Many people believe that artificial Intelligence (AI) is costly, despite being beneficial. This is because AI technologies are expensive. No-code AI can help to solve this problem for small- and medium-sized companies (SMBs). What is it exactly?
What is No-Code AI?
No code AI is a platform that does not require any coding to create an AI system. It is also known by the “codeless AI” acronym.
Non-expert coders can create an AI system using No-Code AI, which is typically used for business purposes. This self-developed AI system allows users to classify and analyze data in order to create accurate models and predictions.
No-code AI is primarily about democratizing AI and bringing it to the masses.
Why is No-Code AI important for businesses?
Some organizations may not have the resources to benefit from AI, especially when it comes to automating data collection and analysis that can be used for business decision-making.
AI is often used to hire data scientists to create models for the AI system. This will tell the AI system what information it needs to collect and how it should analyze it to produce the desired results. Users need this information to make the right business decisions.
US$141,742 annually is the cost of employing one data scientist in the U.S. The average annual salary for SMBs in the U.S. is US$71,813 The majority of SMBs cannot afford to hire a data scientist and the financial resources necessary to develop an AI system.
It’s not surprising that only 0.1% of the world’s population are software developers and coders.
What are the Benefits of No-Code AI?
No-code AI offers several benefits, including:
- Combines business experience with AI: Data scientists may not have the expertise to help you in your industry. While you may know everything about your business, it is possible that you don’t have the programming skills necessary to create an AI system. This gap can be bridged by no-code AI. Your business knowledge can be used to create your own AI solution.
- Doesn’t require tech-savviness: No code AI platforms often have a drag-and-drop user interface (UI), which doesn’t require programming or programming skills. It’s similar to using a WordPress template that is already available for creating a website for your business.
- Won’t break the bank: We already mentioned that many SMBs may not be able to hire data scientists, let alone their own AI system. A monthly cost of US$60-1500 to create a no-code AI solution is all it takes. Some providers offer pay-per-use models.
- Frees up data scientists’ time: Organizations with data scientists can allow them to focus on more complex tasks. No-code AI solutions allow users to solve their own problems rather than asking experts for simple fixes.
- Allows businesses to scale: If your first AI solution works, you can create more to automate the process. This accelerates the growth process and helps you improve your bottom line.
What No Code AI Tools Can You Use it?
If you are interested in reaping the many benefits of AI usage, there are many no-code platforms that offer affordable plans and free trials. These include Apteo and Runway, Google AutoML, and Amazon SageMaker.
Does No-Code AI Have Limitations?
Despite the ease of use that no code AI platforms offer, They also have flaws, such as:
- Personalization: Many no-code AI solutions do not offer the ability for fine-tuning and tweaking the code parameters. You can customize your data with precision.
- Data bias: You may get too close to the data and not be able to see it objectively. A model may tell you exactly what you want.
- Shadow IT: Without involving the IT department, you could create a shadow IT issue. If you don’t properly secure the AI system, your company could be at risk.