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🆚 US vs. China's AI Race
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🤯 Insight: AI’s Stand In Businesses
The state of AI in business is characterized by widespread adoption and potential for growth. AI adoption offers benefits such as reduced operational time, business insights, reduced errors, task automation, enhanced productivity, better customer service, and the rise of virtual assistants.
Currently, 35% of companies are using AI, while 42% are exploring its implementation in the future. Leading businesses are investing in AI continuously, and customer satisfaction is expected to grow by 25% in organizations using AI.
Voice search is gaining traction, with 97% of mobile users utilizing AI-powered voice assistants. Machine learning and AI are top priorities for organizations, with 63% planning to increase or maintain spending in this area. Concerns about job automation exist, but AI is expected to create more jobs than it replaces.
The retail industry is adopting AI for hyper-personalization and recommendations, with an expected spend of $20.05 billion by 2026. Chatbots are popular in customer service, with potential cost reductions of up to 30%.
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