In the past, the adoption of open source software at the company level has flourished, as more companies discover considerable advantages of open source solutions over their own counterparts and a company’s open source mindset continues to change.
Serverless computing is a new category that represents a shift in the way software systems are developed and delivered. The abstraction of the application infrastructure from the code can greatly simplify the development process and introduce new cost benefits and efficiency. Although AI technology has been around for decades, but a convergence of big data, increased computer capabilities, and user demands have created a perfect storm with rapidly evolving AI applications.
Financial service companies can be greatly benefitted by using AI solutions to improve efficiency and reduce costs. It must be clear that the development of AI technologies requires substantial investments and commitment. There is an important learning curve to master the different AI streams, such as natural language processing, machine learning, and data science. Companies can decide to develop this ability in-house or with a company to help them during the journey.
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The AI and cloud union ensure that it is a way of accelerating change and is also a source of innovation. The cloud can provide all the information AI systems need, and at the same time, AI can provide information that can give more data to the cloud.
Technologies supporting business AI platforms such as IBM Watson, Google Cloud Vision, or natural-language programming interfaces enable abstract, complex AI capabilities through simple API calls. AI can be integrated with these companies without investing in sophisticated AI infrastructure. The Transparency Market Research survey predicts that the market is expected to increase from $1.07 billion in 2016 to $19.86 billion in 2025 through the use of machine learning. In the data-oriented world, technologies such as AI and ML have highly advanced, and companies should continuously keep themselves aligned with the continuous developments to meet the challenges of a connected world.