AI-As-A-Service: The Biggest Trend In Artificial Intelligence Solutions

 


AI or artificial intelligence has been impacting almost every aspect of our lives. Predictive statistics say that by the year 2030, artificial intelligence services would elevate the global BGP by about 14%. While this proves that AI is set to shape the future of business, predictions can only become real if:

  • AI is successfully implemented
  • Businesses capitalise on AI trends

AI implementation

Careful analysis of measures taken to implement artificial intelligence shows that AI has yet to reach its true potential because of certain common issues like:

  • Improper infrastructure and unavailability of expert talent
  • Data issues
  • Underinvestment etc

Those companies that have undergone the required digital transformation have seen a significant increase in business value. Hence, to implement AI solutions properly, a new concept known as AI-as-a-service or AIaaS is all set to roll out this year. The fundamental aim of this concept is to bring the benefits of AI to businesses of different, types, services and sectors but at a reduced investment.

AIaaS seeks to incorporate AI services within the SaaS or software-as-a-service business model. This will lead to greater efficiency where customer insights are concerned. With AI advances taking place at breakneck speed aided by the 5G and blockchain technologies, it is paving the way for more innovations like IoT, real-time analytics etc. Today, AIaaS is no longer a luxury; it is a necessity because:

  • The realisation of the benefits of AI are prompting many businesses to opt for it
  • The AI implementation needs an extensive ecosystem for its optimisation
  • Businesses are transforming gradually but steadily from the traditional commercial model to become digitized with optimised and streamlined business processes enhancing efficiency and profitability
  • Many small companies are unable to capitalise on growth opportunities since AI implementation is currently expensive but with AIaaS, these companies can also reap the benefits of ai services

Capitalising on AI trends

The implementation of AI does guarantee a level of success and efficiency for a business. Nevertheless, to ensure consistent growth and profitability, businesses need to capitalise on upcoming trends like:

  • Robotic process automation or RPA: This is an evolving technological process whose benefits are yet to be fully realised. Implementing RPA helps businesses to automate crucial business processes so that they are governed by organised inputs and sound business logic. These processes become more efficient and error-free thereby leaving the business workforce to concentrate on other vital high-value work aimed at building a better client list, improving revenue generation etc.
  • Better collaboration between AI and cloud: The adoption of cloud-based services is already benefitting e-commerce in innumerable ways. Combining this with the power of AI will make it easy to manage and monitor:
    • Cloud resources efficiently
    • The humongous amount of data generated
  • Popularity of AIOps: Technological advances have increased the complexities of IT. Hence, vendors are ideally looking at platform solutions that combine monitoring disciplines like infrastructure, application and networking. The co-working of IT with other teams associated with different business processes forms the base of the upcoming AIOps solutions. These solutions aim at improving key business aspects by empowering cross-team collaboration and providing them with:
    • End-to-end digital experiences
    • IT ops management tool-chain integration
    • Data correlation
  • AI and data structuring: The amount of data generated will increase in the future. Managing this data will require the enhanced use of artificial intelligence consulting services for successful incorporation of machine learning or ML processes and NLP or natural language processing. This will result in enhanced structurisation of unstructured data. With RPA being one of the fastest-growing concepts of IT, the availability of structured data will aid its progress.
  • Focus on ethical AI: The future is all set to see expert solutions being deployed by leveraging AI to:
    • Solve most global issues
    • Stimulate economic growth by facilitating innovation
    • Ensure inclusion
    • Adopt diversity

With so much at stake, it is natural for world organisations and other companies to adopt ethical AI practices like algorithm fairness and data transparency.

AI trends are based on the analysis of the problems faced in the past and the need to implement solutions free from these issues. However, with AI becoming more explainable, augmented processes becoming increasingly popular and enhanced adoption of intelligent processes that are voice and language driven, businesses will see real-time ROI. Further benefits would also ensure business process efficiency and greater profitability.

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