How AI and ML are Turning the Mobile App Development Industry into a Smart Industry?
Last Updated on July 20, 2023 by Editorial Team
Author(s): Sophia Martin
Originally published on Towards AI.
Is it right to call Artificial Intelligence (AI) and Machine Learning (ML), a future technology for developing new-age applications? Why not!
So, here can we assume that we have been entering into a new modern world in 2021, where things will be highly advanced and automated?
Well, Artificial Intelligence is a computer science that focuses on creating machines that replicate the behavior of human beings. And Artificial Intelligence is slowly becoming the reality of tomorrow!
In recent years, undoubtedly, the mobile app development industry is revolutionized and turned our lifestyle into a smart life with AI and ML-driven applications. From watching your favorite shows on live streaming apps to using multiple filters on the face in Snapchat, finding your soulmate on tinder to asking Siri to order something for you, you will find the presence of AI and Machine Learning everywhere. And today, this technology is embracing in several ways in different domains, including healthcare, eCommerce, mobile applications, and so on.
A leading IT solution development company, AGC Network, believes that “Artificial Intelligence is not about building a mind; it’s about the improvement of tools to solve problems.”
Did you know that the global artificial intelligence software market is expected to take a drastic jump in the coming years and estimated to generate revenues from around 118.6 billion in 2025? The wide array of applications, including machine learning, robotic process automation, caters to a significant role in economic growth as well.
If you are still feeling clueless and scratching your head to know what AI is and how it is revolutionizing the mobile app industry, then dig deep and understand everything related to Artificial Intelligence. This blog has covered the below-mentioned points.
Introduction of Artificial Learning (AI)
Impacts of Artificial Intelligence on Different Industries
Surprising Statistics Related to Artificial Intelligence
Challenges of Developing Mobile application with AI and Machine Learning Capabilities
People who have been into mobile app development companies can easily relate these points, but for non-techies, it is challenging to interpret. So, let’s elaborate on each point and understand it in a simple language!
What Is Artificial Intelligence?
Do chatbots, virtual assistants, or automated cars fascinate you? If yes, then you already know the Artificial Intelligence!
Well, AI is nothing but a modern technique that enables computers to replicate human behavior. And today, the most common example of AI in self-driving cars, chatbots, virtual agents, and so on, that heavily rely on deep learning and natural language processing. By using deep learning, NLP, and integrating algorithms, computers can be trained to accomplish a specific task by processing a large amount of data and evaluating particular patterns in the data.
The CEO of DataRobot, Jeremy Achine, explains AI more simply “An AI is a computer system that can perform tasks that ordinarily require human intelligence. These artificial intelligence systems are powered by machine learning. Many of them are powered by machine learning; some of them are powered by specifically deep learning; some of them are powered by very boring things like just rules.”
Image source: https://www.slideshare.net/linagora/deep-learning-in-practice-speech-recognition-and-beyond-meetup
How Does Artificial Intelligence and Machine Learning Become a Need of An Hour?
While things have been managed earlier as well in a conventional way but the science fiction of yesterday has opened the doors for new opportunities for businesses from different fields. Moreover, AI has already taken the world by storm and drastically altered the way people think and move at every step of their life.
Regardless of the size and nature of your business, AI is yielding a great deal of success in nearly every industry. The Founder and CEO of Machine Learning Company SparkCognition, Amir Husain, said: “Artificial Intelligence is a kind of the second coming of software.” Instead of just taking over human intelligence, it is acting as a supporting tool to businesses for accessing and analyzing thousands of layers of data far more quickly than human beings. Humans can leverage this technology to uplift their decision-making abilities as opposed to traditional software.
Apart, here are a few ways AI and ML will enrich your business in 2021:
- Improve Search Results
According to the Annual Report of the State of IT 2019, buyers are more likely to spend 40% more on shopping than the planned, especially when they find personalized shopping experience.
Do you know that search results can make a big difference in your business revenue, especially when you are into eCommerce? Amir Konigsberg, the CEO of Twiggle, says, “your eCommerce search engines have to think the way humans do. He added, customers usually discontinued online shopping if the displayed product results are often irrelevant”.
To uplift the shopping experience of the users, a large segment of the companies started leveraging the Natural Language process to shortlist, contextualize, and improve the search results for online customers. With the help of outsourcing software companies, many businesses have developed smart apps that see the world as you do.
- Boost Personalised Shopping Experience
According to the Ubisend Chatbot report 2017, one out of five is willing to shop from chatbots, and 40% of customers use chatbots to look for the latest deals and offers.
Impressive right!
Have you ever used Amazon for shopping? You will understand what we are discussing here…
Whether you have hired Android App Development Company or outsource the services to the freelancer, machine learning can help you segregate the user based on their interest and budget. HOW?
With the integration of in-depth data learning and monitoring the user activity on all devices, they create a universal customer view. In other words, machine learning helps you collect data to better structure your customer line and enables you accordingly approach each customer group and deliver the content that precisely fits their individual needs.
