AI and Cloud computing pairing is a massive advantage for businesses in the GPT era. While the Cloud computing software industry is expected to grow 2x in the next 5 years, AI computing will grow 5X during the same period. AI’s deep integration with applications in cloud computing technology is associated with revenue-generation opportunities. Tech-driven organizations use AI to scale their revenues in addition to fast-tracking their immediate strategic goals. According to Deloitte, AI not only enables the “mass personalization” of products and services but also intelligently automates a large number of repetitive tasks to free workers who can pursue creative goals.

In this article, we have described the top AI use cases in cloud computing. AI pioneers such as Microsoft, Google Cloud, AWS, IBM, SAP, and Salesforce are constantly developing new-age AI tools and applications that accelerate Cloud computing expertise across numerous fronts. Healthcare, manufacturing, customer service, education, banking and finance, and media intelligence are among the top industries benefitting from the unification of AI and cloud computing.

With the help of artificial intelligence, computers can process vast volumes of information and apply their acquired knowledge to make excellent judgments and discoveries far more quickly than people can.

What Is AI in Computing?

To do jobs normally performed by people, which need human intellect and discernment, a computer or a robot controlled by a computer must have artificial intelligence (AI).

Machine learning techniques require a great deal of mathematical computation, which is why AI cloud computing often makes use of accelerated hardware and software. It can acquire new abilities as it goes, allowing it to extract novel insights from large datasets.

AI computing is the greatest game-changing innovation of our time since we now reside in a data-centric era, and it can discover patterns that no human could. For example, American Express employs AI computing to identify fraud in billions of yearly credit card transactions. Cancer specialists rely on it to sift through reams of medical photos for signs of the disease.

Read the Latest blog from us: AI And Cloud- The Perfect Match

The Unification of AI and Cloud Computing

Automation of tasks including data analysis, data management, security, and decision-making are at the intersection of AI and cloud computing. These efficiencies and potential cost savings may be attributed in large part to AI’s capacity to apply machine learning and extract objective interpretations of data-driven insights.

Artificial intelligence (AI) software built on machine learning algorithms deployed in cloud settings provides users with personalized and contextualized information. This combination, of which Alexa and Siri are only two examples, paves the way for a wide range of actions, such as searching, listening to music, and making purchases.

Mass amounts of data are often utilized to train an ML model’s algorithm. This data might be organized, unstructured, or raw and needs strong CPUs and GPUs to handle. Such massive quantities of processing power can only be provided by the right mix of public, private, or hybrid cloud systems (depending on security and compliance needs). Serverless computing, batch processing, and container orchestration are just some of the ML services made possible by AI cloud computing.

Read: AI and Machine Learning Are Changing Business Forever

Top 20 Uses of Artificial Intelligence In Cloud Computing

1. Cost Optimization: AI can help optimize cloud spending by analyzing usage patterns and suggesting cost-effective configurations, instance types, and scaling strategies. This can lead to significant cost savings for organizations.
2. Resource Scaling: AI can automate the process of scaling cloud resources up or down based on real-time demand. This ensures that applications have the necessary resources available to maintain performance while minimizing idle resource costs.
3. Predictive Maintenance: In cloud infrastructure, predictive maintenance uses AI to monitor the health of cloud resources and predict when hardware components are likely to fail. This can help prevent service interruptions and reduce downtime.
4. Security and Threat Detection: AI can enhance cloud security by analyzing network traffic patterns and identifying potential security threats in real-time. It can detect anomalies, such as unauthorized access or unusual data patterns, and trigger alerts or automatic responses.
5. Natural Language Processing (NLP): Cloud-based NLP services powered by AI can be used to extract insights from unstructured text data, improve customer support, and automate content moderation in cloud-hosted applications.
6. Data Analytics: AI-powered cloud services can perform advanced data analytics, including data mining, predictive analytics, and machine learning, to extract valuable insights from large datasets hosted in the cloud.
7. Image and Video Analysis: Cloud-based AI can process and analyze images and videos stored in cloud storage, enabling applications like facial recognition, object detection, and content tagging.
8. Recommendation Systems: AI algorithms can be deployed in the cloud to build recommendation engines, offering personalized content recommendations to users in various applications, such as e-commerce, streaming platforms, and news websites.
9. Content Generation: AI can be used to generate content, such as text, images, or even music, which can be hosted in the cloud and served to users in real-time. This is particularly useful in chatbots, virtual assistants, and content-creation tools.
10. Optimizing Workflows: AI can help automate and optimize various cloud-based workflows, such as DevOps processes, data pipelines, and data migration tasks.
11. Auto-Scaling Containers: AI-driven container orchestration systems in the cloud can automatically scale containerized applications based on traffic and resource usage, improving efficiency and resource allocation.
12. Performance Optimization: AI algorithms can continuously monitor the performance of cloud applications and suggest optimizations, such as code improvements, database indexing, or caching strategies.
13. Personalization: Cloud-based AI can provide personalized user experiences in applications by analyzing user behavior and preferences, and delivering tailored content or recommendations.
14. Language Translation: AI-driven language translation services can be hosted in the cloud, enabling real-time language translation in various applications, including communication and content localization.
15. Virtual Assistants: Cloud-hosted AI virtual assistants, like chatbots, can provide customer support, answer queries, and perform tasks on behalf of users, improving user engagement and satisfaction.
16. Distributed Computing: AI can optimize the distribution of computing tasks in the cloud, ensuring that workloads are efficiently allocated across a distributed infrastructure.
17. Data Backup and Recovery: AI can improve data backup and recovery processes by identifying critical data, ensuring redundancy, and optimizing data restoration.
18. Resource Provisioning: AI-driven cloud management platforms can predict resource needs and proactively provision resources to meet demand, ensuring optimal application performance.
19. IoT and Edge Computing: AI in the cloud can analyze data from IoT devices and edge nodes, providing centralized processing, analytics, and insights for distributed IoT deployments.
20. Business Intelligence and Reporting: Cloud-based AI can generate advanced reports and visualizations, turning data into actionable insights for organizations.

