Artificial Intelligence is stirring the next revolution in SaaS. According to the Future of SaaS survey, 53% of SaaS leaders plan to use AI as a major part of their business in 2023. Let’s explore some of the best AI tools to help you stay ahead of the curve.
Why use AI software?
Imagine being a pilot, and flying a plane without a copilot. You may be able to do it successfully, but it’s much easier with a trusted sidekick. Just like a copilot will assist you while navigating, AI tools are a great ally if you work in SaaS.
There are many reasons why AI has become so popular in the software industry.
Cost savings and automation. You can automate repetitive tasks and reduce operational costs drastically. What used to take hours of manual work, you can now finish within minutes.
More efficiency. Free up time from valuable resources, so they can focus on strategic initiatives. You’ll grow quicker with the same amount of resources.
Better customer experience. AI-powered tools can tailor recommendations, offer personalized experiences and provide proactive support. Your customers will thank you!
Scalability. Growing your product from 1,000 to 10,000 users is much more scalable with the help of AI. AI can easily handle more data volumes.
Competitive advantage. With more knowledge of customer behavior and market trends at your fingertips, your business can gain a competitive edge. Product builders who inject AI capabilities into your SaaS product will improve their user experience. It will set them ahead of competitors.
With lower costs and higher returns, SaaS businesses can operate more efficiently. They will grow faster, and deliver more value to customers. SaaS employees feel happier and more productive because they get more impactful work done in less time.
The risks of using AI tools
Besides the many benefits, it’s good to also consider the risks when using AI tools.
Privacy and ethics. AI systems often process large amounts of personal data. If that data is not properly collected, stored and used, it might be vulnerable to breaches. Aside from privacy concerns, an AI model may be biased and suggest decisions of questionable ethics. Make sure to always comply with the regulations in place.
Misinformation. Whether intentionally or by accident, AI can lead to misinformation at a mass scale. There is a lot of incorrect, misleading or fake information out there that language models may not capture as false information. Or think of deepfake technology that can deceive people, or manipulate public opinion.
Algorithmic bias. AI algorithms learn from historical data. And if that data contains bias, we risk amplifying biased information or social inequalities at large. Whenever you’re using or building AI, make sure you rigorously test, evaluate and monitor the output to avoid bias.
Top AI tools for SaaS businesses
New AI-powered tools are spreading like wildfire. Just Google “AI software tools” and you could easily spend an entire afternoon browsing the latest innovations.
Below, we’ve assembled a list of popular and lesser-known AI tools that can bring value to SaaS businesses.
AI visualization tools
Data scientists and analysts have started using ChatGPT for data visualization use cases. But looking beyond ChatGPT, there are various AI tools that focus specifically on data visualization.
Chartify: Generate charts on top of any data source
Storydoc: Create interactive business presentations and reports with the help of AI
For SaaS builders, it’s crucial to thoroughly test your code before deploying. But it can be a time-consuming process. AI test automation tools are making this process faster and easier.
A product manager would rather be found dead than be called a project manager. Nevertheless, they often have to spend a lot of time on tedious project management tasks. New AI project management tools help them automate the boring stuff. And that means more time to focus on innovation in product management.
ClickUp: Includes AI features to summarizes meeting notes, update projects, and create action points from docs
Ship SaaS products faster with AI-powered technology
With the help of AI tools, SaaS teams can save time on manual work and focus on more complex stuff. And although efficiency is already a big win, the innovation opportunities are even bigger.
AI is taking product innovation in a new direction. SaaS builders who introduce AI models into their technology stack today will lead the pack tomorrow. AI can either help you solve your customer’s problem faster, or solve it in a better way. And whichever of the two, it will guarantee a better experience.
Start a free Cumul.io trial
Add dashboards to your SaaS platform in days instead of months. Try 10 days for free.
