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Python for Business: Top Uses and Applications in 2024

Python is an excellent high-level programming language used for automating repetitive tasks and workflows. It can help businesses reduce costs, save time, and run more efficiently by enabling them to make data-driven decisions. Companies can navigate complex organizational challenges and become resourceful by creating highly scalable applications. Python enables developers to create and deploy apps with just a few lines of code.

Being a server-side scripting and interpreted programming language, developers can get results instantly from their code, enjoy third-party integrations, and enhance productivity.

Let’s explore the top uses of Python in business and dive deep into its various applications across different industry domains.

Why Python?

The language has been around since 1991 and one of the top reasons for Python popularity is its simplified syntax, flexibility, and seamless integrations with other python frameworks. According to the TIOBE Index, Python is ranked as the world’s most popular programming language as of April 2024, with C coming second.

You can create e-commerce stores, machine learning models, web applications, search bars, and do a lot more to enhance the user experience. Dropbox is another example of a company that uses Python to build and deploy mobile and desktop web applications. Many companies like AirBnb, Morgan Chase, Facebook, Netflix, IBM, and NASA are using Python in business applications to gain a competitive edge.

With Python, you can quickly analyze vast amounts of data, generate insights, and craft personalized recommendations for end users. For example, Spotify uses Python to recommend songs to users and improves user engagement and loyalty rates. Python’s versatility makes it a great choice for building cutting-edge business products.

How is Python used in business?

The use of Python in business applications is observed in areas such as calculations, automation, embedded systems, IoT, and testing. Python for web development is used by businesses to design backend operations, transmit data in servers, ensure data security, and route URLs. The most notable framework used for Python web development projects is Django.

In game development, Python is used to speed up prototyping and testing by leveraging its dynamic typing capabilities. Its built-in game dev library PyGame is used to develop games with 3D graphics and stunning realistic animations. Startups are using Python’s innovative machine learning frameworks and artificial intelligence libraries to develop emerging technologies. These organizations are using Python to build and deploy chatbots, APIs, improve customer service, and for web scraping applications.

Python usage in business: Top applications in 2024

In today’s world, the use of Python in business is gaining prominence, especially in the realms of data science, marketing, and other sectors. Big companies like Walmart and Google are using Python to scale up and expand their services. Python technology solutions have fewer bugs and are easier to maintain than other frameworks. Enhanced code readability, cross-platform compatibility, versatility, and reliability are some of the reasons companies choose to use Python for designing various applications.

1.   Python in data science business applications

Uber Ride is a good example of Python being used in the data science domain. Python uses its rich set of machine learning libraries and frameworks to streamline interactions between drivers and the app. Python for NLP (Natural Language Processing) applications is used by data scientists for image processing, computer vision, data visualizations, etc. It has many built-in functions that make it convenient to read and write JSON to files.  The three most popular deep learning libraries are PyTorch, NumPy, and TensorFlow. Python in machine learning business applications is used to run machine learning models on embedded systems and mobile devices. TensorFlowHub can be leveraged to explore the previous training of models and data scientists can do better data preparation to refine model inputs.

Python application for machine learning can encompass various aspects such as facial recognition, biometrics, handwriting analysis, sentiment analysis, automated  video surveillance, virtual assistants, and traffic congestion analysis.

2.   Python in artificial intelligence business applications

SciPy and PyBrain can be used for performing advanced mathematical computations in AI models. One of the key roles of Python in artificial intelligence business applications is to enable developers to provide more personalized user experiences. Top tech companies like Facebook, Pinterest, and Instagram are already using it for automation purposes and data analysis. It can be used for market research and make predictions by analyzing historical data trends. Developers can increase the complexity of Python-based neural networks by adding more layers and making AI apps sophisticated to cater to rising industry demands.

