Modern businesses are integrating artificial intelligence (AI) with Big Data to create new capabilities within processes and systems across all industries. Data has become the most important asset for making well-informed decisions and enhancing how businesses operate. 

In this context, the concept of ‘HI+AI’, which is essentially the combination of human and artificial intelligence – is gaining ground, highlighting the benefits of combining human insight with AI to improve work efficiency and decision-making. This concept is the focus of major conferences such as Big Data & AI World London 2024 and regional events such as Humans Powered by AI in Chișinău, reflecting its growing importance in business innovation. 

AI and big data are changing the way software is made by helping companies better understand what their clients need. By using AI to analyze big sets of data, IT companies can learn more about client preferences and requirements. This leads to creating software that fits clients’ needs more closely, improving how clients and technical teams work together and communicate. 

What AI does for software development 

From a software development standpoint, using artificial intelligence (AI) opens up many possibilities for updating applications and improving efficiency across all stages of development. Here’s how AI (through an advanced approach known as Gen AI), is transforming app modernisation: 

• Design: AI helps create mock-ups, wireframes, and user experiences. By automating these tasks, AI accelerates the development of intuitive user interfaces. 
• Development: AI supports the design of modular architectures and optimizes the creation of foundational code structures (code scaffolding). It also automates the debugging process, enhancing the functionality of the software and shortening the time it takes to release new versions. 
• Analysis: AI plays a crucial role in system and business analysis by analyzing data to gather deep insights. This helps in refining the software requirements, ensuring the solutions are more aligned with user needs and are robustly built. 

Why AI & Data is good for your business

By using large amounts of data, businesses can gain important insights that help them make better decisions. Data helps them understand what customers like and predict future market trends, acting like a guide for their strategies. Additionally, data allows companies to fine-tune how they operate. By analyzing key performance indicators, companies can identify inefficiencies, improve processes, and optimize resource allocation. 

Real world applications of Gen AI 

As AI technology evolves, it continues to enhance business performance through advanced data analytics. By processing and analyzing large volumes of unstructured data swiftly and accurately, AI supports data-driven decisions that give businesses a competitive edge. This capability is transforming research and development, enabling companies to innovate and explore new opportunities with reduced risk and increased agility. In practice, generative AI finds applications across various sectors — here are 5 real-world use cases of utilizing generative AI:  

1. AI in FinTech: AI is used in financial technology to detect and prevent fraud. It analyzes huge amounts of transaction data in real time to spot unusual patterns that might indicate fraud. This helps financial institutions protect their customers’ assets and build trust in their services. 
2. AI in Business: AI-powered chatbots in businesses are changing how customer service works. These chatbots use natural language processing (NLP) and machine learning to talk to customers, answer their questions, solve problems, and even handle transactions on their own. This leads to happier customers because they get quick and personalized help, and it also cuts down on costs for businesses. 
3. AI in Healthcare: In healthcare, AI is transforming how medical images are analyzed. AI systems trained on large collections of medical images can accurately identify and classify problems in images like X-rays and MRIs. This helps doctors detect diseases early and improve treatment for patients, and potentially saving their lives.  
4. AI in Software Development: AI is making software development faster by generating code automatically. It learns from existing code and can create new code snippets, modules, or even whole applications. This saves developers time, letting them concentrate on more complex aspects of software creation like designing the architecture and adding new features. 
5. AI in Public Governance: AI is improving government operations by making them more efficient and focused on citizens. AI helps in policymaking by analyzing large data sets to provide insights for decisions. AI-powered chatbots and virtual assistants also make it easier for citizens to get quick answers to their questions and handle routine tasks, enhancing the overall quality of government services. 

Final words 

In conclusion, while AI presents vast opportunities for business and IT innovation, it is crucial to embrace the ‘HI+AI’ model with careful consideration of potential risks such as ethical concerns, biases, and privacy issues. Balancing AI’s capabilities with human oversight ensures that organizations can fully exploit AI’s potential while minimizing negative impacts, paving the way for sustainable success in the digital era. 

And bear in mind – “AI Won’t Replace Humans — But Humans With AI Will Replace Humans Without AI”.