Ready for Artifical Intelligence to Drive App Development?
Learn ways the introduction of artificial intelligence drives the cost of app development down and helps you increase consumer engagement and improve profits.
To fully implement data-driven strategies for your business requires the employment of costly data scientists to analyze different types of data provided from your consumers (i.e. preferred products, method of payment, best contact method, etc.). This reliance on data scientists is a necessary cost of business which results in the development of consumer-driven apps. The result is certainly desirous for your business but there may be a way to reach that end at a cost that is lower than what you spend today.
This is where the introduction of artificial intelligence (AI) to your business comes to play. AI is taking a more prominent role as the driver of app development, taking work from the data scientists and moving it to professional app developers, who are less costly. It is important to discover why AI-driven development is a technology trend, which businesses should understand and adapt to reduce their reliance on professional data scientists and toward more agile, less costly app developers for greater profitability.
The Importance of Artificial Intelligence to Your Business Bottom-line
AI-driven development gives your company access to algorithms and models that have been developed in an “open-source” environment available for your business to use. This toolbox approach to development allows you to plug-and-play those elements relevant to the solution you are creating for your customers. Testing and modeling take place in this environment on a less costly basis than with professional data scientists. This automates the process of app development and helps you deliver solutions to your consumer in a quicker timeframe and cost-effective basis.
How AI Can be Utilized as a Benefit to Your Business
AI can be incorporated in your process in one of three ways:
- As an AI-assisted tool added to tools created by artificial intelligence, such as a sales or team management tool that is AI-driven.
- As an AI-augmented or enabled solution. This use of AI is familiar to most of us in the form of recommendation engines that are embedded in popular content streaming services such as Netflix or Hulu. AI aggregated information collected from the customer (i.e. content preferences, genres most selected, etc.) and returns, unassisted, a set of values that matches that consumers’ preference for further/continued engagement.
- As an AI-driven solution, such as autonomous vehicles being tested in California and elsewhere throughout the solution as a solution to traffic issues and the needs of commuters.
Each of these methods of incorporating AI (AI-assisted, AI-augmented/AI-enabled, AI-driven) have always been with us in some form or another. As technology improves and AI becomes more independent (interdependent) of developers and data scientists, you may find yourself relying on them more and more to help drive business decisions. This is because AI has the capability to learn and evolve, providing you with new insights and ways to employ AI because of things you are being shown or advances in technology which enhance or uncover a dormant AI function.
Harnessing the Power of AI for Business Good
How far AI and AI-driven solutions will take us is limited only by our imaginations as business leaders. It is easy to become myopic in our view of the value AI brings but must understand that artificial intelligence is not a static, but dynamic property. The toolbox created from AIs previous experiences offers your business a boon for the future, removing the extensive hours of analysis and modeling performed by humans (data scientists) and replacing it with proven models that can be picked up by app developers and repurposed for new consumer-driven results. Companies who adopt a start-up mentality as it relates to AI and its potential for success will fare much better than those with a singular view of artificial intelligence and its contribution to potential profitability.