Artificial Intelligence has been a trending topic for more than a decade, but some hurdles still inhibit entrepreneurs from implementing it. Deloitte stated that more than 40% of companies have found AI technologies and solutions are too expensive.
The software and app development industry is experiencing a paradigm shift, with Low-Code development practices allowing IT developers and business users to build applications more quickly. Today, it seems like Low-Code is still in its infancy; however, it will account for more than 65% of application development activity by 2024, according to Gartner. Now, advanced tools are needed to develop smart applications with the right skills that add value to businesses. AI-powered apps and solutions are holding the key to accelerate the growth of the Low-Code movement.
The Low-Code concept is getting popular among developers, Forrester has estimated that over 75% of software development teams will start to use Low-Code platforms by the end of 2021. But what is it? How the combination of AI and Low-Code ensures the agility to adapt to the evolving industry while keeping pace with the changing market scenarios.
In this piece of content, we will explore how to combine AI with Low-Code for your business but before that let’s go through the meaning of Low-Code.
Low-Code in a Nutshell
Organizations today are becoming more competitive, customer’s preferences keep changing on a daily basis. Hence, companies are facing numerous challenges when developing an application for their uses. Earlier, enterprises developed applications and software by using popular programming languages; they were also used to write lengthy code lines. But this was traditional coding.
But now, Low-Code has become popular; With the term “Low-Code AI” we mean the use of Low-Code development platforms with visual, code-free, and drag-and-drop interfaces to embrace AI and ML models. Low-Code AI allows anyone to design the app based on their requirements quickly.
Using Low-Code AI platforms, non-technical people can build apps in hours as they are given ready-made graphical user interface (GUI) and configuration instead of writing lengthy lines of code. It seems like a dream, right? But it’s real. So let’s have an in-depth look at how Low-Code AI plays an important role in business and what advantages it offers.
Why Low-Code Is The Doorway To AI For Businesses
Indeed, AI is no longer a buzzword in the business sector, but organizations still find many obstacles to welcome it with open hands. Cost and deficit of resources are the major reasons. One of the research conducted by Deloitte revealed that the AI technologies and expertise are too costly for them to implement now.
To overcome aforesaid challenges, companies were forced to use Low-Code solutions to build products that would allow them to harness the power of AI and other relevant technologies quickly and without spending huge bucks.
Low-Code AI platforms ensure access to everything required to build, deploy and launch applications within one place; from small to medium to large scale, organizations can meet the rising demands of the evolving business world. Low-Code AI solutions turned out to be extremely beneficial, especially in the time of economic downturn caused by the Corona pandemic.
Low-Code AI platforms features and capabilities include:
- Drag and drop design and development
- Visual modeling
- No-Code workflow builders
- Monitoring and reporting dashboards
Undoubtedly, organizations can overcome several issues with the usage of Low-Code application development platforms. Today, Low-Code AI is making businesses more powerful; here, we will give you few examples of apps that can be created with the power of Low-Code AI:
- The sales team raises an order based on a customer request. If there is no available stock, the production begins. Otherwise, an intelligent bot places the order in an ERP system.
- In banking, a new loan request arrives and a workflow that assists with the decision-making process starts. Based on historical data, the Supportive ML components predict the interest rate and the loan approval decision.
It is fair to admit that these platforms are here to stay as they are not only helping businesses to grow but allow them to embrace technology in the least possible time.
Can Your Organization Benefit from Low-Code AI?
When we discuss Artificial Intelligence from a Low-Code point of view, it is mostly about leveraging Low-Code platforms to deploy AI and ML models to create high-end apps and software products.
Gartner stated that by 2023, more than 50% of medium and large-scale companies would have embraced Low-Code AI as one of their important strategic application platforms.
Companies have already adopted this approach to build flexible, intelligent apps and achieve agile digital transformation. Here are some of the thoughts on how Low-Code AI can transform your business and ensure resiliency.
- Plug and Deploy Resources
- Entrepreneurs can dabble with their idea without spending much
- Go-to-market first
- Optimum scalability
- Foster other tech innovations
Lastly, Low-Code platforms are likely to be the best avenue for companies, especially SMBs, to make use of other high-tech innovations, such as Big Data, IoT infrastructure, robotics, and embedded systems. These tools allow businesses to develop solutions combining technologies to serve specific needs.
There are countless opportunities offered by Low-Code for businesses, regardless of their size and IT budget. Businesses can further find innovative ways to embrace Low-Code AI to become market leaders. If you have not explored these opportunities, now is the best time to do so.
Optimal Combination of Low-Code and AI to Solve Existing Problems
A combination of Low-Code development and Artificial Intelligence allows businesses to remain digitally competitive. We will see even more embedded AI tools for improving productivity and automation in the future.
The amount of time saved and the opportunity for experts from every department to participate in application development is exactly why Low-Code is becoming a catalyst for the increased adoption of AI across all companies.
Deep is an aspiring entrepreneur and Co-founder of Elluminati Inc. Deep having led 75+ startups on the right path with their information-admiring entrepreneurial skill and guidelines. Along with that, he loves to craft content on topics including on-demand economy, entrepreneurship, technology trends, and many more.