Role of Artificial Intelligence Services and Solutions in Business
The demand for artificial intelligence is growing by 40% every year. Still, most companies just talk about AI instead of implementing it and doing something valuable with it. A research firm, known as MarketsandMarkets, has predicted that the market of Machine Learning will increase from 1.03 billion in 2016 to 8.81 billion dollars by 2022.
Artificial intelligence services for businesses reduce human interventions in many areas and are considered to be the best way as they enhance overall business profit. Yet, some small businesses are still unable to integrate machine learning development services in their vision of value creation.
Democratization of Artificial Intelligence Development Services
AI and ML play a vital role in a company’s products or services, according to the report from a London-based venture capital firm called MMC. There are many organizations that are trying to increase AI accessibility for a large number of customers, leading them to a democratization of the technology. Hence, the introduction of affordable and machine learning development solutions helps in optimizing business procedures.
How can Artificial Intelligence Development Services Help with Current Business Needs?
Automation
Artificial intelligence services for business help companies save money and time by automating routine procedures and operations, avoiding bias, and human errors.
Comprehensive Viewpoints
Use fact-based insights from artificial intelligence software in order to anticipate the preferences of customers and give them a better experience.
Improved Judgment
Using the results of cognitive technologies eases the business’ decision-making process. They can develop their expertise by simply enabling analysis that offers smart advice and support.
Enhanced Productivity
Increases operational efficiency and productivity at work, using the most recent artificial intelligence services and solutions. Prevents subpar product quality and production losses.
Continuation in Action
By involving both the staff and customers based on data, customer support can be improved. Increases revenue by identifying and grabbing sales opportunities.
Integration of Artificial Intelligence services in Businesses
Artificial intelligence services and solutions must be integrated into businesses. Let’s see how it should be done.
Testing
Modern technology can be overwhelming sometimes, no matter how advanced its software is. It is not due to the newness but because of the changing aspects around it. Hence, businesses must do some experimental testing first.
Scale
Artificial intelligence services for business use the term “network effect”. AI and ML-based applications are gaining more popularity due to the growth in data being processed. So, once the use case is proven, it is in the company’s best interest to do the integration of data as much as possible.
Companies Using Machine Learning Solutions
Companies have come up with several innovative ways in order to use AI and ML for addressing various business problems. Let us take a look at companies that are using machine learning solutions
- HP
- Go-Jek
- PayPal
- T-Mobile
- Expedia
- Lenovo
- Adobe
How Do Machine Learning Solutions Help Small Businesses?
Machine Learning solutions and AI help big businesses in many ways. But now, they are also available for small businesses with the help of AIaaS (AI as a Service). These benefits are not different from those of big companies. Let us take a good at them:
- Lower costs
- Enhanced security
- Time-Saving
- Better or Improved service
What Small Businesses Should Look For While Choosing a Machine Learning Solution?
Businesses can opt for many solutions, in order to make enhancements in their overall services and security. Hence, organizations must look out for the following considerations before making any decision.
- User-friendliness and easy to implement
- The solution must be scalable
- High-quality support
- Ample features
- Speed of development
Common Myths About Machine Learning
In this modern and digital world, customers still have some myths regarding ML and are concerned about them. For Example
- Humans will be replaced by Artificial Intelligence and Machine Learning
- Machines adapt and learn with experience
- Machine Learning is not different from Artificial Intelligence
Conclusion
With the introduction of artificial intelligence and blockchain services, every business will be able to achieve its targets on time, without any kind of human error. These services will also allow them to work in an environment free of risks which will be beneficial in the longer run.
Artificial intelligence services and solutions have completely changed the way how business works. So, it must be integrated into the businesses to increase the overall profitability, as it is predicted to grow substantially by 2022
