and robots to improve cognitive performance. In order to free up IT staff for more strategic work, by 2023, AI-augmented automation will be used by 40% of infrastructure and operations (I&O) teams at big companies.

Companies that have adopted AI will be 10 times more effective and hold twice as much of the market by 2025 as those that have not (Genpact)

Companies must be aware that a tipping moment for AI is approaching. Slow progress will soon accelerate and become spectacular. By 2025, businesses that have used AI will be ten times more efficient and will have double the market share of those that have not.

By 2025, the market for AI software—which includes NLP applications and robotic process automation—will be worth about $126 billion (Statista)

The market for AI software is expected to reach $126 billion by 2025, growing at a fast rate. This rise is spurred by the rising use of robotic process automation (RPA) and natural language processing (NLP) tools, which streamline repetitive operations and enable advanced language interactions. The market for AI software is growing as a result of these technologies’ ability to reshape sectors and increase productivity.

AI Marketing Statistics Final Words

As we stride into the heart of 2023, AI is emerging as a dynamic force in marketing, redefining the landscape. From its pivotal role in content creation to its potential for elevating customer experiences, AI’s influence is unmistakable. Yet, challenges persist, including the need for more education, with a significant number of marketers still considering themselves novices. Anticipating the road ahead, AI’s economic impact is projected to surge, promising exciting transformations that will shape the future of marketing.

References

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Stefanski, R. (2022). 8 Ways AI Will Change the Future of Marketing in 2022 | Engati. Engati. Retrieved 2 September 2022, from https://www.engati.com/blog/8-ways-ai-will-change-the-future-of-marketing.
AI in Marketing Market To Surpass USD 48.8 Billion by 2030 Growing at a CAGR of 28.6% – Report by Market Research Future (MRFR). GlobeNewswire News Room. (2022). Retrieved 2 September 2022, from https://www.globenewswire.com/news-release/2022/08/08/2494086/0/en/AI-in-Marketing-Market-To-Surpass-USD-48-8-Billion-by-2030-Growing-at-a-CAGR-of-28-6-Report-by-Market-Research-Future-MRFR.html.
Top activities marketers trust AI to do worldwide 2022 | Statista. Statista. (2022). Retrieved 2 September 2022, from https://www.statista.com/statistics/1304112/activities-marketers-trust-artificial-intelligence-to-do-world/.
Conn, S. (2021). Gartner Says 63% of Digital Marketing Leaders Still Struggle with Personalization, Yet Only 17% Use AI and Machine Learning Across the Function. Gartner. Retrieved 2 September 2022, from https://www.gartner.com/en/newsroom/press-releases/-gartner-says-63–of-digital-marketing-leaders-still-struggle-wi.
Contentmarketinginstitute.com. (2022). Retrieved 2 September 2022, from https://contentmarketinginstitute.com/wp-content/uploads/2021/10/B2B_2022_Research.pdf.
Marko, M. (2019). 27 Artificial Intelligence Statistics: What’s New in 2022?. Leftronic.com. Retrieved 2 September 2022, from https://leftronic.com/blog/artificial-intelligence-statistics/.
AI 360: Accelerating AI in the enterprise | Point of view | Genpact. Genpact. Retrieved 2 September 2022, from https://www.genpact.com/insight/ai-360-accelerating-ai-in-the-enterprise
7th State of Marketing Report. Salesforce.com. Retrieved 2 September 2022, from https://www.salesforce.com/ap/form/conf/state-of-marketing/?leadcreated=true&redirect=true&chapter=&d=70130000000sUVq&player=&nc=7013y000002hMwTAAU&videoId=&playlistId=.
Artificial Intelligence in Marketing Market by Technology Machine Learning, Context-Aware Computing – 2025 | MarketsandMarkets. Marketsandmarkets.com. Retrieved 2 September 2022, from https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-in-marketing-market-3175268.html.
Why use marketing automation for your business?. Salesforce.com. Retrieved 2 September 2022, from https://www.salesforce.com/in/products/marketing-cloud/benefits-of-marketing-automation/.
Top areas combining AI & marketing automation 2022 | Statista. Statista. (2022). Retrieved 2 September 2022, from https://www.statista.com/statistics/1303223/top-areas-artificial-intelligence-marketing-automation/.
Dillard, T. (2022). How AI Helps Marketing in 2022 – InData Labs. InData Labs. Retrieved 2 September 2022, from https://indatalabs.com/blog/ai-helps-marketing.
AI and ML marketing benefits for U.S. companies 2022. (2023, May 2). Statista. https://www.statista.com/statistics/1364767/ai-ml-usage-company-benefits-us/
Global AI software market size 2018-2025. (2022, July 27). Statista. https://www.statista.com/statistics/607716/worldwide-artificial-intelligence-market-revenues/
Timm, D. (2023, March 21). 39 AI Writing Statistics in 2023 — What Content Marketers Need To Know. Siege Media. https://www.siegemedia.com/strategy/ai-writing-statistics
Hoffman, C. V. (2023, May 8). 73% of marketers now using generative AI tools. MarTech. https://martech.org/73-of-marketers-now-using-generative-ai-tools/
Carpena, M. (2023, May 31). 40+ artificial intelligence statistics for marketers in 2023. WebFX. https://www.webfx.com/blog/marketing/ai-statistics/
Dencheva, V. (2023, January 6). Global AI in marketing revenue 2028. Statista. https://www.statista.com/statistics/1293758/ai-marketing-revenue-worldwide/
2022 state of marketing and sales AI report. (2023, May 5). Drift. https://www.drift.com/books-reports/state-of-marketing-ai/
Warren-Payne, A. (2019, March 14). CMOs’ top uses for AI: Personalization and predictive analytics. Marketing Charts. https://www.marketingcharts.com/customer-centric/analytics-automated-and-martech-107714
Columbus, L. (2019, July 7). 10 Charts That Will Change Your Perspective Of AI In Marketing. Forbes. https://www.forbes.com/sites/louiscolumbus/2019/07/07/10-charts-that-will-change-your-perspective-of-ai-in-marketing/?sh=713a84fe2d03
Navarro, J. G. (2023, January 6). Benefits of using AI for marketing personalization worldwide 2018 L statistic. Statista. https://www.statista.com/statistics/915493/benefits-using-artificial-intelligence-marketing-personalization/
Lebow, S. (2023, August 4). 5 charts showing how marketers are thinking about generative AI now that the hype has passed. Insider Intelligence. https://www.insiderintelligence.com/content/5-charts-showing-how-marketers-thinking-about-generative-ai-now-that-hype-has-passed

Patryk Miszczak

Launch Profitable Sales Funnels

Every online business needs a repeatable and consistent sales process that converts their visitors into leads, customers, and advocates.

The post 67 AI Marketing Statistics 2023 [Adoption, Use Cases, Market Size] appeared first on businessolution.org.

32 Chat GPT Business Ideas 2023 [SaaS, Services & More]

Patryk Miszczak — Sat, 29 Jul 2023 08:33:45 +0000

32 Chat GPT Business Ideas 2023 [SaaS, Services & More]

Chat GPT is taking the online world by storm and it’s making people a lot of money.

In this article, I’ve put together a list of the 32 best Chat GPT business ideas.

We’ll go over some of the examples of AI tools you can create using Chat GPT and different services you can sell as a freelancer solopreneur.

So let’s jump straight in.

July 29, 2023
, AI

1. ChatGPT SaaS Business

Everyone knows that software companies are the best way to run a business since you only have to make the product once, and then you can sell it to millions of people.

But the reason most people haven’t started a software company is because, in the past, you had to have coding skills or hire a developer, which is a very expensive process.

But thanks to the development of no-code AI tools, that’s no longer the case.

Tools like Bubble help non-technical people build web apps, similar to how Shopify helps you build online stores without code.

With Bubble, you can build things like:

SaaS software
Marketplaces
Social networks

And more, all without a single line of code.

They have a free plugin that lets you connect the ChatGPT API to Bubble.

Then all you have to do is design the app for a specific niche use case, and you’re ready to accept payments and get customers.

So, if you have a great idea for an AI software product, you should definitely go for it. This is on doubt one of the best ways to start an AI business.

Pro Tip

Note: Keep in mind that building software requires some technical skills even when using Bubble. If you don’t have experience in these areas, you can outsource it on sites like Fiverr where people already offer web programming services.

2. ChatGPT Business Chatbot

This is one of the more common no code projects that a lot of people in the space are using. Services like Stack AI and CustomGPT.ai can be used to create chatbots that have predetermined question flows that point users to a part of the site.

