Four Inspiring Artificial Intelligence Business Ideas

Artificial Intelligence, or AI, is having a major impact on businesses. It is changing how people run their businesses, the type of business ideas that people create, and the steps that businesses are going to take to adapt and thrive. Although AI has been used in many ways for decades, the technology continues to get smarter, easier to use, and into the hands of more people. This means that the ways in which people can engage with and benefit from AI will only grow, resulting in more opportunities but also complications.

Of course, the mass adoption and commercialization of AI has a clear knock-on effect. Which is? The sudden rise in people using AI to launch and run their new business ventures. As a result, droves of new AI-driven businesses are flooding different markets, from Health, Entertainment & Media, and Finance to Education, and Retail, where most businesses have a similar universal selling point: To streamline business operations by automating previously manual tasks.

But, with so many new and existing businesses embracing AI, how do you know if your AI-driven business is good enough to win people over and gain commercial success? That is just what you will learn in this article – and more. But first, let’s go over what AI is and how it works.

The First Look of Artificial Intelligence

Ever since British mathematician and logician Alan Turing published his seminal 1950 paper Computing Machinery and Intelligence, the definition of AI has continued to evolve and inspire heated debate. Turing’s 1950 paper introduced many AI concepts that were later reinvented and improved upon by others.

One such concept was the idea that computers could learn from experience and that they could solve new problems by following established guiding principles. These concepts led to the development of heuristics, a common problem-solving technique used in computer science and mathematics. Heuristics sacrifices accuracy and precision in favor of speed to come up with a timely solution that is good enough to solve a problem.

Turing also posed the question, “Can machines think?” and outlined this vision of a world where machines could be programmed to mimic human behavior and carry out complex tasks with minimal supervision. Fast forward to today, and much of Turing’s work has been influential in the development of AI to where it is now, to the point where anyone can use generative tools like ChatGPT to automatically generate written content such as cover letters, internal memos, press releases, and more.

How Does Artificial Intelligence Work?

The way that AI works is by using machine learning to process data and then using that data to make informed decisions in real time. As the system processes more data, it gradually learns different behavior patterns and errors, which enables it to adapt naturally to different situations by adjusting its functions and algorithms accordingly. As a result, the system becomes self-sustaining and self-sufficient, with the ability to learn from experience, solve problems on its own, and continue to deliver predictable outcomes – even when the working conditions change.

Machine learning is a pivotal component of AI and data science. As technological advancements in storage capacity and processing power have increased, it has become easier to train machine learning models to collect and process data. Such machine learning models can then use that data to reveal key insights, help people make more informed decisions, and streamline daily business operations. In addition to this, modern machine learning models are fully equipped to handle big data, which is data that is large in volume, velocity, and variety.

Top Four Artificial Intelligence Business Ideas

Below is a detailed summary of four AI startup ideas that cover a broad range of markets, such as Employment Relations, Healthcare, Cybersecurity, and Digital Marketing. Each AI business idea may help enhance existing business functions, add new business functions, or do both. Regardless, they are designed to help individuals and businesses achieve better outcomes, and in many creative ways, too.

Whether you want to create AI-based learning apps, start an AI marketing agency, run an AI entertainment startup, build an AI-based recruiting tool, or start an AI personal shopper business, wherever you turn, you will find a new AI startup idea. And with proper planning and strategizing, the next excellent AI business idea could be the one that you create.

To help spark your imagination, here are seven profitable AI business ideas to consider for your next pitch.

Employee Rostering and Scheduling

Optimizing employee rotation is essential to managing a healthy cash flow and meeting customer demand. Unfortunately, manual staff allocation is time- and resource-intensive and prone to mistakes, resulting in overstaffed or understaffed teams.

AI business employee rostering software is an effective way to save time on manual staffing, keep wages under control, and keep customers satisfied. They are designed to help businesses predict how much staff they need at what times and for how long. They also help businesses predict how much their employee rostering strategy will cost. And most importantly, these programs can automate the employee rostering process – factoring in availability, customer demand, training, meals and breaks, and more – to help businesses save time and money on having to do it on their own manually.

