How the Evolution of Artificial Intelligence and Machine Learning Will Transform the Software-as-a-Service (SaaS) Market

Software as a service (SaaS) is becoming an increasingly viable choice for organizations looking for accessibility, functionality and flexibility. SaaS relies on large-scale cloud delivery, available connectivity, and enterprise-grade security. Simply put, the SaaS-based cloud model offers businesses significant resource and cost savings.

SaaS has evolved to the point where users and vendors manage their own software, with no human intervention required as software is distributed instantly over the internet via the cloud and this is only going to become mainstream. Gartner predicts that the global SaaS industry will be worth more than A$200 billion by the end of 2022. In Asia-Pacific, the market is expected to grow at a compound annual growth rate (CAGR) of 34.28% at during the forecast period 2018-2023. .

As part of the continued evolution of SaaS solutions, artificial intelligence (AI) and machine learning (ML) are rapidly becoming integral parts of the SaaS ecosystem. With breakthroughs in automated computing and powerful data management machines, both play a vital role in SaaS.

AI will take on a life of its own

AI is positioned to disrupt the data protection landscape in various ways, helping to improve key characteristics of the SaaS model at all levels, such as high availability and self-provisioning. When SaaS is combined with AI capabilities, it enables companies to extract better value from their data, automate and personalize services, improve security and organize human resources.

The advent of SaaS coincides with the almost ubiquitous concept of big data, which allows organizations to analyze, extract and use data too complex for traditional data processing application software. By leveraging AI, SaaS has a distinct advantage, which is that the software provider can access aggregated data from different customers, which can be leveraged to develop more personalized customer experiences. With modern IT operations challenged by the rapidly increasing amounts of data and the variety of tools to monitor that data, many Asia-Pacific businesses are turning to AI solutions to help prevent, identify and more quickly and seamlessly resolve any potential outages or disruptions.

ML will deliver top-notch customer experiences

ML, a subset of AI, enables businesses using SaaS to dramatically improve personalization. This is important because consumers demand individual experiences tailored to their specific needs. ML can help by providing analysis of a user’s previous actions, giving businesses actionable insights into their preferences and interests, even before a purchase is made. This allows organizations to configure user interfaces that provide that all-important personalized experience.

In addition to helping businesses deliver more individualized campaigns, AI and ML offer innovative new features like voice control to more accurately track user behavior. This is great news for revenue retention and reduced turnover, as customers tend to show increased interest in a brand with which they have had a positive customer service experience.

ML will continue to automate responsiveness in customer service reports and applications, such as AI-powered live chatbots. As ML is built on an autonomous operating model, new upgrades will facilitate software and platforms that will allow companies to sift through large amounts of internal operations so they can focus on delivering seamless experiences to customers.

Improved mobile-focused design and functionality

Mobile devices and displays require a unique set of features and functionality, and by emphasizing mobile-first design and development, businesses using SaaS infrastructure are likely to see a significant return on investment. over the next year and into the future.

With the mobile-centric design approach gaining traction, it can be inferred that the future of mobile SaaS is application-driven. Research shows that there are 2.59 billion smartphone users in the Asia-Pacific region, which accounts for about two-thirds (64%) of the region’s total web traffic. This means that mobile apps are woven into the everyday life of the average user, and businesses that don’t offer the same experience may end up losing a significant portion of their loyal customers, especially among younger, digital-native generations. .

Keeping up with the latest trends requires original thinking and adapting to current times. This is why prioritizing mobile apps and mobile-first design is a necessity. It’s already too late to argue whether your business should go the mobile-friendly route, as smartphone users are increasing by the minute – and it’s only expected to increase at an exponential rate.

The future of SaaS

AI and ML have already disrupted and will continue to play a vital role in the expansion of SaaS offerings. Their long-term applications provide endless opportunities, which has opened up a bright future for the industry.

AI represents the start of a new era for businesses and consumers, an era that enables companies to be more efficient in high-volume manual processes and in tune with customers. In a dynamic industry that is constantly changing and adapting at a rapid pace, companies looking to use a SaaS model must make room for AI and ML in their technology stack.


Source link

Comments are closed.