35 Machine Learning Statistics You Should Know

Machine learning is a complex and fascinating subject. Machine learning is all about teaching computers to learn from data and make predictions. This is done by feeding computers large amounts of data and then letting them learn from it.

There are many different types of machine learning, but one of the most common is supervised learning. Supervised learning is where you have a dataset with known outcomes. The computer is then given a new dataset and asked to predict the outcomes.

Supervised learning is popular because it can be used for a variety of tasks such as facial recognition, spam detection, and medical diagnosis.

Some machine learning algorithms are better at certain tasks than others. For example, support vector machines are often used for classification tasks while decision trees are used for regression tasks.

There are many different statistics associated with it, which can be overwhelming for beginners.

In this blog post, we will discuss some of the most important machine learning statistics that you should know. We will also provide explanations for each statistic so that you can understand them better. By understanding these statistics, you will be able to make more informed decisions about your machine learning projects!

Key Takeaways:

  1. The global machine learning market is expected to expand at 42.08% CGAR during 2018-2024 (Millions Insight)
  2. North America leads the machine learning world with a machine learning adoption of 80%, followed by Asia at 37% and Europe at 29%(McKinsey)
  3. Netflix saved more than $1 billion in expenses last year due to its machine learning algorithm for personalization and recommendation (Insider)
  4. Machine learning’s accuracy in predicting highs and lows of the stock market is 62% (MDPI)
  5. The accuracy of Google’s machine learning algorithms in predicting the accuracy of a patient’s death is 95% (Nature)

General Machine Learning Statistics

1. Netflix saved more than $1 billion in expenses last year due to its machine learning algorithm for personalization and recommendation

(Insider)

Takeaway:

Machine learning has vast applications in multiple industries and this can be proved by this statistic as well. According to this statistic, Netflix has saved a lot of money by using machine learning to personalize and recommend content to its users. The recommendations section for Netflix users allows the company to save a lot on marketing and content costs. This statistic shows the power of machine learning and how it can be used to save money in various industries. This shows that machine learning can be very beneficial for businesses in terms of both cost savings and increased efficiency.

2. Machine learning’s accuracy in predicting highs and lows of the stock market is 62%

(MDPI)

Takeaway:

This statistic is from a study that was conducted to test the accuracy of machine learning in predicting the stock market. The study found that the machine learning algorithm was 62% accurate in predicting the highs and lows of the stock market. This is a very impressive statistic and it shows that machine learning can be used to make predictions about complex systems such as the stock market. This study shows that machine learning can be used to make better investment decisions.

3. 60% of errors in Google Translate were resolved when it was shifted to a new machine learning algorithm

(ZDnet)

Takeaway:

This statistic is from a case study conducted by Google. In this study, they found that 60% of errors in their Google Translate service were resolved when they shifted to a new machine learning algorithm. This is a very impressive statistic and it shows the power of machine learning. This study also shows that even big companies like Google are constantly improving their machine learning algorithms to make their services more accurate.

4. The accuracy of Google’s machine learning algorithms in predicting the accuracy of a patient’s death is 95%

(Nature)

Takeaway:

This statistic is from a study conducted by Google. In this study, they found that their machine learning algorithm was 95% accurate in predicting the accuracy of a patient’s death. This is a very impressive statistic and it shows the power of machine learning. This study also shows that machine learning can be used to make predictions about complex systems such as the human body. This study shows that machine learning can be used to make better decisions about medical treatment.

5. The global machine learning market is expected to expand at 42.08% CGAR during 2018-2024

(Millions Insight)

Takeaway:

This statistic shows the rapid growth of the machine learning market. The global machine learning market is expected to expand at a compound annual growth rate of 42.08% during the forecast period of 2018-2024. This is a very high growth rate and it shows that machine learning is becoming more and more popular. This statistic also shows that the machine learning market is expected to be worth billions of dollars in the next few years. This indicates that the world of business needs to advance more toward machine learning implementation.

6. 65% of companies are now planning to adopt machine learning technology as it helps more in decision making

(McKinsey)

Takeaway:

This statistic is from a survey conducted by McKinsey. In this survey, they found that 65% of companies are now planning to adopt machine learning technology. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to help make better decisions. This is because machine learning can be used to process large amounts of data and make predictions about the future. This survey shows that machine learning is becoming more and more important for businesses.

7. North America leads the machine learning world with a machine learning adoption of 80%, followed by Asia at 37% and Europe at 29%

(McKinsey)

Takeaway:

This statistic is from a survey conducted by McKinsey. In this survey, they found that North America leads the machine learning world with an adoption rate of 80%. This is followed by Asia at 37% and Europe at 29%. This shows that machine learning is becoming more and more popular in all parts of the world. This statistic also shows that machine learning can be used to help make better decisions. This survey shows that machine learning is becoming more and more important for businesses all over the world.

