Artificial Intelligence (AI) is no longer the technology of the coming age, but the wonderful reality of the present day. Organizations across the globe are implementing AI in their data processing workflows as it improves the way firms can analyze overwhelming volumes of data.
Gartner predicts that the market for Artificial Intelligence (AI) software will reach almost $134.8 billion by 2025—you can figure out for yourself the potential this new-age technology holds. With AI-powered data processing solutions, companies can save significant amounts of time and money. However, some firms are still not aware of the importance of this smart technology. Let’s understand the difference between a regular computing program and AI-driven services through an example:
Consider the Case in Point
An AI-based system marks of 15 students in a class (1, 3, 5, 6, 8, 9, 12, 7, 13, 40, 60, 65, 70, 95, 100). Based on this, the data-driven model has to rate the overall class on a scale from A-E (according to the slabs like 0-20 is E, 21-40 is D and so on).
The difference between an AI and a regular computer program is the same as the two men in this saying, which goes like “Give a man a fish and he’ll eat for a day. Teach a man to fish, and he’ll eat for his lifetime.” The first man here is like a regular computer program that does not learn on its own and provides an output only when input data is given. On the contrary, AI is the man you teach “how” once—who not only learns and improves on its own but also gives the desired output with rules and methods of what to do with certain kinds of data.
For instance, a regular computer program might take an average of 10 marks and rate it based on that. Whereas, an AI will be able to identify the outlier (100 in the current scenario) and then give us the answer—that clearly shows the difference between both the worlds and illustrates how AI gets ahead of all with the help of Machine Learning.
Perks of Investing in AI-Driven Business Data Processing
Implementing AI for data processing tasks helps businesses in achieving maximum out of the minimum. It is the proven way for organizations to reduce operational costs and save time and efforts that are spent in handling and managing so many different processes. Examples of these include bank reconciliation, payroll processing, expense tracking, credit card management, and so on. When it comes to handling all these processes at once, AI is the key to improving efficiency and increasing productivity.
Some of the irresistible benefits of engaging in AI-fueled data processing services are as follows:
1. Accelerated Process
Big data in the form of photos, videos, audio, text, geospatial data, and wireless communication data generated by the Internet, sensor networks, and other such equipment has become an essential asset for many organizations. The Internet of Things (IoT) includes real-time data analysis, NLP, Computer Vision, Social Computing, Speech Recognition, etc. Hence, many organizations are leveraging AI-driven big data processing services to deal with massive volumes of heterogeneous data and speed up the entire cycle.
2. Improved Decision Making
Data is the driving force behind every business, regardless of its industry and companies are going all-out to collect as much as they can—be it from customers, employees, vendors, or business partners. Every organization collects data and leverages it for multiple purposes including gaining a competitive edge over their competitors.
However, they face a major problem when they try to utilize the massive amount of data as it isn’t easy for companies to leverage unstructured data and turn it into useful information, which can assist them to improve their business practices. Thanks to AI that has been changing the IT landscape for quite some time now. It can be used to improve decision-making capabilities at the workplace by providing real-time insights into critical situations as well as identifying potential risks before they happen.
3. Optimized Expenditures
AI-based data processing has a lot of potential to streamline workflows and generate greater profits for businesses, irrespective of its industry or verticals. It shortens the processing time which decreases the operational costs and better utilizes the employees time and creates room to foster innovation. Additionally, businesses can be assured of their data integrity and adhere to the compliance and security regulations.
The rapid adoption of innovative technologies has led to more intelligent and efficient business. Amidst this, the companies turn to Artificial Intelligence to resolve and prevent high-severity outrages. AI combined with Machine Learning and Deep Learning transforms traditional data processing workflows, making them smart, time-saving, and efficient. Quality assurance, shortened processing times, and real-time analysis are the main areas AI has proved to be an effective tool.
You can get in touch with a reliable data processing services company to realize the true power of AI and future-proof your business.
Leverage the Power of AI-Driven Data Processing Solutions