To What Extent Does Artificial Intelligence Help Cloud Computing?

Artificial intelligence (AI) on the cloud may help businesses in several different ways. The following are some advantages for companies:

• Save Money
  Initially, the price of ML-based models was too exorbitant for most small and medium-sized organizations. Furthermore, the models were executed across numerous GPUs in production data centers. Public and private cloud virtualization advancements have greatly reduced the cost to design, test, and deploy models, allowing more small and medium-sized organizations to benefit from AI and cloud computing.
• Productivity
  The IT department is freed from mundane, repetitive chores when a hybrid or public cloud is used for data storage and processing. Previously, administrators spent a lot more time and energy tending to models that relied on AI-based algorithms.
• Automation
  The incorporation of AI into the cloud’s underlying infrastructure facilitates the automation and simplification of routine processes.
• Management of Information
  Artificial intelligence (AI) enhances data management, and when coupled with cloud computing, it increases data security. Because of this, it is feasible to automatically and effectively manage massive amounts of data. Artificial intelligence is also useful for migrating data from local systems to the cloud.

Read the Latest blog from us: Risks Of IT Integration

Is There a Downside to Using AI on the Cloud?

The use of artificial intelligence in the cloud raises several ethical questions. These worries are addressed in this section.
Security of Stored/Shared Data A data privacy policy needs to be developed when employing AI in cloud computing. Information about customers and suppliers that can be associated with a real person is much more useful than the same information in an anonymous form. It is crucial to have data protection and compliance procedures in place, especially when dealing with personal information.

IT departments require access to the internet to upload data to the cloud. Poor internet connectivity can cause issues and is a drawback of cloud-based machine learning algorithms. Although data processing in the cloud is faster than traditional computing, users of cloud services still need to be concerned about the security of their data in the event of a breakdown in data transmission to the cloud.

The Future of AI Cloud Computing

As cloud computing becomes standard practice across the entire IT sector, the overall industry will experience a slowdown in revenue growth. Consequently, investors anticipate that the AI boom will resuscitate cloud computing as large technology businesses increasingly attempt to exploit AI on the cloud.

Among the many interesting projects involving generative AI on the cloud is Amazon’s new Bedrock service. This service would allow programmers to include AI-generated text into their programs quickly and easily.

The post Top 20 Uses of Artificial Intelligence In Cloud Computing For 2024 appeared first on AiThority.

Leading banking software company Temenos is expanding digital wallets and neo-banking solutions in the Middle East. The banking software company announced a collaboration with the Saudi Arabian digital wallet, STCPay.

STCPay will leverage the fintech software company’s globally-renowned Cloud-native, Cloud-agnostic Temenos Payments, and Temenos Transact solutions. These will run on a private cloud to achieve exponential growth and expand digital payments capabilities in the region. IBM Red Hat is also part of the latest fintech collaboration between STCPay and Temenos.

STCPay is the Middle East’s leading Digital Wallet. It will continue expanding its leadership in innovation in digital payments and grow its customer base to 6 million by 2021. 

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Currently, the Middle East is a huge draw for global digital wallets and international e-payments companies. The digital wallets, in particular, present an enormous opportunity to local merchants who were severely affected by e-commerce deluge and COVID-19 lockdowns. The Middle East has very strong access to high-speed internet facilities, high-quality smartphones and internet-connected devices, connecting tech-savvy consumers to brands 24/7/365. In fact, compared to its Asian and Western European counterparts, online merchants find using digital wallets more economical and user-friendly — a factor directly influenced by the growing maturity of consumers who prefer to use card payments and internet banking services over POS and cash transactions.

