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Title WHY DOES BUSINESS REALLY NEED AN ENTERPRISE ARTIFICIAL INTELLIGENCE
Category Business --> Services
Meta Keywords AI in business, Artificial intelligence in Business, WHY DOES BUSINESS REALLY NEED AN ENTERPRISE ARTIFICIAL INTELLIGENCE, cost to develop Artificial Intelligence, Cost to develop AI
Owner kalyani
Description

Enterprises are characterized by associations or ambitious elements related to business, machinery or skilled operation. It includes activities where individuals come together to produce and sell goods for profit and wealth.

With today's unstoppable amount of information accessible, and the ever-evolving propensity and sophistication of customers, organizations currently do not rely on traditional business technologies to drive growth. These extreme changes have opened up another area of conceivable outcomes, leveraging artificial intelligence to drive business forward through noteworthy experiences created from customer information.

AI in business simply includes the use of intelligent computers with human-like capabilities to support revenue, improve customer experience, increase profitability and proficiency, and drive business development and change.

The reason there is so much talk about how AI can revolutionize the world and change the future is that AI Application development services & solution in USA are already being used in almost every industry with excellent results.

Here are a few specific applications where AI has proven very effective:

How Does it Apply to Business?


Healthcare - AI applications in Healthcare are being used to provide personalized medicine, giving patients reminders when to take their medicines and advice on which specific exercises they should do.
Retail – AI technologies are applied to retail environments to handle inventory management, design more efficient store layouts, and provide personalized shopping recommendations through Amazon’s “You might also like” suggestions, and machine learning-driven recommendations through Netflix Algorithms provide personalized viewing recommendations.
Manufacturing - AI in Manufacturing solutions are used to predict plant loads and demands, ensuring plants are running as efficiently as possible by helping to make better logistical decisions and planning for material ordering, project completion timelines, and more.
Banking – AI systems are used to review financial transactions to detect fraudulent activity, assess credit scores more accurately, and automate tasks that require manual data entry and data management.
Life Sciences - Artificial intelligence technologies are being applied to test new drugs, enabling organizations to bring them to market faster, and to analyze large and complex data sets that help discover new, more effective treatments and drugs.
Clearly, AI is already applied to a range of important processes, but there are hundreds or even thousands of additional applications for nearly every sector of the modern economy.

How Much Does it Cost to develop Artificial Intelligence 
A common misconception is that leveraging AI app development cost a fortune. This may have been the case in the past, but with modern technology, things have changed.

Earlier, only big tech companies like Facebook, Microsoft and Google had the ability to develop AI-driven software and applications. The availability of various affordable tools, libraries, and frameworks has made AI more accessible to smaller organizations and startups, reducing implementation costs.

AI solution prices based on different portfolios:

Prototyping starts at $2500
Develop a Minimum Viable Product (MVP) based on customer data starting at $8,000 and going up to $15,000
Implementing a complete AI solution can cost anywhere from $20,000 to $1,000,000

Concluding Notes:
AI has come a long way, and it is sure to continuously improve the user experience by incorporating the most basic human emotions. Right now, the only obvious human emotion in AI is anticipation. It gives us what it thinks we need based on the expectations of using the programmed data.

AI technologies in business play a huge role in improving the efficiency of businesses and their employees. But we are far from losing our jobs and being replaced by artificial intelligence. We should fully embrace and use it for our benefit.

Writer:

Kalyani Tangadpally has been a professional tech content writer since 2014. Backed with the Business Analyst profile, she grabbed the proven experience in delivering unique and research-oriented content (B2B and B2C) on revolutionizing digital technologies. She has delivered hundreds of inspiring informative and resourceful articles that are very much helpful for startups or brands who wish to kick start their digital journey and stay competitive in this digital space.