Machine Learning, Artificial Intelligence and the Future of Software Development
As businesses and other organizations undertake digital transformation, they are confronted with an expanding flood of data that is both extremely valuable and increasingly difficult to acquire, handle, and analyze. New tools and procedures are required to manage the massive amounts of data being collected, mine it for insights, and act on those insights once discovered.
According to Statista, the worldwide internet user population will reach 5.3 billion by 2023. For the entire period from 2018 to 2023, the compound annual growth rate is 6%. The year with the highest predicted growth from this era was 2019, with 300 million new internet users and a 7.7 percent increase from 2018.
The emergence of artificial intelligence (AI) and machine learning (ML) after long periods of failure has been fascinating. Cloud computing and big data are enabling AI & ML to create a revolution faster than we ever imagined. Today, we see it everywhere — from Google Photos to Amazon’s Alexa to Tesla’s self-driving capabilities.
Now before learning about the benefits of AI/ML in software development, let's look at some of the use cases.
1. Customer Service Sector
Marketers are now collecting and analyzing social, historical, and behavioral data using artificial intelligence and machine learning to gain a deeper knowledge of their clients. AI can forecast customer behavior because it constantly learns from the data it analyses and produces. As a result, chatbots driven by AI and ML may give clients a more personalized and informed experience by replying to their concerns quickly and, if necessary, directing them to a live customer support professional.
2. Healthcare Sector
The application of artificial intelligence in medicine is becoming a reality. Machine learning algorithms can help hospital managers manage processes and doctors make better medical judgments. AI improves and streamlines medical services in general. The adoption of AI-based technologies is one of the most significant advances in modern healthcare.
3. Marketing and Sales Sector
Consumers today want speed and hyper-personalization across the board, so marketers must devise innovative solutions to meet demand while making the best use of their resources. Marketers are achieving this through the use of machine learning and artificial intelligence. The name “AI Marketing” was invented precisely for this purpose.
Amazon accepts your order with a single click and ships it the next day. Netflix quickly recommends the next shows you’ll want to binge-watch after wading through years of your entertainment preferences. Google fixes your grammar, tells Alexa when your Amazon order will arrive and gives you immediate answers to even the most puzzling questions.
There are more major sectors such as education, publishing, banking and finance, retail etc, which leverage the use of AI/ML extensively to stay ahead of the game, learn about behaviors, buying patterns, time spent, interests and much more.
Benefits of AI and ML in Software Development
1. Enhanced Data security
Data security is something that cannot be overlooked throughout development. In most cases, the system collects data from network sensors and software installed on the customer’s end. As a result, a large amount of data is captured and transported from various client networks. This makes analyzing every activity by cybersecurity professionals more complex. You may simply retrieve data with the help of AI by applying machine learning, which differentiates improper data based on regular activities. Furthermore, if you operate a custom software development company, you can incorporate AI into your development lifecycle to minimize delayed warnings, false notifications, and alarms.
2. Easy Spam Detection
A few years ago, one of the primary issues was spam detection. However, thanks to the use of Machine Learning, it was quickly resolved. Email service providers developed rule-based approaches to detect and filter spam phrases. However, with the deployment of machine learning, spam filters are creating new rules to detect spam emails by using brain-like neural networks. The neural networks detect phishing messages and spam by applying rules across a vast network of systems.
3. Intelligent Assistants
In general, developers spend far too much time reading documentation and troubleshooting code. However, by utilizing intelligent programming assistants, developers can now save a significant amount of time by giving real-time guidance and advice such as best practices, code examples, and relevant publications.
Digital Transformation using AI/ML is already growing with godspeed and if you are willing to win this race you have to prepare.
To stay up with the changing world,
First, be sure to educate yourself on artificial intelligence. It is better to acquire more knowledge about AI and ML.
Second, understand that the AI is now capable of doing tasks on its own, without the need for human intervention, so make sure you are as ready as you can be for this transition.
Third, be receptive to new concepts because AI and ML will penetrate your company’s operations far sooner than you might think.
To ensure that your company remains competitive in AI and Machine Learning in the software development business environment, invest in cutting-edge technologies like AI and ML now before they become obsolete.
Get in touch with us now if you would like to implement AI and ML into your existing software or if you would like to develop new AI and ML-based software.
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