AI Apps and Solutions Boost Productivity according to 2024 PwC Reports. The Romanian magazine Ziarul Financiar published an article based on the latest PWC (PricewaterhouseCoopers) reports entitled: “PwC: Financial, IT and professional services most exposed to AI-driven changes. Productivity in these sectors has increased almost 5-fold as a result of AI use”. It has drawn our attention since according to the latest PwC CEO Survey 2024 we learn that 84% of the chief executive officers whose companies adopted AI consider that this will boost their organization productivity. In the same study, 70% consider that AI will significantly change the activity of their company.
According to the recent PwC 2024 Global AI Jobs Barometer, a study that analysed over half billion-job ads in 15 countries, standing for 30% of the global GDP, the studied work productivity has increased 5 times because of using AI technologies.
What we have seen in the recent years happening in the IT industry, popped up in the study as well: there is a rising demand for IT roles needing AI competencies. At Softech we have been working with AI technologies in the field of ML and computer vision since 2017, when we launched our first AI apps. We count roughly 7 years of gathering specific knowledge and competencies in the AI field.
Meanwhile, customers also have already experienced the most common AI based apps and solutions and we are glad to see a greater appetite for developing industry specific AI applications and solutions. Most businesses are now reconsidering their business model and are willing to harvest the benefits of GenAI technologies.
As stated in the conclusions of the PwC 2024 Global Jobs Barometer report, even if it is essential that the workforce upskills their deep AI skills, “some of the skills rising fastest in demand are those which cannot easily be performed by AI”. At this point, we are aware of the importance of always being ahead of the technology in place.
How to Build AI Apps for Your Industry?
As a business owner, brand manager, product manager, industry expert it is critical to understand the needs of your customers and users.
- The first step is to identify the problem that must be solved in an elegant and effortless manner.
- Secondly, it is important to find an AI Development company (as SOFTECH for example) with whom to start drafting the outlook of the AI app.
- Next, you will go into the stage of designing the AI application
- The 4th step will consist of creating the AI algorithm that best suits the desired deliverables
- Next, together with the AI development company you will start choosing the optimal technology stack
- Finally, you will launch the actual AI app.
- As a post-launch step, the maintenance of the AI app will be essential for users and customers satisfaction.
This is in short, the AI App Development process. Naturally, each step can be split in smaller tasks and operations, but that is a matter of discussion when there is an actual project on the roll.
How to Fine Tune Your AI Solutions and Knowledge Base?
Since current AI powered solutions and environments are evolving at high speed, our SOFTECH team recommends you to always balance your knowledge and tech. The AI apps and solutions in your organization ought to be monitored and analysed in order to prepare the terrain for improvements and better use.
Train your new models, adjust your data sets, evaluate your results, iterate if needed and use the fine-tuned model. This process is the recipe for an ever evolving AI model and app.
We will be happy to explain more about the process depending on the characteristic of your project and industry. Feel free to get in touch with us!
