State of AI in Business: Findings from AI Report

Artificial Intelligence (AI) is no longer just a vision of the future. It’s here and it’s shaping businesses around the world today. Its impact is already being felt, driving transformation and innovation across industries.

Whether you’re a small startup or an established enterprise, AI offers immense potential to transform operations, boost productivity and improve customer interactions.

So, how are businesses today using AI, and what challenges do they face? That’s the focus of Pipedrive’s State of AI in Business Report, which draws on insights from a recent survey of 500 businesses.

In this article, we’ll dive into some of the most compelling findings, giving you a taste of what to expect in the full report.

The power of AI adoption

According to our report, AI adoption is increasing rapidly, with 35% of businesses already using AI in some capacity.

While this figure might seem modest, it signals a growing trend toward leveraging AI for tasks that once required human intervention. The big winner? ChatGPT. A staggering 86% of businesses that have adopted AI are using ChatGPT, making it the dominant player in the field.

For comparison, tools like Siri and Google Assistant are only being used by about 24% and 19% of businesses, respectively. ChatGPT’s clear lead showcases its effectiveness, accessibility and widespread appeal among companies looking to stay ahead in the AI game.

ChatGPT is known for its wide range of uses, from creating content and summarizing information to assisting with customer interactions. Its capabilities offer businesses several ways to optimize tasks and explore new possibilities.

Beyond automation, AI tools like ChatGPT can also help businesses extract insights from data, supporting more informed decision-making.

According to our report:

Why some businesses are hesitant

Despite the benefits, AI adoption isn’t without its challenges. The report reveals that nearly half of businesses that haven’t adopted AI cite a lack of knowledge as the primary barrier.

Many companies don’t know where to start or how to integrate AI effectively into their existing processes. Concerns around trust and data privacy often compound this knowledge gap – 40% of respondents are hesitant to adopt AI due to a lack of trust in the technology.

Barriers to AI adoption

Other barriers to AI adoption include fear from using new technologies (10%) and resistance from stakeholders (4%).

Data privacy and security concerns also significantly influence the reluctance to embrace AI. With cyber threats rising, businesses are understandably cautious about exposing sensitive customer data to potential risks.

These concerns aren’t trivial, and they underline the need for more robust AI education and support to help businesses feel confident in their AI strategies.

Motivators for AI adoption

The key driver for businesses that have embraced AI is clear: increased productivity.

AI allows businesses to automate repetitive tasks, like data entry, scheduling and even basic customer service interactions, freeing employees to focus on higher-value work. In fact, 79% of AI adopters say that productivity gains were their main reason for using AI.

AI adoption: primary motivators

Beyond productivity, AI is also helping businesses improve customer interactions. While AI can offer valuable support through tools like chatbots or virtual assistants, human interaction remains crucial to delivering the personalized service customers expect.

Rather than replacing humans, these experiences improve satisfaction for both businesses and their clients.

A glimpse at AI use cases

One of the report’s most interesting findings is the range of ways businesses are leveraging AI today.

The most common use case is text creation, with 75% of businesses using AI to generate content like blog posts, emails and product descriptions. AI is also being used for content summarization, which helps businesses filter large volumes of information into easy-to-digest insights.

AI use cases

Other use cases include AI-powered customer support (10.8%), voice recognition and sentiment analysis tools (9.7%), predictive analytics to forecast sales and customer patterns (8.6%) and lead scoring and prioritization tools (7.5%).

AI’s potential, however, goes far beyond text. Companies also use AI for transcription, research and even sales report generation. Interestingly, lead scoring – using AI to predict which leads are most likely to convert into customers – remains an underutilized application, with only 8% of businesses leveraging AI in this way.

The growing familiarity with AI’s full capabilities presents a significant opportunity for growth.

Final thoughts

Pipedrive’s State of AI in Business Report paints a detailed picture of how businesses use AI today and its potential for the future.

While tools like ChatGPT dominate the landscape, the report also highlights the barriers that prevent wider AI adoption, including a lack of knowledge, trust issues and data privacy concerns.

AI is no longer a “nice-to-have” but a must for businesses looking to remain competitive in a rapidly evolving market. From improving productivity to streamlining customer interactions and generating actionable insights, AI has the power to transform operations and significantly drive growth.

Want to know more? The full whitepaper dives deeper into the current state of AI in business, offering valuable insights that can help your company navigate the challenges of AI adoption.

Download the full report and get ahead of the curve.