Which Industries are Adopting No-code AI platforms?
No-code AI is one of the most promising tools, allowing users to build and deploy AI-based applications efficiently without coding expertise. With the help of this tool, users can evaluate, categorize, and develop predictive models without writing complex code, making it one of the promising tools to leverage AI technology. This tool can develop unique AI applications specifically designed to align with particular business needs. It streamlined the process by extracting complex details, allowing users to understand the goal instead of getting confused with the technicalities of coding. Therefore, no-code AI platforms provide user-friendly, menu-driven interfaces that ease application modifications, eradicating the need for programming skills.
The integration of AI and machine learning is expected to bring profitable market opportunities as many industries are adopting AI-based solutions to automate various tasks. Natural language processing technology is one of the industry applications of no-code AI platforms that are widely implemented into chatbots, voice assistance, and translators for websites and internal use. Kensho Technologies launched its latest natural language processing (NLP) solution, Kensho Classify, in March 2023. It extracts value from vast amounts of documents by creating more discoverable content, allowing easy analysis of text, content recommendations, smart search, and streamlining research.
There are various sectors leveraging no-code AI tools, including the healthcare industry, to enhance healthcare services and improve patient care. Various operations such as booking appointments & filling prescriptions, and patient identification can be quickly made by no-code AI tools. The incorporation of AI in the healthcare sector can help healthcare staff automate tasks that are time-consuming and require high effort. With the use of no-code AI now, healthcare staff can develop their own AI-powered robots to enhance patient care. For instance, in 2021, ABBYY launched a new no-code AI platform to support the healthcare sector to speed up digital transformation. Vantage 2 is a novel low-code/no-code AI platform that lets healthcare staff choose AI tools to manage medical billing, revenue cycle management, and other administrative applications.
Digital transformation has become paramount in various industries as it has proven beneficial for multiple business domains using no-code artificial intelligence. Besides the healthcare industry, the banking and finance sectors have adopted no-code AI to streamline the processes. No-code AI helps monitor and predict the risks involved in the banking sector. It allows easy analysis of data that can help in better decision-making in the financial industry.
The adoption of AI in various industries has created a high demand for many software applications in recent years. A report by McKinsey estimated that up to 15% of the worldwide workforce, or nearly 400 million workers, may be replaced by AI by 2030. Moreover, 6 out of 10 current occupations have more than 30% of technically automated activities that do not need human interference.
Manufacturing, healthcare, banking, and telecommunications are some of the verticals implementing no-code AI solutions to improve productivity and customer relationships. 64% of businesses depend on AI to increase customer relationships and hence help in enhancing client interactions, according to Forbes Advisor. Moreover, the introduction of AI can add GVA (gross value added) by 2035 in the manufacturing sector by improving efficiency and productivity. This shows that businesses should employ AI to enhance customer satisfaction.
No code AI finds applications across industries, allowing users to streamline workflow and enhance overall efficiency. Some new no-code AI use cases across industries are inventory management systems, project management dashboards, prototyping and MVP development, website and landing page creation, and employee onboarding portals. Healthcare, E-commerce, education, and non-profit organizations are widely using no-code AI tools to simplify and automate various tasks.
The increasing application of no-code AI in different sectors is fueling demand for different types of no-code AI for specific tasks. For instance, in the healthcare sector, it allows healthcare staff to create applications for patient management systems, such as telehealth applications and data collection tools for improving patient care. In the e-commerce sector, businesses are using AI to build online store and customer service portals, simplifying e-commerce operations. No-code AI is also widely used in the education sector to develop e-learning platforms, course registration portals, and remote learning.
Machine learning is widely gaining adoption everywhere. From the algorithm behind every day Google searches to voice assistants, chatbots, or image face recognition when unlocking cell phones. ML is such a powerful tool and has already revolutionized every industry around the globe. Industries are integrating no-code machine learning to fill the gap in businesses that don't have in-house AI talent. Moreover, no-code machine learning is an ideal option for non-technical people.
The adoption of no-code AI is rapidly increasing across various industries due to the growing awareness regarding its benefits, such as simplifying complex AI-based tasks, increasing efficiency, making model deployment more accessible, faster model training, and saving costs. Simplifying complex AI-based tasks is one of the key benefits of no-code ML platforms. Furthermore, its application in various sectors helps to improve the efficiency of predictive analytics projects. Besides, no-code ML platforms allow deploying models from development to production comparatively easier. Furthermore, its adoption can significantly reduce the overall cost of software development.
The rapid evolution of AI and deployment of ML around the globe is contributing to the growth of the no-code AI platform market. Automated machine learning is gaining importance in organizations that lack ML competence. No-code AI platforms improve delivery time, reduce damages, and enable data science to be more practical, providing lucrative opportunities for market growth in the coming years.
Therefore, no-code AI is changing how software is developed and deployed, enabling businesses to bring their ideas to reality without writing code. With the no-code AI use cases across industries and several platforms available, no-code development has shown its value in increasing proficiency, empowering users, and accelerating innovation. Additionally, key players in the market are investing heavily in bringing new platforms. For instance, Basetwo, a no-code AI platform for manufacturers, announced that it raised USD 3.8 Mn in seed funding in May 2022 to enable pharmaceutical process engineers to develop digital twins of their manufacturing plants to increase process development and efficiency.
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