Get ready for the emergence of AI-as-a-Service

#News(General) [ via IoTGroup ]

Headings…

Get ready for the emergence of AI-as-a-Service
The AIaaS opportunity
Vertical adoption
Empowering data
Layering insights for better outcomes
Assisting humans at a moment’s notice
The place for AIaaS

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According to recent research, AI-based software revenue is expected to climb from $9.5 billion in 2018 to $118.6 billion in 2025 as companies seek new insights into their respective businesses that can give them a competitive edge.
But, there is tremendous complexity involved in developing AI and machine learning solutions that meet a business’ actual needs.
Developing the right algorithms requires data scientists who know what they are looking for and why in order to cull useful information and predictions that deliver on the promise of AI.
AIaaS is gaining momentum precisely because AI-based solutions can be economically used as a service by many companies for many purposes.
Those companies that deliver AI-based solutions targeting specific needs understand vertical industries and build sophisticated models to find actionable information with remarkable efficiency.
As these companies continue to grow and mature, expect to see AIaaS surge, particularly as vertical markets become more comfortable with the AI value proposition.
Organizations that operate within vertical markets are often the last to adopt new technologies, and AI, in particular, fosters a heightened degree of apprehension.
These numbers will likely balance out once verticals realize the areas in which AI and machine learning technologies can practically influence their business and day-to-day operations.
An AIaaS provider with knowledge of a specific vertical understands how to leverage the data to get to those meaningful insights, making data far more manageable for people like claims adjusters, case managers, or financial advisors.
In the case of a claims adjuster, for example, they could use an AI-based solution to run a query to predict claim costs or perform text mining on the vast amount of claim notes.
Machine learning technologies, when integrated into systems in ways that match an organization’s needs, can reveal progressively insightful information

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