Best of all? AI-assisted employee rostering software is useful in many applications. They can be used to roster employees in retail stores during busy holiday seasons. Or they can be used to roster customer support employees who work in different shifts and time zones. With this level of flexibility, there is the potential for a new AI-driven solution to enter the market, one that caters to the specific needs of certain industries. Heck, you could even create a solution that uses artificial intelligence in recruiting.

Healthcare and Patient Monitoring

The lifeblood of the healthcare sector is vital to the well-being of the human population. But there are many factors that hold back medical facilities from providing the best possible care. These factors include high employee turnover, burnout, fatigue, insufficient funding, and outdated technology. Population aging is also contributing to already-strained healthcare systems.

Fortunately, advancements in AI technology and automation may help drive meaningful change by improving patient outcomes, medical diagnosis accuracy, access to essential medical services, and employee well-being and productivity.

There is strong evidence to suggest AI will aid in the early diagnosis of medical diseases, with scientists at the Chair of Optoelectronics successfully developing a bio-compatible implantable AI platform that classifies in real time healthy and pathological patterns in biological signals such as heartbeats. Clinicians are also using AI technology to reduce the time they spend on researching drug information, with TidalHealth Peninsula Regional using IBM® Merative (formerly Watson Health) to quickly obtain relevant drug information without resorting to manual search functions.

With case studies like this, it is clear that the future of AI-driven healthcare is just getting started, and while there are many hurdles to overcome, such as how to preserve the human touch of healthcare services, when used as a complementary service, AI-powered services could help patients and healthcare providers achieve better outcomes.

Cybersecurity

As cybersecurity threats have become more frequent and sophisticated, individuals, businesses, and organizations need more advanced measures to protect sensitive data and accounts from malicious actors.

One technology that promises to provide a more proactive approach to threat detection and elimination is AI. When set up properly and fed the right data by trained data scientists, AI-based cybersecurity measures can monitor devices for suspicious activity and draw insight from past data to identify trends and patterns that may indicate the potential for malicious intent.

These measures are faster and more accurate at detecting cybersecurity threats than traditional methods, as they do not have to wait for malware databases to be updated or a response from human cybersecurity teams to initiate a response. Instead, they can act and respond on their own accord, and data scientists can continue to fine-tune the machine learning models they use to train these AI-assisted cybersecurity systems until they achieve better results.

Digital Marketing

With more than 73 percent of marketing budgets being spent on digital marketing channels, it’s no surprise that new technology is playing a major role in how a successful business promotes its products and services to customers.

AI is just one of many technologies that are part of this push for innovation, with all kinds of AI-driven tools being released to help people perform different marketing-related tasks, such as creating personalized prompts for AI-powered chatbots and auto-schedule posts for multiple social media platforms. Also, you can use an AI writing tool to assist with content creation, headline writing, and creating SEO-friendly meta descriptions for search engines.

With so many AI-driven digital marketing tools out there, there is sure to be a field or niche that has yet to be explored.

Be Inspired by These Ideas for AI Startups

Hopefully, these AI business ideas will help inspire your next idea. Whether you want to create a new product, refine an existing product, or do something wildly unique, AI has the potential to revolutionize the way we do things across many industries.

The signs of change are already there, but there is still a long way to go, especially when it comes to applying AI in a way that does not replace or negatively impact the human element that is so vital in everything we do in our lives.

Why Choose Orient Software for Artificial Intelligence Services?

At Orient Software, we provide a variety of AI solutions. Whether you want to incorporate AI into your existing products, start from scratch (with a new product), or integrate AI into your business processes, our team can help. We will work with you to develop a tailored AI strategy and implementation plan – one that aligns with your unique needs and goals. This way, you can be confident that the custom AI solution that we propose to you is the right one for your business.

Also, our team has extensive experience with AI software development and technologies, such as machine learning, computer vision, and natural language processing. What does this mean for you? That you will receive a custom AI solution, one that integrates seamlessly with your new or existing products and business processes.

We also have experience providing custom AI solutions to many industries; Education and Learning, Customer Analytics, Medical and Clinical Data, and Human Resources Management, to name a few. So, no matter what industry you are in, we are flexible enough to adapt to your unique needs. We will provide a solution that is suitable for use in your industry. And we will strive to help you achieve the kind of outcomes that put you ahead of the competition.

To learn about Orient Software’s artificial intelligence services, contact us today.