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Artificial Intelligence Shows A Wide Range of Business Uses

Home  /  AI In Business   /  Artificial Intelligence Shows A Wide Range of Business Uses
Artificial Intelligence Business Uses

Artificial Intelligence Shows A Wide Range of Business Uses

Artificial Intelligence Shows A Wide Range of Business Uses

AI is not limited to a small set of applications, rather it is experiencing widespread adoption across a range of dissimilar business models. While IT Automation is the leading use case, real-world usage also includes Predictive Analytics, Customer Service, Marketing Optimization and Tax/Audit Compliance.

Artificial Intelligence Business Uses

AI is expected to become ingrained within all company operations in time, enabling these businesses to make optimal use of data in ways never thought possible or economically viable before the adoption of AI. Just as SaaS (Software-as-a-Service) became popular over the last few decades in the business world, Artificial-Intelligence-as-a-Service will do the same in the coming years, with AI-focused businesses offering their expertise to non-AI companies in order to boost metrics and improve profitability.

Move Over SaaS, AIaaS is Here!

Artificial Intelligence as a Service is projected to become an essential part of the enterprise software suite. The unique flexibility of AI allows AI-focused service providers to easily adapt their offerings to the needs of third parties, and do so for a fraction of the cost of developing the same software in house. AIaaS is already active in several areas, including Computer Vision, Customer Service, Predictive Analytics and Natural Language Processing.

AI has the potential to create its own ecosystem, where companies exist to help in the training and customization of third party AI models. Some companies even use AI to aid in the labeling of data to feed these third-party AI models training data. This is reflected in Mordor Intelligence’s prediction that AIaaS will be worth upwards of $22 billion in 2025, reflecting a CAGR of 45%.

Do you want to make better use of your data?

From automated tagging of media, including photos, videos and text, to advanced quality control via computer vision and beyond, Lucid has the AI toolset to help your business thrive. You are invited to contact us to discuss how we can help.