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Low-code platforms likely to reach $53.07 million by next year

Generative AI has the potential to be a significant disruptive force in this market, expert says

The global market for low-code platforms is expected to reach around $53.07 billion by the end of next year. As enterprises in the Middle East are expressing a high level of intent to adopt low code platforms, a substantial part of this figure is likely to be driven by enterprises in the region.

Low-code and no-code platforms are key tools in modern application development which have been shown to effectively reduce app development time by 90 per cent.

This approach to software development requires little to no coding to build applications and processes. Instead of using complex programming languages, even business users can employ visual interfaces with basic logic and drag-and-drop capabilities in a low-code development platform. “In this way, users with no advanced knowledge of coding or software creation may use these intuitive techniques to build software for several purposes, such as creating mobile and business applications,” Dinesh Varadharajan, Chief Product Officer (CPO) at Kissflow, told Khaleej Times in an interview.

Excerpts from an interview:

How can AI and low code / no code co-exist?

Generative AI has the potential to be a significant disruptive force in this market. It makes the interface between humans and computers intuitive and frictionless. For these reasons, it is heralding the next evolution of low-code and no-code platforms. When combined with low-code, it holds the ability to seamlessly connect end users with systems, enabling the creation of applications without any prior knowledge of coding, including fundamental elements like forms and fields.

At Kissflow, we are currently executing on our strategy of deeply embedding generative AI into our platforms and thus democratise application development. We have already added Gen AI features such as AI suggested fields to assist users in quickly creating processes and applications.

How can generative artificial intelligence and low-code software accelerate innovation?

The convergence of generative AI and low-code enables systems to manage the work rather than humans having to work for the systems. This ‘power of two’ is going to bring a lot of possibilities for the enterprise. As AI and low-code technology come together, the development gap closes. Low-code software increases the accessibility of development across organizations (i.e. citizen development) while generative AI increases organizational efficiency and congruence.

Low-code and no-code application development platforms allow non-technical users or no-coders to reimagine and digitise their business processes without obtaining steep IT experience or spending exorbitantly on IT infrastructure.

Combining AI with low-code platforms can help organizations solve potential business problems faster and more efficiently. As the benefits of a visual drag-and-drop editor are combined with AI models, end users can choose between using visual elements or natural language processing for app development.

Low-code platforms can also offer chatbots to assist developers throughout the development process. Similarly, AI can produce multimedia assets or text for applications to accelerate the development process further.

AI can accelerate the entire low-code application development process, reduce errors with automation, decrease development time, and improve overall quality. Most importantly, it can further reduce the learning curve for low-code platforms.

What is the growth potential of AI and low code industry in the coming year?

According to a report by Microsoft, over 87 percent of IT professionals and CIOs believe that increased automation and AI capabilities, when embedded into low-code platforms, can help them make better use of these platforms.

Moreover, according to McKinsey analysts, “The direct impact of AI on the productivity of software engineering could range from 20 to 45 percent of current annual spending on the function.”

For these reasons, it is clear that the convergence of AI and low-code is a trend we will see more commonly in the years to come.

What are some trends we can expect in the coming year?

Governance is one of the most debated topics when it comes to low-code/ no-code, and with the integration of generative AI with these platforms, this is set to become even more of a focus for enterprises. At Kissflow, we have already rolled out a dedicated governance layer for our platform, and it is likely that our industry peers will follow suit.

In the coming year, we are sure to see more products come to market with native generative AI integrations. However, enterprise adoption of these solutions and feature sets will be with a degree of caution, and we are unlikely to see this being applied to systems associated with critical operations until there is a greater level of maturity.