Artificial Intelligence As A Service Platform Development: The Future Is Here

• By Sophia Mills
• 07-06-2023
• Artificial Intelligence

AI is at the top of the game right now. The sudden uprise in artificial intelligence has forced several businesses to invest in AI-enabled devices and make them available to the common people. Much excitement is growing in the AI domain, not only from the business perspective but also from the customer's point of view.

The key players in the tech industry, like Apple, Google, and IBM, had already anticipated the boom in AI. That’s why they were more persistent towards big data. The application of AI is felt in navigation, auto-correction, digital assistants, etc. The contribution of AI has now compelled companies to use AI as a service (AIaas).

What is AIaaS?

AI was introduced to ease the life of people by performing daily activities similar to that of humans. The machinery and equipment a few years back were extremely bulky and cost huge. But now, with the introduction of futuristic technologies, the tools and software used are lightweight and are available at affordable prices. The companies are working towards providing exceptional services to individuals through artificial intelligence as a service (AIaas).

The concept of AIaas is the same as that of SaaS, IaaS, and PaaS. This is provided by a third party. This also represents a cost-effective way of AI development.

Are you interested in developing the AIaaS platform but don’t know how to go about it? Don’t worry; just sit back, grab some coffee, and go through this entire article. This will give you information about AI and its real-life examples.

Facts Pertaining To AI And AIaaS

• As per New IDC Spending Guide, The spending on AI is predicted to double in the upcoming years, which is nearly $110 Billion in 2024.
• The market size of AIaaS is expected to grow by $15.14 billion at a CAGR of 48.22%
• The key AIaaS Market Vendors are Alphabet Inc., Apple Inc., Intel Corp., Amazon.com Inc., IBM., Microsoft., Oracle, etc.
• The CAGR forecast growth in multiple categories of the AI market is;
• AI System Infrastructure Software- 14.1%, AI Hardware- 20.5%
• AI Services- 22%, AI Business Services- 21.9%, AI platforms- 34.6%

How Does AI Work?

It is straightforward to test out multiple public cloud platforms, services, and machine learning (ML) algorithms with AIaaS's ready-to-use platforms and ease of setup. Robots, computer vision, cognitive computing, ML models, and natural language processing (NLP) are just a few of the technologies that fall under the umbrella of artificial intelligence (AI).

Machine learning algorithms, the main AI tool, are a group of rules or techniques that are typically employed by a computer to compute or solve a problem. Computers typically employ either in-depth data analysis or the formulation of generalizations and statistical projections to solve problems or give decision-making abilities.

Deep learning algorithms, which employ deep neural networks, and machine learning algorithms, including regression and classification, are the two main categories of AI algorithms that are usually distinguished.

Examples of AI as a service

Google Cloud AI

The most commonly known example of AI as a service is Google Cloud AI which offers ML services to create its own customized models. This has enhanced accuracy with quality training performance that is customer friendly, swift, and scalable. The application of cloud ML can be seen in the Google app-translation, photos, inbox, voice search, etc. This aids in the matchless speed and scalability of various business apps. There are numerous opportunities available for developers and users to develop superior solutions.in short, the high-quality, fully tailored machine learning models are instructed through ML expertise with reduced effort.

IBM Watson

The savior of businesses is IBM Watson which provides ultimate solutions to businesses. It assists them in foreseeing future results, simplifying difficult processes, and making employees time effective. Simply spelling, this AIaaS brings futuristic tools and technologies to help them manage their data in the best possible way. Watson Assistant and Watson Natural Language Understanding are IBM’s virtual assistants that solve complicated tasks in a shorter time.

Microsoft Azure

This is another great example of AI as a service, which is basically a cloud computing platform. Microsoft Azure provides AI/ML solutions to developers with multiple AI potentials, such as deep learning, Computer Vision, Natural Language Processing (NLP), etc. These functionalities are added with the help of Azure Cognitive Services, and along with this, there is an Azure Bot Service that develops several bot types.

MonkeyLearn

MonkeyLearn is another AI platform that helps make text analysis convenient via no-code tools. There are business templates that are specifically made for analyzing text models. Some of the pre-trained models help in identifying the keywords in the data and survey analyzer to segregate the customer response topic-wise. The data is uploaded and analyzed, and insights are attained. Pick the best-suited template as per your data type. This is conveniently connected to business intelligence tools and applications via API and SQL.

Role Of AI In Today’s Scenario

“Predicting the future is not magic; its artificial intelligence” - Dave Waters

AI is at the pinnacle and is not going to budge anytime soon. The advantage of AI is massive data processing, enhanced decision-making, and maintaining precision while performing tasks. Technology is taking the lead, and so is its application. AI has been a part of our regular lives, just like smart devices, smart dashboards of cars, and the use of robots in every industry. Digitization has played a key role in expanding AI by enabling massive data processing and task automation. AI is in great demand right now. It has found its use cases in various industries like e-commerce, healthcare, pharma, entertainment, banks, e-commerce, and more, thereby impacting business.

Classification of AI

AI is broadly classified into two main categories;

• Based on capability
• Based on functionality

Based On Capability

• Narrow AI: It supports Weak AI as it cannot focus on the task after reaching its constraint points.
• General AI: It helps in comprehending the tasks that a human being also can do.
• Super AI: It performs operations beyond human intelligence, i.e., better than humans.

