AI as a service (AIaaS) has been continuously automating business operations and constantly improving the customer experience, product quality, and employee efficiency. Moreover, with its fast pace of growth in the market, many new AI applications are coming to the market that organizations are looking forward to using.
AIaaS allows companies to leverage Artificial intelligence for data analysis, automation, and customer service. Hence, it’s being used as a marketing tactic by service operators and is expanding its functionalities and capabilities across the SaaS world.
Well, we never said that you need to be an expert to benefit from AIaaS, but let’s not wait any further because, in this article, we will show you the top ways you can benefit from AIaaS.
Top ways you can benefit from AIaaS without any technical knowledge
Let’s take a look at the top benefits of AI as a service:
1- Advanced Infrastructure
Strong GPUs were necessary to run machine learning and AI models many years ago. However, SMEs don’t all have the required resources and time to develop the software in-house.
Moreover, let’s not forget that there are a set of important rules in AI, and a primary one is that your model will be performing at its peak in handling tasks if the data you are using is of high quality. AI as a service is customizable, so it allows you to build a task-oriented model alongside the data you are gathering.
2- Process Automation
Human beings tend to get bored quickly from repetitive tasks by nature. However, AI doesn’t ever go through this phase. In fact, when human beings go through repetitive tasks, they may tend to make mistakes more often; however, this isn’t the case with AI. Statistics show that the margin of error in AI is only 3%, while it’s 5% in human beings.
So, in short, one of the common types of AI advantages is the automation of physical and digital tasks, particularly administrative ones that are automated with the help of robotic process automation technologies (RPA).
Likewise, RPA is more advanced than previous business automation tools since the technology has server codes that act just like a human and consume information similar to them. Here are some tasks that include RPA:
- Updating the customer’s files with any address changes or service additions
- Updating multiple records, handling customer requests and communicating with them, and replacing any lost credit cards
- Extracting information from multiple document types
- Reading documents with the power of natural language processing
Overall, RPA doesn’t require any technical knowledge, is a cheap option to go with, and brings an excellent return on investment (ROI). Also, it’s a perfect option for working on many back-end systems.
Many businesses might be scared in general to use AI and participate in RPA projects. You may ask why? It’s due to the popular belief that many may think it’ll put them out of work; however, according to reports, it’s just a myth. In fact, it’s the total opposite; AI itself is making jobs easier to do and letting them take care of complex tasks. Companies and organizations shifting towards a ‘robotic’ workplace are a whole different story.
However, right now, the level of AI still requires human intervention in some cases, but as technology evolves, some job losses might occur in the future. Time will tell everything!
Chatbots are part of AIaaS and use AI algorithms to simulate human conversations. Even though they still are incapable of having a human conversation with you, they combine ML and NLP capabilities to understand user requests and provide accurate responses.
Moreover, chatbots have evolved in customer care by improving their first-time response rates and improving response rates along with customer satisfaction. Human beings sleep, but chatbots don’t, so this means they can provide responses to customers 24/7 and automate routine tasks. However, customers ask questions out of the AI’s knowledge so human intervention is needed.
Nevertheless, natural language processing has evolved to a point where there won’t be much difference when you communicate with a human and a chatbot one day. Moreover, actors have come together to teach AI different dialects and languages, so AI will have the capability of understanding most of the requests.
An Application Programming Interface (API) is the software that allows two applications to communicate with each other. For example, we have the Google Maps API, which presents you with information on where you are, and thus, you can set a destination where you would like to go. Moreover, APIs are used for various cases such as natural language processing, conversation AI, and more.
5- Cognitive Insight
Another benefit of AI as a service is its cognitive insight. Thus, it uses algorithms to detect patterns in large data volumes and seeks to interpret the meaning behind them. Moreover, these machine learning applications are being used for the following applications:
- Analyzing customer behaviors
- Identifying any real-time fraudulent activities, including insurance fraud
- Analyzing warranty data to identify any quality issues associated with manufactured products
- Providing insurers with accurate information
Moreover, machine learning is a subset of artificial intelligence and enhances the overall performance AIaaS gives to companies. How so? Since they significantly differ from traditional analytics and keep getting better in providing qualitative data and making future predictions with it.
Additionally, the versions of machine learning, such as deep learning and more, can recognize speeches and images. Machine learning can also make new data do much better in analytics.
In short, cognitive insight applications improve AI job performance, tasks involving automation, high-speed data, and anything beyond human capabilities.
To tell the truth, most software as a service platform isn’t as user-friendly as they claim to be. Moreover, because you have many AI options that are open-source and free to download, they aren’t as easy to develop and install. Comparatively, AIaaS is ready at all times for usage, and thus, users can use the AI software without any level of technical knowledge.
For instance, MI services (Xiaomi) include a set of pre-built modes, custom-created models, and drag and drop interfaces to reduce any complexities. What’s beneficial about this? You can start any ML project in a couple of hours without having engineers with you!
7- Data Labeling and Classification
Data labeling is an important step in organizing your data, avoiding any complexities, especially when it’s a large volume of data. Data labeling has a range of use cases, such as:
- Categorizing data by size
- Enhanced AI training
- Data quality
- Data reorganization and more
Furthermore, we also have data classification, which is when data is tagged under a single category or multiple ones. Classifications include context-based, user-based, and content-based. With the help of AI as a service, we can classify data on a larger level, considering that the data classification criteria and outline are defined properly.
For example, we can separate data classification into four types:
- Public: data on your website, published research, and more
- Internal: email, business records
- Sensitive data: private user data, intellectual property, sensitive internal information
- Restricted: Protected health information (PHI)
Overall, AI as a service was built for scaling a business. Unfortunately, as your business grows, it doesn’t mean there’ll be fewer things to handle, and many companies fall into the trap of not making their model scalable. However, if you funnel the correct emails to the right person, you’re already ahead of your competition.
AIaaS was created for performing tasks that require a certain level of cognitive judgment, so use it to your advantage!
Well, that’s about it for this article. These were our top ways how AIas a service can help your business and the advantages it provides. As you saw for yourself, what is beneficial about AIaaS is that it doesn’t require you to have any technical knowledge. Its high level of natural language processing and advanced data analytics allows you to get the best out of the data you collect and thus, allows the AI to do the hard work for you.
Nevertheless, AIaaS also provides long-term cost efficiency for you, considering that it’s flexible and scalable in task performance. So, if you are worried about boosting your businesses’ productivity levels, dealing with advanced data analytics, and offering 24/7 customer support, AIaaS helps you in doing so.
Last but not least, consider what your business can do to implement AI solutions into your everyday task operations. After all, it will be worth it in the long term!