For example, you are searching for the smartwatches on Flipkart. Based on your needs and budget, the search engine will not only help you narrow down the best options but also enables you to merge the trendy accessories as well, like detachable straps along with your shopping.
- Predict User Behavior
This is where Artificial Intelligence can be a real game-changer for businesses. HOW?
Machine learning applications developed by top AI app development companies help marketers to understand customer’s choices, preferences, and shopping patterns by evaluating different parameters of data including age, area, search frequency, gender, frequency of app usage, and more.
- Build Better User Engagement With Virtual Assistants
How would you order the goods today? Did you browse on Google or ask your Alexa to make orders for you?
Considering UK Online Shopping and E-Commerce Statistics for 2017, it is concluded that consumers heavily relying on online shopping today and estimated that 95% of purchases would be made online through voice commands.
“Hey Alexa,” “Okay, Google,” these are the recently emerged as one of the most prominent voices in eCommerce. It won’t be wrong to quote that today’s modern shopping trends are evolving around these words.
While thousands of customers are new to online shopping, hence they look for little help to smoothly leverage the benefit of online shopping. This is where AI-driven virtual assistants come and make it possible with just a voice command.
For instance, by using Siri, customers can check the weather forecast, book their most awaited trips, reserving dining, and so on, by simply saying, Hey SIRI, “Play some music or book tickets for me.”
This way, virtual assistants are impacting and revolutionizing the way consumers purchase and providing new opportunities to business retailers.
Still wondering whether you need to invest in Artificial Intelligence and Machine Learning or not? Let’s have a look over some stats and facts related to AI and learn how it is reshaping the businesses.
Surprising Statistics Related to Artificial Intelligence and Machine Learning
- According to the report submitted by Brain Curtis, Global GDP is expected to reach $15.7 trillion by 2030 with the rapidly increasing adoption of AI technology in different business domains.
- The Machine Learning market is proposed to earn $5,537 million in 2023, according to Allied Market Research.
According to Forbes, more than 50% of enterprises are adopting machine learning to refine marketing issues and smoothly running their ventures.
According to Mckinsey report, millions of banks are using ML to improve customer satisfaction and reducing data errors.
Now the question is, how simple is to develop an application with the AI and Machine Learning process?
Whether you are a startup or an enterprise, if you are still waiting to integrate the Artificial Intelligence Application to their business, then I would strongly recommend you not to delay anymore. This is because AI is going to advances the world more than any other tech innovation in the last few years. However, building an application with AI will not be as simple as you might be considering. There are multiple challenges that any Android App Development Company need to face while developing an app with AI.
Let’s discuss it in detail and understand how to fix it efficiently:
Understanding the Fast-Paced Market Trends
No doubt, AI is quickly revolutionizing the market trends and providing businesses with an incredible opportunity to grow with robotic solutions.
However, now the race is not limited to develop AI applications but also to ensure that it has rich data quality and quantity.
How will you decide whether iOS app development company has delivered you a high-quality AI solution or not? Well, the quality of the system heavily relies on the data fed into it. Usually, AI considers various learning systems to gather information as humans do, but to detect a certain pattern, they need to integrate much more data than humans do.
You must be wondering what this can be performed by humans as well. But here the difference is, AI can analyze multiple layers of data with a speed that humans can’t even think of and learn it quickly. So the better data you fed into AI applications, the better the outcomes will be delivered to you!
How would you resolve the issue?
The best way to address the problem is to understand what data you already have in the application and what your model would be required? To identify the actual needs of your model, you must know what models you are working on. Whether it has structured data or raw data? Collect data from your customers by monitoring their shopping patterns, on-site interactions, gender, location, age, interests, and more.
Lack of Technicality to Develop AI Application
One of the biggest challenges to develop AI applications is the lack of a more profound understanding of principles on which AI technology based on. What capabilities and limitation it has?
Today, on one spectrum, every industry is rushing to adopt AI technologies in their business; on the other side, they are surrounded by the thousands of myths related to AI. From the need to hire in-house data science experts to have fantasies about sci-fi robots replacing humans quickly, many myths are leaving businesses in a great dilemma.
The lack of knowledge of developing AI applications will leave many businesses in a middle way and making them realize that it is impossible to reach their goals.
How to resolve this issue?
I know this might sound you depressing or discouraging. Still, I would recommend you to hire the best AI app developers well-versed with the latest AI technologies and understand the possibilities of AI that they can use to manage your business expectations.
Also, get inspired by the top leaders and go through their cases and learn how they deployed new technologies and what strategies they have adopted to lead the market.
Ending Note
Hopefully, you enjoyed reading this post and understand how Artificial Intelligence will be magnified in the coming years. In fact, in the coming years, every industry is virtually transforming their core business strategies and revamp the way they are dealing with customers today. With Artificial Intelligence and machine learning, they can provide customers with better user experience and the ability to drive innovative business opportunities.
So get in touch with the best AI mobile app developers to integrate the latest technologies to upscale the business growth!
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Published via Towards AI
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