The future is already here. Artificial intelligence (AI) is one of the most significant technologies in the world today, impacting almost every aspect of our lives. Not only are big data companies like Google and Amazon using it, but more and more small businesses are starting to use AI to help them analyze their data and make better business decisions.
Leading market analysts forecast that the global AI market will reach $1.8 trillion by 2030, with a compound annual growth rate of 38.1% between 2022 and 2030. In this article, we review trends in AI adoption that are likely to have a significant impact on businesses in the coming years:
AI-as-a-Service is a cloud-based platform that provides AI technology to businesses. The AI tools available on the platform are provided by third-party vendors who have built and pre-configured them according to industry best practices. AI-as-a-Service allows businesses to access these tools without having to build their own and integrate them into existing systems such as CRM or ERP platforms.
As a result, this type of solution can be very cost-effective for SMEs that want access to advanced machine learning capabilities but do not want to invest in staff training or in-house software development. This model is particularly popular among financial institutions looking for ways to improve their risk management strategies – a study estimates that by 2022, more than 80% of global banks will have adopted some form of artificial intelligence.