Sometimes a chatbot might point the user to various links. It might answer some common questions like an FAQ section that user might have. It’s basically acting like a real human would.

Now evidently it’s not going to reflect the ChatGPT level talking unless you’re like a master AI programmer. But that’s okay because majority of site owners do not know how to use no code platforms like Stack AI or CustomGPT to make their chatbot.

If you have that skill and you know how to use the ChatGPT chatbot builders (there’s bunch of tutorials on YouTube on how to use it), you can use these skills and create your own chatbot and sell it to clients.

Once you understand the process of creating a chat bot, you can replicate it for any single site and sell it to the site owner. And the price for these chat bots can range from $2000 to $3,500.

3. Chrome Extension

If you’ve ever had an idea for a Google Chrome extension, now is your chance to bring this into reality with a little bit of prompt engineering.

Let’s go to ChatGPT and create a simple word counter. You can type in a prompt like:

“write the full code of the tool website that counts the number of words in a text area. Use HTML, CSS, and JS”

Once you have the code you can open Visual Studio code, create three files JavaScript, CSS, and HTML, and simply paste the code.

And we have a simple word counter tool.

This is how you can create software with Chat GPT.

You can also tell it to make the interface more interesting and user-friendly.

You could also sell mini JavaScript files on sites like Code Canyon.

I know a lot of people making thousands of dollars every single month selling JS files on Code Canyon.

4. API as a Service

The next Chat GPT business idea is to create an API and sell it for a monthly recurring membership. And what’s nice about this method is you can start with no investment required.

But first, what’s an API?

API is simply something that developers use to access data of their own operations through their code.

A simple example. If you want now to publish a post on Facebook, you need simply to go and up your mobile phone or your web browser, open Facebook and publish using the browser or the Facebook interface.

What if you are a developer and you want to access Facebook within your application with your own code? You will need to use the Facebook API. So simply API is like a broker.

It’s kind of like a middleman between you, the developer, and a certain service like Facebook or anything else. Now, you know what’s an API, let’s create one in seconds with Charge GPT.

Go up in Charge GPT and let’s test creating an API that generates codes so anyone can use it in their own applications. So here is the code.

You can copy it, open Visual Studio, create a controller, paste the code, and the API is up and running in less than 1 minute.

Now, you need to publish this API. For this, you can also ask Chat GPT where we can publish this for free. And here we have multiple options to start with like Microsoft Azure, AWS Lambda, or Google Cloud.

Okay, now, where to sell it?

Let’s ask Chat GPT. And here we have a lot of marketplaces where we can publish our API and sell it like Rapid API and much more.

You can even tell Chat GPT to rewrite the code in any programming language you want, like Node, JS, or Python, anything you want.

Awesome. Okay, it looks simple. It is. But the main problem is with the API idea. From where to get an idea that people will buy or developers will buy.

Well, you can get some ideas by looking at the top API marketplaces:

RapidAPI is a platform that enables developers to find and connect to thousands of APIs. It provides APIs in a variety of categories, including finance, business health, and media.
ProgrammableWeb is an API directory that provides information on APIs and the companies that provide them. It allows developers to search for APIs by category and provides testing and integration tools for APIs.
The Postman API Network is a collection of APIs from leading companies that are available for testing and integration. APIs from companies such as PayPal, Microsoft, and Google are included.

API as a Service ideas

Here are a few API as a service ideas that you could develop and sell:

A weather API that provides real-time weather data, including current conditions, forecasts, and historical data. Businesses, developers, and app creators could use this to provide weather-related information to their users.
An image recognition API that can identify and classify objects, scenes, and activities in pictures. Businesses and developers use this to create apps that can automatically identify and organize images, or to train machine learning models.
A social media API that allows developers to access data from various social media platforms, such as Facebook, Twitter, and Instagram. This could be used by businesses and developers to analyze social media activity, track metrics, or build social media marketing tools.
A location-based API that allows developers to access data related to geographical locations, such as maps, points of interest, and traffic information.
A payment API that allows developers to easily integrate various payment methods, such as credit cards, PayPal, and Apple Pay, into their apps and websites.
A voice and speech recognition API that allows developers to add voice-controlled capabilities to their apps and devices.
A natural language processing API that allows developers to add natural language understanding to their apps and devices.

5. AI Automated YouTube Channel

Take a look at how easy it’s now become to create an AI social media presence on almost any platform.

With Chat GPT you can create your own fully automated YouTube channel.

You can simply go to Chat GPT and type “Write me 1500 word YouTube video script about…”.

The only limitation here at the moment is that it cannot edit videos for you yet.

But a real powerful tool to use is Pictory AI which is an AI video generator that can create videos without having to produce any Actual footage or record your voice

Just simply copy your script into Pictory AI and push the script to video, which will turn this script into a full video with a b-roll.

And with this insane speed of creating content, you could literally be creating thousands of pieces of content every single day.

And it’s very obvious to me that if you’re a creator and you’re not going to be using AI in the future to actually create your content, you’re going to lose in the long term.

Pro Tip

If you want to learn more about starting an automated YouTube channel, there is no better training course on this topic than Tube Mastery and Monetization 2.0.

6. AI Social Media Marketing Agency

With social media platforms growing more and more year by year more businesses are in need of a social media presence as a result there’s increasing demand for social media management services.

If you choose this route you can offer your services directly to businesses and start an SMMA agency or create gigs on freelancing platforms like Fiverr or Upwork.

There are several ways in which ChatGPT can assist you. It can help you develop a content strategy and assist you in writing engaging social media posts and captions.

However, it’s important to remember that social media management also involves tasks such as choosing and editing images and responding to comments which will still require your personal touch.

7. Create a Course Using ChatGPT

So we have to talk about the transformation of education. People are buying courses and coaching programs online from experts that are kind of replacing the need, not completely the need for college, but a lot of people that don’t exactly know what to do with their life.

And this is becoming more and more true with really niche topics like learning the piano or audio engineering or blogging or these unique things that people can buy a $1000 course.

Let’s say we’re making a course on how to make butter. You could generate an entire list of all the steps for making butter and add your expertise by making some changes here and there to get a perfect write-up of the entire course.

And if you want to add some pictures of specific things for the course, you could get non-copyrighted images from MidJourney and ask it to create a stick of butter thrown into a pan.

And just like that, you’ll have a nice picture of butter in a pan.

By doing this, you’ll have an entire course you can sell on platforms like Kartra or ClickFunnels.

And there are thousands of people who are willing to pay for information instead of learning it themselves. Essentially, you’re capitalizing on the education you’re selling.

The key is kind of opening your eyes to this world and realizing that people are making millions of dollars a month selling courses.

So really it’s ultimately traffic plus a back-end sales funnel that equals a million-dollar business.

8. Start Print on Demand Store

The premise of this business model is creating niche stores on Etsy around specific topics that people are really interested in.

Your job in this business model is to create awesome art on mid-journey, which is an AI art generation tool, and then put it on some t-shirts or posters, and put it on your niche store on Etsy. Then use print-on-demand services to ship and create those products.

To get started, you first need to find a niche. A good keyword research tool for Etsy is called eRank, which lets you find low-competition keywords on Etsy.

Once pick up a niche and find keywords, you can head over to the MidJourney website, which is an AI art generation platform.

And all you need to do is use the prompts provided to start creating your own art.

Now that you’ve got a good piece of art that you think the people in your Niche will like, you now need to create an Etsy account and then connect that Etsy account to a Print-on-demand service like Printful.

Printful is an awesome print on demand that lets you put images on mugs, posters, t-shirts, and a whole bunch of other merch.

Printful has an integration that will allow you to directly connect to your Etsy store.

And then, you can start creating your different items and selling them on Etsy.

The reason why this is such a profitable and scalable business model is that Etsy brings all the traffic in and you are not having to market any of your stuff.

All you need to do is be hitting these right keywords, and then your stuff will be marketed to the right people who are searching for that kind of merch.

9. AI Personal Assistant

Now, the next is probably the most natural use case, and everyone really has, at the moment, an AI general assistant, whether that be Alexa or Siri, or even Bixby. The trick is going to be to niche down into a really thin-sliced market.

I mean, you don’t really want Siri giving you fitness advice. You need to train up a specialized language model for that niche and provide a clean user interface for your customers to use. You could train your AI model to specialize and offer coaching in fitness travel or finance.

Potential target audience would be individuals and businesses looking for digital assistants to help them manage their daily tasks.

10. AI YouTube Assistant

As we just learned, we can train AI models to actually model a real person, just like we modeled Graham Stefan in the last idea. Now, the more input that you give the AI model, the more accurate and smarter it will become.