Based On Functionality

• Reactive Machine: It functions on the present data and does not store past memories.
• Limited Memory: Here, past experiences are used to make future decisions, but this data can be used for a limited time period.
• Theory of Mind: It includes futuristic technology that can change the behavior and feelings of the individuals within an ecosystem.
• Self Awareness: This form of AI does not exist in reality, but hypothetically they have feelings of their own.

Top AI Examples

Virtual Assistants

These were developed to perform the task based on the human’s behalf. These are mostly voice-controlled, for instance, SIRI, ALEXA, or making calls on behalf of the driver in the smart vehicles. It uses NLP, advanced algorithms, statistical analysis, machine learning, etc., to solve the issues.

• In E-Commerce

Several times we feel that search engines recommend people about their favorite products. This is due to the artificial intelligence that helps build customer engagement. AI just browses through the individual's history and identifies their interests. Moreover, AI-enabled assistants help enhance the user experience. Every big e-commerce platform is using these chatbots to help customers while performing shopping.

• In Education

Artificial Intelligence also has its branches in education. There has been a paradigm shift in the education realm due to AI. It may not be that rapid, but slowly it will penetrate the entire education sector. The productivity of the faculties will be increased as their time will not be wasted in curating the tasks, handling enrollment, PTM (parent-teacher meeting), grading, etc., instead will be more focussed on the students. AI also generates smart content like intuitive animations and video lectures designed for students. An extensive learning experience is created that helps in grasping the topic easily.

Chatbots

To tackle customer-related problems, chatbots were introduced. Before that, companies had hired customer service professionals to answer queries. But more time was invested in such situations, sometimes resulting in excess time consumption. AI-enabled chatbots help in real-time answering and solving problems. Not only in answering, but these are also helpful in tracking the orders. The latest versions of the chatbots do not even require a proper input pattern. If the customer is unsatisfied with the outcome, the bot analyzes and corrects the mistake after receiving the feedback. This way, customer satisfaction is considered, removing chances of error.

• ChatGPT(Generative Pre-trained Transformer): This chatbot is developed by Open AI, the latest in the series, and generates human-like content instantly. The content is almost error-proof and is designed for the content creators to save time. Also, it gives answers, writes poems, and is compatible with multi-languages.
• Bestseller: This is the best retail chatbot that includes fashion brands such as ONLY, Vera Moda, and Jack & Jones. This AI chatbot answers the requests of the customer 24*7 to manage the customer’s series of requests. This is a bilingual chatbot that answers in English and French via its own e-commerce website or FB messenger.

Facebook Messenger channel.

Navigation

The confusing roads and remembering lanes are quite a task. The human mind cannot remember everything. Maps come to the resume in such situations. These AI-supported navigation applications are available for both Android and iOS. AI enhances how traffic congestion is analyzed and quickly informs users about taking another route. Initially, satellite-based navigation was prevalent, but now AI has captured the market. The algorithms present in the ML have the advanced feature of accurately remembering the house numbers and borders of the buildings.

• Google Maps Driving Mode

Navigation has become the ultimate part of AI. The information related to the destination is instilled in the application that gives the fastest route. In its recent announcement, Google made an announcement related to the AI-powered maps that will encompass the Live View feature, integrating augmented reality. This will use deep street-view images of important landmarks and buildings. It will also include functionalities that will limit the carbon footprint by giving accurate information about road congestion and identifying ways to reach yours by using public transport or bicycles.

Automatic Driving Cars

A new era of self-driving cars is widespread. This is possible only because of AI. All the safety features are fixed, taking into consideration the AI-powered devices. This automatic vehicle aids the drivers to perform driving without any consequence. These have powerful sensors that drift vehicles from obstruction and enable safe driving.

• Tesla: The most popular real-life example of a self-driving car is Tesla. It was manufactured to provide a smooth driving experience and maintain sustainable energy. It is purely environmentally friendly because there is no emission of pollutants. Tesla is an effective low-maintenance vehicle and generates better performance.

Banking And Finance

The banks and customers have a never-ending relationship. The amount of work that banking employees do is insane. There is a lot of pressure and loads of banking activities that need to be performed too with great precision. Banking has no room for errors or mistakes because it involves money. The transaction takes place within the country and abroad.

• Citi Bot SG: This chatbot helps the customers respond to the queries corresponding to the customer's accounts. They provide information related to the account balance and payment-related information via credit/debit cards. These are the miscellaneous tasks that interrupt the basic functions of normal transactions.

Conclusion

AI is the future. Today it is in its infant stages, but in the future, it is going to completely surpass human intelligence. It is a boon to uplift productivity in various domains. Supremely advanced AI techniques and software are helpful in reducing infrastructural and development costs. Tech companies are working keenly towards replacing manual jobs. What will be more interesting to see is how artificial intelligence is going to create opportunities on a larger scale.

Artificial intelligence is getting a lot of attention in the IT industry and doesn't seem to be slowing down anytime soon. Machine Learning and Deep Learning, this technology is changing many parts of the business world by making them more efficient, effective, and focused on the most important tasks.