IS IT SAFE TO INVEST IN ARTIFICIAL INTELLIGENCEimportant to choose viable AI development companies to invest in all the while focusing on the actual technological value that it holds for the business There’s quite the buzz involving AI these days. It is the technological revolution that everyone wants to be a part of. According to market analysts, the AI industry can expect 38% in profit gains by the year 2035. When you are doing business, it all comes down to the customer experience. AI enables smart decision making which helps you to create better products and services for the customers, thus improving the customer experience. No wonder, the big names like Google, Amazon, Apple, and Microsoft, etc. are already heavily invested in AI. Following in their footsteps, the emerging industries are also lining up to implement AI for maximum growth. It is a booming industry with lots of growth opportunities. However, this is not the only time that AI created such a stir in the technology sector. The 1980s saw something quite similar, but it did not pan out as expected. Most blame it on the backdated supporting technology of that time. Whatever may be the reason, several AI companies went bankrupt. The first generation AI companies like Intellicorp, Gensym, and Symbolics are nowhere to be found. Even though we have the supporting technology today, the problem remains in the matter of how and where to invest when it comes to AI and also how to implement it in an already established workflow. Don’t Invest in the Hype Post-2000 has seen a steady increase in AI investments, followed by an increasing number of AI startups making an appearance in the market. However, often what happens is that these startups create an over-hype to attract target industries. These lead to theimplementation of AI where it is not required, and the industry takes a hit in the long run. You need to understand your need for AI before trying to make use of it. Investing in something without knowing and understanding its utility in your business will incur a loss. So first you have to figure out why and where you need to implement AI in your enterprise? There is no point in running behind a tech just because it is being hyped. That’s why one should invest in the value of the technology and not the hype. We are already halfway into that phase when driverless cars are not far from reality. The home automation system is quite within the common reach. And there is a ton of work going on in other sectors starting from healthcare to military that has a direct influence of AI. There is facial recognition software that allows law enforcement to catch criminals. Machine Learning is helping industries to calculate risks in business by analyzing data from the past. Therefore, it is a good time to invest in AI, but you need to do your research first. Before investing in or entrusting any AI company or AI solution provider, make sure if your current workflow is actually compatible to the change. In this respect, there’s a lot to learn from big companies like Amazon, Facebook, Alibaba, Apple, Microsoft, etc. All of these companies are investing and researching on AI. They didn’t just dive, they build their infrastructure around the new technology, after studying its patterns. This strategy has helped them in expanding their business and provide better customer experience. Related Articles: How Intelligent is Artificial Intelligence in Gaming? Turns Out, Not Much How Software Companies can Benefit with AI There are many AI development companies such as, California based HashCash Consultants that can help you understand your need for AI in your business. They can aid you in creating an infrastructure that merges with the technology rather than being forced to implement it. This will create technological value that easily transitions along with future developments.