With this in mind, there’s a huge task for YouTubers and content creators to respond to their fans. And normally if they’re big enough, they only get two or 3 seconds to say thank you to each comment.

But with a simple Chrome plugin powered by an AI model that learns your tone, your cadence, what you like to say, and how you’d normally respond to one of those comments.

It could assist you in generating really meaningful and thoughtful responses that you’re going to come in later and edit or reject or even just approve and have them post publicly to the website. And the best part is, it’ll be in your voice.

And the awesome thing about this app as well, the more feedback that you give it by approving or rejecting or editing comments, the AI is going to be learning and getting better and better with every single comment.

11. YouTube Optimizer

This application is another one focused on the booming creator industry. What you would essentially do is connect to the creator’s account via the YouTube API.

You’re then able to import the video analytics data so that you can start to provide insights much in the same way that we did with the e-commerce application.

You can build systems to dig through this data and provide Actionable Insights for the creator to improve their channel and continue their growth.

Now, I know that there are YouTube consultants that are charging thousands of dollars per month for this data analysis, so it should be a very easy sell if you can come in at a low price point with an offer like this.

12. Customer Service Chatbot

The chatbot for customer service is a type of AI-powered chatbot that is designed to assist customers with tasks such as answering frequently asked questions, providing information about products or services, and resolving issues.

To build a chatbot for customer service using chat GPT, you will need to train the model on a data set of customer inquiries and responses. This will allow the chatbot to understand the types of questions and issues that customers may have and provide appropriate responses.

The potential target audience for a chatbot for customer service is businesses in a variety of industries looking to improve their customer service. This could include eCommerce businesses, service-based businesses, and B2B companies.

13. Financial Planning App

The next idea is to create an app that is designed to assist with tasks such as budgeting, saving, and investing.

For example, you could train the ChatGPT model on the investing and budgeting philosophies of Graham Stefan by inputting his entire back catalog of videos and courses.

And then the AI will be able to monitor your spending patterns, bank accounts, investments, and provide you feedback on what are things you should do in order to hit your financial goal.

If you need inspiration for this type of app, you can check out fylehq.com.

It’s an expense management software that uses AI to accurately extracts and codes data from expense receipts.

14. Health & Wellness App

This ChatGPT business idea is all about creating a health app that is designed to assist with tasks such as tracking health metrics, providing health and wellness tips, and connecting users with healthcare providers.

A great example of such an app is cass.ai.

To train a model for this type of chatbot, you would need to train it on big data sources like patient medical records, hospital records, and medical exam results.

15. Personal Inbox Management Bot

This bot would use the Gmail API to connect to the user’s Gmail and then allow them to interact with it naturally. For example, a user could wake up in the morning, hop on the Chat GPT and ask, “give me a one line summary of all of the emails that came in overnight.”

From there, you could also allow them to easily respond to all of these so that they get all of their inbox management done in the morning.

Or you could provide them with some easy labeling feature that would essentially read all of their emails, determine what they’re about, and then label them with the correct label so that your inbox is all sorted and labeled correctly.

SaneBox is a tool that offers similar features.

16. Facebook Ads Assistant

Almost all businesses are using Facebook and Instagram ads through the Facebook ads manager right now. What this app would do is connect to the business owner’s Facebook ads manager via the marketing API, which is a product that Facebook allows people to use.

Now, once you have access to the performance data of all their ads, then you can do a number of different things such as data analysis or turning on and off campaigns and ad sets, or even suggesting new campaigns to run.

If you created this app so you knew how to run Facebook ads profitably, this would be enormously valuable because, suddenly, a business owner can run their own ads through ChatGPT instead of having to outsource it to a marketing agency and paying thousands of dollars a month.

17. AI Crypto Trader Assistant Bot

This product will be created for crypto traders and crypto investors in order to give them access to real-time financial information in a more accessible way.

There are thousands and thousands of tokens across the crypto market. So for someone looking to trade or invest, being able to essentially filter through these different coins and figure out which ones meet the criteria would be hugely valuable.

For example, someone may want to search, what coins have been down 50 % over the past three months? What you could then do is use the coinmarketcap API to search for any tokens that meet that criteria and then give it back to the users nice and quick.

18. Real Estate Assistant

This is very similar to the crypto app in that you are accessing the entire market’s worth of information but making it easily accessible through chat interfaces.

For example, someone could enter the area, the budget, and the house size of what they’re looking for into the chatbot, and it would search for it within the that Zillow or other realtors provide.

Then it could easily provide them with all of the houses that match that search.

This would be such a game changer because instead of having to manually set up filters and preferences and filter through all these different properties, you could just search it with a natural language prompt and get back the houses that you want.

19. Personal Coaching App

This plugin would be perfect for people with a coaching business so that they’re able to take all of the knowledge and all of the information that they regularly teach their students and make it available to a chatbot through a custom knowledge base.

This is essentially making a plugin version so that people can sell it as part of their coaching package.

People with coaching businesses could load all their information into this plugin, and then all of their students could get one on one access and 24/7 assistance in the coaching program from this custom chat out.

20. Ecommerce Data Analysis Assistant

his application would allow owners of Shopify stores to essentially connect to their Shopify account and use the Shopify API to import all of their information, and all of their sales data and then be able to provide insights to the customer through ChatGPT.

Once you have access to this data, you can then provide custom reporting, or you could allow the e-commerce store owner to pull insights out of that data in a new way.

From these insights, they’re able to make better decisions about how they run their business.

Ecommerce is a huge business and store owners typically have a lot of money to invest in anything that’s going to help them make more money or make their lives easier.

21. Inventory Scanner

A cornerstone of the ecommerce store owner space is being able to purchase their target products at bulk.

Now there are inventory checking sites out there right now, but it’s usually one site sometimes that you usually have to pay for that checks for Walmart and another site that checks inventory for Amazon products, another site that checks inventory for Best Buy products.

But it’s hard for a store owner to get their hands on an all in one platform where they can check a bunch of companies inventories all in one place.

So creating an all in one scanner that takes in the link of a product and scans each of these stores will be extremely beneficial to a consumer.

And this can be done with very minimal coding knowledge. All you have to do is be able to understand how to use an HTTP get request, which is a very simple thing that you can figure out just by looking the tutorial on YouTube below, and use it to ping each of these sites and check their inventory.

And most site security is low enough where if you ping the site every ten minutes, they will not flag you nor block your account.

And the best part is that this service is something that’s need to be done on a weekly basis, sometimes even a monthly basis.

22. AI Email Newsletter Generator

Email newsletter is crucial for a lot of influencers and anyone who has some sort of email list or is building one.

This is where you can use ChatGPT, Midjourney and other AI tools to create beautiful image as well as text that you can put in an email.

If you’re able to link these services together in an all in one AI email newsletter automation app, you can essentially start creating emails that you can send to subscribers for influencers and you can sell this system to various influencers.

And like I said, anyone who has any sort of newsletter, since you are cutting down time and actually writing these paragraphs, subject lines, creating beautiful images in the newsletter, you’re minimizing all the time needed for that, an influencer will have to put.

The best part is newsletter vary in size and some newsletters are very small, some are very big. So if you’re able to find the right client who has a healthy sized newsletter, they will purchase your newsletter AI system immediately.

23. Entertainment App

The next idea is to create an app that provides recommendations and information about movies, TV shows, music, and other forms of entertainment.

To train a model for this type of app, you would need a large dataset of entertainment information, such as movie and TV show reviews, music recommendations, and information about upcoming events.

For example, a dataset could include phrases such as “what are the best movies of the year,” “what are the top 10 songs on the Billboard Hot 100,” and “what are the must-see shows on Broadway.”

24. Digital Replicas

There’s a website called character.ai where you can try and train a language model to represent anyone in the world, whether that’s someone alive like Elon Musk or even someone dead like Benjamin Franklin.

You could turn them into a 3D augmented reality experience with AI models that I could actually interact with.

Tony Robbins has been working on this behind the scenes as the magnum opus of his life work.

An AI language model that knows everything that he knows and has the technology and ability to scale to the point where he can have his teachings given out in the form of a Tony Robbins personal coach for everybody around the world.

25. Transcribing App

There are websites like scribie.com that literally pay for transcribing content from videos or registrations so the demand is there.

And in fact, if you navigate through Scibie’s website you’ll see many services. For example transcribing meetings, speeches, dissertations, and so on.

So you could think about creating an app and using the API from open AI to use the whisper service in your application. Whisper is another service from OpenAI.

There is a little more work involved here but I think it’s really worth worthy to understand how to integrate the API into an app and also how to build a front-end app because this API has so much to offer.

