10 AI & ML App Ideas to Help you in Better Business Management - 2020
As the saying goes "Journey of a thousand miles begins with a single step" the same thing is here when making an advanced app powered with Artificial technology (AI) and Machine learning (ML) technology. To make such apps, we must have promising AI & ML app ideas.
Ideas have the power to transform and take your business ahead of the pack. We all have an idea but to bring them into reality one has to go beyond the effort that is actually required. Today we have reached to such an extent where businesses can take up the advantage of using artificial intelligence and machine learning techniques and use them in business operations and eliminate the burden of repeated tasks that seem to slow down work.
To leverage this advanced technology for AI app ideas, you must have promising business app ideas that not only bring you a handsome profit, but they should also create a positive change in the world of apps based on best AI ideas.
Ultimately, the goal is to create a collaborative world of AI which will dominate the global business markets. And, the journey starts with the best app ideas to make a successful app.
Forrester predicts that in 2020, “businesses that are using artificial intelligence (AI) and machine learning technology will gain $1.2 trillion annually from their market base.”
Nearly 97% of mobile users are using AI-enabled virtual voice assistants.
Artificial Intelligence (AI) and Machine Learning Technology
Today businesses across the world are using artificial intelligence in their work process to reap higher revenues and profits. Here is the list of some AI/ML app ideas to create an outstanding application:
Related Blog : 5 Trends Of Artificial Intelligence (AI) In 2020
In the coming years, artificial intelligence will have a big impact on the healthcare industry. AI/ML applications help analyze the data from patients and also help improve outcomes to a greater extent. This means AI apps can be used as a decision augmentation tool that improves predictability, reliability, quality, and consistency of work with safety. Few examples:
- There is one popular app called BiliScreen that utilizes the AI & ML tools, smart camera, and computer vision algorithms to know the increased levels of bilirubin in the white portion of the human eye. It is also used to detect health conditions like pancreatic cancer.
- Redivus Health is an intuitive app used by many healthcare providers to prevent medical data errors. It provides seamless clinical decision support during medical documenting events in real time.
IT Services Apps
With the move to the digital world, data hacks and cyber attacks are becoming a growing reality. To step to the mark it is one of the best ideas to use AI/ML in IT solutions, security, and services. Businesses can build AI platforms & apps in order to power IT services and security for the various workloads of computing systems.
- AI2 is an AI platform developed by PatternEx and MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL). This platform claims to predict cyber attacks with its active contextual modeling, which is a continuous feedback loop between a human analyst and the artificial intelligence system.
Artificial intelligence technology offers a competitive edge to customer-centric websites and is becoming readily available to e-commerce companies of any size or budget. AI/ML is now enabling e-shoppers to associate products with the right size, color, shape, and brand. Many customer-centric websites are already becoming more sophisticated with advanced AI capabilities and are expected to grow in the future.
- Amazon’s most popular Alexa app is a useful AI tool that helps know the algorithms of Amazon’s targeted marketing base. Alexa allows Amazon to know what products will be the most demanded and also share customized recommendations according to customer searches.
- eBay also uses AI to maintain a competitive edge in the market. Ebay Shopbot platform is useful to find different products by using NLP (Natural language processing). So, it’s clear that machine learning is an important part of eBay’s business strategy.
Artificial intelligence in cybersecurity has double benefits. On one hand, the technology is empowering firms to have more effective and intelligent protection against cyber attacks. The availability of AI-based open-source frameworks such as Caffe, TensorFlow, and Torch automate & strengthen data security at scale. For example-
- LogRhythm is using the high-end security solution for organizations to detect and respond to cybersecurity threats. The company’s machine learning profile helps in detecting threats and other online anomalies.
- The brand like Crowdstrike uses cloud-based endpoint protection software called Falcon that offers prevention against cyber threats and proactive threats in different industries like healthcare, retail, and finance.
