Artificial Intelligence (AI) is one of the most talked-about topics in technology today. It is being used in almost every field of life, from medicine to education to transportation. AI is already changing the world we live in, and it is only going to get bigger and better.
The best way for you to start your own business with artificial intelligence is by starting a company that uses this new form of technology. The good news is that there are many different ways to use AI in order to create an impact on our lives.
How does AI improve business process management?
Businesses have been using computers since their inception at IBM back in 1943. Over time, these businesses started developing software applications that could automate certain tasks done manually before such as data entry or accounting processes.
In more recent years, Artificial Intelligence has made its presence known when applied to business practices. This means that companies can now apply machine learning algorithms to make decisions based on customer preferences, market trends, competitor analysis, etc.
Read also: Top 20 Small Profitable Distribution Business Ideas
This allows them to provide personalized services while improving efficiency levels. For example, if a user searches online for “best restaurant” they will be presented with options tailored specifically to what they want. They may also receive recommendations about other restaurants near where they currently reside. These types of features allow users to find exactly what they need without having to search through pages upon pages of results.
Best Artificial Intelligence Startup Ideas:
Some of the beneficial ideas are following;
Healthcare AI Startup
Healthcare startups often focus on developing medical equipment or diagnostic systems. However, healthcare professionals aren’t limited to working only inside hospitals. There are plenty of opportunities outside traditional clinics too.
One area where AI technology could be particularly useful is helping doctors diagnose patients remotely. With this type of tool, physicians would no longer have to travel long distances to visit sick relatives. Instead, they could simply send images from home via email or video chat.
AI Security Surveillance
Security surveillance tools help keep people safe in public places like airports, malls, and restaurants. The problem with most security cameras today is that they require constant human monitoring. That means someone needs to check them regularly to ensure there are no problems. An AI-powered system could potentially solve this issue. By constantly watching over footage, an algorithm could spot suspicious activity before anyone notices anything wrong.
Fintech Startup
Financial institutions offer many different products and services to their customers. Some even provide loans directly to consumers. But how do these companies make sure all transactions go smoothly? Most banks rely heavily on manual processes which can take hours to complete.
A startup using AI might find new ways to streamline operations by automating certain functions. This way, financial institutions could spend more time focusing on customer service rather than paperwork.
Robotics
The future of robotics looks bright thanks to advances in machine learning. In fact, one company has already developed a robot capable of performing surgery. While robots still lack the ability to think independently, they’re getting better every day. As such, we may soon see machines perform tasks previously reserved for humans.
AI Home Manager
Home management software helps homeowners organize their lives. It lets you manage your bills, schedule appointments, track expenses, etc. Unfortunately, not everyone uses the same program. So if you want to get things done efficiently, you need to learn each individual app’s quirks first.
Luckily, AI algorithms can automate much of the process. They can analyze data collected from various sources and then recommend actions based on those findings.
AI Based Retail Business
Retailers use artificial intelligence to improve sales. For example, Amazon employs AI to predict what items shoppers will buy next. Similarly, retailers use AI to identify trends among social media users so they know when to stock up on popular goods. These types of applications allow stores to sell more inventory while also providing personalized recommendations.
AI Base Energy and Cost Saving Startup
Energy costs continue rising as demand increases. Fortunately, energy efficiency programs exist to reduce consumption. Unfortunately, it takes a lot of work to implement them properly. If you don’t have enough staff to monitor everything, you risk wasting money.
On top of that, some states impose strict regulations on businesses who try to save energy. To avoid falling foul of government rules, you should consider partnering with an AI startup. Their advanced analytics can automatically detect wasteful practices and suggest improvements.
AI Entertainment Startup
As technology continues to advance, entertainment options become increasingly diverse. Thanks to advancements in virtual reality, augmented reality and other technologies, people now have access to immersive experiences unlike ever before.
However, VR headsets aren’t cheap. And AR devices often require special glasses or headgear. What if you could create content without any additional equipment? With AI, you could! You just feed images into a computer and let it figure out where objects fit within the scene.
Automation Devices Business
As automation becomes more widespread, there are going to be fewer jobs available. That means workers must adapt quickly to keep pace with technological change. One solution is to develop skills that computers cannot yet replicate. Another option is to start your own business selling automated solutions.
The best part about this idea is that you won’t compete against large corporations. Instead, you’ll face smaller competitors who specialize in similar areas.
