Benefits of AI as a Service Solutions
What is AI?
Artificial Intelligence (AI) is the capability of a computer to perform a task without explicitly being instructed. In other words, it is the ability to think and act rationally. AI mimics the capabilities such as decision-making and problem-solving of the human mind. In order to build an AI system, one must carefully reverse-engineer human traits and capabilities in a machine. AI benefits from domains such as natural language processing (NLP), and computer vision. NLP is the ability to read, understand and interpret a language. When a machine understands what the user means to communicate, it can respond accordingly. Whereas, computer vision is the ability to break down an image and study the different parts of objects. This helps the machine to learn and classify from a set of images. When all of these domains are combined, machines can make better output decisions based on previous observations. To be more precise, AI reduces human error, it is helpful in repetitive work, it can make faster and rational decisions, and it enhances efficient communication.
What kind of problems can businesses address by using AI?
AI has the potential to transform many industries. In other words, AI has made the world a better place by solving complex problems. Below you may find examples of how I, computer vision, and NLP help businesses address problems.
- Image recognition helps businesses in various ways such as automatic inspection in factory lines, generating damage estimates in insurance, counting people, overseeing manufacturing processes.
- Speech recognition is used in monitoring call center activities to make sure workers are following correct procedures, automating verbal translations for travelers, automating captioning for indexing videos, and automatically recording conference calls for better decision-making processes.
- Chatbots are another way of helping businesses to become more efficient in responding to frequently asked questions, taking orders or customizing responds to a given user. With the help of NLP chatbots are able to facilitate interactions, and respond to inquiries.
- Consumer queries are being resolved faster and more accurately. Adopting AI in customer support resolves the challenge of responding to consumers’ queries and resolving in time. creating virtual assistants helps businesses become much more effective in solving problems of customers and responding in time.
- AI helps preventing and tracing fraud by learning to recognize doubtful transaction patterns thwart card frauds.
Difficulties of developing an AI app
Even though, there are lots of benefits and advantages of integrating AI into your business, it can be tricky to implement. In order to develop an app using AI or integrate AI into a business, one needs a lot of resources. To be more specific, there is a significant increase in the products developed and it is becoming more difficult every day to find developers with the ability and knowledge to develop these products. Moreover, establishing a team to develop and integrate AI technologies is very challenging. Lastly, the R&D costs of developing the products increased drastically. As a result, the concept of “AI as a service” gained more importance.
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