Artificial Intelligence Poised to Drive API Growth, according to Nearly 40% of Respondents in Recent Survey

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SmartBear, a leading provider of software development and visibility tools, released the results of its 2023 State of Software Quality API survey, which garnered responses from over 1,100 API practitioners in more than 17 industries. Although microservices continue to be the main driver of API growth, 38% of respondents say artificial intelligence (AI) is emerging as an increasingly influential driver in future growth of APIs. First published in 2016, SmartBear has regularly surveyed the API community to identify industry benchmarks, including trends, best practices, methodologies, and tools used by developer teams to manage the API lifecycle.

“As the API industry continues to rapidly evolve, we are excited to share the most up-to-date API development and management trends, and the factors contributing to its growth now and in the years ahead,” said Sean Butler, Vice President of API Product Management at SmartBear . “There are several interesting findings this year, including APIs supporting event-driven API architectures has increased, we are seeing a positive trend in API documentation, and API standardization and security continue to be the top challenges for development teams worldwide.”

Also Read: Securing the Future of Fintech: Strategies to Prevent Common Security Mistakes

Key insights of the 2023 State of Software Quality | API survey include:

  • APIs supporting event-driven API architectures have increased (62%) while web APIs remain the top experience that APIs are supporting (88%) with mobile close behind.
  • 62% of respondents attribute microservices as the top driver for API growth while 53% believe the top challenge for the success of microservices hinges on having the right experience and skills.
  • 90% of respondents have documentation in place or plan to have it in place in the future, while 60% of organizations agree or strongly agree that having documentation processes ensure their APIs are secure.
  • With rapid API growth introducing fragmentation in how APIs are designed, built, and secured, API standardization (51%) and security (40%) continue to be the top challenges that organizations want to solve. 
  • Organizations are making strides to have formal testing processes in place. In 2023, we saw a 15% increase in companies making formal testing a priority. 

Other findings showed that as teams try to do more with less, APIs are seen as a means to improve automation across the delivery process. Practitioners also expect API tooling to integrate better with existing tooling as APIs cover most organizational capabilities.

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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