26. AI Travel App

There are AI travel apps that can help you with tasks such as booking flights and hotels, finding travel deals, and providing recommendations for things to do and see in a destination.

One of these apps is Emma.ai which automatically gives you travel time and journey information directly in your calendar, for customer appointments and meetings.

The app lets you manage your calendar with a buffer time feature and appointment booking function.

They train their models on a large dataset of travel information, such as flight and hotel bookings, travel deals, and recommendations for things to do and see in a destination.

27. News & Information App

To create a ChatGPT-based news and information app, you would need to gather a large dataset of news articles and other relevant information on a variety of topics like articles from reputable news sources, as well as information from other sources such as government websites, industry reports, and expert analysis depending on your niche.

You would also need to train a ChatGPT model on this dataset, fine-tuning it to understand and respond to natural language queries and commands related to news and information.

Your model should be able to understand and answer questions such as “What is the latest news on the coronavirus in India”, “What happened with the stock market today” and “What is the current situation in the Middle East”.

For this, I’d recommend starting in a smaller niche instead of creating a news app that tries to cover everything.

28. AI Streaming Service

If you’ve been following live streams lately, you may have heard about the AI live streamer called Neurosama who is essentially an anime girl who plays video games like Minecraft and OSU.

At the same time, she interacts with chat, cracks jokes, and learns from the information she processes using machine learning technology. It’s pretty impressive.

Now, here’s the thing. If you want to create a similar AI streamer, it can be quite challenging. I’m not aware of any specific tools that are available for the public. If such a tool existed, I’m sure everyone would be using it.

But if you can figure out a way to program something like this or create a similar tool, you could potentially sell these AI streamers as a business.

You can offer the entire coding to create an entire AI streamer, run it on your servers, and sell it to companies for a monthly fee.

This could be very enticing for companies that don’t have coding knowledge and want to enter the streaming space. Or you could run 10 to 20 AI streamers or figure out other ways to make AI content.

29. AI Influencer Marketing

Next, you can even create AI Instagram influencers. In fact, the face behind Pacsun is a digital influencer that doesn’t even exist, yet she has almost 3 million followers on Instagram.

And imagine for companies looking to hire models or influencers to promote their pages, using an AI influencer is a win-win situation. They don’t age, work hard, and have no liabilities in terms of getting sued.

If you can create some of these AI influencers and market them to companies, you could make a hefty bag.

30. Copywriting Services

Selling copywriting services is the most obvious Chat GPT business idea but at the same time the most competitive one because everyone can do that. But it may still work as it works for many freelancers worldwide as you can see in a moment.

Here are some of the copywriting services you can sell:

Blog writing
Product description
Website copy
Sales copy
Proofreading

And all these services are highly profitable and people are willing to pay you for them.

The human brain has limitations but now you don’t have any limitations and you have a real competitive edge and that is thanks to this artificial intelligence.

You can provide multiple different services at once on freelancer websites.

So let’s just take the example of blog writing on Fiverr.

So as you can see these people are already making a lot of money selling this service.

But again, the key is to find a specific niche as it is with almost all of these Chat GPT business ideas.

31. Coding Services

As you’ve just seen ChatGPT creates code for an app or Google Chrome extension so it can create code and it can correct it as well.

And coding is in extremely high demand businesses and entrepreneurs are willing to pay vast sums of money to anybody who is able to provide this service and do a very very good job of it.

And now you have another unfair Advantage you have ChatGPT to do all the work for you.

It’s just about utilizing the freelancer websites and advertising yourself there as a professional coder.

Give it some time to get some clients together, produce some quality work using chat GPT and then from there you just scale and build.

32. Transcription Services

The last business you can start with Chat GPT is offering translation services. If you’re bilingual or have basic knowledge of a second language this business is perfect for you.

I personally speak Polish so I’ve tested Chat GPT to see how well it can translate in my experience it produced an excellent translation.

Maybe there were some words here and there that needed to be adjusted but overall it did a great job.

So if you know more than one language definitely give this business a try as it can earn you great money and potentially replace your current job

Chat GPT Business Ideas Final Words

So these are the best chat GPT business ideas you can try. AI-driven businesses are proliferating and the opportunities for entrepreneurs to leverage on this technology are vast.

ChatGPT has the potential to revolutionize existing industries, create new ones, and provide highly personalized services to consumers.

If you’re looking to start your own business, consider incorporating ChatGPT into your business model and applying it in innovative ways. As the technology continues to evolve rapidly, so too will the potential applications of AI in different industries and markets.

Patryk Miszczak

Launch Profitable Sales Funnels

Every online business needs a repeatable and consistent sales process that converts their visitors into leads, customers, and advocates.

The post 32 Chat GPT Business Ideas 2023 [SaaS, Services & More] appeared first on businessolution.org.

AI in Education Statistics 2023 [Adoption, Benefits, Challenges]

Patryk Miszczak — Sun, 16 Jul 2023 10:03:53 +0000

AI in Education Statistics 2023 [Adoption, Benefits, Challenges]

As the educational landscape continues to evolve, the integration of artificial intelligence (AI) has made a significant impact on the way we teach and learn.

In this article, we will delve into the latest trends and statistics surrounding AI in education, offering valuable insights into its impact on classrooms, institutions, and learners.

From the adoption rates of AI-powered tools to the perspectives of educators on their transformative potential, we will present a detailed analysis of the numbers that shape the future of education.

July 16, 2023
, AI

Top AI Statistics in Education

43% of college students in the US admit to using AI tools such as ChatGPT.
50% of those who have used AI tools say they did so to complete assignments or exams. This accounts for 22% of all college students surveyed.
67% of secondary school students in the United Kingdom use AI for their projects and homework.
90% of learners who use ChatGPT for their studies consider it better than tutoring.
86% of instructors believe that technology, particularly AI, should be an essential part of the classroom experience.
39% of schools are thinking about using AI but haven’t started making concrete plans just yet.
66% of schools cite market disruption as a primary reason for embracing AI.
AI is used by half of instructors to create their own lessons.
Helpful suggestions for learners with an accuracy rate of 80%, comparable to that of human experts.
AI-enhanced chatbots gave students individualized support and advice with 91% accuracy.
Using adaptive learning, students improved their test results by 62%.
The use of AI increased student performance by 30% while decreasing anxiety by 20%.
209 educational institutions that have implemented OpenAI technology.
In the next three years, artificial intelligence will underpin more than 47 percent of LMSs.
The AI Teaching Assistant Responds to 10,000 Messages Per Semester, Successfully Handling 97% of Them.
With an 80% success rate, AI can now predict a student’s final grade, preventing the failure of 34,712 individuals.
As a result of the use of AI in education, 95% of graduates who have hearing impairments are effectively employed.
Teachers can reduce the amount of time they spend grading assignments by 70% by using an artificial intelligence-powered grading tool.
Over the next three years, AI will be the driving force behind almost half of all learning management systems.
More than 34,700 failing pupils were spotted and saved because of AI grade prediction technology.
In comparison to female pupils, male pupils are more likely to employ AI.
About 25% of people think Google is the best-qualified corporation to provide AI robotic solutions for the education sector.

Market Size of AI in Education

The size of the worldwide market for artificial intelligence in education was estimated at USD 2.48 billion in 2022 and is anticipated to soar to USD 53.68 billion by 2032, expanding at a remarkable CAGR of 36.0% throughout this projection period (Market.us)

The global AI market in education has experienced remarkable growth and is expected to continue its upward trajectory in the coming years. According to recent market research, the sector was valued at USD 2.48 billion in 2022. However, the projections for the future are even more impressive, with an estimated value of USD 53.68 billion by 2032. The anticipated compound annual growth rate (CAGR) for the AI in education market during this forecast period is a staggering 36.0%.

It is anticipated that the value of the worldwide market for AI in education will expand at a compound annual growth rate of nearly 45% between 2022 and 2030 (Global Market Insights)

This expansion may be attributed to rising ed-tech and AI investments, a sharp rise in digital data, expanding collaborations with curriculum providers, and rising cloud-based service usage.

While this is encouraging, there are still barriers to using AI in the classroom, including concerns about student privacy and a shortage of trained personnel.

There is an anticipated $80 billion worldwide market for AI in this industry by the end of the projection period (2030).

The Impact of AI on Education

The impact of AI on education can vary, you know? Educators have different opinions on it, some think it’s really positive, while others are a bit more skeptical. Some people think AI has the potential to make personalized learning better and automate tasks, but others worry about what it could mean and the biases it might have.