Image Recognition Tools Business
If you love taking pictures but hate having to manually edit every single one, why not turn your hobby into a career? There are plenty of companies looking for talented photographers willing to upload their photos onto websites like Instagram. But these sites only accept high-quality shots. As such, most amateur photographers end up uploading low quality versions instead.
An AI startup might help by analyzing uploaded images and identifying which ones look good. Then, it would offer tips on how to take better photographs.
E-Learning Apps Business
The world has changed dramatically since schools were first established. Nowadays, students spend much less time studying than they used to. This trend isn’t likely to reverse itself anytime soon. So, educators need new ways to engage learners. E-learning apps provide exactly that interactive lessons designed specifically for smartphones and tablets. They’re easy to set up and inexpensive to maintain.
Plus, they give teachers greater control over lesson design. All things considered, e-learning startups make great investments.
Auto-Generating Report Business
In today’s fast paced environment, many organizations rely heavily on spreadsheets to track data. While this method works well when dealing with small amounts of information, it doesn’t scale very well. For example, imagine trying to analyze millions of rows of data using Excel. It simply wouldn’t be possible.
Thankfully, modern software allows users to automate tasks through artificial intelligence. These tools allow you to build custom reports based on user input.
Recommendation Engine
A recommendation engine works like Google Search but instead of searching for information, it recommends products/services based on previous purchases.
An example would be Amazon recommending books similar to ones previously purchased. Another example would be Netflix suggesting movies based on past viewing habits.
Chatbots
Chatbots are programs designed to simulate human conversation via text messages. There are two main categories of Chatbot development; natural language processing bots and rule-based systems. Natural Language Processing Bots work off keywords entered into a program which then returns relevant responses.
Rule Based Systems take input from specific rules set up beforehand. Both methods require programming skills so don’t expect anyone who doesn’t know how to code to build a successful bot.
Customer Service Software
Companies often hire call centers to handle incoming calls from customers. However, not all people enjoy talking to someone over the phone. Some prefer emailing or chatting directly with a representative.
If you’re interested in creating a service that helps solve this problem, consider building a platform that connects consumers with representatives. You’ll likely charge per minute or per hour depending on the type of product you offer.
Virtual Assistants
Many people think virtual assistants are just fancy voice recognition apps. While those do exist, there’s much more to them than meets the eye. Most virtual assistant platforms include scheduling capabilities, document creation tools, and even social media integration. The most popular virtual assistants today are Siri, Alexa and Cortana.
Customer Support Platforms
When your company is new, you probably won’t get many complaints. But once you start growing, you’ll inevitably face issues with your current support system. That’s why it makes sense to invest in an AI powered solution that provides real-time assistance to help resolve problems faster.
Personalized Marketing Solutions
With the rise of digital marketing, marketers have been able to create campaigns that target individuals rather than entire demographics. This has allowed companies to reach out to their potential clients at precisely when they are ready to buy. In order to make these targeted ads effective, however, businesses must first collect data about each individual customer.
Artificial Intelligence can play a big role here by analyzing consumer behavior patterns and using that knowledge to predict future buying trends.
Customer Relationship Management Tools
CRMs are software solutions used to manage interactions between salespeople and prospects. They allow reps to track leads, follow up appropriately, and automate repetitive tasks. Salesforce is one of the best known CRM providers. It offers both free and paid versions of its app as well as other services such as cloud computing.
Data Analytics & Reporting Apps
Businesses need access to accurate statistics if they want to grow. Unfortunately, manually collecting data isn’t always feasible because it requires time and resources.
AI-Based Mobile App
As mobile devices become increasingly powerful, developers are finding ways to use artificial intelligence to improve user experience.
For example, some applications now let users scan QR codes right within the application itself. Other apps will automatically detect what kind of device the person is running and adjust accordingly. These types of features save users valuable time while also improving overall efficiency.
Cloud Computing Infrastructure
One of the biggest challenges for any business owner is keeping everything organized. From managing payroll to storing files, having a reliable IT infrastructure is essential. Fortunately, cloud computing allows small businesses to store information online without worrying about hardware maintenance.
Plus, since it’s accessible through multiple devices, employees don’t have to worry about losing important documents either.
Conclusion
AI seems to tackle over human job at root-level in no time. Almost 4.2 billion digital voice assistance is in use through out the entire world. If you understand this tool and have access to this, then why not to use it for personal capital generation. Start working with AI and establish your own trade by following any of the above mentioned category which resonates with your skills and interest.
