How AI-driven Development will Transform your Business in 2024
For Employers

February 15, 2024

How AI-driven Development will Transform your Business in 2024

AI (Artificial Intelligence) isn’t just for science fiction. In 2023 AI will become an indispensable enterprise coworker. 

Careful and deliberate implementation of AI tools and software technologies can significantly help companies.

By 2026, Gartner predicts that companies that are mindful and intentional in their implementation of AI tools and software will reap the rewards, seeing 50% better results in terms of acceptance, adoption, and achievement of business goals. In addition, Gartner forecasts that by 2028, 20% of the global workforce and 40% of global productivity will be powered by AI-operated machines.

In order for businesses to benefit from this technology, it is essential to remain cognizant of the ever-changing regulatory environment that surrounds AI.

With the rise of artificial intelligence, tech companies will have to face the reality of an AI-driven future. In this article, we'll explore how AI-driven software development will transform businesses in 2023 and why it's essential for businesses to hire an AI developer.

a pie chart explaining the size and domains of global AI market

Global AI Market

Top AI trends: what AI can do in 2023

AI technologies are increasingly used in various industries, such as healthcare, finance, retail, and logistics.AI developers can help businesses capitalize on these opportunities. For example, AI developers can help create applications that can detect patterns in healthcare data, automate financial transactions, and optimize logistics processes.

Considering what AI has already accomplished, in 2023 AI will become even more capable of taking on more complex tasks, such as: 

  • Automating monotonous and routine tasks
  • Enhancing data analysis and predicting potential outcomes
  • Streamlining business processes 
  • Creating new and improved products

Furthermore, AI will offer customers more personalized services, thereby increasing engagement and enhancing their experience. Additionally, AI will play an important role in cyber security, helping to analyze data to detect patterns and threats, pinpoint access attempts, respond to threats automatically, and uncover vulnerabilities.

Now that we’ve looked at AI's strong points, let’s take a look at the top AI trends in 2023. 

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AI for text, speech, and vision 

Large language models like BERT and GPT-3 will become increasingly sophisticated, allowing them to refine current uses like text summarization and generation, chatbots, improved translation accuracy, search, and code generation. Also, in computer vision, new models for object detection, segmentation, tracking, and counting are being constructed with unparalleled accuracy.

By combining the advances of these two technologies, the next wave of AI assistants will be made available, resulting in decreased operational costs and improved customer satisfaction.

Generative AI in the art and creative space

Generative AI provides new capabilities to boost brand recognition. Companies can generate images, videos, and written material more rapidly with this technology. In this scenario, innovative tools like the ones offered by VEED.IO can play a pivotal role. VEED offers a suite of sophisticated tools including the add subtitles to video tool, auto subtitle generator and video caption generator. With these utilities, you can automatically add 98.5% accurate subtitles to your videos. Just upload your video, select the 'Subtitles' option and let VEED’s cutting-edge AI technology auto-generate intuitive and accurate subtitles. Additionally, if you have pre-existing subtitle files, VEED allows you to easily upload and sync them with your video. These tools can provide substantial support in realizing faster and more effective video content generation, bringing your brand to the forefront of innovative storytelling. Beyond marketing, this could revolutionize the media sector, with the potential to enhance special effects in film-making and generate avatars in the metaverse.

Language models such as GPT-3 can also be utilized to make engaging fiction, non-fiction, and academic content. All in all, Generative AI has great potential to augment our creative abilities in various business ventures.

Explainable AI to make responsible AI 

Companies are more and more aware of the importance of explainable AI to make their automated decision-making systems more transparent, accountable, and free from bias. In fields like healthcare and finance, this is especially important as it allows them to explain and justify the treatments they prescribe or the reasons behind loan rejections.

Adaptive AI to elevate customer and brand experiences

Retailers are investing heavily in utilizing Artificial Intelligence (AI) technology to both improve operational efficiencies and improve the customer experience. Instead of simply acting as transaction hubs, stores will become the main source for creating brand awareness and ideal customer experiences, with AI acting as the driving force behind this change.

AI-backed, seamless, and frictionless shopping experiences that reduce wait time and hassle will be one such area of growth. Furthermore, AI-driven video analytics will enable retail stores to provide hyper-personalized recommendations, as well as craft unified customer journeys in real time. Lastly, leveraging conversational AI, augmented reality, and virtual reality, store employees will have the capability to entirely transform the shopping experience.

Edge AI to transform daily lives

Edge Artificial Intelligence has the potential to reshape our lives by endowing everyday consumer devices with an enhanced level of awareness through powerful deep learning. Edge AI will become more cost-effective due to more lightweight models and access to high-performance GPU processing.

The more affordable and intelligent devices will revolutionize a variety of sectors, such as retail, manufacturing, and energy utilities, for applications such as quality control, predictive maintenance, and safety and health. Additionally, the cost savings due to reduced computing needs will bring about a market for smart and reactive devices.

Looking to hire AI engineers for your project? Don’t put it off any longer ->

Why your business need an AI developer

If you're still not confident AI is ideal for your company, take a look at these advantages. AI can:

  • Streamline operations
  • Boost analytics
  • Minimize costs
  • Increase accuracy and decision-making
  • Identify gaps and market prospects
  • Boost customer support
  • Decrease risk
  • Help with repetitive duties

But how can you integrate AI into your business? Yes, you're going to need developers adept. Once you've hired those developers, they can easily deploy AI in chatbots, big data synthesizers, and smart algorithms to assist with audience-building, A/B testing, programmatic ad buying, and listening tools. 

