Artificial Intelligence, or AI, is a computer system that has the ability to learn and think as humans do. They can be programmed to perform tasks such as speech recognition and translation with accuracy that is near perfect. The use of AI is becoming more prominent in various industries such as healthcare, retail, transportation, and finance.
Artificial intelligence is said to be able to improve revenue and reduce costs for many companies. The most common AI technology is with virtual assistants such as Siri, Cortana, Google Assistant, and Amazon Alexa. They are used on devices such as smartphones or smart speakers like the Amazon Echo or Google Home. Virtual assistants allow users to ask questions using their voice and receive answers verbally with the help of these intelligent bots. Below are the top industries benefiting from the technology.
The healthcare industry is a top sector utilizing AI technology. The use of chatbots allows medical professionals to answer basic questions from patients, such as what their symptoms are or what medications they’re on. These chatbots can also guide users through health check-up processes by asking them various questions, then giving advice based on their responses. In addition, there are mobile apps that generate diagrams to help perform surgical procedures.
Examples of this include Google’s DeepMind project which developed an app called “Deep Patient” that generates treatment plans for schizophrenia and breast cancer without human input or supervision, while IBM Watson assists doctors in diagnosing and treating cancer patients through analyzing clinical data and even genomic data if available. Using AI could reduce the time it takes to successfully diagnose and treat patients, decrease medical errors, and save money for insurance companies.
AI is becoming popular in the manufacturing industry because it can help companies decide which parts to use and how they should be made. Companies can train some of their employees in machine learning in manufacturing, so they can oversee that department. AI can analyze thousands of images taken by powerful microscopes that contain important information, such as the number of scratches on a metal plate or the concentration of bacteria in a tablet.
Furthermore, chatbots are being used for customer service purposes to answer common questions about products, such as where it was manufactured and what materials were used to create it. Overall, there’s been an increase in demand for intelligent machines that can improve efficiency and decision-making, so these organizations can take full advantage of this technology.
AI is used by many retailers in various ways such as product recommendations, analyzing past transactions to predict future spending habits, personalizing marketing messages based on individual customer data, and providing virtual assistants. For example, Amazon uses AI technology to provide recommendations based on purchasing history or the option of suggesting unread books by an author that one previously read.
Alibaba utilizes intelligent chatbots that can help customers find products they’re looking for, even though they may not know exactly what the product name is called. The chatbot will ask questions about certain aspects of the product; if it’s a pair of shoes then it’ll ask the color, size, specific style, etc. These chatbots can even be used to negotiate prices by requesting lower prices for items that aren’t selling well.
AI has become popular in transportation through self-driving cars, which may sound complicated, but it actually isn’t as hard as you might think! All these self-driving vehicles have been equipped with sensors called LiDAR which stands for light detection and ranging. When light is aimed at an object and then reflected back to the sensor, the amount of time it takes for the light to get from one point to another determines its distance from that object.
This technology helps the car know how far things are in front of or behind it, so it can adjust accordingly. Furthermore, there are robot taxis, which consist of a driverless vehicle used as an alternative taxi option for people to use while they’re away on vacation or if their usual ride isn’t available to pick them up. This service would be cheaper than typical rideshare options because these cars drive themselves and don’t need human drivers.
AI has been adopted by many financial institutions like banks and insurance companies because of its ability to analyze information and automate certain tasks. Banks use AI technology to detect fraud and predict customer behavior. Insurance companies utilize robots that can gather copious amounts of data by scanning thousands of policies in order to determine the usage patterns and increased risk of an area.
This information can help insurance companies decide where to provide coverage and how much it should cost based on the risk of place, time of day, week, month, or year. Marketers also use machine learning algorithms that are capable of scanning thousands of data points to determine who is most likely to buy a certain product or service.
AI has become useful for advertising companies because of its ability to track, collect, and analyze data. This technology is used by some ad platforms like Outbrain to better target its users based on their interests or search history. It’ll match the person with relevant content that they may be interested in, which can increase clicks on ads and potentially lead to more sales.
Furthermore, there are chatbots (mentioned above) created by companies like Orabrush which make internet marketing more personalized for customers by providing tailored messages according to the individual’s needs at the time of purchase.
AI has been useful for companies that conduct research since it can analyze thousands of publications within minutes. In fact, there are programs like IBM Watson, which works as a personal tutor for students who need additional support in their education. This AI program takes the student’s information and tests them to determine how they learn best so it can provide tailored lessons according to their specific needs.
Also, data on students’ interests are analyzed, so teachers know what material to prepare for class and how much time should be spent on certain subjects. They’ll also use this technology on tests by feeding a question into a computer that then scans multiple choice answers before coming up with the correct one, which makes grading faster and easier. AI can even go as far as helping find out what’s wrong with a computer system before repairs.
In the world of Artificial Intelligence, there are a number of industries that have been able to benefit from AI technology. In this article, we’ve provided a breakdown of the top industries that use artificial intelligence in their day-to-day operations. From banking and finance to retail stores, these sectors make up over half of all jobs in America. If you want your business or organization to grow exponentially while saving on costs at the same time, it makes sense for them to adopt AI technology sooner rather than later.