Power, Energy & Cost Saving Apps
With AI / ML technology, power providers can optimize power generation efficiency and also help predict the future energy load at granular levels. For example, the concept of “Digital Wind Farm” by GE Renewable Energy includes AI software that monitors the turbine movement that helps in improving the level of energy production by up to 20%.
- CodeGreen Energy application is saving billions of dollars with its energy-efficient AI technology. The app compares the level of energy efficiency of thousands of buildings to determine if they are in compliance with laws by showing their ENERGY STAR® score.
Online Recruiting Automation Apps
Artificial intelligence automates the process of recruitment such as candidate sourcing, screening, and job matching, so it is one of the good app ideas. AI technology let recruiter focuses on other tasks and reduces their efforts by searching on the internet for the right candidates. Today smart employers are using the AI based recruiting apps to find candidates who have not been considered for job roles in the past not because they were not eligible or well-qualified, but because they did not appear in the search results. Few examples:
- Recruitment chatbots are the best recruiting tool that uses natural language to understand the text entered by the user. The main feature of a recruitment chatbot is to provide real-time communication to candidates and scheduling interview with the recruiter.
- There are AI tools that help in the marketing of best recruitment channels using targeted messaging, analytics, and tech-enabled automation. In 2020, AI has enabled recruitment marketing tools will be the best technology to advertise your company among job candidates.
Fast Learning Apps
The concept of AI/ML tools has changed the way we search, read & write text. There are advanced AI / ML applications that understand, read, and search for you will also help researchers know about the development of new technology, information, and tools.
- Udemy is the best example of a fast learning app that offers a variety of courses for web development, personal development, and more. You can learn to play the guitar, Udemy offers dozens of courses to help.
- Goodreads is one of the best ways to learn about almost anything about fiction, technology, self-help etc. The app has over 40 million registered members. The app helps users find the right book at the right time.
Smart Conversational Interfaces
The conversational interface is the latest trend in the world of technology that is focused on how people interact with systems. Big brands such as Amazon, Facebook, Google, and Microsoft, are strongly focused on the growth of conversational interfaces.
- The Starbucks iPhone app is a good example of a conversation interface that makes you earn rewards, search for stores, allow you to interacts with a chatbot. The virtual assistant they use is “My Starbucks barista, which is based on AI technology that can also clarify menu items and prices.
- Another example is Bank of America chatbot named Erica that helps bank customers to make financial decisions such as making payments, check balances, analyze spending, and make suggestions. Users can download Erica in their mobile phone and can chat via text message or voice.
Market Prediction Apps
Nowadays, market traders need to stay updated with every minute of market movements. The use of AI/ML apps in the modern stock market keeps tabs on the rising and fall of the stocks on daily basis. You can also check the real-time market price of the stock, take help in making a portfolio, get help in understanding stocks charts, market trends, and everything from your smartphone.
- For live market updates, NetDania Forex is the best app that sends you quotes on currency pairs, global stock exchanges, and key commodities. This app sends you live push notifications when economic data is released.
- FRED Economic Data is the best app for those who are unfamiliar with economic data that’s a repository with over thousands of time series for different economic data points from around the world right on your smartphone.
Finance & Accounting Apps
Artificial intelligence is affecting many industries and accounting and fintech industry are no exceptions. Today accounts and finance professionals are utilizing AI/ML to make their work easy through practices like quick data entry and reporting.
- Xero accounting apps speed up the execution of financial information and send live updates on turnover, bank feeds, cash flow, and more.
- Vend is an easy to use POS system that directly sends financial updates to the consumer from stores or shops. The platform also has great reporting capabilities.
So you have seen the list of AI/ML app ideas that would surely help your business for good growth.
Although many big corporations have been pioneers in their use, a number of SMEs are also using them to grow their business through innovative ideas, performance, efficiency, and productivity.
Artificial intelligence is valuable and continuously evolving. For your business, it is unique and worth the investment. So, start using these technologies to get the best results for your business.
However, you must remember that only having promising business app ideas are not sufficient to reach your goals, you must seek guidance from professional and experienced experts having expertise in AI and ML apps.