Technological advancements and innovation are the driving factors for exponential growth and market success in the world. Today, new technologies, software, tools and applications are at the heart of business processes. However, the software development industry is driving up these advancements using AI-powered tools and applications in order to automate and incorporate them within all business operations.
Virtually every industry is increasing its overall revenue by embracing AI and the benefits it provides. The downside to this implementation is the decreasing reliance on manpower. Some of the most notable adopters of AI automation tools are in sectors such as healthcare, e-commerce, finance, education etc. Most of the tech giants, especially those in the software development industry are at the forefront of adopting AI and business automation applications.
Artificial Intelligence – Old vs new concept
Artificial intelligence refers to computer software and systems that are able to learn, plan and solve problems in the same way humans do. Software engineers have been conducting research into AI applications and AI tools for a long time. This research has been instrumental in paving the way for the development of new algorithms and tools that have similar power and behavior as that of humans.
Let’s consider the artificial intelligence world that is expanding on its own in the software development industry. A great example of this is the AI bot. These automatic chatbots have been integrated into nearly 80% of all websites that manage customer queries and comments.
Whether it is E-commerce, Government agencies or the automobile sector, AI is making its presence felt in each business sector. Experts believe that AI bots will soon be deployed to manage more than 80% of customer service interactions 24×7. Another exciting innovation happening in the software development industry is the synergy between artificial intelligence, machine learning and deep learning.
Some Successful Applications of AI Automation Tools in the Software Development Industry:
- AI automation tools are capable of converting ideas into codes to drive up productivity within a software development company.
- AI testing tools increase the accuracy of software during the development stage and are crucial for identifying and fixing bugs and errors.
- AI marketing tools can manage customers and significantly outperform their human counterparts in making customer interactions.
- AI-powered tools are capable of creating safe and secure systems.
- There are currently many tools of AI available that can automate business processes.
- In the web hosting industry, AI has been leveraged to optimize the server.
- The AI development tools are impacting industries
Although we’ve mentioned that AI has been leveraged across almost all industries, there are some that have invested heavily and are experiencing the most benefits from it. These are:
Government and healthcare institutions have to manage massive amounts of data. AI is being leveraged to successfully mine data and discover the correct diagnosis and treatment patterns for several medical illnesses and diseases.
AI and ML have also been used to perform medical surgeries, medication management, drug discovery and more. Further experiments have shown that AI has tremendous potential applications within the healthcare industry.
Currently, E-commerce is among one the fastest growing industries in the world. E-commerce websites have leveraged AI for product recommendations, AI-powered chatbots and tools that target specific audiences to increase the E-commerce website’s sales and revenue.
Education & E-learning
A recent study reveals that the adoption of AI in the education sector is about to grow significantly. AI and machine learning can be leveraged to effectively and efficiently evaluate a student’s marked responses in multiple-choice questions. Additionally, AI can be used to create a personalized and effective learning path for students.
Banking & Finance
AI has changed the banking and finance sector considerably and might be leveraged to manage 20% of the total assets in the next five years. AI is ideally suited for this sector and can also be used to automate trading accounts. It can also be used to help companies make and recommend investment decisions.
Logistics & Transportation
AI has also made its way into transportation facilities. Using AI, automobile manufacturers are making their vehicles more robotic and self-driven. Also, AI implemented with new machine learning algorithms have been deployed to manage traffic flow. Autonomous cars are expected to make a huge impact on the market soon and are powered by AI as well.
The use of AI tools across these industries is playing a key role and setting records for remarkable business returns. Such AI-powered solutions are improving the lives of both, the customers and the businesses, as well as providing huge returns. Without a doubt, AI and ML are two technologies that are revolutionizing the software development industry and what’s fascinating is that it is still in an early stage. Moreover, AI is enabling software developers to automate business software and allowing them to reap more benefits.