According to the Exploding Topics study, approximately 77% of companies are already using or exploring the possibility of implementing AI in their operations, and 83% say that AI is a key priority in their strategic plans. The main interest in AI is related to its business benefits, such as workflow optimization and efficiency gains. By the end of 2023, the global market for AI solutions reached $9.54 billion.
Today, using artificial intelligence in business is as important as having a corporate website was 10 years ago. Those who follow this trend will gain a significant competitive advantage and develop successfully, which is why many companies have already implemented AI technologies in their operations and have received significant benefits.
For example, Amazon uses AI to recommend products to customers based on their tastes and previous purchases. Artificial Intelligence is used by Google to enhance search results and personalize offerings, and by Facebook to evaluate content, identify platform rule violations, generate automatic captions, and identify faces. These are just a handful of the prosperous AI applications that have tremendously improved businesses’ market positions.
What is AI and how does it help businesses?
Artificial intelligence (AI) is becoming the basis of many modern programs, enabling them to show intelligence. It is worth noting that AI differs from the natural intelligence of living beings, so a program or device can only sense its environment. AI-based solutions can collect and analyze data and make decisions based on it to better achieve their goals.
Prominent examples of AI systems include:
Google's search engine
Recommendation engines on YouTube, Amazon, and Netflix
Siri and Alexa voice assistants
Tesla's unmanned cars
Non-Platformed Characters (NPCs) in video games
How AI can be used in business?
Data science
Artificial intelligence systems for data science specialize in analyzing large data sets, looking for correlations, identifying patterns, and drawing conclusions. Examples of the use of such systems to solve practical business problems include:
Customer segmentation and marketing personalization.
Improving efficiency in sales, marketing, or logistics.
Detecting fraudulent credit card or sales transactions.
Risk modeling for investments or lending.
Creating the most relevant recommendation systems possible.
Forecasting financial and other indicators.
Machine Learning (ML)
This type of AI allows systems to learn and improve based on experience. It allows conclusions and connections without strict algorithms. Typically, these solutions are used for:
Text recognition in chats, reviews, and articles.
Processing speech, gestures, and images of users.
Diagnosing diseases in patients.
Forecasting human behavior and market trends.
Classification of actions, processes, and objects.
Artificial Neural Networks
They are complex structures. They consist of digital neurons. These neurons process huge amounts of data and produce a single result. Neural Networks can self-learn. They apply to many fields, including:
Generating images, text, music and 3D models.
Writing and optimizing software code.
Classification and recognition of objects, faces, and speech.
Forecasting weather, market changes, and disease development.
Controlling moving objects (e.g., automobiles).
Economic and statistical modeling.
Robotic Process Automation (RPA)
“Software robots” perform routine tasks. They optimize business processes and employee work. Examples of such solutions:
Personal RPA assistants (business assistants) help with work tasks. They assist with document prep, time management, and meeting organization.
Data entry RPAs that recognize text and read documents. They automatically fill in the required fields. This is useful in logistics (e.g., customs). It’s also useful in government services and medicine (document scanning).
RPA systems automate manufacturing processes. They control equipment and transport in factories. For example, they process and distribute parcels at Amazon and assemble iPhones.
Intelligent chatbots
Chatbots improve the quality of customer service by freeing employees from routine tasks. Thus, smart AI bots replace call centers, support services, sales assistants, and personal assistants, and help achieve the following results:
Increase sales and marketing efficiency.
Reduce the load and costs on the support service.
Accelerate and improve customer service.
Personalize communication with customers.
Computer vision.
The process involves teaching software to understand and interpret visual media (photos, videos) for specific tasks. These tasks usually involve identifying and locating objects and then reacting to this information.
Removing the background in images or videos.
Identifying a user by face on a smartphone.
Avatar control in games such as Just Dance.
Recognizing criminals using city cameras.
Detecting diseases on x-rays
Artificial intelligence technologies increase efficiency, improve service quality, and reduce costs in businesses. Companies that use AI can better compete in the market and quickly adapt to changes.
Hire Dreambit AI/ML developers
Dreambit is an outsourcing solution that enables businesses to work with experienced AI and machine learning specialists. This is perfect for companies who need to rapidly close team gaps or speed up development work, since our offer will save you a lot of money when it comes to hiring an effective team for any project.
How does the outstaffing service work?
Dreambit selects AI/ML developers to meet your business’s unique needs. We ensure that each pro has the skills to solve specific problems.
Businesses can readily modify the amount of outsourced professionals following the requirements of the project. This enables you to cut expenditures and adjust to changing circumstances.
Dreambit can start working on projects on short notice, which greatly speeds up the development process and delivers results faster.
By hiring AI/ML developers through Dreambit, companies gain access to the latest technologies and tools, allowing them to stay competitive in the market.
Hiring skilled AI/ML developers significantly reduces the time required to create and implement innovative solutions and allows you to respond faster to market and customer requirements. And the cooperation model we propose allows you to avoid the significant costs associated with finding, hiring, and training new employees. Businesses get access to the necessary specialists without having to increase their fixed costs.
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