Artificial intelligence is finding use in many categories to boost small business operational efficiency, introduce new products and services, and to build start-up companies. AI is a major driver of growth in markets all over the world, poised to spur development for years to come.
As you search for Canada AI business ideas to invest in, here are fifteen exciting prospects in the market today:
Idea #1: AI Software
AI software comprises a fairly large category of services but it’s one of the fastest growing commercial AI categories on the planet. AI software has a lower error rate than human counterparts, simplifying certain tasks with precision, speed, and accuracy.
Idea #2: AI Learning
AI learning is a fantastic AI business idea that you should consider. AI startups in the e-learning space are focusing on apps and courses that make use of artificial intelligence to instruct skills to students, language learners, and workers.
AI can assist with instruction in a way that would otherwise cost organizations money to hire a human being to do the work. They can also personalize a lesson plan, helping the user learn faster and better according to their unique abilities.
Idea #3: AI Chatting
AI chatting – such as voice assistants and chatbots – is becoming a must-have tool in customer service and online marketing. Filter requests from users, directing them to the appropriate resources. Answer questions. Make account changes. Direct them to a live agent. AI chatting offers many advantages that every small business should be looking into.
Idea #4: AI Data Security
AI has the potential to revolutionize how we monitor and maintain IT environments. Ongoing monitoring and optimization of network infrastructure keeps data private and secure. AI can identify anomalies that could be security risks and minimize the costs that come with a data breach.
Idea #5: AI in Marketing
Marketing is complex and always-changing. To get the most from one’s marketing, a lot of knowledge is required. AI can accumulate info, make calculations, and show where’s likely the best ROI for any given business. AI-driven systems have already begun enhancing the way marketing happens online. As more start-ups and business ideas join this front, there’s no telling where AI in marketing is headed next.
Idea #6: AI Cybersecurity
There’s also a need for AI to be used in cybersecurity. AI has identify with high accuracy vulnerabilities in software and hardware that could be exploited by hackers. AI can also be employed at a website level to protect servers and similar software from compromises.
Idea #7: AI Smart Home
Smart home devices haven’t made full use of AI yet but there’s a lot of potential here to personalize certain services to the user in addition to identifying ways to save energy, money, order supplies, and more.
Idea #8: AI in eCommerce
Shopping online, it’s not like you can have a store assistant with you. Until now, that is. AI in eCommerce can recommend complementary products, fit your body type or shape for merchandise, recognize faces, and help you through making your purchase. AI can subsequently also be used to follow-up at a later date with personalized emails that maximize a business’ chance to maximize sales/
Idea #9: AI Business Costs
AI software in business monitoring and accounting can identify efficiency and cost-saving opportunities. Imagine being provided an automated report that outlines what to do to address productivity issues, transportation problems, and/or in the production or storage of products. Monitoring facilities, AI can do this so long as they have the right software.
Idea #10: AI Data Accumulation
AI can source, read, and understand information faster than any human being can. This will eventually make it possible to process research quicker, develop new medications and treatments, and more.
Idea #11: AI in Tourism
In hospitality and tourism, AI can be used to help navigate regions of the world, offer entertainment recommendations, and even take the place of a concierge. Depending on the setting, AI in these kinds of environments connects a user with the services and information that make them feel secure and comfortable in a place that isn’t home.
Idea #12: AI in Financial Services
AI can help to identify fraud, make stock market investment moves automated to certain parameters set by the user, and can consult on transactions or financial management. AI comparing consumer behaviour and financial data that provide insights that may not be immediately noticeable by a human being.
Idea #13: AI Healthcare Monitoring
AI in healthcare can help diagnose conditions and identify symptoms of deterioration before they’re spottable by a doctor or the patient. Imagine being able to identify when a medical intervention is needed before hospitalization is required. This could further enhance certain healthcare services and save lives such as with early cancer detection.
Idea #14: AI Supply Chain Management
In supply and logistics, there is increasing use of AI. Considering the many variables that impact efficiency, AI can identify where money, time, and effort is being misspent. Find ways to lower costs without affecting the customer experience or demand of product.
Idea #15: AI in Hostile Environments
AI is being developed to enter hostile work environments that are either dangerous or fatal to human beings. In future years, AI is likely to be used in space, the ocean, and other tough-to-reach settings where even the most highly-trained humans are put at deadly risk.