Artificial intelligence (AI) is rapidly growing because the world is becoming increasingly data-driven and digitally advanced.
Artifical intelligence software companies are powering the next generation of technology. As time goes on, one that will prove beneficial for individuals, businesses, governments and countries worldwide.
Computing power advances, data storage solutions expanding and services becoming more high-end will drive more companies to cash in on building AI for clients. Continue reading to discover five of the best artificial intelligence software companies making waves in the B2B and B2C worlds.
An Overview of Today’s Competitive AI Market
Because AI is becoming more widely used in business, the AI software market is highly competitive. Understandably, most leading companies are some of the world’s most well-known, largest corporations.
According to Statista, the AI software market could reach around $126 billion by 2025. In addition to robust AI software solutions, the market consists of various applications. For example, common AI use cases include machine learning (ML), natural language processing (NLP), robotic process automation (RPA) and computer vision (CV).
Since AI is still in its infancy, some organizations are hesitant to adopt AI solutions. The technology will continue to evolve and become more affordable, likely fostering widespread adoption and driving positive business outcomes for all types of businesses.
From self-driving cars to life-saving medical devices, AI will eventually be infused with all virtual technologies. Many companies, such as McDonald’s, are using AI to improve customer experiences by providing more personalized products and services.
Top 5 Companies Creating AI-Based Software
Various research firms review all economy markets, and the AI-based software market is no exception. High-performing organizations investing in AI often market themselves as Software-as-a-Service (SaaS) companies.
SaaS is a growing business model which involves an organization offering its proprietary software to end-users on a subscription basis. Businesses and consumers can purchase SaaS products and services.
In May 2022, a report from Omdia, a globally recognized research firm, lists five of the world’s most AI-forward SaaS companies, which embed AI into virtually every aspect of a business. Some are cloud-native, while others are undergoing a major digital transformation.
Below is Omdia’s list of the five powerful, elite AI-based software companies creating value for businesses and consumers.
Adobe is commonly known for its novel software, such as Photoshop, Premiere, Lightroom, InDesign and Illustrator. Omdia reports that Adobe receives the highest ranking for two main reasons: C-suite acceptance of AI and taking a business-first approach to any AI investments.
Adobe Sensei is an AI and ML solution operating across Adobe’s suite of products. Here are some benefits Adobe claims its Sensei product can offer to users:
- Targeted marketing for better results
- Effortless content creation
- Make informed decisions
The software is not true AI—instead, it uses AI and ML to offer users these benefits and robust features.
Salesforce comes in at number two. Its original Einstein AI software is useful for Salesforce’s original customer relationship management (CRM) platform, one of its most widely used products. According to Salesforce, Einstein is the only AI solution of its kind. It has three core qualities: data-ready, modeling-ready and production-ready.
In addition to Omdia’s second-highest ranking, Forrester named Salesforce a leader in its Forrester Wave: Customer Analytics Technologies, Q3 2020. Einstein can help companies in business areas such as finance, marketing, service, HR, sales and commerce.
Another organization on the list of artificial intelligence software companies is SAP (System Analysis Program Development). SAP’s wide range of AI services is helping businesses improve productivity, leverage powerful insights and manage data and privacy standards.
SAP offers AI-based solutions in five areas:
- Lead to Cash
- Design to Operate
- Source to Pay
- Recruit to Hire
No matter what pain point a company wants to fix, SAP will have an appropriate AI software solution.
4. Amazon Web Services (AWS)
Amazon is a juggernaut of a technology company, so it’s no surprise it ranks highly in this report. More specifically, Amazon Web Services (AWS) is becoming more widely used across industries. There are over 100,000 AWS customers and hundreds of algorithms and models in the AWS marketplace. According to the official AWS website, data scientists report a 10 times improvement in productivity using the platform.
AI is a complex technology that requires technical expertise and other skills, such as coding, to deliver value. However, these platforms are user-friendly and many providers offer customer service to meet the needs of their clients.
Google offers a wide range of AI solutions for its clients. The company provides products, open-source platforms, public datasets and APIs to give businesses the tools they need to use AI successfully. Google also focuses on building and developing AI models responsibly.
Some people still believe that AI is a negative innovation in society, as it could take over jobs due to its ability to automate tasks. However, it’s worth mentioning that many AI experts suggest the technology works best alongside human employees. Ultimately, members of the global workforce should embrace AI, not fear it.
Expect More Companies to Emerge in the AI Software Space
Artificial intelligence (AI) is an ever-evolving, revolutionary and lucrative field. As we enter 2023, more companies will emerge in the AI space to better serve customers and take advantage of this transformative business opportunity.
These five artificial intelligence software companies are leading the way in the market. Still, as competition becomes more fierce, more organizations will likely emerge to meet ever-changing client expectations.
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