How to implement artificial intelligence in a business application

The modern world has already entered the era of digital transformation, and the introduction of artificial intelligence into people’s daily lives and various areas of business is now a cornerstone of any innovation. The analytics of recent years demonstrate impressive successes in this area and draw bright prospects for further integration of the technology into different spheres. For example, according to Statista, the annual growth of the global AI market in the near future will be 54%, and this is according to the most restrained forecasts. And according to Ilon Musk, the probability that AI will surpass the intelligence of all humans by 2030 is 100%.

While many of today’s metrics don’t feel the impact of artificial intelligence on their lives, the reality is actually much more deeply digitalized than they may think. Whether it’s leafing through an Instagram feed, picking up playlists on Spotify or a movie for the evening on Netflix, many don’t even think about the fact that it’s all implemented with AI. But what does this situation look like from a business perspective? We suggest figuring it out.

The Exploding Topics report says that today, more than 77% of companies around the world are actively exploring the benefits of incorporating AI into their business or are already actively using it. At the same time, 83% of enterprises consider artificial intelligence as one of the most important components in their development strategy. Interestingly, we’re not just talking about trends here, but about real profits. For example, during 2022-2023, Nvidia was able to double its capitalization to $2 trillion thanks to the incredible popularity of its AI chips.

Other giants of modern business, including Google, Amazon, Microsoft and Apple, are also actively investing in startups based on AI technology. By the end of 2023, the volume of investment in this segment increased by as much as 57%. All this has led to the fact that talking about AI no longer sounds futuristic. Now artificial intelligence is an integral part of our reality.

This is also supported by economic statistics on the impact of technology on a wide variety of areas. Here are a few of the most interesting points:

• At least 77% of all devices people use are AI-powered.
• 9 out of 10 entrepreneurs are positive about incorporating AI into their business in an effort to gain a competitive advantage.
• Within the next 3 years, 63% of companies plan to incorporate AI into their processes.
• By 2030, capital investment in AI development will increase to $15.7 trillion.

Artificial intelligence is computer-generated digital intelligence that mimics cognitive functions such as the ability to reason, analyze information, learn, make decisions, and perceive the world around us. Simply put, AI is a virtual brain that helps automate complex tasks and make data-driven decisions.

One of the most striking examples of AI application in everyday life is the Google search engine, the work of which is based on complex algorithms for analyzing queries. AI technologies are also widely used in such tools as voice assistants – Siri, Google Assistant, and creative content generation programs such as ChatGPT or MidJourney.

Artificial intelligence technologies are conventionally divided into 3 categories:

• Weak AI. This is a highly specialized artificial intelligence designed to perform one specific task.

This is the most common type of AI, which is already widely used in everyday human life. Examples include recommendation systems in Netflix, facial recognition algorithms in smartphones, and chatbots for customer service.

• Strong AI. This type of artificial intelligence is capable of solving intellectual tasks that a person usually performs. It is not limited to one area of ​​application and can learn new skills. This type of AI is at the development stage, but is already successfully used in some industries, such as in medicine for diagnosing diseases.
• Super AI. This is a hypothetical level of artificial intelligence that surpasses the human mind in all respects. Super AI is capable of not only solving problems of any complexity, but also creating new technologies, managing processes, and developing autonomously. Today, experts are striving to create such a level of AI, but at the moment, its development is only at the research stage.

Integrating artificial intelligence into business processes opens up unique opportunities for companies and gives them several significant advantages. Among the main ones, it is worth highlighting:

• Reducing the influence of the human factor. Digital technologies help to avoid errors that a person can make, which increases the accuracy and correctness of task execution. Decisions made by AI are based on reliable information and clear algorithms. Therefore, with qualified programming, the risk of errors is reduced to almost zero.
• Improving the decision-making process. Artificial intelligence is able to analyze large amounts of data and identify patterns that are inaccessible to human perception. This helps to make informed and effective decisions. For example, in healthcare, AI algorithms analyze medical images, helping doctors make accurate diagnoses and develop individual treatment plans.
• Achieving zero risk. Robotic systems based on AI can perform complex actions and solve problems in extreme conditions, with zero risk to humans. A striking real-life example is the use of AI on production lines in industry. The human employee is freed from dangerous and labor-intensive work, and the machine does everything for him – quickly, accurately and efficiently.
• Continuous availability. The maximum productivity of a person is no more than 4 hours a day. At the same time, digital technologies can work continuously and without reducing efficiency.

At the same time, artificial intelligence analyzes huge amounts of information, predicts and makes decisions much faster than humans. For example, this is especially important for AI-powered chatbots that provide technical support and provide users with advice around the clock, quickly resolving their issues.

