These 4 Mobile App Categories Are Growing, Thanks To Artificial Intelligence
Planning on an artificial intelligence app? The best thing about AI is that it doesn’t matter what business or job you have, AI is useful in all sectors. This blog is written with the intention to tell you how AI is growing these 4 major app categories. Do not worry if you don’t’ find your app category here, this is just a peek into the world of AI. You can freely use AI for your business processes as well. Just take a look at the mammoth transformation these app categories have undergone and experience it yourself if you wish!
We keep hearing that AI is the technology of the future. It won’t be wrong to say that AI is the future.
What we don’t realize is that the future is here. It is 2020 and AI is developing at a speed that exceeds most predictions.
We are dealing with AI every day, most of the time without even realizing it. From using Face Recognition to unlock a phone to telling a Voice Assistant for setting an alarm for the next day, we use AI as a part of our daily life.
Did you know that 80% of what we’re watching on Netflix is driven by its recommendations? And why do we point this out? Well, the recommendation engine is powered by artificial intelligence. It analyzes your past viewing history to deliver suggestions for what you might want to watch.
Do you still need more proof? Here, take a look at these numbers.
The Impactful Growth of Artificial Intelligence
- Forrester predicts that by 2020, businesses that are using artificial intelligence (AI) and machine learning technology will gain $1.2 trillion annually from their market base.
- By 2030, the average simulation shows that some 70 percent of companies might have adopted at least one type of AI technology
- You can see the growth of insights-driven businesses in the image
Source: Forrester Research Inc.
- AI has the potential to deliver additional global economic activity of around $13 trillion by 2030
- Gartner predicts the business value created by AI will reach $3.9T in 2022
- IDC predicts worldwide spending on cognitive and Artificial Intelligence systems will reach $77.6B in 2022
Artificial intelligence in apps has been used for a long time. This usage is set to increase and so is the demand of AI developers.
Even though AI in mobile apps is not an uncommon topic, there are certain app categories that have flourished due to AI development in them. Here, we will tell you about 4 app categories that use AI in app development and are now booming.
How Artificial Intelligence Apps Grow These 4 Major App Categories
#1. Ecommerce apps
Artificial Intelligence in eCommerce apps like Amazon uses a combination of Collaborative Filtering and Next-in-Sequence models. These best Artificial Intelligence apps make predictions on goods an individual consumer may need next.
Such AI-based mobile apps collect and process data and append mass-consumer purchase behaviour to an individual’s purchase and offer relevant and helpful product recommendations. This is called Predictive Product Recommendations.
Artificial intelligence in mobile apps also handles the logistics side of the business. AI apps enable rerouting, changing delivery arrival times and making other adjustments for accuracy and efficiency.
Artificial intelligence development enables eCommerce apps to recommend products uniquely suited to each shopper. People may search for products using conversational language or images, as though they were interacting with a person.
According to a report by the Boston Consulting Group (BCG), retailers that have implemented personalization strategies see sales gains of 6-10%, a rate two to three times faster than other retailers.
You may see the percentage of retailers investing in AI and IoT technologies.
Source: Business Insider
In fact, you may also use AR and VR in eCommerce apps like shopping apps to improve customer’s shopping experience online.
#2. Healthcare apps
Artificial intelligence apps have been a blessing in the healthcare sector.
You must have heard about AI-based apps that act as virtual doctors. An AI chatbot listens to a patient’s symptoms and health concerns, diagnoses accurately, and prescribes care accordingly. In fact, an AI model using algorithms and deep learning diagnosed breast cancer at a higher rate than 11 pathologists.
Intuitive AI in apps is used by healthcare providers to provide seamless clinical decision support during medical documenting events in real-time. This prevents medical data errors and in turn, saves lives.
As there is no emotional involvement that can hamper the customer experience, the involvement of AI-powered mobile apps will not deviate from the focal point of quality.
Artificial intelligence apps can also enable timely-checkups of patients, scheduling tests, X-rays, CT scans, treatments, surgeries that need human presence. This interference can be reduced by using artificial intelligence solutions
AI solutions are thus used to discover links between genetic codes, to maximize hospital efficiency, or even to power surgical robots.
#3. Education apps
AI in education apps will bring out the best from the students as well as educators. Artificial intelligence services can be put to great use in this app category.
Artificial intelligence apps detect a student’s learning pattern, identifying whether a student is able to comprehend a topic or not. This will help in detection of any problem areas that can be patched up by the tutor.
Such AI services can also be used to provide smart content and test to the students that he can use to prepare in the best way suitable for him. This study material is tailored to them so they never feel like it is too easy or too challenging.
Moreover, artificial intelligence apps also accurately grade essays and other written responses. This frees up time for the tutor who can now focus on his focal duty of teaching. This extra time may be utilized to clear any doubts or difficult concepts.
This is why there is a huge demand for AI mobile app ideas in the education field.
#4. Finance apps
Looking at the diversified demand of services from the entire financial sector, you can assume that AI needs to be really powerful in AI-based Finance apps. Banking and financial apps use artificial intelligence to provide better services.
AI-based apps provide accurate credit scoring as it is based on more complex and sophisticated rules compared to those used in traditional credit scoring systems.
Loan-issuing apps and Digital banks use Machine Learning algorithms on alternative data, like from that of a smartphone, and evaluates loan eligibility and provide customized options
Another one of the important artificial intelligence applications is market analysis. AI is quite useful when it comes to analyzing real-time activities in any given market. This helps in making accurate predictions and detailed forecasts based on multiple variables and vital to business planning.
Moreover, AI solutions can also be used in fraud detection systems. They analyze clients’ behaviour, location, and buying habits. Whenever anything seems out of order and contradicts the established spending pattern, it triggers a security mechanism.
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Off We Go
It won’t be surprising if you’re in awe after reading these applications of artificial intelligence. Well, to be honest, Artificial intelligence has never failed to surprise us as well. This is why we have been constantly learning and implementing the latest software trends in our mobile and web apps.
We are a leading mobile app, website, software and AI app development company in Canada. We have built apps and software using ML, DL, AI technologies whenever required by our global clients. We have experience in developing apps of various categories, whether it is Android or iPhone app development.
If you have any queries like how to use AI in mobile app, or how much do AI mobile apps cost, or any other doubt, feel free to contact us. All you need to do is fill-up the form given in the footer and one of our sales representatives will reach out to within 48 hours. You may also avail a 30-min free consultation with our technical expert.
This page was last edited on August 21st, 2020, at 11:53 AM.