3.   Python in healthcare business applications

Hospitals are using Python in healthcare business applications to deliver cutting-edge patient care, diagnostics, and enhance the outcomes of clinical trials. Python-based NLP creates clinical decision support (CDS) systems and improves phenotyping capabilities. Predictive analytics and intelligent drug discovery applications are transforming the healthcare industry.

Python in machine learning business applications offers a 92% accuracy rate when it comes to image analysis. The healthcare industry is combining ML and AI libraries to help doctors identify new diseases and scan images that are hard to detect by the human eye. Python-based healthcare apps can be seamlessly integrated into existing systems and allow for safe data interchanges. Its well-known data protection features are being used to improve compliance, report analysis, and automate patient management. One of the most common use cases of Python in healthcare business applications is the computer-automated detection (CAD) of tumors and cardiovascular abnormalities. Data scientists can select a medical Python library to detect hard-to-see fractures, dislocations, thoracic conditions, and perform cancer screening.

4.   Python in e-commerce business applications

Python is used to build ERP systems for e-commerce apps and streamlines inventory management. Python provides excellent shipping integrations to e-commerce websites and simplifies user interface development.

Geolocation integration is another useful feature of Python programming. Developers can create platforms and market products that are tailored to specific geographical destinations. Advanced database management is another common use case of Python in e-commerce business applications.

5.   Python in Fintech business applications

Python in Fintech is widely used to accelerate time-to-market, enhance business efficiency, and provide end-to-end support for the development of financial models and prototypes. Banking and payment services rely on Python’s stability and ease of scalability. With new players entering the cryptocurrency space, companies are using Python to promote decentralized offers to clients and streamlining financial transactions. Anyone can use Python for stock market trading, advanced data visualization, and the framework features superior statistics and ML capabilities.

6.   Python in cybersecurity business applications

Python in cybersecurity business applications is used for threat hunting, malware analysis, social engineering prevention, and vulnerability management. Python’s built-in memory management simplifies caching, network segmentation, and accelerates scripting for security professionals. From crafting payloads, decoding packets, accessing servers, and conducting port scans, Python proves to be particularly valuable in the area of penetration testing as well.

The average cost of a data breach is USD 4.45 million; Python provides powerful resources for developers to eliminate cross-site scripting attacks, SQL injections, phishing, and remote code execution. Libraries like Scrapy and Urllib greatly boost web application security while pyJWT and cryptography securely authenticate and verify users who use these apps.

The future of Python in business applications

Python’s innate adaptability and lightweight architecture makes it a lucrative choice for designing business applications. It is currently gaining widespread adoption in quantum computing. Python’s role in web development will expand and it will continue to drive innovation in segments such as edge computing, IoT, embedded systems, and the cloud.

As more organizations continue to build business applications with Python, there will be new job openings for developers. Companies will seek to hire Python developers India full-time or remotely to increase their Python usage. The demand for Python developers will go up and in the coming years, the annual pay scale will increase too. Python is poised to become the cornerstone framework in the programming world and its future looks very bright.

Conclusion

The best part about using Python for business is that it’s completely open-source and free. Python’s development community is active and offers plenty of resources, tutorials, and tips to get started. Choosing the right Python software development company can help organizations drive revenue growth, build the best web and mobile business apps, and ensure on-time deliverables for services.

The demand for Python development services is going up and companies will be increasing their investments in Python web development and business services.

IEMA IEMLabs
IEMA IEMLabshttps://iemlabs.com
IEMLabs is an ISO 27001:2013 and ISO 9001:2015 certified company, we are also a proud member of EC Council, NASSCOM, Data Security Council of India (DSCI), Indian Chamber of Commerce (ICC), U.S. Chamber of Commerce, and Confederation of Indian Industry (CII). The company was established in 2016 with a vision in mind to provide Cyber Security to the digital world and make them Hack Proof. The question is why are we suddenly talking about Cyber Security and all this stuff? With the development of technology, more and more companies are shifting their business to Digital World which is resulting in the increase in Cyber Crimes.
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