• Objectivity in decision-making. Unlike people, who may be subject to emotions, fatigue or other factors, AI makes decisions based solely on facts and algorithms. This rational approach is especially important for financial transactions, risk management and other critical tasks.
• Automation of processes. Any repetitive tasks that a person solves can be delegated to artificial intelligence. This allows employees to focus their energy, time and attention on more important and creative work. For example, machine algorithms can easily handle reconciliations, sorting, sending and other tedious operations, ensuring their high speed and accuracy.
• Integration into everyday applications. Artificial intelligence is gradually becoming an indispensable part of the applications and services we are used to. When a user checks the weather forecast, searches for routes in travel guides, or scrolls through a social media feed, AI helps make their experience more convenient and personalized. It analyzes a person’s preferences and offers exactly what they need at the moment. In addition, technologies such as chatbots or recommendation systems significantly improve customer service and help increase sales.

The integration of artificial intelligence into business processes can significantly increase productivity, reduce costs, and automate routine tasks. In order for the technology to bring maximum benefit to your business, it is important to approach the process of its implementation correctly. For this, we recommend taking the following steps:

Identification of needs. First of all, you should define the tasks that you want to solve with the help of AI. For example, if your company needs to interact with customers around the clock, a chatbot is suitable, and to combat fraud, generative artificial intelligence. A clear understanding of business needs guides the entire development process.

Selection of suitable methods and tools. AI combines many technologies, each of which is suitable for solving different problems. These can be algorithms for data analysis, predicting customer behavior, identifying risks, voice control, or creative generation. The correct choice of tools guarantees that the development will meet your goals.

Formation of a professional team of developers. The creation and implementation of AI requires qualified specialists: developers, data engineers and analysts. You can hire such experts in your own staff or turn to professional outsourcing companies.

For example, AVADA MEDIA provides carefully selected teams of specialists with deep knowledge and experience in the field of AI development, and also carries out the implementation of such projects on an outsourced basis.

Data collection and preparation. Data is the basis of any AI. Its volume and quality depend on the specifics of the business. It is important to prepare relevant and structured data for training algorithms, which will directly affect the accuracy and efficiency of artificial intelligence.

Testing and tuning algorithms. After developing an AI prototype, it must be tested. This will help ensure that machine learning algorithms work correctly, meet the tasks set and can be effectively integrated into business processes. At this stage, possible errors are eliminated and the system is tuned.

Implementation of a ready-made solution. When artificial intelligence is tested and tuned, it is integrated into a business application. At this stage, the technology becomes part of your daily processes, helping to automate tasks and improve the efficiency of the company.

Monitoring and optimization. AI work should be regularly monitored. This allows you to identify weaknesses, make changes and adapt the system to new challenges. Continuous optimization ensures that the system meets the changing needs of the company and the market.

By integrating artificial intelligence algorithms into your company’s business processes, you gain the following benefits:

• Increased productivity. AI automates routine tasks and optimizes workflows, allowing employees to focus on more important tasks.
• Improved decision-making. By analyzing data and identifying patterns, artificial intelligence helps make informed and accurate decisions based on objective information.
• Achieving a new level of interaction with consumers. AI algorithms allow you to better understand customer needs and organize a personalized approach to each of them, which significantly increases audience loyalty.
• Reduced production costs. Automation of processes and optimization of resources using AI can significantly reduce costs at the enterprise, and also increases productivity by up to 12%.

• More efficient risk management. Unlike humans, AI is able to analyze large amounts of data in real time to predict potential risks and offer solutions to prevent them.
• Acceleration of new product development. AI technologies help to significantly reduce the time for creating and testing new products by analyzing user behavior and offering improvements at the design stage.

Artificial intelligence not only optimizes business processes, but also opens up new prospects, making the company more adaptive to market challenges. For example, Netflix, with the help of an AI-based “smart recommendation” system, increased user engagement and saves about $1 billion a year, and Amazon, thanks to robotic systems with AI, reduced order processing time from 60 to 15 minutes and reduced costs by 20%. And this is only a small part of successful cases.

Artificial intelligence is rapidly penetrating people’s everyday lives, making them more comfortable and high-quality, and changing the rules of the game in business. For companies, AI is not just an innovation, but a strategic tool capable of taking management, process optimization, and competitive positions to a completely new level. The possibilities of “digital intelligence” are enormous – from automation of marketing and inventory management to revolutionary improvement of customer service and maximum data protection.

AVADA MEDIA provides services for the development and integration of artificial intelligence solutions. Our experience and expertise will help you achieve outstanding results, optimize business processes and ensure long-term development of your business.