Believe it or not, Artificial intelligence has become a mainstream technology. 86% of the companies in the USA states the same. Furthermore, 55% of the companies accelerated their AI adoption in 2020 due to covid, and 67% will accelerate their AI strategy in 2021.
Traditional Approach to AI and its limitations
To harness the benefits of AI, a company needs to access sophisticated tools such as neural network frameworks, libraries to train their machine learning models. These toolsets require specific technical expertise in addition to a software development foundation.
Another constraint is time. Even highly skilled developers need to experiment with these tools and frameworks to implement and propose an implementation strategy.
These tools don’t provide practical value in most organizations. The need for an AI skillset creates an unwanted barrier for non-technical teams to understand the capabilities and integrate them to draw valuable insights.
No-Code AI: A better approach to AI
Every business should be able to access sophisticated machine learning technologies without being overwhelmed with in-depth knowledge of computer science background or complex documentation.
No-code AI is a code-free AI platform that allows companies to perform various functions such as data classification and analysis, the building of AI models without prior coding knowledge. It is introduced using a custom-developed platform that can be integrated with current technology. It comes with features as simple as drag-and-drop or a custom desktop. It makes app development more accessible and affordable as it doesn’t require highly skilled developers.
With the help of no-code AI, a business will transform data into implementable insights within minutes rather than weeks or months. No-code AI platforms must be built considering end-to-end scalability in mind.
And the best part of no-code AI is, it keeps things intuitive even for a non-technical person (like managers, salespeople). It allows adding machine learning capabilities directly to existing applications and systems instantly creating a competitive advantage.
Benefits of No-code AI
In the past four years, usage of AI increased by 270%. However, few companies have incorporated AI into their workplace. With the introduction of no-code AI, the figures are expected to reach sky-high. Reasons, why no-code AI will be preferred by the companies, are:
1) Easily integrable
No-code AI can be customised to meet the company’s requirements by using platforms and integrable modules. It can never be a fully custom software but it can be adjusted to meet business demands. Neither do you need to build a new system to use no-code AI nor a massive change in the architecture of the existing system will be required?
2) High processing speed
No-code AI can help you in performing activities (such as sorting of data) in minutes which usually take weeks or hours. Since no-code AI needs no manual interventions, it can draw insights from data much faster than your traditional AI model. It can also be used in repetitive processes such as invoicing, form filling.
3) Economically feasible than custom AI
Implementing a fully customized AI system is very expensive. With no-code AI, you can readily adopt AI without recruiting any AI team. It will lower your expenses.
4) Empowers business intelligence solutions
A human cannot draw actionable insights from a massive pool of data. AI solutions help in this case to make smarter business decisions. With the introduction of no-code AI, decision-making efficiency and accuracy have increased.
Applications of No-Code AI
a. In Finance Sector
Several finance firms have adopted no-code AI to improve security and provide a better customer experience. It can streamline the entire customer experience.
No-code AI can be used to fulfil a variety of purposes like calculating credit risk for lenders, automated online boarding,
b. In Marketing
The creative marketing sector needs to be connected with the audience. No-code AI can be used to target and align campaigns to customer demands. The sales team can predict the conversion of leads to sales, improving return on investment on every engagement.
c. In Healthcare
No-code AI can scan billions of images in seconds to look for cancer growth signs. It saves valuable time for doctors and gives them more time to focus on the patient’s treatment.
Conclusion
AI is no longer a matter of research. Companies are implementing it to gain a competitive advantage. However, due to the high cost and knowledge required for implementation, not every firm can leverage the benefits of AI. No-code AI saves companies from these troubles and helps them in making smarter business decisions more feasibly and efficiently. So, to keep up with the transformation, adopt no-code AI platforms.
Please share your thoughts with us at contact.us@virtuetechinc.com on implementing no-code AI in businesses.
