30-Sec Summary on AI
- AI technology is becoming a revolutionary technology. The world of businesses has now realized the fact that Artificial Intelligence is exploring day by day, and it is crossing the sky.
- According to the research report of Market And Markets, the worldwide AI market will grow enormously to $190.61 billion by 2025 at CAGR of 36.62%.
- AI technology makes our daily lives more comfortable and faster. It is essential in today’s era as it has the capability to solve complex problems and tasks with an efficient way across several industries.
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In this blog on the application of Artificial Intelligence, we discuss how AI has been impacting the following major industries across the globe.
Before moving on, you should know what Artificial Intelligence is? And what are Examples of AI?
Now, let’s have a look at the
Top 10 Real World Artificial Intelligence Applications
#1 AI in Healthcare
Health is one of the most important things people needs. As we know, Health is wealth. From the past a few months, COVID-19 has been a buzzing word in everyone’s mouth and has undoubtedly become a global crisis.
In this crisis situation, AI being the front line of defense in utilizing it to keep tabs on the Carona virus. Artificial intelligence has been reducing the time and effort of medical attendants and doctors.
Artificial Intelligence is definitely going to provide more services in the health care field. The implementation of computing technologies in the health care sector is bliss for the world as it helps to mitigate all the complex challenges.
AI-based applications in healthcare are useful for interpreting medical data and coming to the right decision without direct human input. These applications are majorly applied in personalized medicine, patient monitoring, diagnostic procedure, drug development, treatment protocol development, and so on.
#2 AI in E-Commerce
The e-commerce field has been bustling with the retail industry late. Topmost e-commerce firms are using new and latest technologies such as Artificial Intelligence, Machine Learning, and Natural Language Processing. Ecommerce entrepreneurs are actively using AI in the form of virtual assistants, chatbots, smart logistics, etc., to forecast and analyze consumer experience.
ML-based applications are being used to enhance the marketing strategy. Automation has become a key element to efficient warehouse operations, and AI contributed many businesses in delivery products on time. The main objective is to cut shipping costs.
In addition, Machine learning aids eCommerce companies with product and contract recommendations, product search ranking, demand forecasting, fraud detection, merchandising placements, etc.
Also Read: AI In Retail: What Artificial Intelligence Can Do For Retail Industry?
#3 AI in Marketing
Marketing means attracting more customers to purchase the product or service. Marketing and Sales professionals should always be active with their prospects and leads. Social Media Executives have also been leveraging AI applications in their marketing funnel.
Trending technologies like Predictive Intelligence and machine learning help salespeople reach their goals and interact with the hottest leads. AI technology can also save the time and cost of businesses.
#4 AI in Banking
Nowadays, Banks and other fintech companies are showing much in AI software as it has a huge impact on the income of the banking field. Many large banks around the globe have implemented this powerful computer technology for automation purpose and use it as a tool for efficient service operations.
Latest technologies are successful in the market of equity capital and can help firms improve their company structure. AI implementation in banking has assisted payment efforts and simplified the process via AI chatbots, allowing the operations to run smoothly.
Some world’s leading banks have adopted AI technology in the area of Intelligent Virtual Assistant to enhance customer satisfaction. Some fin techs are using it to monitor potential threats and prevent frauds to consumers in eCommerce.
#5 AI in Education
Education is essential to everyone, regardless of age, and it is a vast field. AI-based software is helping teachers and students at various levels. It is great news that Artificial Intelligence makes our education system smarter. This technology is aiming to offer an amazing teaching experience for teachers and learning environment for students.
Artificial Intelligence and emerging technologies are creating the right mix of learning ecosystems. 21st-century classrooms have emerging technology solutions to provide the best learning environment for students.
In the 19th century, teachers used chalkboards to educate students, but now because of digital/ computer technology, they are using projectors and explaining through videos and real life examples, which can make things easier to understand. Nowadays, it is easy to learn and get any information through internet and AI.
Also Read: Top 20 Powerful AI Applications
#6 AI in Sports
AI implementation in the sports sector is really a game-changer. Yes, I can confidently say that AI-based apps have a huge demand in the sports industry as they have significant capabilities. This is definitely going to change the sports sector.
AI technology makes sports more exciting and facilitates athletes to get the best out of them beyond their ability to practice. This will bring real competition among the athletes and players.
#7 AI in Travel
The travel industry is set to reap significant advantages from artificial intelligence on the widespread use of AI Chatbots. It is true that Chatbots are proven tools to enhance customer engagement because of their 24*7 presents and quick resolution for the raised queries.
Advanced AI algorithms enable chatbots with increased capabilities, giving more accurate solutions to customer queries. Most of the multinational companies are planning to develop their own AI-based chatbots and mobile apps and to increase customer satisfaction.
In addition, predictive analytics and machine learning can help travel industries improve their conversion rates by finding buying patterns and customer behavior.
#8 AI in Entertainment and Gaming
By entering the entertainment field, AI can aid program broadcasters and producers determine which programs and TV shows are most recommended to each individual based on their past activity. For instance, Amazon Prime Video and Netflix are widely using AI technology to provide a more personalized experience to their customers.
AI is being adopted in the film industry to maximize digital impact in cinemas to fasten the pre and post-production process and reduce cost as well. It also helps in creating science fiction films.
Do you know? The gaming sector is earliest adopters of Artificial Intelligence technology, and the impact of AI in consumer engagement is profound. AI is used in many gaming applications in order to control the actions of non-player characters, which play an important role in moving the game’s storyline the right way.
Agriculture is one of the important industries across the globe, and AI in the agriculture sector can help improve farmers ’efficiency and reduce the impacts of a hostile environment. The agro-field has embraced AI strongly and openly in their practice to transform the overall outcome.
AI technology adoption will help control and manage the uninvited conditions of nature. Advanced technologies such as IoT and AI are very useful for timely planting, using fertilizer, harvesting, understanding the environment and obtaining predictions.
Today, many startups in agriculture follow an AI-enabled approach to increasing farm productivity. Implementing AI-enabled systems can quickly detect and respond to climate change or diseases.
Also Read: 5 Applications of AI In Food Processing Industry
#10 AI in Manufacturing
There is no doubt that the manufacturing industry has taken the lead in the adoption and application of AI technology. In the manufacturing sector, AI is used in many layers and lines of operations, from planning the workforce to product design, thereby developing product quality, employee safety, and efficiency.
Robotic machines are playing a significant role in the production process. Most of the industrial robots are often stationary, but there is a risk of slipping into nearby objects. The adoption of AI in robotics has led to the notion of cooperative robots or “Cobots” that takes guidelines from humans and work productively together.
Furthermore, artificial neural networks and machine learning are used in factories to help in complex industrial equipment management, which forecasts asset dysfunction accurately.
Artificial Intelligence implementation makes our life smarter and simpler. AI technology helps businesses increase productivity and offer the best service to their customers.
If you would like to adopt AI technology in your business, please reach us today.
USM is providing cutting-edge AI solutions to transform your business. We have immense experience in embedding high-tech AI capabilities in Robotic Process Automation (RPA), Virtualization, Predictive Analytics, Natural Language Processing (NLP), Text-to-Speech and Deep Learning-based projects.