A Brief About the Extensive Use of
AI for Enterprise Applications
Since the last decade, Artificial Intelligence (AI) has become a key technology of enterprise applications (EAs) and a core component of successful business plans. With several AI interventions in businesses, enterprises now can fulfill far more in less time and effort. Enterprises can create a personalized, compelling customer experience and drive more relevant and highly profitable outcomes. Use of AI for enterprise applications has become essential for business growth and its operations. AI technologies are widely integrated into the retail, supply chain, IT operations, financial, and even legal services.
Know the top uses of AI in enterprises
According to a recent report by McKinsey Global Institute (MGI) in 2016, global tech giants such as Microsoft, IBM, Amazon, and Apple spent nearly $30 billion only on AI-based technologies, with more than 90% of their total budget allocated for R&D wings.
AI-powered quality assurance and quality control
Manufacturers have been using AI-like immersive technologies for decades. Additionally, they are now advancing their deep learning capabilities to enhance the accuracy and speed of their quality control and quality assurance software and keep in check.
All such systems are offering ever-improving and more precise quality assurance functions, as deep learning models generate their business rules to identify what defines quality.
Protecting all IT aspects through AI
With the increasing global remote working decision-making in IT has become more democratic, businesses can't neglect the increasing threat of online threats. To fight against such cyber threats and protect all IT infrastructures, enterprises focus on deploying applications that embed AI and machine learning to identify possible vulnerabilities and threats in real-time.
According to Gartner, "About 70% of enterprises will integrate artificial intelligence by 2021 to support productivity and efficiency of their employees."
Additionally, Harvard Business Review warns enterprises that are still waiting to adopt AI. These types of predictions are pushing manufacturers to rethink using AI in their enterprises.
Better optimize the supply chain with AI
Lots of organizations are rapidly investing in AI-enabled supply chain management applications. These applications reduce costs, anticipate specific issues, recover from supply disruptions, and enhance just-in-time deliveries.
By integrating AI-powered analytics, software enterprises can forecast to create a resilient supply chain and generate more valuable recommendations. Such circumstances include supplier risk analysis, identifying out-of-stock situations, demand prediction, and stock visibility.
Simplifying vendor billing with AI
Indeed AI can simplify financial operations in enterprises. Additionally, traditional image recognition or Optical Character Recognition (OCR) systems that identify data from packages, or template documents, AI-powered bill management software can look at any such document and unzip all essential information.
AI for targeted marketing
Online retailers, digital marketers, and other online utilities utilize intelligent software systems to understand their customers, online searches, and buying patterns; therefore, they can easily promote their products on the web. Also, AI assists in getting the target market in the real world.
Some enterprises have begun integrating immersive and intelligent technologies incorporating geospatial software and facial recognition along with data analytics, utilizing the technologies to initially identify their customers and advertise their services, products, or sales intended to match their behavior and preferences.
High-performance and affordable computing pool
The excess computing pool in the cloud enables effortless access to high-performance and low-cost computing power. Before using AI, and tech advancement, cost-prohibitive and non-cloud-based systems were only the available environments for AI.
AI and more productive learning
The potential impact of AI on education is vital, with several enterprises already exploring or utilizing intelligent software systems to enhance how people learn and act.
Similarly, Omdia | Tractica assumed that global revenue from AI software would grow from $10.1 billion in 2018 to $126.0 billion in 2025, led by technological advancement in growing deep learning and other immersive technologies.
There are several ways AI makes learning better; nothing is here that AI can't do in the early and final stages. Intelligent tools and software can be utilized to customize educational plans and to make learning easier and impactful.
AI can fulfill the unique needs of students and the understanding level they need. Enterprises can also benefit from AI-based training software to enhance the productivity of their employees.
Natural Language Processing (NLP) to improve business intelligence
As NLP and AI technology improve, the computer will better understand delivering answers for raised queries and search results. In this way, Chatbots will take more typical queries and provide a large amount of data to analyze.
However, once it understands the inferences and semantic relations of the queries, it will automatically perform the date filtering, and businesses require offering an intangible reply rather than simply providing data.
One cannot avoid the power and role of AI-powered software and applications in driving improvements in efficiency, speed, and quality within organizations. It can be overwhelming for enterprises to turn their systems and operations overnight; starting the AI pathway with low-hanging fruits is a good start for your business.