Key takeaways:

• What is AI (Artificial Intelligence)?
• What is AI Integration?
• Why do businesses need AI integration?
• What are the benefits of AI Integration in Mobile App and Web App Development?
• AI Integration in Mobile App and Web App Development at Lizard Global

AI or Artificial Intelligence is the development of computerized systems that can execute tasks that usually require human intelligence. In our blog Machine Learning & AI: What's All The Fuss About?, we dove into what is Machine Learning & AI, along with the future prospects of it. Make sure to give it a read to grasp the full concept of Machine Learning and AI.

In this blog we’ll be diving into the integration of AI in businesses, how it benefits businesses, and why you should be integrating AI in your business. Before we go full on, let's get an idea of what AI integration is.

What is AI Integration

AI integration is the incorporation of artificial intelligence (AI) into different systems, applications or processes to improve their capabilities and efficiencies. Just think of it this way, AI can be applied to almost any feature imaginable. This comes in the form of machine learning models, natural language processing (NLP), computer vision and many more that enable the automation of tasks, the making of data-driven decisions, and the improvement of user interactions.

For example, imagine needing a bot that can instantly help customers by answering their queries through proper understanding of the customers questions and responses. This is where AI integration comes into play, the bot is trained to know the types of frequently asked questions and the answers suitable for said question.

This is done through the processing of a vast pool of data, or analyzing photos to recognize objects or even faces that the AI is trained with. This is something that is already in use today by numerous companies in various industries. Some integrations of AI are more well known compared to others, most people think of AI as robots for example Sophia, the social humanoid robot developed in 2016. However, there are many other types of AI in use today, for example, Amazon’s personalized recommendation for its customers that uses AI to suggest products to customers based on browsing and purchase history.

With the direction businesses are heading towards, it is crucial to not only keep up with the current technological advancements but be at the forefront of integrating it in business.

Why businesses need to integrate AI

Now you may be thinking, okay AI is great and all, but is it really necessary? Wouldn’t it be a waste of money investing in AI when I can spend less money hiring people or putting it in a different focus area?

Here’s what Lizard Global’s CTO, Guido van Beek had to say about that: “AI is much better than humans in making data driven decisions from huge datasets. AI is fast in responding- where a human can handle one task at a time, for instance talking to a customer, for AI it’s limitless. This enhances customer experiences and lowers costs.”

So to answer that question, no AI integration is not a waste of money. With AI integration you’ll not only end up saving cost, you’ll also be improving the efficiency of your business which in return will help boost your revenue.

Still not convinced? Here are 6 reasons why businesses need to integrate AI:

1. AI integration increases efficiency

The purpose of AI is to reduce the workload of humans. As such, AI automates routine and repetitive tasks which helps reduce the time and manpower that’s usually needed to complete such tasks. This gives employees the chance to focus on more important matters adding greater value to your business while increasing employee productivity.

The simplest example of this would be AI-powered chatbots that are equipped in handling more inquiries that give human agents the time to focus on dealing with more complex inquiries from customers.

2. AI integration enhances decision-making using Lean Analytics

The ability for AI to process and analyze vast amounts of data is far more quick and precise than humans. This enables businesses to make quick, and accurate decisions based on a comprehensive analysis of the obtained data. This helps improve the outcomes in areas such as marketing strategies, financial planning, and operational adjustments.

For example, in finance with the introduction of AI algorithms, the market trends and stock movements can be predicted with a greater precision compared to when humans are tasked with it.

3. AI integration improves Customer Experience (CX)

With all the advancements in AI we are now able to personalize interactions with customers based on customer data, predict customer needs, and provide solutions swiftly. This prompt and personalized response increases customer satisfaction and eventually their loyalty. The added bonus is the fact that AI does not need rest which enables virtual assistants and chatbots to be operational 24/7.

An example of AI integration improving customer experience is platforms using AI to recommend products based on the purchase behavior and browsing history of the customer.

4. AI integration drives innovation

AI provides businesses with advanced tools and capabilities that improves decision-making and reduces the time spent on mundane tasks. Whether the integration is on the mobile app or creating a smarter web app this leads to the ability to create new products and services. AI integrations gives businesses the opportunity to explore paths that may have not been on the company’s radar otherwise.

For example, platforms like Uber and Airbnb use AI to match their supply and demand, optimizing routes, and enhancing user experience.

5. AI integration gives business a competitive advantage

The competitive edge that comes from AI integration is through the quick and accurate processing of data. This enables businesses to effectively adapt to market changes while offering better products and services in line with the customers wants and needs. The competitive advantage of having superior customer service can’t be undermined as well, as mentioned previously, better customer service leads to better customer experience, which in return leads to increased customer satisfaction and loyalty.

