Artificial intelligence isn’t a brand new concept; it has been around for decades. It is just that it has become mainstream only in the recent past, owing to the brilliant progress the world has made in this context. The evolution has been so transformative that it is virtually impossible to imagine an industry that doesn’t make use of artificial intelligence today. It has had an equally important role to play when it comes to enterprise applications, helping companies to achieve much more than before, delivering high quality, personalized experiences, and produce a significantly better bottom line.
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Moreover, if you are wondering how artificial intelligence can do that, well, the simple answer is: In more ways than you and I can count. For example, the scale at which artificial intelligence can process and, well, understand an enterprise’s data is other-worldly. No, seriously. It, in turn, can make it unimaginably easy to glean insights and make data-driven and informed decisions aimed at ensuring the business’ growth. Also, as more and more enterprises across a broad spectrum of industries embrace AI for their applications, it becomes imperative first to understand the factors that currently affect the advancement of AI in this context.
- The massive amount of data being generated: If there’s one thing you should know about artificial intelligence, it is that one needs a boatload of data to train artificial intelligence to offer enterprise-level insights and predictions. Moreover, now that the market has a variety of tools to help organize data as well as the general accessibility of data, enterprises have gained the ability to process the data required for training AI algorithms.
- Highly potent and economical computing power: Thanks to both the range as well as profusion of commodity computing supply in the cloud, enterprises are now able to gain access to cheap and cheerful albeit still highly potent computing power. Before the widespread and much easier availability of such computing power and that too without exorbitant costs associated with it, the only computing environment options available to an enterprise for artificial intelligence were not only not based in the cloud but were also impossibly expensive, making them impractical options.
- Increased adoption of AI in the enterprise: Enterprises now see the potential of AI when it comes to achieving an edge over their peers. This why now everything, from e-commerce stores to resource planning has AI enterprise applications. Also, the growth is expected to drive an increase in revenue delivered by AI enterprise apps to as much as $31.2 billion by 2025.
The potential of artificial intelligence to transform enterprises is evident, and yet we see far too many organizations fail to tap into the possibility of AI and machine learning. Nonetheless, AI continues to become an increasingly integral part of enterprise apps. So if you too wish to leverage this technology’s potential, we highly recommend hiring relevant experts to assist the development of enterprise software for your company.