31% of educators expressed a somewhat negative view towards the impact of AI in teaching and learning, among other perspectives shared by over two dozen participants (EdWeek)

In a survey conducted with 863 teachers, principals, and district leaders, over two dozen educators shared their perspectives on how AI would impact teaching and learning. While some expressed excitement about AI’s potential to enhance personalized learning and automate administrative tasks, others raised concerns about ethical implications and potential biases. The responses reflected a mix of enthusiasm and caution, highlighting the growing interest in leveraging AI to transform education.

Accelerated AI Adoption in Education

AI adoption in education is really taking off! More and more schools are realizing how awesome AI can be for teaching and learning. It’s exciting to see the potential it has to transform education. Educators are using AI more and more these days. It helps them customize instruction, make administrative tasks easier, and give them data-driven insights.

The education sector comprises a total of 209 institutions that have implemented OpenAI technology (Enterprise Apps Today)

Many different industries use OpenAI in their operational procedures. According to the aforementioned graphic, OpenAI data revealed that the technology industry has the greatest number of businesses using the software. While it’s apparent that 209 educational institutions use OpenAI.

Applications of AI in Education

With intelligent tutoring systems and data analytics, AI can help improve instruction and make decisions based on data. It’s all about using technology to make education even more awesome! The way education is advancing, these days is really exciting! It’s going to completely change the way we teach and learn, making education more inclusive and effective for everyone.

In the UK, 67% of secondary school students utilize AI for their projects and homework (CryptoPolitan)

According to recent data, a significant proportion of secondary school students in the United Kingdom, specifically 67%, employ artificial intelligence (AI) technology, such as research tools, to assist them with their homework and assignments, including all forms of academic work, such as completing math problems rapidly and writing essays.

About 50% of educators claim to include generative AI in their lesson plans (EdWeek)

Educators are employing artificial intelligence to a similar extent as their students. This encompasses the process of collecting pertinent background information and generating compelling ideas for instructional sessions.

Benefits of AI in Education

AI in education is super cool and has so many awesome benefits! It’s great because it personalizes learning, takes care of tasks automatically, and gives you data-driven insights to make informed decisions. When we use AI, education gets better at helping everyone learn in their own way. It becomes more efficient, inclusive, and personalized for each student.

68% of pupils who utilize AI consider it to be responsible for an improvement in their academic performance (CryptoPolitan)

Do you think AI is simply the next step in the evolution of education, considering how the internet has provided students with extensive information for the past couple of decades? The proof may be whether or not improved grades materialize into higher exam scores and genuine understanding.

The accuracy of academic AI support may be up to 80% that of human educator support (Stanford)

Academic inquiries are harder for assistance bots to answer. Virtual courses and LMSs allow students to study at their own pace more and more; therefore, virtual instructors are the natural next step.

A Stanford research team’s AI algorithm was once shown to be 80% exactly the same as a human educator in making suggestions to students who required academic assistance.

Teachers that use AI marking tools cut their time spent grading assignments by up to 70 percent (DataMation)

When teachers have fewer responsibilities outside of the classroom, they have more time to dedicate to the instruction of their pupils. This is the idea underlying AI-powered grading solutions, which promise to cut the time required for manually assessing assignments by 70%.

The younger generation of people is more inclined to think that artificial intelligence will have a favorable impact on K-12 education than older generations (YouGov)

When it comes to how K-12 schools should deal with AI, Americans are way more into the idea of schools teaching students how to use AI properly than they are into the idea of schools stopping students from using AI. Despite the fact that younger adults are pretty optimistic about AI in schools, they’re actually more inclined than older folks to support the idea of stopping students from employing AI.

Challenges of AI in Education

AI in education has some challenges, like data privacy, algorithmic biases, and finding the right balance between automation and human interaction. Educators need training to use AI tools effectively, right? It’s important to overcome these challenges to make the most of AI and keep education ethical and human-centered.

The absence of a defined plan, according to 50% of educational institutions, prevents them from using AI (HolonIQ)

According to 50% of respondents in a recent poll of educational institutions, the main barrier to adopting AI was the absence of a clear implementation plan.

Without a doubt, technology can assist teachers in doing what they do best—educating students—more effectively and efficiently. However, if there is not clear advice on how educational institutions throughout the world may make the most of technology to improve student performance, we are unlikely to see its full potential fulfilled in educational institutions.

66% of students are concerned about the effect that AI will have on their future professions (EdWeek)

A poll of people between the ages of 13 and 17 found that these young people are concerned that artificial intelligence will make it more difficult for them to acquire a job in the future, despite the fact that students and even instructors are welcoming AI into the classroom. Considering this trend of AI taking over occupations, thirty percent of respondents said that they were “extremely” or “very” worried about this issue.

A survey conducted in the UK found that 38% of secondary school pupils felt guilty about utilizing artificial intelligence (CryptoPolitan)

Using well-known AI technologies comes with a certain kind of social stigma. That much is certain. In fact, 38 percent of students say they feel guilty about using them, and 36 percent are concerned that they will miss out on authentic educational opportunities. Nevertheless, if their grades improve, they will use it again in the future.

36% of students in higher education report that they have been threatened with failure if they are detected utilizing artificial intelligence in an unethical manner (ComputerWorld)

There is always the possibility that teachers may fail their pupils, yet sixty percent of college students do not want artificial intelligence chatbots to be completely prohibited from use.

The use of artificial intelligence writing tools for academics is seen as cheating by 78% of parents (TurnItIn)

A poll conducted in the United States with over 1,000 parents indicated that the vast majority of respondents did not want their children to use artificial intelligence-generated material for schooling and that they believed detection mechanisms should be implemented. For 45% of respondents, the usage of AI in ways that schools could find objectionable is something they are themselves cognizant of.

Future of Artificial Intelligence in Education

Oh, definitely! The future of AI in education looks really promising. It’s going to bring personalized learning experiences, make administrative tasks easier, and provide data-driven insights to help make better decisions. AI has the potential to make education way better for everyone involved – teachers and students included. It can help make education more inclusive, efficient, and effective.

By 2027, it is anticipated that the market for artificial intelligence education will hit $20 billion (Global Market Insights)

The market for AI-based educational technologies is now seeing rapid expansion, and some examples of these technologies include learning management platforms, intelligent tutoring systems, and smart gadgets. By 2027, it is anticipated that it would reach $20 billion.

By the year 2024, artificial intelligence will be included in almost half of all LMSs (Forbes)

For many years, learning management systems, or LMSs, have played a significant role in academic organizations and professional development initiatives. Nevertheless, AI LMS systems are further simplifying how learners are handled, and it is delivering curriculum with a more customized touch.

A significant proportion of respondents, specifically 64%, hold the belief that chatbots, robots, or artificial intelligence have the potential to supplant educators in the forthcoming years (Tidio)

Approximately 64% of the participants hold the belief that artificial intelligence (AI) has the potential to supplant human educators in the future. However, a significant proportion of individuals, specifically 39%, express concerns regarding the ability of artificial intelligence (AI) to accurately identify and appreciate distinctive abilities, thereby failing to motivate students who deviate from conventional norms or patterns. Empathy and proficient listening skills have been identified as paramount attributes of an exceptional educator, according to the prevailing consensus. Replacing them with a software application can pose challenges.

Conclusion

AI is really changing the way we teach and learn in education. AI-powered tools are pretty cool. They can give you personalized learning experiences, take care of all those boring administrative tasks, and even give you insights based on data. It’s like having your own little helper!

It’s really exciting to see how quickly the market for AI in education is growing. It’s a clear sign that AI has the potential to completely transform the industry.

We definitely need to tackle challenges like data privacy and algorithmic biases. They’re important issues that need to be addressed. Even though there are some challenges, the future of AI in education seems really promising. It has the potential to make teaching and learning more efficient, inclusive, and effective. It’s really important to approach AI implementation responsibly and make sure we use its benefits to help everyone involved in education.

