Nowadays, almost every company uses at least one form of a service offering to focus on their core business while outsourcing other functions to third-party experts and partners. Software as a service has the highest global investment, the same as a service strategy is now being used in a new field: AIaaS (Artificial Intelligence-as-a-service).
Artificial intelligence as a service (AIaaS) is to off-the-shelf AI solution that allows businesses to implement and scale AI approaches for a fraction of the cost of a full-fledged AI department. Companies acquire it from a third-party vendor, change it a little, and start using it almost immediately, even if it is yet to be completely customized to their system. As cloud services have grown more widely available, Artificial Intelligence has become more accessible: businesses may now record and store an endless amount of data. This is where Artificial Intelligence as-a-service enters the picture. According to Allied Market Research, the global Artificial Intelligence as a Service market is anticipated to grow at a significant CAGR of 56.7% from 2018 to 2025.
Partnerships to accelerate the digital transformations through artificial intelligence
Market players are adopting strategic partnerships to offer AI-powered improved solutions for the energy industry by combining their capabilities. Digital Intelligence Systems, LLC (DISYS), a global technology company, recently announced a collaboration with the leading provider of AI-powered, cloud-native, quality health, enterprise clinical, safety, and environmental management solutions, ComplianceQuest, to provide revolutionary Environmental Health and Safety (EHS) solutions to consumers in the oil & gas companies.
Under the partnership, D2M, a services division managed by DISYS, would be the principal implementer, and consultant. Through this solution, energy firms will receive an advantage of end-to-end implementation and support with the combined capabilities of ComplianceQuest’s extensive AI-powered Environmental Health and Safety solutions suite and D2M’s outcome-driven Digital Transformation services. With this solution, the safety management of the organizations will be automated and streamlined, ensuring consistency in processes and procedures, and simplifying regulatory compliance.
DISYS and ComplianceQuest’s combined technology and services will assist oil and gas organizations in meeting their employee safety, environmental responsibility, and regulatory compliance objectives. In addition to preparing their customers to get to future projects to market faster, the ComplianceQuest and DISYS collaboration provides energy suppliers with additional benefits, including a way to have more visibility into their sustainability initiatives and compliance with health and safety requirements. Worker safety is crucial in the oil and gas industry. D2M’s Director and Head of Digital Transformation, Naman Kher, believes that combining their knowledge and expertise from nearly 20 years in the industry along with the capabilities of ComplianceQuest will help employers enhance their employees’ health and well-being through better training and automation.
Another couple of firms joined hands to enhance their capabilities with artificial intelligence. The world’s most connected company, Syniverse, recently announced a global alliance with Kore.ai to support its Communications Platform-as-a-Service (CPaaS) service by introducing conversational artificial intelligence (AI) and business services to Global 2000 companies of Forbes. Kore.ai offers AI-first solutions which is a without code conversational artificial intelligence (AI) platform. This solution is particularly for the organizations that serve as a secure framework for companies to build, design, test, deploy, host, and manage virtual assistants, conversational digital applications, and process assistants that optimize employee, customer, and agent experiences across voice, and digital channels.
More than 35 channels in 100 languages are supported by the Kore.ai Experience Optimization Platform, which can be deployed on-premises or in the cloud. This collaboration enables Syniverse to enhance its CPaaS portfolio and provide end-to-end services to organizations, including designing and building internet bot, campaign management, omnichannel selection, message delivery, and analytics/reporting through an expert services team managed by Kore.ai and Syniverse.
Artificial intelligence to improve dental care offerings
The medical industry is one of the sectors that have embraced artificial intelligence quickly to boost efficiency and expand customer offers. Benco Dental, the largest independent provider of oral healthcare supplies and technology, has partnered with the leading company in dental artificial intelligence, Overjet, to offer an FDA-cleared dental artificial intelligence solution to dentists worldwide. Overjet has a dental artificial intelligence technology that is FDA-cleared and which can generate clinical insights accurately to enhance the quality of patient care and practice effectiveness. Through this partnership with Benco, AI technology will now be available to dentists across the United States.
Overjet improves dentists’ diagnostic precision and accuracy by analyzing the data of dental radiographs and identifying and quantifying relevant findings using modern machine learning technologies. The platform has been proven to:
- detect coding and billing faults, thus automating administrative tasks,
- Improving patient education to boost case acceptance, and
- Increase productivity by identifying potential treatment options.
This collaboration unites two best-in-class firms to promote oral health for everyone with innovation. With Overjet’s advanced dental AI and Benco’s extensive dental distribution network, the digital transformation of Artificial intelligence in dentistry will indeed be accelerated even further.
Covid-19 impact
The outbreak of covid-19 positively affected the global artificial intelligence as a service market. As artificial intelligence is a critical strategy for dealing with the various challenges during the pandemic, thus increasing its demand in the market. AI, a major technology of the fourth industrial revolution, is an essential non-medical intervention for combating the current global pandemic, preparing for future pandemics, and regaining resilience. Individuals and corporations can experiment with AI for a range of applications using AI as a service without a large upfront investment and with a lower risk.
The demand for artificial intelligence as a service is anticipated to grow speedily in the post-pandemic era. This is due to the rapid adoption of artificial intelligence in industries across various verticals. The global market for artificial intelligence as a service is expected to witness new growth opportunities in the coming years.
