Artificial Intelligence: What It Is and What the Benefits Are
The business sector’s adoption of AI software is accelerating at a fast pace despite a relatively small number of specialists in the field. The tech is still new, with the Global AI Talent Report of 2019 stating there were still only 22,400 dedicated AI experts in the entire world.
That number will of course have increased significantly over the past year or so, and projections for the AI software market are quite stunning considering we are still in the infancy of the technology.
Global Revenue Projections for Artificial Intelligence Software
As more and more businesses incorporate AI software into their operations, it will encourage yet more to adopt the technology. Research organizations have published various reports projecting the worldwide AI software market will reach well over $100 billion in annual worldwide revenue by 2025.
The Global Artificial Intelligence Study, PwCOver, forecasts that the global AI market could generate over $15 trillion worth of economic activity over the next decade.
This obviously gives most businesses a dilemma about finding the talent to enable them to integrate the AI software in the first place. Attracting and keeping such talent will be next to impossible for many businesses, especially start-ups and SMEs.
There is a ready-made solution to this dilemma in the form of outsourcing, with many IT specialist firms boasting the necessary skills and AI expertise on their teams. For companies that like to keep everything in-house, there is the real risk of being left behind by competitors who get on board the AI software train early.
Let’s look at the business benefits of integrating AI software.
Business Benefits of Artificial Intelligence Software
As well as saving time and money by replacing manually operated systems with automated software, AI lets you automate many other routine tasks and processes which in turn helps improve the efficiency and productivity of human employees. Not only are they more productive but replacing mundane tasks with more creatively engaging and mentally stimulating activities raises morale and cultivates a much happier workforce.
The automated tasks themselves are also improved by the removal of human error, whether that be from fatigue, inexperience or the inherent difficulty in accurately compiling mathematical data and complex analysis results.
AI software can also enhance marketing campaigns by generating content that more accurately reflects the needs of clients and consumers. Results can be massively improved due to the AI’s insights that predict these client needs and enables them to deliver more personalized solutions.
AI software can also be employed at the forefront of revenue generation, maximizing sales opportunities and increasing profits.
Outsourcing Artificial Intelligence Software
As the Global AI Talent Report stated, the number of AI software specialists is still relatively low for such a booming sector. The only place you can find a concentration of such experts that can help all forward-thinking businesses adopt AI is in the IT outsourcing industry.
Hubs of technology talent like Costa Rica not only have many cultural and time zone similarities with the United States, but they also have an abundance of the required skills and expertise to partner with businesses that want to reap the rewards of AI software development.
If you would like to have a conversation about artificial intelligence, please call our team on +1 800 974 7219 ext. 202 or by completing our online form here.