AI-Powered Features Your App Needs to Stand Out
Discover these AI-powered features your app needs to stay ahead in 2024. Learn how to harness AI's potential through real-world examples and case studies.
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Apps and AI markets are growing hand in hand.
The app market is projected to reach US$673.80bn by 2027 while the AI market is estimated to reach $407.0 billion that same year.
Large companies are betting big on machine learning to fuel their expansion. Canva, for example, recently launched new AI-powered features to speed up its user base growth, increasing it by more than 75% over the past year.
If small to medium companies want to stay ahead of the curve, they must pay attention to AI. Built-in intelligent features will soon be the norm, not a “nice-to-have”. We're already seeing it with AI image editing directly on our phones.
But integrating AI features into your software can be tricky, especially without in-house expertise.
That's why companies turn to Apexive for customized AI-powered solutions. Led by our CTO with 30+ years of experience, we help companies build cutting-edge apps with integrated AI features.
Understanding AI-Powered Algorithms for Apps
AI algorithms process large datasets and use that information to learn, grow, and make autonomous decisions. There are two primary ways machines learn:
- Supervised learning from labeled data.
- Unsupervised learning by identifying patterns in unlabeled data.
This data can be supplied by developers or obtained by the program itself.
Like any project, integrating an AI algorithm into your app starts with defining your goals. The idea is to create an algorithm that aligns with your user's needs. For example, a health app might use AI algorithms to analyze medical images while a finance app might use algorithms to predict market trends.
Spotify's recommendation engine is a shining example of AI-powered algorithms in action. It analyzes listening habits, song preferences, and contextual data, like time of day or user activity, to deliver personalized music recommendations. Users can't get enough: Spotify's revenue ending March 31, 2024, was $15.020B, an 18.88% increase year-over-year.
Key Takeaways:
- Integrating AI into your app in 2024 is a smart move. Large companies are already doing it.
- AI-powered algorithms make apps more adaptive and responsive to user needs.
- This can significantly boost user engagement, retention, and loyalty, giving businesses a competitive edge in the market.
- AI is becoming more accessible to implement. Open-source frameworks, like TensorFlow, help simplify the dev process.
AI-Based Data Extraction for Apps
Clive Humby famously said, “Data is the new oil.” If that’s the case, AI-based data extraction is the refinery, transforming raw data into fuel for business growth. It uses machine learning, natural language processing (NLP), and optical character recognition (OCR) to make sense of unstructured or semi-structured data.
Integrating AI-based data extraction into your software can give you a serious competitive edge:
- Automate data retrieval: Machine learning and NLP algorithms can automatically pull important data from printed documents, scanned images, and electronic files in various formats, removing manual labor.
- Streamline processes: With manual tasks streamlined by machine, your team can focus on the work that matters.
- Gain key insights: Data extraction gives you crucial information about your business, from operations to marketing performance and beyond.
- Improve strategic choices: With accurate and relevant data, you can make informed decisions that drive growth and success. Data-driven strategies replace guesswork.
- Offer AI-driven data analysis as a service: You could stand a lot to gain. The global AI data management market is projected to grow 22.8% (CAGR), from USD 25.1 billion in 2023 to USD 70.2 billion in 2028.
Case Study: WhyConsult
In 2023, WhyConsult approached us with a vision to create a robust platform for legal consultants, complete with AI-driven data analysis and reporting. We were excited to help them bring this idea to life!
Our team developed an Odoo-based platform that harnesses the power of AI technology and integrated tools to provide a seamless experience for their clients.
Following our Development Philosophy, we leveraged DRY principles and reused highly tested existing code whenever possible, combining AI with open-source ERPs to build the software efficiently.
Our CTO provided expert guidance to help WhyConsult make informed technology decisions that maximized their tech ROI.
The result? WhyConsult now has a platform that simplifies and streamlines work for legal consultants. They can offer AI-driven data analysis to their clients, positioning them at the forefront of technology offerings in the legal world.
Benefits of AI-Powered Predictive Analytics for Apps
Predictive analytics uses historical data, mathematical models, and machine learning to predict future events.
The process involves defining a goal, collecting and cleaning massive amounts of data, building predictive models using sophisticated algorithms, and deploying these models to make predictions.
Amazon is known for mastering predictive analysis. They analyze customer browsing and purchase history to make highly personalized product recommendations. Amazon also uses predictive analysis to forecast product demand and optimize inventory accordingly. Their investment in AI has paid off big time. Amazon's overall revenue surged to $143.3 billion in 2024, a 13% increase from the previous year, exceeding Wall Street expectations.
If you take a page from Amazon’s playbook, integrating smart predictive analytics into your app can offer several benefits. These are just a few:
- Personalized User Experience: Make your app feel tailor-made for each user with features like intelligent content suggestion and more. Create a customer experience that feels personalized and delightful, fostering loyalty.
- Improved Marketing: Gain valuable insights into what users are likely to purchase, so you can make timely and relevant suggestions that drive conversions.
- Efficient Resource Allocation: Identify bottlenecks and pinpoint where to allocate your resources.
- Predictive Maintenance: Troubleshoot your app, anticipating and addressing potential issues before they impact your users for a seamless app experience.
AI Image Recognition Boosts App Engagement and Beyond
Image recognition software can revolutionize how apps and users interact, particularly in industries like E-commerce. For example, by integrating computer vision technology, an E-commerce app can identify objects in images, enabling features like visual search, where users can find similar products by simply uploading a photo.
Big E-commerce companies like fashion retailer BooHoo Group are already using AI for visual search, helping the brand unlock new levels of personalization.
AI image recognition can boost apps beyond personalization:
- Segment Customers: Analyze visual preferences to segment customers, enabling targeted marketing efforts.
- Create Interactive Experiences: Power immersive experiences like augmented reality (AR) and virtual reality (VR).
- Streamline Search: Allow users to use images instead of text-based searches.
- Enhance Security: Detect and prevent fraudulent activities by analyzing images and identifying suspicious patterns.
- Improve Accessibility: Make your app more accessible with image-based interfaces.
AI Agents and the Future of Software
AI agents are autonomous software systems that can perceive their environment, make decisions, and take actions to achieve predefined goals — without humans lifting a finger. While we aren’t fully there in terms of having an AI personal assistant, we sure are close.
Agents use technologies like machine learning, natural language processing, and computer vision to sense, interpret, and interact with their surroundings.
Prime examples of today’s AI agents include Amazon's Alexa, Apple's Siri, and Google Assistant. With voice commands, they can order groceries, adjust your home lighting, and more.
As AI agents become more advanced and integrated into our lives, it's exciting to imagine the possibilities. Will we reach a point where apps become replaced by highly sophisticated AI agents that cater to our every need? Our CTO delves into this fascinating topic in his new article series, The Future of Software.
Embrace AI to Future-Proof Your App
As we move further into 2024, it's clear that AI-powered solutions are no longer a luxury but a necessity for apps to thrive. Consumers are growing accustomed to the convenience and personalization that AI brings. Soon, they’ll expect nothing less from their favorite apps.
Integrating AI features early on helps you stay ahead of the curve. Our seasoned dev team is here to help you create customized AI-powered solutions that will set your app apart.
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