References

Adoption of AI in education is accelerating. Massive potential but big hurdles remain. (2019, March 30). HolonIQ. Global Impact Intelligence. https://www.holoniq.com/notes/ai-potential-adoption-and-barriers-in-global-education
Artificial intelligence in education. 2023 survey insights. (2023, February 27). HolonIQ. Global Impact Intelligence. https://www.holoniq.com/notes/artificial-intelligence-in-education-2023-survey-insights
AI in education market is forecast to reach USD 53.68 Bn by 2032. (2023, April 10). Enterprise Apps Today. https://www.enterpriseappstoday.com/news/ai-in-education-market-is-forecast-to-reach-a-whopping-usd-53-68-billion-by-2032.html
ErweijV, A. (2022, January 6). 5 AI trends changing education in 2022. EDGEucating. https://edgeucating.com/5-artificial-intelligence-trends-in-education-in-2022/
Bryant, J., Heitz, C., Sanghvi, S., & Wagle, D. (2020, January 14). How artificial intelligence will impact K-12 teachers. McKinsey & Company. https://www.mckinsey.com/industries/education/our-insights/how-artificial-intelligence-will-impact-k-12-teachers
Karandish, D. (2021, June 23). 7 benefits of AI in education — THE journal. THE Journal. https://thejournal.com/articles/2021/06/23/7-benefits-of-ai-in-education.aspx
Verma, N. (2023, February 9). How effective is AI in education? 10 case studies and examples. Axon Park. https://axonpark.com/how-effective-is-ai-in-education-10-case-studies-and-examples/
Sheikh, A. (2023, June 23). 67% of UK Students Use AI Tools, Survey Results Show Positive Responses. Cryptopolitan. https://www.cryptopolitan.com/67-percent-uk-students-use-ai-tools/
Crockett, E. (2023, March 14). AI in education: The future of teaching. Datamation. https://www.datamation.com/artificial-intelligence/how-ai-is-being-used-in-education/
Prothero, A. (2023, March 24). ChatGPT is all the rage. But teens have qualms about AI. Education Week. https://www.edweek.org/technology/chatgpt-is-all-the-rage-but-teens-have-qualms-about-ai/2023/03
Global Market Insights Inc. (2021, June 23). AI in education market revenue to cross $20B by 2027; Global market insights, Inc. https://www.prnewswire.com/news-releases/ai-in-education-market-revenue-to-cross-20b-by-2027-global-market-insights-inc-301318889.html
Welding, L. (2023, March 27). Half of college students say using AI is cheating | BestColleges. BestColleges.com. https://www.bestcolleges.com/research/college-students-ai-tools-survey/
Andrews, E. L. (2021, June 12). Using artificial intelligence to understand why students are struggling. Stanford HAI. https://hai.stanford.edu/news/using-artificial-intelligence-understand-why-students-are-struggling
Orth, T. (2023, April 21). Most Americans think schools should teach students to use AI appropriately, rather than banning it. YouGov | What the world thinks. https://today.yougov.com/topics/technology/articles-reports/2023/04/20/most-think-schools-should-teach-about-ai-poll
Elad, B. (2023, May 21). OpenAI statistics – Products, revenue and growth. Enterprise Apps Today. https://www.enterpriseappstoday.com/stats/openai-statistics.html
Langreo, L. (2023, April 14). What educators think about using AI in schools. Education Week. https://www.edweek.org/technology/what-educators-think-about-using-ai-in-schools/2023/04
Adamson, D. (2023, April 16). Survey results highlight parents’ thoughts on AI writing, like ChatGPT, in education. Turnitin. https://www.turnitin.com/blog/survey-results-highlight-parents-thoughts-on-ai-writing-in-education
Mearian, L. (2023, April 25). Schools look to ban ChatGPT, students use it anyway. Computerworld. https://www.computerworld.com/article/3694195/schools-look-to-ban-chatgpt-students-use-it-anyway.html
(n.d.). Forbes. https://www.forbes.com/sites/cognitiveworld/2019/07/12/ai-applications-in-education/?sh=4661c21662a3
Rajnerowicz, K. (2023, February 1). AI in education: Will tech destroy education or save it? Tidio. https://www.tidio.com/blog/ai-in-education/

As the educational landscape continues to evolve, the integration of artificial intelligence (AI) has become a game-changer, revolutionizing the way we teach and learn.

So, curious about the latest trends and statistics surrounding AI in education? Look no further!

In this article, we will delve into the latest trends and statistics surrounding AI in education, offering valuable insights into its impact on classrooms, institutions, and learners. From the adoption rates of AI-powered tools to the perspectives of educators on their transformative potential, we will present a detailed analysis of the numbers that shape the future of education. So, fasten your seatbelts as we embark on this exciting data-driven journey, unraveling the fascinating world of AI in education and uncovering the statistical landscape of 2023!

Contents

Top AI Statistics in Education
Market Size of AI in Education
The Impact of AI in Education
Accelerated AI Adoption in Education
Applications of AI in Education
Benefits of AI in Education
Challenges of AI in Education
Future of AI in Education

Top AI Statistics in Education

Helpful suggestions for learners with an accuracy rate of 80%, comparable to that of human experts.
AI-enhanced chatbots gave students individualized support and advice with 91% accuracy.
Using adaptive learning, students improved their test results by 62%.
The use of AI increased student performance by 30% while decreasing anxiety by 20%.
In the next three years, artificial intelligence will underpin more than 47 percent of LMSs.
The AI Teaching Assistant Responds to 10,000 Messages Per Semester, Successfully Handling 97% of Them.
With an 80% success rate, AI can now predict a student’s final grade, preventing the failure of 34,712 individuals.
As a result of the use of AI in education, 95% of graduates who have hearing impairments are effectively employed.
Teachers can reduce the amount of time they spend grading assignments by 70% by using an artificial intelligence-powered grading tool.
Over the next three years, AI will be the driving force behind almost half of all learning management systems.
In only 2.7 seconds, an AI-powered chatbot can answer a student’s query.
86% of instructors believe that technology, particularly AI, should be an essential part of the classroom experience.
39% of schools are thinking about using AI but haven’t started making concrete plans just yet.
66% of schools cite market disruption as a primary reason for embracing AI.
The use of ChatGPT and other AI study aids is acknowledged by 43% of college students in the US.
90% of learners who use ChatGPT for their studies consider it better than tutoring.
AI is used by half of instructors to create their own lessons.
More than 34,700 failing pupils were spotted and saved because of AI grade prediction technology.
In comparison to female pupils, male pupils are more likely to employ AI.
About 25% of people think Google is the best-qualified corporation to provide AI robotic solutions for the education sector.

Market size of AI in Education

It is anticipated that the value of the worldwide market for AI in education will expand at a compound annual growth rate of nearly 45% between 2022 and 2030 (Global Market Insights)

This expansion may be attributed to rising ed-tech and AI investments, a sharp rise in digital data, expanding collaborations with curriculum providers, and rising cloud-based service usage.

While this is encouraging, there are still barriers to using AI in the classroom, including concerns about student privacy and a shortage of trained personnel.

There is an anticipated $80 billion worldwide market for AI in this industry by the end of the projection period (2030).

The Impact of AI in Education

The impact of AI in education can vary, you know? Educators have different opinions on it, some think it’s really positive, while others are a bit more skeptical. Some people think AI has the potential to make personalized learning better and automate tasks, but others worry about what it could mean and the biases it might have.

31% of educators expressed a somewhat negative view towards the impact of AI in teaching and learning, among other perspectives shared by over two dozen participants (EdWeek)

Accelerated AI Adoption in Education

The education sector comprises a total of 209 institutions that have implemented OpenAI technology (Enterprise Apps Today)

Applications of AI in Education

With intelligent tutoring systems and data analytics, AI can help improve instruction and make decisions based on data. It’s all about using technology to make education even more awesome! The way education is advancing these days is really exciting! It’s going to completely change the way we teach and learn, making education more inclusive and effective for everyone.

In the UK, 67% of secondary school students utilise AI for their projects and homework (CryptoPolitan)

According to recent data, a significant proportion of secondary school students in the United Kingdom, specifically 67%, employ artificial intelligence (AI) technology to assist them with their homework and assignments, including all forms of academic work, such as completing math problems rapidly and writing essays.

About 50% of educators claim to include generative AI into their lesson plans (EdWeek)

Benefits of AI in Education

68% of pupils who utilize AI consider it to be responsible for an improvement in their academic performance (CryptoPolitan)

Do you think AI is simply the next step in the evolution of education, considering how the internet has provided students with extensive information for the past couple of decades? The proof may be whether or not improved grades materialise into higher exam scores and genuine understanding.

The accuracy of academic AI support may be up to 80% that of human educator support (Stanford)

A Stanford research team’s AI algorithm was once shown to be 80% exactly the same as a human educator in making suggestions to students who required academic assistance.

Teachers that use AI marking tools cut their time spent grading assignments by up to 70 percent (DataMation)

The younger generation of people is more inclined to think that artificial intelligence will have a favorable impact on K-12 education than older generations (YouGov)

Challenges of AI in Education

The absence of a defined plan, according to 50% of educational institutions, prevents them from using AI (HolonIQ)

According to 50% of respondents in a recent poll of educational institutions, the main barrier to adopting AI was the absence of a clear implementation plan.

