Why Businesses Need Artificial Intelligence to Stay on Top of Digital Race?
Why Businesses Need Artificial Intelligence To Stay On Top Of Digital Race?
Artificial Intelligence technology has modernized many aspects of businesses of all sizes that serve across various industries. This revolutionizing AI technology and AI Trends, including Machine Learning (ML), Natural Language Processing (NLP), Robotic Process Automation (RPA), Speech Recognition, and Computer Vision completely transformed the operational ways of products and service-based companies.
According to the research reports, AI software adoption across industries is predicted to increase rapidly and reach USD 126 billion by 2025 from approximately USD 22.6 billion in 2020. A range of software and hardware applications will make use of AI and its sub-technologies.
However, AI use cases in banking, finance, healthcare, education, automotive, manufacturing, and retail have already proven their significance and delivered unmeasurable profits to companies.
Customer support chatbots, self-driving cars, manufacturing automation robots, smart devices, and virtual nursing assistants are all the best innovations derived from AI technology. Hence, investing in AI app development will augment your business process efficiency and let your brand stay on top of the digital competition.
So, it’s the right time to embrace AI technology. In this article, we would like to explain to you how AI will benefit your business, why AI implementation is essential for your business, and what would be the future of AI and ML mobile app development.
What Are The Top AI Trends That You Must Know?
- AI Applications for Ensuring Productivity and Generating High RoI
AI software applications are widely adopted by companies as it offers new business approaches that reduce operational costs and improves RoI.
AI-powered Manufacturing robots are the best examples of this scenario. A pre-defined AI robot will perform all the programmed operations just like a human workforce, but faster. Such automated and machine-powered operations will save time, increase productivity, and reduce overall operational and labor expenses.
Similarly, AI-based cashier-less or self-checkout software solutions are also become a trend and gaining popularity across the global retail and public industry. AI-enabled self-checkout applications scan the bar codes and send digital receipts to the customers.
- AI Use For Fueling Autonomous Level In Automotive Sector
Self-driving vehicles or autonomous vehicles are other creations derived from advanced AI and its sub-technologies. The research studies say that the self-driving cars market size is projected to grow from 20.3 million in 2021 to 62.4 million by 2030. The numbers are reflecting the future scope of AI technology in the automotive industry.
Tesla, Waymo, Nvidia, and many more automobile manufacturers are producing driverless cars or robotic cars. These brands are adopting the technology to fullest and reducing the risk levels and driving safely better than dangerous driver behaviors.
- A Combo Of AI and Predictive Analytics For Estimating The Future
Over 50% of organizations are currently using AI-powered analytical tools for predicting the scope of their business in the future. By feeding the historic data and past sales information, AI forecasting applications will deeply analyze the demand for the products and services and evaluate the best insights that predict the future.
- AI Technology For CyberSecurity
AI-powered software apps will play a vital role in protecting information systems from illegal access. AI tools perform multiple account verification processes and prevent unauthorized access efficiently. Hence, AI is being used for preventing cyberattacks and protecting the sensitive data of organizations.
Since data will play a vital role in this digital era, AI-enabled information security tools and software will have a bright scope in the years ahead. AI-powered anti-malware protection solutions can handle vast databases, derive patterns into user search behavior, identify threats, and offer many more benefits to the cybersecurity industry.
- AI Conversational Bots For Instant Customer Support
Whether it is the 1980s, 1990s, or 2020s, customers are the kings of organizations. Without customers, no business will endure in long run. Giving instant responses to customers at the right time will increase brand reliability and let businesses maintain strong relationships with their loyal customers.
Leveraging the capabilities of voice recognition, ML, and speech recognition technologies, AI-powered chatbot applications will deliver high-quality responses to customer queries in just a few seconds.
These are trends that will have a great scope in the coming years. Accordingly, AI applications would also be expected to show their significance in supply chain monitoring, inventory management, and auto-segregation of the target audience.
Why Is AI Implementation Essential For Your Business?
Here are top reasons behind why your business need AI apps to be competitive in this digital space.
- AI for accelerating automation and improving work efficiencies
- AI for forecasting market dynamics and optimizing sales pipeline
- AI for better engaging customers and delivering enhanced customer experiences
- AI applications in retail helps to enrich in-store customer experiences.
- Artificial Intelligence for deriving patterns into customer-buying patterns and predict the future demand
- AI for defining the best price of the product
- AI apps to track abnormal behavior of users and predict data attacks
- AI in ecommerce would help to send personalized content recommendations to users. It will boost sales and improves customer retention rate
What Would Be The Future Of AI and ML Mobile Apps Development?
The emergence and significance of AI technology are going beyond our expectations. The role of AI in businesses across different verticals is anticipated to touch every part of businesses. The technology benefits are infinite in the coming years.
Hyena is one of the top custom AI mobile app development company. Our AI app developers have proven hands in the design, development, and deployment of mobile apps using trending AI technologies. We provide top-notch AI solutions for eCommerce, healthcare, education, manufacturing, and various sectors.