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AI Productivity: The US States Saving Billions on AI Adaption

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According to a 2023 report, businesses could save as much as $11 billion annually by integrating AI into their customer service. With companies’ savings up to $35,000 per year,. But just how much might AI impact each US state in terms of potential annual savings?

A new report by GetResponse analysed the top five sectors that could potentially save millions by adapting AI within their workforce. Using census data, the team was able to reveal the number of businesses currently operating within each state, showing the true cost AI could have on business productivity in 2024.

The top five sectors include automotive, commercial services, architecture, engineering and building, finance, and hair and beauty.

The top 10 States saving with AI adaption going into 2024

California is named to lead in AI productivity in 2024. According to census data, there are currently 236,962 businesses operating across the five sectors that stand to benefit the most from AI adoption. Annual savings could reach as high as $10 billion. The report highlights that the architecture, engineering, and building sectors alone could save more than $4 billion annually.

It might not be surprising that Texas (3rd) and New York (4th) also rank high, potentially saving more than $6.5 billion each. Both states were prominent in AI job postings in 2023.

The US States ranking lowest for AI productivity and adaption going into 2024

Vermont is set to save the least across the US, still accumulating more than $142 million annually if all businesses across the top five sectors adopt AI within their workforce. Notably, states that are expected to save the least have fewer companies compared to states like California.

Methodology

The dataset presented in this study offers a comprehensive ranking of all states based on their efficiency in capital saving through the implementation of AI. This ranking was achieved by analysing data across five distinct industries. In cases where data was unavailable, a default score of 0 was assigned. The methodology involved multiplying the available data by the annual savings for each industry, resulting in a total savings amount for each state. These amounts were then ordered to rank the locations from the highest to the lowest based on their total scores.

The industries that were scrutinised include automotive (focusing on transportation manufacturing, motor vehicles and part wholesalers, and transportation and warehousing), commercial services (encompassing all sectors within “retail trade”, such as furniture and home stores, petrol stations, clothes stores, etc.), architecture, engineering, and building (with a specific focus on architecture and engineering, and construction), finance (concentrating on finance and insurance), and hair and beauty (highlighting hair, nail and skin care services).

All data used in this study is current as of 28 November 2023, and has been verified for accuracy against the US Census.

GetResponse stands out as a versatile email marketing platform that caters to the needs of small businesses, solopreneurs, coaches, and marketers. This platform has been chosen by customers for its user-friendly interface and its ability to not just engage with subscribers but also convert them into paying customers. With over 25 years in the industry, GetResponse offers more than just email marketing. It’s an all-encompassing solution that includes AI-powered content creation tools, automation, and strategies for list growth. Additionally, it provides communication tools like forms, popups, webinars, and live chats. These features are integral to helping businesses develop their personal brand, sell products and services, and foster a community. This is further supported by their award-winning 24/7 customer support, available in eight languages.

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