AI and Cloud Computing Provide Ability to Accelerate Digital Payments Trends in EMEA

Jean-Paul Mergeai, Managing Director, Middle-East & Africa Temenos, said: “It is a true privilege to embark on this exciting partnership with STCPay. We are seeing a significant increase in demand for digital payments across the Middle East and Africa region – the COVID-19 pandemic is only accelerating this trend. Our cloud-native, AI-driven software supports the exceptional digital experiences that customers want, but it also provides the business resilience and security that banks need now more than ever. As the only technology provider offering cloud-native banking software in this market, we are excited to deliver Temenos Transact and Temenos Payments and witness another use case for powerful and transformative cloud technology.”

Kelly Switt, Global Director, FSI strategy, Ecosystem and Strategic Partnerships, Red Hat, said: “Red Hat is thrilled to be a part of this collaboration with Temenos and STCPay. We believe that the next evolution of financial services will be based on open source development principles and technologies. We are grateful for the opportunity to enable both Temenos and STCPay on this evolutionary journey and look forward to being an enabler of continuous innovation.”

Retail Transactions to Dip Further

Temenos Payments provides Straight-Through Processing (STP) rates over 99% and will underpin STCPay’s digital customer experiences. Temenos Payments will be integrated with Temenos Transact, the next-generation core banking product, and deployed on private cloud to provide unparalleled resilience and scalability to support skyrocketing volumes of digital payments. This will provide STCPay with timely benefits in light of regional trends towards cashless banking as a result of COVID-19.

According to the recent Economist Intelligence Unit report released by Temenos, 60% of banking executives in MEA think cash will dip below 5% of retail transactions in the next five years.

What is STCPay?

STCPay, a subsidiary of STC Group, is Saudi Arabia’s largest and leading mobile wallet app. Launched in late 2018 by STC, the digital challenger aims to provide new, innovative technologies and digital payment experiences to customers and facilitate transactions that are quick, easy, and secure.

How Temenos Helps Digital Wallets?

Real-time, API-first Temenos Transact and Temenos Payments will provide a single, digital platform on which STCPay can rapidly create and update innovative digital services for retail customers. Using Temenos’ cloud and microservices-based technology to power innovation and transform customer journeys, STCPay aims to double its customer base by 2021. Longer-term, the business aims to establish itself as the leading digital challenger in the Middle East and Africa (MEA).

The new platform will drive significant cost efficiency gains and enable sustainable business growth. According to the Temenos Value Benchmark, a strategic, survey-based program providing an in-depth analysis of how software capabilities impact a bank’s profitability, banks with STP rates over 90% can achieve up to 8x higher revenues per customer, compared with banks with lower STP rates.

Temenos Saudi model bank will deliver pre-configured, country-specific capabilities and regulatory compliance to support STCPay to roll out its new platform in the shortest possible timeframe and at minimum cost. With model bank capabilities for more than 150 countries, Temenos’ software will support the seamless onboarding of new geographies across the Gulf Cooperation Council (GCC) and scale as STCPay’s business grows.

Temenos is collaborating closely with Red Hat to create a standardized cloud operating model for STCPay based on a collection of enterprise-grade, open-source technologies, including Red Hat OpenShift, Red Hat Quay, Red Hat AMQ Streams, and Red Hat Storage. The collaboration will provide STCPay with the combined strengths of market-leading cloud-native and open source technologies.

Executive Insights

Advanced Banking Software and Delivering Next-Generation Digital Experiences in Saudi Arabia On Its Way

Ahmed Alenazi, Chief Executive Officer, STCPay, commented: “We are excited to partner with Temenos and unlock the vast opportunities of digital payments in the Middle East. Temenos brings to this partnership 20 years’ experience deploying advanced banking software and delivering next-generation digital experiences in Saudi Arabia. With Temenos’ market-leading technology and rich banking functionality, we aim to redefine payments, offering outstanding digital experiences that integrate into our customers’ lifestyles.”

Agile Technology Drives Experiences for Digital Wallet Users and Merchants

Abdulrahman Tawfiq Almutairi, CIO, STCPay, added: “Temenos’ cutting-edge cloud and microservices-based architecture perfectly aligns to STCPay’s growth and innovation strategies. Temenos’ unique architecture will power DevOps and support continuous innovation by facilitating faster deployments that reduce time to market for new products and services. This agile technology will enable us to remain at the forefront of digital payments innovation by helping us to quickly respond to the evolving market landscape and needs of our customers.”

Temenos Payments product was named Leader in the 2019-2020 IDC MarketScape for worldwide integrated payment platforms and also ranked #1 best-selling payments system in the IBS Sales League Table 2020.

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