Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Technology
    3. >Democratisation of AI-powered software: Expanding access to technology
    Technology

    Democratisation of AI-powered Software: Expanding Access to Technology

    Published by Jessica Weisman-Pitts

    Posted on October 13, 2022

    4 min read

    Last updated: February 3, 2026

    Add as preferred source on Google
    This image features a 3D rendering of artificial intelligence concepts on a digital globe, symbolizing the democratization of AI-powered software. It reflects the article's theme of expanding access to technology in software development.
    3D rendering of AI concepts on a digital globe, representing technology access - Global Banking & Finance Review
    Tags:innovationtechnologyProject ManagementArtificial Intelligencefinancial services

    By Sachin Dev Duggal, CEO & Co-Founder of Builder.ai

    Since the first computer was created in the mid-20th century and Apple’s first iPhone debuted in 2007, technology and the software development that comes along with it has revolutionized our world and daily life. The challenges of the global pandemic have accelerated the need for technology solutions at a pace most of us have never seen before.

    If there’s one thing the pandemic taught businesses, it’s that they need to ensure they have the systems and software in place to be agile and ready to survive and thrive in what’s to come – no matter what that is. But the current software development process is broken. Almost eight in 10 software development projects fail1.

    Software is being developed across a vast range of sectors that includes artificial intelligence (AI). A common misconception is that companies using AI are investing heavily on leading data specialists and developers. The reality is far different. This is where democratization comes in.

    It’s the idea that everyone can and should have access to software and AI powered systems. Low-code/no-code platforms enable businesses with limited or even no technical knowledge to create custom software more efficiently and accuracy, all at a more affordable price. Now, the future of technology is in intelligence.

    AI has already become a main driver of emerging technologies, from big data to robotics and IoT. AI is now transforming the software development space itself and making it easier for businesses of all sizes.

    Help with Strategy and Decision Making

    From the development stage, which features are included in an initial app or update release can seriously affect purchasing decisions, and in turn, business results. AI can work to streamline strategy powered by the collective insight of all interactions; for example when it comes to selecting features and running simulations to get a clearer idea of customer perspective based on feedback culled from online conversations.

    AI & predictive tech can help with make-or-break aspects of development, like budget and deadlines, too. It can more accurately project costs and production timelines by analysing full data sets more finely, taking project results from the past and combining them with potential feature sets and even feedback from developers.

    Streamline Maintenance and Coding

    Any software developers knows that countless maintenance hours and dollars are spent on managing redundant features on the backend. AI can reference data across multiple sources to identify these redundancies, which streamlines ongoing maintenance while saving work hours and limiting spending.

    AI can predict the code that a developer is going to write, which can cut down keystrokes by as much as 70%. Reusing code through AI can save businesses a significant amount of time and money. AI is taking testing to the next level in terms of both accuracy and speed, catching most errors before software goes to the test phase. By running more variable tests, issues that could occur when programs are fully operational are more likely to be caught.

    Project Management

    Many software projects are scrapped before they ever see the light of day because user demands are not being met. Development platforms are under pressure due to high demand and a shortage of competent developers. The process of gathering, tracking and validating what users need is labor intensive. With AI, developers don’t need to sift through code. AI can help showcase user behaviors and needs, making it easier for developers to fulfill those needs.

    When the pandemic hit in 2020, many smaller businesses without a robust digital strategy found out the hard way how vulnerable they were in a disruptive environment. Today, even two years later, stretched-thin SMBs are struggling to adapt. Fortunately, they’ve been presented with an opportunity to rethink how they do business. Having a thoughtful digital presence is critical, Low-code/no-code machine learning platforms, powered by AI, enable non-experts to create applications with predefined components and programming — making it easier than ever for them to access and harness the power of AI and all its related solutions.

    1 https://www.geneca.com/why-up-to-75-of-software-projects-will-fail/

    Frequently Asked Questions about Democratisation of AI-powered software: Expanding access to technology

    1What is artificial intelligence?

    Artificial intelligence (AI) refers to the simulation of human intelligence in machines programmed to think and learn. AI can perform tasks such as problem-solving, understanding language, and recognizing patterns.

    2What is software development?

    Software development is the process of designing, coding, testing, and maintaining software applications. It involves various stages, including planning, implementation, and deployment.

    3What are low-code/no-code platforms?

    Low-code/no-code platforms are development environments that allow users to create applications with minimal coding. They enable individuals with limited technical skills to build software solutions quickly.

    4What is project management?

    Project management involves planning, executing, and overseeing projects to achieve specific goals within a defined timeline and budget. It includes coordinating resources and managing risks.

    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Technology

    Explore more articles in the Technology category

    Image for Innovation Through Partnership: The Role of External Tech Teams
    Innovation Through Partnership: The Role of External Tech Teams
    Image for Nominations Open for Technology Awards 2026
    Nominations Open for Technology Awards 2026
    Image for Nominations Open for Innovation Awards 2026
    Nominations Open for Innovation Awards 2026
    Image for Archie earns industry recognition across G2, Capterra, and SoftwareReviews
    Archie Earns Industry Recognition Across G2, Capterra, and SoftwareReviews
    Image for The Bankaool Transformation: How a Regional Mexican Bank Became a Fintech Disruptor
    The Bankaool Transformation: How a Regional Mexican Bank Became a FinTech Disruptor
    Image for Submit Your Entry Today for Digital Banking Awards 2026
    Submit Your Entry Today for Digital Banking Awards 2026
    Image for Behavioral AI in Financial Services: Moving Beyond Automation Toward Human Understanding
    Behavioral AI in Financial Services: Moving Beyond Automation Toward Human Understanding
    Image for Submit Your Entry for Brand of the Year Awards Technology Bahrain 2026
    Submit Your Entry for Brand of the Year Awards Technology Bahrain 2026
    Image for Entries Now Open for Best Islamic Open Banking Burkina Faso APIs 2026
    Entries Now Open for Best Islamic Open Banking Burkina Faso APIs 2026
    Image for Entrepreneurial Discipline in the AI Economy: Insights from Dmytro Lavryniuk
    Entrepreneurial Discipline in the AI Economy: Insights From Dmytro Lavryniuk
    Image for Entries Now Open for Best New Digital Wallet Innovation Award 2026
    Entries Now Open for Best New Digital Wallet Innovation Award 2026
    Image for Call for Entries: Best Digital Wallet 2026
    Call for Entries: Best Digital Wallet 2026
    View All Technology Posts
    Previous Technology Post5 Decisions to Make Now for a Successful Cyberattack Incident Response
    Next Technology PostSecurity for Privileged Access