8. With the advancements in machine learning, the global GDP is predicted to be increased by 14% by 2030

(Wall Street Journal)

Takeaway:

This statistic is from a report by the Wall Street Journal. In this report, they found that with the advancements in machine learning, the global GDP is predicted to be increased by 14% by 2030. This is a very high number and it shows that machine learning is becoming more and more important. This statistic also shows that machine learning can be used to help make better decisions. This is because machine learning can be used to process large amounts of data and make predictions about the future. This report shows that machine learning is becoming more and more important for businesses all over the world.

9. 20% of C-level executives, including 10 countries and 14 industries, claim that machine learning is a core part of their business

(McKinsey)

Takeaway:

This statistic is from a survey conducted by McKinsey. In this survey, they found that 20% of C-level executives, including representatives from 14 industries and from countries, claim that machine learning is a core part of their business. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to help make better decisions. This indicates that machine learning is slowly taking over the business world.

10. Budgets for machine learning programs are growing by 25%

(Algorithmia)

Takeaway:

This statistic is from a report by Algorithmia. In this report, they found that budgets for machine learning programs are growing by 25%. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to help make better decisions. This indicates that businesses are willing to invest more money into machine learning. This shows that machine learning is becoming more and more important for businesses all over the world.

Machine Learning Statistics for Businesses

11. Around 33% of IT leaders will adopt machine learning to improve business analytics

(McKinsey)

Takeaway:

This statistic is from a survey conducted by McKinsey. In this survey, they found that around 33% of IT leaders will adopt machine learning to improve business analytics. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to help make better decisions. This is because machine learning can be used to process large amounts of data and make predictions about the future.

12. 91.5% of businesses currently have ongoing investments in machine learning and AI

(Business Wire)

Takeaway:

This statistic is from a report by Business Wire. In this report, they found that 91.5% of businesses currently have ongoing investments in machine learning and AI. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to help make better decisions. This is because machine learning can be used to process large amounts of data and make predictions about the betterment for the business.

13. 63% of business executives claimed that the use of AI and machine learning algorithms increased revenue

(Forbes)

Takeaway:

This statistic is from a survey conducted by Forbes. In this survey, they found that 63% of business executives claimed that the use of AI and machine learning algorithms increased revenue. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to increase revenue and increase the overall income for an organization.

14. 61% of workers claim that the adoption of AI into businesses has boosted productivity

(SnapLogic)

Takeaway:

This statistic is from a survey conducted by SnapLogic. In this survey, they found that 61% of workers claim that the adoption of AI into businesses has boosted productivity. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to increase productivity in businesses. This is because machine learning can be used to automate tasks and processes.

15. 15% of organizations are advanced machine learning users

(McKinsey)

Takeaway:

This statistic is from a survey conducted by McKinsey. In this survey, they found that 15% of organizations are advanced machine learning users. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to help businesses gain a competitive edge. This is because machine learning can be used to process large amounts of data and make predictions about the future.

16. 80% of businesses plan to adopt AI as a customer service solution

(Gartner)

Takeaway:

This statistic is from a survey conducted by Gartner. In this survey, they found that 80% of businesses plan to adopt AI as a customer service solution. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve customer service. This is because machine learning can be used to automate tasks and processes.

17. 44% of organizations using AI reports reduced business costs

(McKinsey)

Takeaway:

This statistic is from a survey conducted by McKinsey. In this survey, they found that 44% of organizations using AI reports reduced business costs. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to reduce business costs. This is because machine learning can be used to automate tasks and processes.

18. Investments in AI will increase by 300% in the coming years

(Venture Beat)

Takeaway:

This statistic is from a report conducted by Venture Beat. In this report, they found that investments in AI will increase by 300% in the coming years. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning is becoming more and more important for businesses.

19. 62% of customers are happy and willing to submit their data to an AI system for a better customer experience

(Forbes)

Takeaway:

This statistic is from a survey conducted by Forbes. In this survey, they found that 62% of customers are happy and willing to submit their data to an AI system for a better customer experience. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve customer service. This is because machine learning can be used to process large amounts of data and make predictions about the future.

20. 44% of organizations fear that they will lose to startups if they don’t keep up with the latest machine learning trends

(Microsoft)

Takeaway:

This statistic is from a survey conducted by Microsoft. In this survey, they found that 44% of organizations fear that they will lose to startups if they don’t keep up with the latest machine learning trends. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that businesses are starting to feel the pressure to adopt machine learning. This is because machine learning can be used to automate tasks and processes.

Machines Learning Sales and Marketing Statistics

21. Companies who use AI and machine learning for their sales increased their leads by more than 50% and reduced call time by 60%

(Harvard Business Review)

Takeaway:

This statistic is from a survey conducted by the Harvard Business Review. In this survey, they found that companies who use AI and machine learning for their sales increased their leads by more than 50% and reduced call time by 60%. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve sales.

