AI SaaS is here to stay


The pandemic not only changed the way we live, it also changed the way we work. We have seen differences between going to the office or school every day to getting up every day and sitting in front of a laptop became our reality.

Artificial intelligence and cloud solutions were two leading technologies that seemed like the next big thing in the last two decades. And with the pandemic, this just became real.

“One third of IT companies around the world now use Artificial Intelligence (AI)” – IBM Global AI Adoption Index.

The same survey also found that 43% of SaaS companies have accelerated the deployment of AI solutions. However, this was possible only because he had no choice but to adapt to the conditions of confinement and working from home. This led to the downfall of legacy methods for new automated solutions powered by artificial intelligence.

For those of you who don’t know what artificial intelligence is

“Artificial intelligence is intelligence or understanding demonstrated by bots, rather than natural intelligence displayed by humans.”

The new advance in artificial intelligence has even allowed us to converse with machines like our telephone in our native language and find solutions to our problems instead of the complicated page code of a few decades ago.

“I see [AI] as a very deep enabling technology. If you think of fire or electricity or the Internet, that’s the way it is, but I think it goes even deeper. “ – Sundar Pichai, CEO of Google on a recent BBC podcast.

Artificial intelligence not only revolutionized the customer service industry with conversational AI, but also entire business processes. With the help of other AI-based solutions like conversational intelligence, AI-powered CRM and dashboards, forecasting and diagnostic tools, doing more while working smart has become a global reality.

But the pandemic was not the only reason for the acceleration of Artificial Intelligence solutions; many other factors led us to speak to chatbots or virtual assistants every other day.

Why artificial intelligence?

It is true that AI solutions not only improve but also improve the accuracy of any task. But that does not mean that it is the only reason for its great popularity. Let’s look at some of these reasons:

Automation

An undeniable but important factor is that the tasks of most companies in sales, marketing, finance or even in all industries are very monotonous and repetitive. AI can easily automate all repetitive tasks, saving businesses a lot of time.

For example, Suki.ai allows doctors to take notes verbally without manually typing them for future reference, or to solve repetitive customer problems, such as account updates, with the help of a chatbot.

Easy to use

Solutions based on artificial intelligence are intuitive, making it easier for users to use the solution. For example, setting up Alexa updates for your order delivery or setting up a newsletter for your potential customers.

Unique integrations

The best part of these AI solutions is; companies must integrate these solutions into their processes once and reap their benefits.

More affordable

Compared to two decades ago, the technology itself has come a long way. And thanks to that, the prices of AI-based solutions have dropped. So now even startups can afford to implement an AI-based stack for their requirements.

Self service

A recent study found that 67% of respondents prefer self-service. As the market demands tools and services for self-service, the number of retail and customer service solutions has increased.

Let’s look at the most adopted Artificial Intelligence solutions in COVID-19, which are here to stay.

Adoption of AI solutions

Cloud computing platform

Amazon and Alibaba web services, who does not know about them?

Cloud computing software provides on-demand computer software resources, such as data storage and computing power, without direct active management.

Conversational AI

Aside from Alexa and Amazon’s assistant, the number of chatbots and virtual assistants on the market more than doubled. And this wasn’t just to address customer complaints, including for selling, capturing leads, and even eliminating the resolution of repetitive internal inquiries. Some of the main players in the market are Haptik, Verloop, Drift, IBM Watson.

Conversation Intelligence (CI)

AI-powered conversational intelligence became another popular demand in the market. With working from home, the only way to talk to the internal team or the prospect was through Zoom, Google meetings, and their other video conferencing platforms.

CI became the go-to tool for all companies to record, transcribe and analyze the summons to obtain customer information, market information and train new sales employees despite no contact. Some of the important players are Gong, Convin, Wingman, and Chorus.

Forecast solutions

Sales forecasting in itself is a horrendous task. Think about it: track deals, listen to daily conversations, track market trends. Sales forecasting software helps plan, budget, and forecast expenses and revenues by tracking the deal cycle, patterns, and trend of business expenses. Some of the players in the market are Salesflare, Smart Demand Planner, Place Technology.

Automated solutions

The adoption rate of artificial intelligence-based solutions to automate monotonous and repetitive tasks increased, such as manually adding leads to a CRM or sending notifications and updates. Tools like Zapier, Automation Anywhere are some of the notable names. Additionally, AI automation has simplified remote work.

Cloud-based CRM

Cloud CRM is CRM software in which the application and data are hosted on CRM providers’ servers in a data center and accessed via an internet browser instead of a personal system. Some of the important CRMs are Salesforce, Freshworks, Hubspot, and Pipedrive.

Artificial intelligence has the potential to interrupt not the business process, but even our everyday lives. For example, what previously required hours and hours of waiting in the call queue can be done quickly by chatting with a virtual assistant.

Similarly, what used to take an SDR countless hours of work to take meeting notes and conduct market research for a single meeting can be easily accomplished with Conversation Intelligence.

Image credit: RF Studio; Pexels; Thanks!

Aarti nairo

Aarti nairo

Content writer

Aarti Nair is a content writer who has a long history of working with conversational AI and conversational intelligence startups based in Bengaluru. She has also worked in the highly competitive insurance automation industry as a creative writer and social media expert.


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