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Growing cloud adoption has ushered in an era where businesses of all sizes have equal and fair access to advanced computing capabilities. Digital revolution has broken the entry barriers that had until now prevented small and medium businesses from accessing the benefits of advanced technology available to large organizations. One such innovative service is artificial intelligence as a service. According to Markets and Markets, the AI as a Service market is projected to grow to $10.88 billion by 2023, particularly driven by the growth in cloud and web-based API segment.
World Class Resources at Affordable Costs
Cloud providers have begun offering artificial intelligence as a service, making it possible for SMBs to bridge the infrastructural chasm that existed between enterprise-scale organizations and SMBs. This democratization of AI makes it possible for the SMBs to access automated and semi-automated cloud-based artificial intelligence services in order to fuel business growth and increase revenues.
Cloud providers are aware of the financial limitations that SMBs face. In order to make AI as a Service accessible and affordable for the SMBs, cloud providers have come up with an innovative solution in the form of pay-per-use. What this essentially means is that while SMBs have access to unlimited resources and can avail of the automated production capabilities to develop artificial intelligence algorithms, they only pay for the resources they actually use. This enables SMBs to use cutting-edge technology resources even when they do not have deep pockets.
Leading the Way
Some of the organizations that are leading the democratization of artificial intelligence are IBM, Microsoft, Google, and Amazon. These organizations are offering free tools that enable developers to leverage pre-built algorithms and models to develop and deploy custom models. Taking a cue from these tech giants there are numerous start-ups that have also begun offering similar solutions.
Innovative practices pushing democratization of artificial intelligence have disrupted the way businesses operate. It is now up to the businesses to leverage the power of this technology and offer differentiated services to gain a competitive advantage.