22. 30% of companies worldwide are using AI and machine learning in at least one of their sales process

(Venture Harbour)

Takeaway:

This statistic is from a report conducted by Venture Harbour. In this report, they found that 30% of companies worldwide are using AI and machine learning in at least one of their sales process. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to automate sales.

23. Business leaders claim that using chatbots has increased their sales by 67% on average

(SpiceWorks)

Takeaway:

This statistic is from a survey conducted by SpiceWorks. In this survey, they found that business leaders claim that using chatbots has increased their sales by 67% on average. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve customer service. Chatbots can help customer service representatives by providing answers to common questions.

24. One in every four sales teams is using AI and machine learning in their sales tasks

(Harvard Business Review)

Takeaway:

This statistic is from a survey conducted by the Harvard Business Review. In this survey, they found that one in every four sales teams is using AI and machine learning in their sales tasks. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to automate sales.

25. 56.5% of marketers are using AI and machine learning for content personalization

(Deloitte)

Takeaway:

This statistic is from a survey conducted by Deloitte. In this survey, they found that 56.5% of marketers are using AI and machine learning for content personalization. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve customer service. With improved customer service, businesses can increase sales and leads.

26. 87% of AI adopters are using machine learning for optimizing sales and for email marketing

(Forbes)

Takeaway:

This statistic is from a survey conducted by Forbes. In this survey, they found that 87% of AI adopters are using machine learning for optimizing sales and for email marketing. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve sales. With improved sales, businesses can increase leads and conversions.

27. 61% of marketers say that using AI and machine learning programs are the most important parts of their business strategy

(Venture Harbour)

Takeaway:

This statistic is from a survey conducted by Venture Harbour. In this survey, they found that 61% of marketers say that using AI and machine learning programs are the most important parts of their business strategy. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve sales. With improved sales, businesses can increase leads and conversions.

28. Because of AI technology and machine learning programs, 49% of consumers are willing to shop more frequently

(AI Trends)

Takeaway:

This statistic is from a survey conducted by AI Trends. In this survey, they found that because of AI technology and machine learning programs, 49% of consumers are willing to shop more frequently. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve sales. With improved sales, businesses can increase leads and gain prosperity.

29. 15% of customer interactions worldwide are expected to become fully AI powered

(Gartner)

Takeaway:

This statistic is from a study conducted by Gartner. In this study, they found that 15% customer interactions worldwide are expected to become fully AI powered. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve customer service.

30. Chatbots are predicted to handle 95% of all customer service interactions by 2025

(ZDNet)

Takeaway:

This statistic is from a study conducted by ZDNet. In this study, they found that chatbots are predicted to handle 95% of all customer service interactions by 2025. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to automate customer service.

Machine Learning and Employment Statistics

31. 52% of companies will be forced to retrain their employees because of the adoption of AI in the workplace

(Forbes)

Takeaway:

This statistic is from a survey conducted by Forbes. In this survey, they found that 52% of companies will be forced to retrain their employees because of the adoption of AI in the workplace. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve the workplace. With improved work conditions, businesses can increase productivity.

32. By 2022, AI and machine learning will create more jobs than it will replace

(Gartner)

Takeaway:

This statistic is from a study conducted by Gartner. In this study, they found that by 2022, AI and machine learning will create more jobs than it will replace. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve employment opportunities.

33. In 2018, global spending on AI and machine learning is predicted to reach $19.47 billion

(Forbes)

Takeaway:

This statistic is from a study conducted by Forbes. In this study, they found that in 2018, global spending on AI and machine learning is predicted to reach $19.47 billion. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve the economy. With improved economic conditions, businesses can increase profits.

34. The job market will grow by 21% because of the adoption of AI in businesses

(McKinsey)

Takeaway:

This statistic is from a study conducted by McKinsey. In this study, they found that the job market will grow by 21% because of the adoption of AI in businesses. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve employment opportunities.

35. By 2020, AI will create 133 million new jobs

(World Economic Forum)

Takeaway:

This statistic is from a study conducted by the World Economic Forum. In this study, they found that by 2020, AI will create 133 million new jobs. This is a very high number and it shows that machine learning is becoming more and more popular. This statistic also shows that machine learning can be used to improve employment opportunities.

Wrapping Up

These are just a few of the many machine learning statistics out there. As you can see, machine learning is becoming more and more popular and it is being used in many different industries. If you are interested in learning more about machine learning, be sure to check out our other blog posts on the subject. Thanks for reading!

Sources

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https://www.zdnet.com/article/google-announces-neural-machine-translation-to-improve-google-translate/

https://www.nature.com/articles/s41746-018-0029-1

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