For a very long time, artificial intelligence has existed as a technology of fiction. Whether to call it fate or not, somehow, the concept of robots first came to people’s notice through sci-fi movies. From there, computing and the ability to process massive amounts of data took shape into emerging technological developments. Almost five decades later, here we are trying to merge the two massive technological transformations namely artificial intelligence and SaaS. AI in SaaS is helping users scale their revenue by offering better products and personalized customer experiences.
Artificial intelligence is one of the biggest trends that took the world by storm in the 21st century. After working alone for a long period, it is finally time for SaaS to adopt artificial intelligence and sophisticate its services. According to an IDC report, the SaaS sector makes up about 68% of the whole cloud market share. The industry experienced immense growth in the first decade of the 2000s. But things changed afterward. It is recently recorded that SaaS is one of the slowest expanding cloud sectors with just 22% growth every year until last year. Even venture capital funding in the sector has also drastically fallen in the near past. Therefore, more than taking artificial intelligence as an add-on, the SaaS industry should opt for it as a necessity.
Not just artificial intelligence, some SaaS companies are also embracing machine learning to provide advanced customer experiences. The global SaaS market is estimated to grow at a CAGR of 22.6% until 2025 and will account for US$36.72 million in the same year. By infusing AI in SaaS, the growth is anticipated to be even more astonishing. Big players like Amazon, Google, Microsoft, Oracle, and Salesforce have already embraced artificial intelligence to strengthen their presence in the SaaS market. This is a solid indicator that the future will unravel more AI in SaaS solutions and services.
Helps Leverage Tailored Services
Customer expectations have changed over the past years. Today, even mobile shopping and entertainment apps provide tailored suggestions to users. Therefore, not just big companies, even small players have to gear up their game for a hyper-personalized future. Artificial intelligence is the only way for SaaS companies to encompass a customized service for their clients. Artificial intelligence has the ability to learn through language processing, making it easy for customer understanding. Even if SaaS companies choose to go without integrating with AI, it will eventually reach its end in the upcoming years.
Prevents the Existing SaaS Business
Many businesses are already a part of the SaaS programs that have added value to their operations. But as technology evolves, it is time for them to make sure their existing SaaS services work seamlessly with the help of artificial intelligence. To do that, companies have to ensure their products deliver the maximum possible value and a great all-around user experience. This addition leverages improved customer satisfaction and provides a win-win for both SaaS companies and their customers.
Streamlines Automation in Remote Places
While SaaS is often hailed as the major tech wind of the 21st century, the infusion of artificial intelligence and automation to it would further transform more manual functions to automatic mode. Automation cuts down the cost spent on human employees and also helps workers engage in intellectual works rather than repetitive or time-consuming jobs. Currently, one of the biggest challenges that the SaaS companies are facing is the connectivity issue on remove programs. Artificial intelligence can help that by reducing remoteness and stepping in to supplement the human effort.