Companies are increasingly turning to Artificial Intelligence (AI) solutions to boost their operations and stay ahead in their respective markets. With the increasing availability of data and technological advances in machine learning algorithms and natural language processing, companies are recognizing the strategic value of AI to optimize processes, improve decision making, and deliver personalized experiences to their customers.
Many employees are afraid that AI will replace their jobs, but it is really something very distant in the picture and various analyzes support this: For example, a report from Goldman Sachs published in 2023, indicated that despite the fact that two thirds of jobs could be partially automated with AI, the role of AI would be a complement, not a replacement for these jobs.
AI services offer a variety of turnkey solutions, allowing businesses to quickly implement artificial intelligence into their operations and that is why we created this blog, to tell you a little more about these AI services and how they could be useful for your business.
Statistics on AI adoption
The adoption of AI by companies is a trend that is on the rise. According to the 2023 Emerging Technologies Survey by PwC, at least 73% of US companies have already adopted AI solutions in at least some areas of their businesses, with the main tool being Generative AI.
“GenAI has made AI remarkably accessible and scalable. A single GenAI model can, with a little customization, work across many business functions and across all lines of business”, they noted in an article on the subject.
And companies' annual investment is also being directed primarily toward AI. In 2023, 25% of the budget of the companies surveyed will be invested in AI companies, according to data published by Crunchbase. “It can be argued that this trend will continue, given that artificial intelligence represents an increasingly ubiquitous part of the technology stacks of so many startups”, they highlighted.
Examples of AI services you can hire to boost your business
Intelligent virtual assistants
Intelligent virtual assistants are AI programs designed to interact with users naturally, answering questions, providing assistance, and performing specific tasks. Companies like Amazon, Google, and Microsoft offer intelligent virtual assistant services, such as Amazon Alexa, Google Assistant, and Microsoft Cortana, which can be integrated into business applications to improve customer service, automate common queries, and increase employee productivity.
“When our hands are full, we often resort to ordering digital assistants to perform tasks on our behalf. When driving, you can ask the assistant to call someone, for example. A virtual assistant like Siri is an example of AI that will access your contacts, identify the name of the person you want to call, and call the number. These assistants use NLP, ML, statistical analysis and algorithmic execution to decide what you are asking for and try to get it. Voice and image search work in a very similar way”, they explained in an IoT for All article.
Predictive analysis
Predictive analytics services use machine learning algorithms to analyze large amounts of historical data and predict future trends.
“For example, AI can be used to predict customer behavior such as churn, retention, lifetime value, and satisfaction based on their interactions, preferences, and feedback. This can help improve marketing, sales and service strategies, as well as offer personalized recommendations and offers”, they detailed in a LinkedIn article.
IBM Watson Analytics, Salesforce Einstein Analytics, and SAS Analytics offer advanced predictive analytics capabilities that can be tailored to the specific needs of each business.
Image and video recognition
The ability to recognize and understand visual content is essential in many sectors, from retail to medicine. Image and video recognition services use computer vision algorithms to automatically analyze and classify images and videos. Companies like Clarifai, Amazon Rekognition, and Google Cloud Vision offer visual recognition services that can be used for content moderation, product identification, and workplace safety, among other applications.
Natural Language Processing (NLP)
Natural language processing is a branch of AI that deals with the interaction between computers and human language. NLP services allow companies to analyze and understand large amounts of text efficiently, extracting key information and generating meaningful insights.
“You may not think of spam detection as an NLP solution, but the best spam detection technologies use the text classification capabilities of NLP to scan emails for language that often indicates spam or phishing”, explained at IBM as one of the uses of AI in this area.
Platforms such as OpenAI, IBM Watson Natural Language Understanding, and Microsoft Azure Text Analytics offer NLP services that can be applied in areas such as customer service, online reputation management, and knowledge extraction from documents.
Robotic Process Automation (RPA)
RPA uses software robots to automate repetitive, rule-based tasks, freeing employees to focus on higher value-added activities. RPA services can integrate with existing systems to automate business processes such as data entry, reporting, and order management. Through platforms like UiPath, Automation Anywhere, and Blue Prism, companies can create RPA solutions that can fit a wide range of industries and use cases.
Recommendation systems
Recommendation systems use AI algorithms to analyze users' past behavior and predict what products or services they might be interested in in the future. These systems are widely used in e-commerce, streaming content, and subscription services to personalize the user experience and increase conversion rates. Netflix, Amazon and Spotify have developed highly effective recommendation systems that boost their business models.
AI services offer a wide range of out-of-the-box solutions that can help businesses improve operational efficiency, deliver personalized customer experiences, and make more informed decisions. By contracting AI services, companies can take advantage of the advanced capabilities of artificial intelligence without having to make large investments in the development and maintenance of their own systems.
With a wide variety of services available on the market, it is crucial for businesses to carefully evaluate their needs and select the AI services that best fit their business objectives and overall strategy.
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