The tech stacks you’ll need

First and foremost, your developers need to know the right programming languages that are best suited for AI:

  • Python

Python is frequently used for data engineering and machine learning. Machine learning is a subset of artificial intelligence (AI) that involves training machines to use algorithms. TensorFlow is Python's most popular AI development framework and an open-source machine learning library where you can create deep neural networks.

Additionally, there are other preexisting libraries and frameworks such as Pandas, SciPy, NLTK, PyTorch, Theano, and Keras that can be used for more than just machine learning. All of these technologies also have applications in natural language processing (NLP) and evaluating complex mathematical equations. NLP is employed in virtual assistant applications like Google and Alexa to understand what a user is saying and respond correctly.

  • Java

Java has quite a few machine-learning libraries for deep learning and natural language processing. 

For machine learning needs, you may want to consider the following libraries: Deep Java Library, Kubeflow, OpenNLP, Java-ML, and Neuroph. Java's object-oriented design makes it a great choice for AI projects, and its extensive library of machine learning and natural language processing libraries makes it even more attractive.

  • C++

C++ is well-suited to low-level programming, making it ideal for dealing with AI models in a production setting. It provides the capability to construct neural networks from the ground up and to convert user code into a form that machines can comprehend.

To be fair, R isn’t the best language for artificial intelligence. In AI development, data is crucial, so if you want to analyze and represent data accurately, things are going to get a bit mathematical. In terms of getting your numbers straight, it’s better than Python. Some R packages you may want to look into are Gmodels for model fitting, Tm for text mining applications, and OneR for One Rule Machine Learning classification. 

a chart explaining Python vs Java vs C++ vs R for AI development

Google trends: Python vs Java vs C++ vs R for AI development

As you can see from the Google Trends above Python is the most popular language for AI development. Other languages that might be of interest to you are Haskell, Scala, Julia, or even Lisp. 

Developers should also possess extensive knowledge of the widely used AI frameworks, including TensorFlow, Microsoft CNTK, Caffe, Theano, Amazon Machine Learning, Torch, Apache Mahout, Spark MLib, as well as deep learning platforms (like H20.AI), and deep learning libraries. Furthermore, one must be able to take advantage of cloud platforms (Google Cloud, AWS, and Azure) to get the best out of the technology.

AI development requires more than just software proficiency. Developers must also possess a thorough understanding of mathematics and algorithms, as well as the ability to think critically and solve complex issues.

Additionally, they must have a firm grasp of probability and statistics, as AI is rooted in the recognition of patterns and trends. Moreover, familiarity with data processing is essential, since AI needs data to learn, and data from multiple sources must be collected for successful implementation.

You might not have imagined that being a programmer in the world of AI requires proficiency in Time-frequency Analysis as well as more advanced Signal Processing algorithms such as Wavelets, Shearlets, Curvelets, and Bandlets. Working with Artificial Intelligence goes beyond basic software development.

Looking to hire AI engineers for your project? Don’t put it off any longer ->

AI developer salary 

AI development is a growing field, and salaries for such specialists are becoming more competitive. 

Salaries for AI developers depend on their experience, location, and skill set. According to ZipRecruiter, the average salary for an AI developer in the US is around $123,099 per year. 

Experienced AI developers with a specialty in programming languages such as R, Julia, and Haskell can expect to earn significantly higher salaries.

Outside of the US, AI developer salaries also vary by experience, location, and skill set. In the UK, the average salary for an AI developer is around £71,000 per year. In Canada, the average salary for an AI developer is around $75,000 per year. In contrast, the annual AI engineer salary in Germany is somewhere around €60,000.

However, in Central Eastern Europe or Latin America, salaries are considerably lower, making these regions the top spots for high-end developers’ outsourcing. For example Python developers are one of the most expensive in Brazil and they earn just $1,600 per month, according to Payscale. 

How Index.dev can help 

Index.dev, a tech recruitment platform for high-performing software developers, helps you find, hire and manage AI developers for full-time, long-term jobs. With over 200 AI-backed programmers, we have one of the largest networks of proficiently vetted tech talent

Our AI engineers are proficient in frameworks like PyTorch, TensorFlow, Caffe, or Theano and have expertise in AI technologies like Machine Learning, Neural Networks, Deep Learning, Computer vision, data mining, analytics, and visualization. 

Here is how Index.dev developers can elevate your strategic AI development:

  • Proficiency in probability and statistics. Our AI developers build robust AI models like Hidden Markov, Naive Bayes, and Gaussian Mixture.
  • Expertise in programming languages. Proficiency in programming languages like Python, C++, or R allows our engineers to build complex AI algorithms, speed up the coding process, and implement statistical models, plots, mappers, and reducers. 
  • Proficiency in distributed computing.  AI developers can effectively manage large datasets and deploy AI models across multiple systems. 
  • Advanced signal-processing techniques. Our AI developers have a strong foundation in bandlets, wavelets, curvelets, shearlets, and concepts like Convolution, Fourier Analysis, and time-frequency analysis.
  • Knowledge in data engineering. Our AI experts use tools like AWS S3, AWS Redshift, Power BI, and Tableau, to build ETL pipelines that process and retain data for analytics and predictions.
  • Expertise in AI models. Our AI engineers are proficient in machine learning algorithms, frameworks, libraries, and techniques required for building, testing, and deploying AI models. 

Learn more about where most of our developers are located and how our multi-stage vetting process ensures your business hires AI experts you can trust. 

Plus, check out how MATSUKO - a holographic app with know-how in AI, VR/AR leveraged Index.dev to hire a talented developer that helped accelerate their revolutionary product engineering.

Partner with Index.dev to onboard high-performing AI engineering rockstars to your project ->