In the recent years, Artificial Intelligence (AI) has transformed various industries and helped to perform better and achieve success in their respective arena. An ideal amalgamation of human intelligence and machines has proven that it can create wonders in the businesses. This attachment of human intellect with the machine assists businesses, to automate their day-to-day activities, to understand customer behaviors, to decrease work expenditures and to create occurrences on an individual level.
Therefore, business individuals need to keep a close eye on the latest developments occurring in AI industry. This information can be vital as they can utilize AI in areas where it can create profit for them.
There are various industries that are already utilizing AI in their respective business functions and are getting benefited. Following are some of the leading industries that have utilized AI as an instrument to optimize their operations:
Healthcare sector has shown a positive response to assimilate AI in its field. That is the reason; Healthcare has received enormous funding to develop and execute AI. The modern day machine intelligence is assisting healthcare sector to examine medical data extracted from X-rays, CT scans and various other tests.
Segregation of this information is important as doctors go through the patient’s history to check and diagnose illness. Healthcare experts are dependent on their years of experience and prefabricated algorithms to acknowledge the symptoms of an illness. However, sometimes they overlook and make mistakes unconsciously. A BBC report titled ‘AI Early Diagnosis Could Save Heart and Cancer Patient’ stated that nearly 20% of experienced doctors make mistakes while diagnosing patient’s illness. Therefore, this arduous as well as daunting task is certainly made easier by AI.
There are famous examples of utilization of AI in healthcare sector. The Babylon AI doctor app avails speech recognition to interact with patients cross-examines carefully against its database and provides necessary treatment. Another interesting healthcare AI, Molly by Sense.ly -virtual nurse app- links patients to scientific recommendations and help, with the assistance of proprietary categorization engine pays attention to the patients and replies appropriate response to them. Microsoft’s Hanover project utilizes machine comprehension with natural language processing to forecast productive cancer drug compatible to the patient.
2. Automobile and Logistics
Automobile industry is witnessing crucial shifts such as autonomous driving, connectivity, electrification and divided mobility. It is anticipated that the automobile industry will experience rise in economic growth by shifting from conventional to disruptive technologies and unconventional business models.
On October 14 2015, Tesla announced that it is going to launch an autopilot car i.e. a car with self-driving capability. The car is expected to drive itself from coast-to-coast with the help of autonomous navigation. Other car makers are aiming to implant AI services like Amazon’s Alexa. This will authorize passengers to self-command car technologies with the help of natural language voice orders.
German premium car maker Mercedes-Benz has deployed voice command personal assistant in CES show 2018 held in Las Vegas. Its arch business rival BMW followed the footsteps and decided to adopt Alexa and its assimilation into its handpicked BMW and mini automobiles. KIA Motors has also proclaimed that it is thinking about assimilating Google assistant in its cars.
It is the need of the hour for any business to perform better in its services and increase profit as much as possible. It is expected that machine learning (ML) will empower systems to an extent that they will comprehend the data and utilize it to increase their performance. This is where AI comes into the picture. The association between AI and ML can create wonders in logistics, where time is a paramount entity.
The logistics sector gathers extensive data from diverse sources such as websites, smartphones and various telematics tools. Predictive analytics not only rearranges delivery schedule but also predicts subsequent orders which gives logistics sector an advantage to utilize its resources effectively.
Interestingly, AI does not stop there. It assists in semi-autonomous driver assistance, autonomous fleets for ride sharing, engine overseer and forecasting maintenance for automobiles.
Also, AI has been assisting logistics sector to construct supply chains beforehand with the help of advanced systems. This computer assistance in automobiles delivers goods in the efficient manner which is essential for the success of a logistics company. The forecasting helps logistics to avoid disastrous calamities such as difficult weather situations, traffic delays and many unexpected occurrences.
3. Marketing and Advertising
Marketing sector has changed drastically over the years. Customers anticipate for a personal experience and it is the need of the hour for marketing sector to change itself and adjust accordingly. They are required to leave the conventional methods of marketing and concentrate on enhancing their communication, execute demands as well as aspiration. This adaptation of AI is vital for marketing sector as reluctance to implement this new technology can lead to loss of business for the company.
AI assists marketers to find and forecast customer attitudes. This precious information allows marketers to carry out impactful keywords and communicate with consumers on a more personal level. Moreover, chatbots also help to execute this communication in a less expensive, effective and in a persistent way.
On top of it, AI generates ideas which are subdivided into many sub ideas. This way the risk of catering a sole idea is eliminated and various ideas can be catered according to customers and their preferences. Brands have started to acclimatize on this useful technology and are focusing on selected customers. Startups have also begun to apply AI with the help of AI automated personalization and compelling video content.
4. Virtual Assistant
A Virtual Assistant can help you to handle smart home devices. This feature will allow you to administer door locks, lights, appliances and many smart home devices. There are Virtual Assistants available in the market, which show the capacity to function as an intercom. A user needs to place Virtual Assistants in every room to communicate with others. Amazon Echo’s ‘Drop In’ feature enables users to interact with each other from different rooms.
Users can also utilize Virtual Assistants to shut down and start TV sets on compatible television models. In addition, a Virtual Assistant in the kitchen can also be utilized to handle kitchen machines.
Virtual Assistants such as Amazon Echo as well as Google Home incorporates ‘Routines’ attributes which allow these Virtual Assistants to carry out many tasks on a single command given by the user. This means a user can create a ‘Routine’ command which will instruct the Virtual Assistant to start multiple tasks it supposed to execute.
Industries are constantly trying to update themselves by adapting new technologies. AI is transforming industries and helping them to grow their businesses. It is going to advance into more sectors. It will help human beings to operate risky tasks, decode universal issues and take care of various human tasks. We can definitely anticipate a future where AI will be the new normal.
– Abhishek Khilare