66% of students are concerned about the effect that AI will have on their future professions (EdWeek)

A survey conducted in the UK found that 38% of secondary school pupils felt guilty about utilizing artificial intelligence (CryptoPolitan)

36% of students in higher education report that they have been threatened with failure if they are detected utilizing artificial intelligence in an unethical manner (ComputerWorld)

There is always the possibility that teachers may fail their pupils, yet sixty percent of college students do not want artificial intelligence chatbots to be completely prohibited from use.

The use of artificial intelligence writing tools for academics is seen as cheating by 78% of parents (TurnItIn)

Future of Artificial Intelligence in Education

By 2027, it is anticipated that the market for artificial intelligence education will hit $20 billion (Global Market Insights)

By the year 2024, artificial intelligence will be included in almost half of all LMSs (Forbes)

For many years, learning management systems (LMSs) have played a significant role in academic organizations and professional development initiatives. Nevertheless, AI is further simplifying how learners are handled, and it is delivering curriculum with a more customized touch.

Conclusion

So basically, AI is really changing the way we teach and learn in education. AI-powered tools are pretty cool! They can give you personalized learning experiences, take care of all those boring administrative tasks, and even give you insights based on data. It’s like having your own little helper!

Wow, it’s really exciting to see how quickly the market for AI in education is growing! It’s a clear sign that AI has the potential to completely transform the industry.

Yeah, we definitely need to tackle challenges like data privacy and algorithmic biases. They’re important issues that need to be addressed. Yeah, even though there are some challenges, the future of AI in education seems really promising. It has the potential to make teaching and learning more efficient, inclusive, and effective. It’s really important to approach AI implementation responsibly and make sure we use its benefits to help everyone involved in education.

References

Adoption of AI in education is accelerating. Massive potential but big hurdles remain. (2019, March 30). HolonIQ. Global Impact Intelligence. https://www.holoniq.com/notes/ai-potential-adoption-and-barriers-in-global-education
Artificial intelligence in education. 2023 survey insights. (2023, February 27). HolonIQ. Global Impact Intelligence. https://www.holoniq.com/notes/artificial-intelligence-in-education-2023-survey-insights
AI in education market is forecast to reach USD 53.68 Bn by 2032. (2023, April 10). Enterprise Apps Today. https://www.enterpriseappstoday.com/news/ai-in-education-market-is-forecast-to-reach-a-whopping-usd-53-68-billion-by-2032.html
ErweijV, A. (2022, January 6). 5 AI trends changing education in 2022. EDGEucating. https://edgeucating.com/5-artificial-intelligence-trends-in-education-in-2022/
Bryant, J., Heitz, C., Sanghvi, S., & Wagle, D. (2020, January 14). How artificial intelligence will impact K-12 teachers. McKinsey & Company. https://www.mckinsey.com/industries/education/our-insights/how-artificial-intelligence-will-impact-k-12-teachers
Karandish, D. (2021, June 23). 7 benefits of AI in education — THE journal. THE Journal. https://thejournal.com/articles/2021/06/23/7-benefits-of-ai-in-education.aspx
Verma, N. (2023, February 9). How effective is AI in education? 10 case studies and examples. Axon Park. https://axonpark.com/how-effective-is-ai-in-education-10-case-studies-and-examples/
Sheikh, A. (2023, June 23). 67% of UK Students Use AI Tools, Survey Results Show Positive Responses. Cryptopolitan. https://www.cryptopolitan.com/67-percent-uk-students-use-ai-tools/
Crockett, E. (2023, March 14). AI in education: The future of teaching. Datamation. https://www.datamation.com/artificial-intelligence/how-ai-is-being-used-in-education/
Prothero, A. (2023, March 24). ChatGPT is all the rage. But teens have qualms about AI. Education Week. https://www.edweek.org/technology/chatgpt-is-all-the-rage-but-teens-have-qualms-about-ai/2023/03
Global Market Insights Inc. (2021, June 23). AI in education market revenue to cross $20B by 2027; Global market insights, Inc. https://www.prnewswire.com/news-releases/ai-in-education-market-revenue-to-cross-20b-by-2027-global-market-insights-inc-301318889.html
Welding, L. (2023, March 27). Half of college students say using AI is cheating | BestColleges. BestColleges.com. https://www.bestcolleges.com/research/college-students-ai-tools-survey/
Andrews, E. L. (2021, June 12). Using artificial intelligence to understand why students are struggling. Stanford HAI. https://hai.stanford.edu/news/using-artificial-intelligence-understand-why-students-are-struggling
Orth, T. (2023, April 21). Most Americans think schools should teach students to use AI appropriately, rather than banning it. YouGov | What the world thinks. https://today.yougov.com/topics/technology/articles-reports/2023/04/20/most-think-schools-should-teach-about-ai-poll
Elad, B. (2023, May 21). OpenAI statistics – Products, revenue and growth. Enterprise Apps Today. https://www.enterpriseappstoday.com/stats/openai-statistics.html
Langreo, L. (2023, April 14). What educators think about using AI in schools. Education Week. https://www.edweek.org/technology/what-educators-think-about-using-ai-in-schools/2023/04
Adamson, D. (2023, April 16). Survey results highlight parents’ thoughts on AI writing, like ChatGPT, in education. Turnitin. https://www.turnitin.com/blog/survey-results-highlight-parents-thoughts-on-ai-writing-in-education
Mearian, L. (2023, April 25). Schools look to ban ChatGPT, students use it anyway. Computerworld. https://www.computerworld.com/article/3694195/schools-look-to-ban-chatgpt-students-use-it-anyway.html
(n.d.). Forbes. https://www.forbes.com/sites/cognitiveworld/2019/07/12/ai-applications-in-education/?sh=4661c21662a3
Rajnerowicz, K. (2023, February 1). AI in education: Will tech destroy education or save it? Tidio. https://www.tidio.com/blog/ai-in-education/

Patryk Miszczak

Launch Profitable Sales Funnels

Every online business needs a repeatable and consistent sales process that converts their visitors into leads, customers, and advocates.

The post AI in Education Statistics 2023 [Adoption, Benefits, Challenges] appeared first on businessolution.org.

AI Entrepreneurship: The Ultimate Guide To Get Started [2023]

Patryk Miszczak — Sun, 09 Jul 2023 06:03:04 +0000

AI Entrepreneurship: The Ultimate Guide To Get Started [2023]

Today, I’ll show you everything I learned by trial and error with AI entrepreneurship. And no, you don’t need to learn how to code.

Tech titans like Chimav Palihappatiya have already confirmed that artificial intelligence is the next hype cycle within Silicon Valley in the startup world. If you are looking to take part in this once-in-a-lifetime opportunity to start an AI business, then you are in exactly the right place.

I figured all these steps out the hard way so you don’t have to. We’ll also go over the 3 easiest AI business models that people are exploiting right now that you can take and copy and paste into different industries.

July 9, 2023
, AI

What is Artificial intelligence?

Artificial intelligence or AI refers to the simulation of human intelligence within machines that are designed to think and act like humans. Essentially, AI attempts to perform tasks that would normally require human intelligence.

By this definition, AI has already replaced humans in data entry, medical diagnosis, fraud detection, and customer service.

Benefits of AI for Entrepreneurs

There are multiple benefits to AI for business, such as:

Lower cost
Infinite scalability
No human error, and
Data back decision making

The benefits of creating artificial intelligence systems to replace humans in tasks like these are that once created and trained, artificial intelligence does not need to take a break. It doesn’t complain. It doesn’t need days off.

Understanding the Different Domains of AI: Machine Learning, Natural Language Processing, and Robotics

The term AI itself can actually be quite confusing as there are a number of different aspects that get thrown in the mix at the same time.

Turns out AI is actually an umbrella term that many of the other categories that you may be familiar with fall under:

Machine Learning
Natural Language Processing (NLP)
Computer Vision
Robotics

And many others.

How Machine Learning Works: Examples of Predictive Models

Machine learning or ML is a core aspect of artificial intelligence, and it’s the process of giving a computer a ton of information so that it can learn off that information and then start to predict outcomes so that we don’t have to tell it what to do every single time.

For example, a machine learning model could be used to predict the price of a house based on its size, area, and room. Or a machine learning model could be used to classify emails as spam or not spam.

What you need to do is provide it with a ton of labeled examples of what is spam and what isn’t spam.

Natural Language Processing: The Key to Human-Computer Interaction

Natural language processing is another core aspect of the AI tools that we’re familiar with today, which helps computers to understand, interpret, and generate human language like when you’re talking to Siri or Alexa.

Early on, I had a bit of trouble understanding the distinction between these terms, but the easiest way to understand it is that AI is the umbrella term, and these different disciplines are combined together to make these products like Chat GPT or Siri, or robotics and warehouses as well.