Take for example, JPMorgan Chase uses AI for customer service (chatbots), fraud detection, and algorithmic trading. With these three areas - risk management, analysis, and customer service - integrated with AI, the company is able to provide the best customer experience, execute trades at optimal times, and detect fraudulent transactions in real-time.

6. AI integration enhances Risk Management

The capability of AI in identifying patterns and anomalies that could indicate possible future issues is what makes it crucial for risk management. AI helps enhance the risk assessment in various areas such as finance, cybersecurity, and compliance. These are crucial aspects of any business as any problem faced in these areas can be detrimental not only to the business’ revenue but also the reputation. And we all know that once a business’ reputation has been tarnished it is almost impossible to recover from it.

An example of this is HSBC’s AI and machine learning to better detect financial crime. Their AI systems analyze a substantial amount of transactional data to identify activities that are suspicious that could indicate probable money laundering or fraud. This integration helped increase the detection of financial crimes, reduced false positives, and allowed the human analyst to hone their focus onto more pressing cases.

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What are The Benefits of AI Integration in Mobile App and Web App Development

Right at the top of anyone’s head, the main benefit of integrating AI is the efficiency and automation of tedious tasks that saves time and cost. But there’s so much more than just these. We’ve narrowed it down to 4 impactful benefits to help you understand better the importance of AI integration.

1. Automation of tasks

Though you may have heard of AI making tedious tasks easier with automation, but what exactly does this mean? What type of automation are we talking about? Well in software development (app development) integrating AI can help automate tasks such as scheduling, sending reminders, filtering and sorting information, chatbot/virtual assistance/customer service, text editors or autocorrect, e-payments, face ID to unlock phones, filtering spam and so many more.

If we look into the interactivity of an app, we are able to see that the more interactive and responsive an app is the higher the engagement rate. Here, AI is able to generate dynamic content that customizes the user's interaction style and context. A classic example of this is Instagram, ever notice how your video feed changes when you like or comment on certain types of reels and almost every video you see after that is on the same or similar topic? Yeah, that’s AI doing what it does best, personalizing the content for you.

2. Personalization for better UX (User Experience) through predictive features

AI gives companies the ability to not only track user interaction but also their preferences which enables it to personalize content, recommendations, and services that suit their needs. These personalizations tremendously increase the user experience elevating engagement, satisfaction, and the possibility of customers recommending your app to their friends and family. A great example of this is Netflix, they use AI to analyze the preferences and behaviors of their customers and recommend personalized content.

This personalization also plays into the AI capabilities of predicting user behavior based on the vast amount of data it is fed. For instance, based on past behaviors, AI is able to predict what a user might search for or the kinds of product they may be interested in.

3. Better Business Decision Making

With the incorporation of AI-driven analytics, businesses can gain insights from data collected through an app. Through this, businesses can get a breakdown of their data analysis, predict outcomes, and optimize their choices. This also enables businesses to offer users products and services that’ll be more valuable to them. Through AI,businesses have the competitive edge as they are able to make informed decisions, in a timely manner.

For example, Salesforce, one of our partners, uses predictive analytics to pinpoint potential sales opportunities and customer churn risks. This helps their business tailor their marketing efforts and customer service to improve customer retention and sales.

4. Real-Time Updates and Interactions

Some industries rely heavily on timely data, such as stock trading apps or manufacturing companies. With AI real-time data processing is possible by providing the tools and information needed to keep up with the fast-paced nature of these industries.

For example, manufacturing factories adopt AI machine monitoring to detect and predict possible machine failures in real-time. It also schedules servicing before a breakdown occurs. This helps reduce the downtime and maintenance costs allowing for continuous production. For the traders out there this next example would resonate. QuantConnect and MetaTrader are trading platforms that use AI to develop and execute trading algorithms that are able to execute trades in milliseconds with real-time market data.

AI Integration in Mobile App and Web App Development at Lizard Global

At Lizard Global, we not only keep up with the latest advancement in technology, we also make it a point to integrate it in our developments as we recognize the importance of AI and its integration in mobile app and web app development. We have vast experience in AI implementations for our clients, some of our experience include the implementation of facial recognition for the purpose of identity validation, object recognition to count and qualify harvest, pattern recognition for recommendations on mortgage credibility, chatbots for customer support and many, many more.

Thinking of integrating AI in your business? Find out why hiring an AI Consultant is the best solution for you here

Our skilled developers are ready to guide you through every step of the process and create AI-powered applications that cater to your business needs. Reach out to us to find out how we can help you develop your app idea with the implementation of AI? Don’t hesitate to contact us on our social media channels or website for more information.