Leverage AI-powered SaaS to roll out platforms and not just software.
A steadily growing AI from its nascency is showing tremendous potential to transform businesses worldwide. The market value of AI is predicted to reach a whopping $1,811.8 billion by 2030, indicating its rapid adoption in the industry. And, Artificial intelligence is also proving to be a game-changer in reimagining the whole SaaS mindset. AI-infused SaaS has opened the floodgates to multiple benefits for organizations working in the SaaS space. Hyper-personalization has emerged as the top benefit of AI-integrated SaaS for organizations operating in the B2C, B2B, and DTH spheres.
However, why does SaaS need AI?
How Can AI Enrich SaaS?
SaaS became so popular since its inception because it helped businesses nullify the costs required to install and manage the software, hardware acquisition, back-ups, and maintenance. Organizations no longer needed large data centers as third-party SaaS vendors delivered SaaS via cloud computing and the internet.
Today, the new avatar of SaaS is SaaS 2.0, which was built to deliver as service platforms for organizations. Traditionally SaaS has always been perceived as an all-encompassing software delivery platform. On the contrary, SaaS 2.0 focuses on an organization’s business processes, objectives, and workflows rather than just software delivery, as in SaaS 1.0. Improved SLAs are a driving factor for SaaS 2.0, which intends to roll out a more robust infrastructure and application delivery platform. As most applications are moving to the cloud, SaaS 2.0 projects SaaS Integration Platforms as hubs to provide software delivery and integration, delivery & management of services.
SaaS 2.0 essentially breaks down the monolithic pattern of traditional SaaS. SaaS 2.0 is a modularized platform with a UX-first approach that intends to magnify the scope of what businesses want to offer. When AI is coupled with SaaS 2.0 about customer support, personalization, and security, it helps SaaS customers leverage the platform to the fullest, bringing profitability to the businesses involved.
Below are the attributes of SaaS 2.0.
SaaS is expected to bring more practical, secure, and adaptable business and work processes within organizations. SaaS 2.0 sells because it helps clients do more with the platform than traditional SaaS solutions. It should enable organizations to achieve their business goals faster.
Today’s key differentiator for SaaS vendors is to provide their clients with business models that add value. The new SaaS should include value-added services such as managed services and application functionalities.
SaaS 2.0 is expected to be a benchmark for business improvement and drive internal organizational change. Better and efficient business decisions and capabilities must be the main characteristic of SaaS 2.0 attributes.
AI and Data alerts are another powerful features of AI-based SaaS solutions. The alerts are triggered by leveraging state-of-the-art AI algorithms from vendors such as AWS that use neural networks for anomaly detection and machine learning for pattern recognition. Data alerts learn from patterns and detections and let companies know if anything unusual happens within the organization’s scope. This helps business control as internal stakeholders can act upon these alerts to avoid an unfateful turn of events.
All this does seem like a tall order for SaaS 2.0 to achieve. AI and its subdivisions help add the needed juice for SaaS 2.0 to deliver on its expectations. Let’s look at how AI powers SaaS to achieve desired results.
Artificial Intelligence Powered SaaS
AI-powered SaaS solutions elevate to a new degree when Artificial Intelligence combines machine learning (ML) and natural language processing from service providers such as Amazon. The combination introduces a whole new level of responsiveness and conversation between customers, businesses, and technology in business situations. AI-powered SaaS brings other advantages to the table: improving business processes, automating repetitive tasks, and supporting human abilities, especially in customer support.
Briefly, AI and its subcategories will disrupt SaaS 2.0 in unique ways, improving the SaaS integration model applicable to all. When merged with SaaS 2.0, AI bolsters company data, automates and personalizes service, boosts security, and supports human capabilities.
Hence, AI is predicted to bring a bright future for SaaS, courtesy of its three unique qualities.
Amazon’s NLP with AI easily recognizes and processes voice controls and human speech, improving customization, customer service, and better addressing customer needs.
The speed of making decisions, obtaining answers, making forecasts, and responsiveness drastically improves with AI-enabled SaaS instilling efficiency in business processes and operations.
Machine learning and AI help to recognize patterns and automate, respectively. Hence, SaaS can swiftly identify threats and remediate them wherever required, along with a built-in self-recovery mode.
Machine learning has come to the forefront as a crucial AI subset in enhancing SaaS solutions. ML is inseparable from AI concerning SaaS solutions making it fair to assume that multiple ML platforms will emerge to help customers working in various sectors.
Organizations can train their existing software through ML from every interaction or task to gain a higher level of intelligence and become efficient in streamlining existing processes
Businesses can delve deeper into contextual data and insights to lead the markets
Businesses can unleash advanced communication models and enhance collaboration and operations via ML
Cultivating a Strong AI-Powered SaaS Solution
In an age where personalization is necessary for businesses to succeed, AI-powered SaaS can propel enterprises in the right direction. Build, deploy, and configure solutions faster with pre-built and pre-integrated AI solutions and ML models from service providers such as AWS. Improve process automation, anomaly detection, and data-driven insights more efficiently and cost-effectively with AI services. With AI also delivering on the promise of speed and security, the value of your SaaS solution becomes multifold. AI-powered SaaS has multiple use cases in a variety of industries. Customization is the key here — businesses should know which AI solutions work best for their SaaS to deliver maximum results. However, this is not as easy to assess as it looks.
Cambridge Technology has been helping both large & small enterprises build Cloud-based SaaS applications/mobility platforms. As an end-to-end service provider, our capabilities in Artificial intelligence and Big Data; complement our SaaS offerings & provide customers technology edge to ensure they have a game-winning strategy in place. We are proud to be part of this inaugural class of the AWS SaaS competency program and are pleased to recognize AWS for listening to its customers and its partners by developing this competency on its platform.
Talk to us to know how we can help transform your SaaS solutions with the power of AI.