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Artificial Intelligence as a Service (AI SaaS) Is Here to Stay

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The pandemic impacted not only how we lived, but also how we worked. We’ve seen how going to work or school every day has changed to getting up every day and sitting in front of a computer has become our reality.

Artificial intelligence and cloud solutions were two prominent technologies in the last two decades that appeared to be the next big thing. And now, thanks to the epidemic, this has become a reality.

“AI is currently used by a third of IT organisations around the world,” according to IBM’s Global AI Adoption Index.

According to the same poll, 43% of SaaS organisations have increased the deployment of AI technologies. This was only conceivable because there was no other option except to accommodate the lockdown and work-from-home conditions.

As a result, legacy approaches have been phased out in favour of new automated AI-powered alternatives.For those of you who are unfamiliar with artificial intelligence, let me explain.

“Instead of the natural intelligence displayed by people, artificial intelligence is intelligence or comprehension demonstrated by bots.”

Artificial intelligence has advanced to the point where we can now interact with devices like our phone in our local language and find solutions to our problems rather than the difficult, pages-long code of the past few decades.

“I see [AI] as a game-changing enabling technology.” It’s similar to fire, electricity, or the internet, but I believe it’s far more profound.” In a recent BBC podcast, Google CEO Sundar Pichai said:

With conversational AI, artificial intelligence altered not only customer service, but entire business processes. Getting more done while working smarter has become a reality thanks to other AI-based products such as conversation intelligence, AI-powered CRM and Dashboards, forecasting and diagnostics tools.

However, the pandemic was not the only cause driving the adoption of AI solutions; a number of other variables led to us conversing with chatbots or virtual assistants on a daily basis.

What is the purpose of Artificial Intelligence?

True, AI solutions not only increase but also boost the accuracy of every task. However, this is not the only reason for its broad popularity. Let’s have a look at a few of them:

Automation

The monotony and repetition of most commercial duties, whether in sales, marketing, finance, or any other industry, is an undeniable yet significant aspect. AI can easily automate any monotonous operations, saving firms a significant amount of time.

Suki.ai, for example, allows doctors to take notes vocally rather than writing them down for future reference, or uses a chatbot to solve consumers’ recurring problems such as account updates.

User-Friendliness

Users will find it easier to employ AI-based solutions because they are intuitive. Setting up Alexa updates for your order fulfilment, or a newsletter for your prospects, for example.

Integrations that occur just once

The best aspect about these AI solutions is that they just need to be integrated into a company’s procedures once to get the benefits.

Affordability

In comparison to two decades ago, technology has improved significantly. As a result, the cost of AI-based solutions has decreased. As a result, even startups can now afford to install an AI-based stack to meet their needs.

It is self-serve

According to a recent survey, 67 percent of respondents chose self-service. The number of customer assistance and retail solutions has expanded as the market demands self-serve tools and services.

Let’s take a look at the most widely used AI solutions in COVID-19, which are here to stay.

Artificial Intelligence solutions Adopted

Who hasn’t heard of Amazon Web Services and Alibaba, two cloud computing platforms that AI solutions have adopted?

Cloud computing

Cloud computing software allows users to access on-demand computer software resources such as data storage and processing power without requiring direct active control.

Artificial Intelligence that converses

Apart from Alexa and Amazon Assistant, the number of chatbots and virtual assistants on the market has increased by more than twofold. And it wasn’t just for customer service; it was also for sales, lead generation, and removing repetitious internal question resolution. Haptik, Verloop, Drift, and IBM Watson are some of the market’s prominent companies.

Intelligence in Conversation (CI)

Conversation Intelligence, which is powered by AI, has become another prominent market demand. When you work from home, the only method to communicate with your internal team or a potential client was via Zoom, Google Meets, or other video conferencing tools.

Solutions for Forecasting

Forecasting sales is a difficult endeavour in and of itself. Consider it: you’re tracking sales, listening to common discussions, and keeping an eye on market trends.

By tracking transaction cycles, patterns, and the company’s spending trend, sales forecasting software aids in the planning, budgeting, and forecasting of expenses and income. Salesflare, Smart Demand Planner, and Place Technology are some of the market’s key participants.

Automated Procedures

AI-based solutions for automating repetitive and tiresome processes, such as manually entering leads into a CRM or sending out notifications and updates, are becoming more popular. Zapier and Automation Anywhere are two well-known examples.

Cloud-based CRM

Cloud CRM is CRM software that is housed on the CRM provider’s servers in a data centre and accessed through an internet browser rather than a personal computer. Salesforce, Freshworks, Hubspot, and Pipedrive are some of the most popular CRMs.

Artificial intelligence has the ability to alter not only business processes, but our everyday lives as well. For instance, what used to take hours and hours of waiting in a call queue can now be accomplished fast by conversing with a virtual assistant.

Similarly, Conversation intelligence can easily perform what used to take an SDR many hours of work to make meeting notes and conduct market research for a single meeting.

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