These days Artificial
Intelligence is getting huge hype and attention, everywhere you can find
countless articles on AI-related topics. It has been at the front of commercial
innovation ever since the morn of the Digital Revolution. AI has lightened the efficiency
of electronic devices with different kinds of software and digital innovations
to create a digital environment that is geared toward modifying the way we do
business.
According to Gartner, “By 2018, world’s more than half of
the large organizations would be exploiting the use of Artificial Intelligence
in terms of analytics and proprietary algorithms”. That clearly shows the
demand for Artificial Intelligence is increasing day by day. On the basis of
Gartner study, by 2020 there will be over 26 billion connected devices and 30%
of web browsing sessions will be done without a screen. This increasing demand
for this technology means more and more businesses will begin to integrate it
into their mobile app
development.
Insights
Now, Artificial intelligence (AI) has also
entered in the office premises. According to Accenture,
Nearly 90% of U.S. workers are optimistic
about the changes that technology will bring in the next five years. McKinsey estimated that AI techniques could
potentially create between $3.5 trillion and $5.8 trillion in value annually
across nine business functions in 19 industries. As AI continues to get smarter
and more capable because of this employee’s productivity is poised for a
sizable shift with the new tools and technology available to them.
With the right techniques, businesses can quickly work on
latest trends, patterns, clusters, and eccentricity in customer behavior,
supply chains, internal operations, and market dynamics. But as the
methodologies of big data become more widely accepted, algorithms of AI technology
become less of a competitive differentiator.
In fact, the availability of machine learning and natural
language processing via the cloud is likely to accelerate the commodification
of AI in the near future, essentially making it table stakes.
How Startups Fueling The AI Revolution
There are many companies spearheading the
shift to Artificial Intelligence. Companies like H2O.ai are utilizing AI by
creating an open-source machine learning platform that is accessible to
everyone. Almost all the Fortune 500 firms use AI to take a powerful decision
by combining data science with behavioral science respectively.
In the market, there are various AI integrated platforms
like DataRobot, CrowdAI and others are available which is designed for broad
adoption and usability across many skill levels in an organization. This level
of mutation in AI has created a major change by triggering massive acceleration
for both business and human innovation.
Why Businesses Are Adopting AI To Drive Growth?
While AI is increasingly involving in consumer
lives, businesses are still in the early phase of launching AI in their
business model. According to the Gartner, the market potential is huge; nearly
$3.9 trillion in AI-derived business value will be created by 2022.
Today most of the industries are seeing positive outcomes
from the Artificial
Intelligence mobile app development. With the help of AI
integrated mobile applications, car manufacturing company State Farm, enable
customers to detect distracted drivers using their mobile app in order to track
driving patterns for safe driving habits. This habit plays an important role in
customizing insurance and providing customer offers.
Benefits of Artificial Intelligence In Businesses
Artificial intelligence (AI) is now
everywhere, it’s been a logical headway. In the era of big data and cloud AI
has taken a significant paradigm shift that has enabled AI to become practical
and accessible to both consumers and businesses. As the volume of data is
increasing day by day, the cloud provides access to scalable, parallel data
processing at low cost by allowing cloud vendors to create machine learning
algorithms and deploy an artificial intelligence as a service model. No doubt,
AI is becoming a utility function that’s the reason you can find it in every
industry.
1. Financial Industry
The financial industry is a data-intensive industry;
it takes time and full proven research before adopting any new trend as there
is no scope for any blunder. In this industry, AI has made its place smoothly
and become an integral part of the financial industry for offering safety,
employment, inclusion, and the financial services value chain.
2. Agriculture Industry
The agriculture sector is continuously
evolving with the help of AI and its automating processes is extremely
beneficial for the society, lowering costs and help farmers to reap the fruits
of their labor all year round. Agrobot is an autonomous robotic harvester
that is revolutionizing the agriculture world. It works with the world’s
leading farmers to automate berry harvesting through the potential of AI.
3. Healthcare Industry
In healthcare, errors can be costly as well as
horrid. With AI integrated medical equipment, the chance of error reduces to a
sizable extent and its recognition has also become easy. From decisions making
to strong security, AI is proven to be a better assistant in terms of help
needed in the healthcare industry. Artificial intelligence is not developed for
replacing doctors and nurses but it definitely takes away a lot of burden off
their shoulders.
4. Logistics Industry
Supply chain management needs unbending focus
and labor in all its operations. With the help of AI, companies are smoothly
managing their supply chain by tracking the whole process at their fingertips.
As a result, now complete supply chain process from production to delivery has
become automated with the overall improvement in efficiency and speed.
Conclusion
AI promises hefty transformation and an
exciting advancement in the industries that can drive broad-spectrum economic
prosperity.
Worldwide popular AI integrated devices and grooming in mobile app
development is a proof that AI is now everywhere and
become a part of our lives and we cannot deny for the fruitful results of it.
We, humans, are sharp in our own right, and if automated decision-making is
something we can do, we can also make the tools to control it.
Consagous specialize in business-centric mobile app
development solutions. Get a free quote HERE
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