You’re probably of Artificial Intelligence technology, the prime force behind several innovative applications. Looking around, you can easily identify numerous operations where Artificial Intelligence is used. You might also be using AI in some form, such as Apple’s or chatbots. The applications of AI are no longer limited to the digital domain. Today, AI presents a unique opportunity for almost every business.
AI has existed since the 1950s, but it has only recently begun to find real-world applications. These days, Artificial Intelligence (AI) is revolutionizing the business landscape by offering unmatched experiences for businesses and users. More and more industries are exploiting this technology to achieve greater automation, agility, and operational efficiency in business operations.
Applications of AI
According to a Gartner report, around 30% of companies globally will use AI to optimize their processes and reap higher revenues by 2020. AI is already helping industries such as entertainment, education, health, commerce, and transport solve various operational issues and create personalized user experiences. The technology mimics human interaction and offers higher speed and reliability at a much lower cost. To better understand the uses of AI, let’s take a quick look at the most significant industrial applications of AI.
1. Manufacturing
Manufacturing is one of the first industries to explore AI’s uses. Factories and manufacturing plants use AI-enabled robots to assemble and pack different parts without human intervention. Robots take instructions from humans and perform tasks right from assembling raw materials to shipping final products. AI algorithms also streamline the manufacturing supply chain process. The technology is used to identify the patterns of demand for products and predict market demand to keep track of inventory. Also, it helps in equipment maintenance by predicting malfunctions and possible breakdown of machines.
2. E-commerce
Nowadays, more and more people prefer online shopping. With the increasing trend of online shopping, websites started using artificial intelligence to offer personalized shopping experiences. The online retail stores recommend buyers based on their past purchases or items they put in the search box. AI is leveraging e-commerce websites by identifying their target customers’ interests and shopping patterns. The latest addition to improving customer convenience is introducing website chatbots to help people seek guidance or solve queries.
3. Finance and Banking
AI can minimize human errors and make the process faster when dealing with financial data. The banks and financial institutions need to automate the process considering the increase in financial accounts. With the help of Artificial Intelligence, data accumulation, analysis, and processing have become hassle-free these days. Also, robots are more efficient and quick than humans in analyzing market data, tracking consumer bases, and offering complete transaction security.
4. Healthcare
Artificial Intelligence has also become a vital part of the healthcare industry. Doctors and physicians are seeking the help of AI to diagnose patients and get assistance in treatment procedures. AI applications in the healthcare industry are reducing costs by reducing the need for several machines and equipment. Some great AI applications can suggest treatments based on the patient’s medical history, and some can even deliver anesthesia to patients automatically.
5. Entertainment
The entertainment industry is one of the early adopters of AI technology. Artificial intelligence is quite popular in video game development. With the help of AI, developers are creating gaming apps where players can impersonate a real-world person. Also, music users use AI to recommend users and videos based on their choipatternspast viewing or listening pattern. If an app displays the option, you may also be interested in the option, and AI is being used to suggest the genre of your choice.
