Data Backed Report On The State Of AI In January 2024

Despite continued hesitancy and debate around ethical artificial intelligence (AI) usage, only 3% of marketers don't use AI or don’t know how their team uses AI according to a new State of AI report.

The launch of ChatGPT in 2022 was an inflection point for Artificial Intelligence (AI) that triggered a revolution in the overall technology space, so much so that the market size of AI is expected to reach $407 billion by 2027, growing at a CAGR of around 36.2% between 2022 to 2027.

Chelsea Alves, a Consultant for UNMiss, shares her thoughts on the report:

“In the ever-evolving landscape of marketing, these new AI revelations point to the transformative power of generative AI. The report not only uncovers the staggering rate of AI adoption but challenges preconceptions, revealing industry anomalies and missed opportunities. As we navigate this evolving frontier, it's not just about identifying trends; it's about rewriting the existing rules and embracing a new era in marketing fueled by the promising capabilities of generative AI."

Contrary to expectations of AI adoption plateauing, the study forecasts an ongoing surge in AI integration across industries throughout the year. A significant number of companies express their intent to leverage AI more extensively than ever before, signifying the continued evolution and integration of AI technologies in business operations.

The report unveils how AI is used in marketing organisations, shedding new light on the prevailing atmosphere, AI's swift momentum, and opportunities for marketers to get the most out of this revolutionary technology.

The state of AI report in January 2024: A detailed analysis

The latest "State of AI" report sheds light on the diverse applications of artificial intelligence across various industries. Marketers predominantly harness AI for design (41%), social media content creation (39%), and writing copy (38%). Research and consulting firms emerge as leaders in AI utilisation, particularly in top use cases like writing content (68%) and design/illustration (64%). A significant majority, at least 61%, regularly incorporate AI for copy creation, design, and social media tasks.

Among the plethora of generative AI tools available, the report highlights that ChatGPT is the predominant choice for creating copy, surpassing others by nearly double usage, with Chatfuel trailing behind.

For search engine optimisation (SEO), HubSpot SEO emerges as the top AI tool, emphasising its significance in enhancing online visibility. Interestingly, the report observes a shift in the AI usage pattern within the retail and e-commerce sector, with a decreased reliance on AI for content creation and a heightened focus on SEO, notably using tools like SEMrush and HubSpot SEO more than ChatGPT.

AI usage expectations in 2024

A notable 55% of companies with 201-1,000 employees express their expectation to increase their utilisation of AI. This sentiment is echoed on a broader scale, with a substantial 72% of companies across all sizes foreseeing an uptick in their use of AI tools within the next 12 months.

In the specific context of retail and e-commerce, a significant 72% of companies in this sector anticipate a modest increase in their deployment of AI tools, underlining a widespread inclination toward heightened integration of artificial intelligence across diverse industries.