They come together to form the final product, which is intelligence.

Large Language Models: The Hottest Topic in AI

Due to the record-breaking public reception of Chat GPT which got more than 1mln users in just one week, the hottest topic in AI right now is large language models.

Large language models or LLMs are advanced AI algorithms that generate human-like text.

They are trained on enormous amounts of data and work by breaking down the text into components, learning patterns, and then using that knowledge to generate new text.

And of course, the larger the training data set, the more accurate the model becomes. GPT-3 by Open AI is the language model that Chat GPT was built on top of and is arguably the best publicly available large language model we have today.

It was trained on hundreds of billions of words, and its success at GPT-4 will likely be many times that. The easiest way to think about these models is to imagine them as extremely powerful autocomplete engines.

Given just a few words, these large language models can write an entire short story or paragraph by pulling on similar collections of words within their training data.

Furthermore, they are excellent at pattern recognition and pattern generation, allowing us to carefully craft the kinds of output that we want out of them.

The Opportunity for AI Entrepreneurs: Building Applications on Top of Large Language Models

The biggest opportunity for us as AI entrepreneurs right now is to be building applications on top of these hugely powerful models. Companies like Google and OpenAI are doing all of the hard work of building these massive language models.

All we need to do is go and apply them to specific use cases. In order to build these applications and build on top of these models, we need access to them programmatically, which brings us to our next step – understanding APIs.

Understanding APIs: What They Are & How They Work

APIs or application programming interfaces are how entrepreneurs like us can get access to the power of these models and start building value on top of them.

APIs can be a little bit complicated, so here’s an analogy to breaking it down for you.

Just like you order food off a menu at a restaurant, a programmer can access specific functionality from a software application through the API.

In our case, we have APIs that allow us access to services by companies like Open AI and soon to be Google and others.

For example, the options on Open AI’s menu are the different submodels that they’ve trained that are good for different purposes.

The options on this menu range from Da Vinci to Aida, with Da Vinci being the most advanced language model that powers things like Chat GPT, down to Aida, which is only capable of doing very basic functionality.

They also have some models that are specialized towards code rather than language, so they offer a whole bunch of different options for you to access programmatically and build your applications on top of.

We can interact with these models and leverage their power by making what’s called an API call to them. Within these calls, you need to provide a bit of information to specify what you want back.

For example, let’s say we are creating a resume creation tool. We would need to collect user input containing their personal information such as email, phone number, and work history through a site or a form.

Then combine that information with some simple instructions explaining to the API what we want to do, and then we bundle that all together and send it off in a call.

The API would then process our request and send back the response. Because this is all done programmatically, once you have a reliable way of collecting user input and you have those instructions that you send off to the API written perfectly, then you are able to take this, repeat it over and over again, and scale it into a business.

However, the writing of these instructions is an entirely separate skill in itself.

Understanding Prompt Engineering

This skill is actually so important that I’ve already written an entire prompt engineering guide. But for now, I’ll give you a brief summary. The correct term for instructing an artificial intelligence to do a task is known as prompting.

Basically, we tell the AI, for example, Open AI’s GPT 3, a set of instructions, and it performs a task based on those instructions.

Prompts can be as simple as a phrase or a question or as complex as multiple paragraphs.

The reason prompt engineering or simply how you create your prompts is so important is because of a concept called “garbage in, garbage out“.

Essentially, the quality of your input determines the quality of your output. When you have large language models as powerful as GPT-3 and others, your ability to write good prompts determines the value that you can extract from them.

Entire businesses are being built on the back of a few well-written prompts or even just one.

Finally, what you’ve all been waiting for is the easiest way you can build on top of these large language models.

Building an AI Business on LLMs

Now that you’ve been brought up to speed on all the different aspects of AI entrepreneurship, you need to start piecing it all together.

Of course, the big question is how can you use all of this knowledge to not only identify but execute on your next big idea.

Here are the three best AI business formats that you can start copying and pasting into different industries today, and I’m saving the best one for last.

And if you’d like some specific AI entrepreneurship ideas, I’ve also put together a list of best ChatGPT business ideas.

1. Prompt Based Businesses

Business format number one is prompt-based businesses. This business format requires you to find a specific use case and then write one or many really well-crafted prompts that convert these large language models into tools for that specific use case.

Once you’ve played around and constructed these prompts, then all you need to do is host this on a website and start marketing it.

The simplest way to do this is to write a good prompt, take in some user input from your website, mash them together, and send it off in the API call.

What comes back can be a really customized response for people and it looks like magic to them.

But under the hood, it’s very low effort and very basic to get one of these up and running because you’re essentially just taking a large language model like GPT-3, giving it some instructions, shoving in some user input, and then letting it run the response back.

For example, you could use an AI-powered resume writing tool and then craft the prompt that shows GPT-3 the format, the best possible format for a resume, and then include that in the prompt and then include the user information, send it off in an API call and get it back and give that to the user.

Or you could create some interesting copywriting tools like copy.ai have done.

For example, you could create a Facebook ad UGC copy creator, which takes in some information on the company, and the products, and will always spread out a nice Facebook ad copy that includes quotations and product reviews in it.

Something like AdCreative.ai has done.

Out of the 3, this AI business model has the lowest barrier of entry as essentially all you need to do is write a good prompt.

Playing around with building these basic prompt-based tools is the perfect way to get your feet wet with AI entrepreneurship. I strongly urge you guys to get into the open AI playground and start having a play around and writing some prompts and seeing what you can get out of these models.

2. Fine Tune-Based Business

The next AI business model is a fine-tune-based business. Large language models like GPT 3 can be fine-tuned.

Essentially, fine-tuning allows you to teach a model to recognize new patterns. Chat GPT is an excellent example of this because Open AI has fine-tuned GPT-3 language model, in order to operate in a Q&A style by training it and giving it some examples of question-and-answer style prompts.

Fine-tuning can be used to create tools that improve a large language model for a specific purpose.

For example, you could fine-tune one of these models to become an expert social media sentiment analysis bot.

What you need to do is get a ton of Twitter comments, Instagram comments, and Facebook comments, label them as positive or negative, and then you can pipe that into the model to fine-tune it.

The resulting fine-tune model would be better at predicting the positive or negative sentiment of social media comments than the underlying GPT model itself.

While GPT-3 can already do sentiment analysis on its own, by providing it with these examples, you’re making it more niche down to being better at dealing with social media comments in particular.

The most difficult part about this business format is that you need appropriate data to fine-tune with.

This is where some light bulbs may be going off for you guys because if you own a business or you know someone who does, who has a ton of valuable and interesting data that could be used to fine-tune these models for a different purpose.

Then you have an excellent opportunity to use that data, fine-tune it, and create new software as a service.

As with most things in artificial intelligence and AI, the more data you can provide it with, the better the model will perform.

3. Custom Data Chatbot Business

Finally, the business format that I think has the most potential is a custom data chatbot business.

Now, don’t switch off because you’ve heard the word chatbot, hear me out.

If you can get your hands on some valuable data, be it through your own business or a friend, or you reach out to someone and offer to partner with them and create this chatbot service, if you can be the first people in your niche to provide some chatbot service, then you have a really good chance of making some serious money.

The main opportunity that I see for these chatbots is making complex database-structured data available in simple and easy-to-access ways to consumers.

The issue of getting data into these models so that they can be used for different use cases was something that puzzled me for a long time.

Recently, I connected the dots that you can use these models to convert natural language like a sentence into a database query. This essentially allows you to convert any database you have with some interesting data in it into a chatbot service.

One example of this in action could be an e-commerce reporting assistant for brand owners.

This assistant could take in a natural language prompt like, what were the 3 best-performing products for the month of December based on conversion rate.

You can send that information off to an API endpoint and receive it back in a database query that you can use to look up your database, pull that data, format it into a nice sentence, and then give it back to the user.

AI Entrepreneurship Final Words

So this is all I’ve got for this guide on AI for entrepreneurs. You are now equipped with enough information to get out there and start sniffing out those life-changing AI business opportunities that are going to be popping up everywhere.

The best part is that you’re still so early. You not only have a knowledge advantage, but you also have a time advantage.

The rest of the world is only just waking up to the huge opportunities in AI right in front of us, so you need to play your advantage to the fullest.

Patryk Miszczak

Launch Profitable Sales Funnels

Every online business needs a repeatable and consistent sales process that converts their visitors into leads, customers, and advocates.

The post AI Entrepreneurship: The Ultimate Guide To Get Started [2023] appeared first on businessolution.org.

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47 Top AI in Recruitment Statistics for 2024

47 Top AI in Recruitment Statistics for 2024

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