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9 Ways Artificial Intelligence Improves Different Industries

Posted on August 7, 2019 at 5:40 pm

Whether you’re aware of it or not, artificial intelligence (AI) has already become an integral part of human lives. You interact with AI when you go through your Amazon recommendations or do a Google search. AI has successfully been integrated, too varying degrees, in several essential industries. In this article, we discuss 10 of the most prominent examples of AI in our world today.

1. Customer Support

Traditional customer support usually refers to a customer service agent who answers your inquiries over email or the phone. This is often one of the more expensive, but irreplaceable parts of all businesses because it requires immense human resources.

AI-enabled chatbots and customer assistants can give you all of the information that an individual can and interact with you realistically. The integration of chatbots can help companies save on human resources, diverting them to more productive tasks.

2. Online Shopping

Whenever you shop for anything online, the platform you’re using collects and saves your purchase decisions, browsing patterns, and other related information. These platforms then use AI to compile all of that data based on your actions to give you a more in-depth and more immersive shopping experience.

You get accurate recommendations based on types of clothes that fit your style and budget. You also get alerts and messages regarding sales on items that you may have expressed interest in. Certain shopping platforms can also modify their visual experience and interface according to the specific user.

All of these factors heighten user engagement and retention because they give users the best and quickest possible shopping experience.

3. Personal Assistance

In the past couple of years, AI has already become a huge part of personal assistant technology. Most people are now at least aware of technologies like Amazon Echo, Apple HomePod, and Google Home. All of these are personal assistants that can answer basic questions, control your other smart devices based on commands, and keep getting more intelligent over time.

For example, Amazon has launched a smart microwave that you can control via Amazon Echo. Similarly, various companies have started designing smart home devices — be it thermostats, security devices, lights, cameras, etc — that collaborate with personal assistant technologies.

4. Market Research

Several businesses have also started leveraging AI to draw keen and extremely specific market research reports. AI can go through vast quantities of data to compare trends, competitor pricing, and make future predictions. This helps companies stay ahead of the curve and accurately understand their strengths and weaknesses so they can stay ahead of their competitors. It can also help companies decide which type of products and services to focus on based on shifting market demands.

5. Healthcare

AI has proven to be a game-changer in the field of healthcare in different ways. Some of the most significant issues with healthcare have been the inefficiencies in their internal processes and ever-expanding medical costs.

AI, however, is on its way to resolve both of those issues. AI workflow assistants, for example, help doctors maximize their productivity and free their schedules to engage in the most necessary tasks. For example, AI is being used by pathologists to analyze tissue samples to make an accurate diagnosis of conditions. AI is also able to protect confidential information about patients’ records from cybercriminals.

6. Music

AI is also transforming the music industry. The most famous example, perhaps, is Pandora. Consumers are calling this musical DNA. It uses 400 musical characteristics to help professional musicians and producers analyze music for maximum appeal. It can recommend tracks that the wider public is sure to love inherently. It uses a music genome to understand your listening patterns and offer music that’s meant just for you.

7. Finance

AI has a huge role to play in the financial industry — an industry that relies on an accurate and real-time analysis of vast volumes of quantitative data. This is something that AI is perfectly suited for. The finance industry is using tools like machine learning, chatbots, automation, and adaptive intelligence to generate constant real-time insights into financial trends.

AI-driven advisors can scan the entire market to recommend the best stock and portfolio to invest in, for example. This also saves analysts hours of work because artificial intelligence can compile and put all the data together.

8. Transportation

AI is soon going to transform every aspect of the transportation industry. We already use artificial intelligence regularly when we rely on GPS navigation systems. These technologies store map information and analyze current traffic conditions to give you an overview of the shortest route to your destination.

Some of the world’s leading automobile manufacturers have also started developing their line of smart cars. While some smart cars require human assistance, some don’t require any human intervention at all. Furthermore, smart cars also can learn from each other to continue getting smarter.

9. Security

is being used in home surveillance systems and security devices as well. Humans can’t monitor a wide range of cameras and sensors every second of the day. However, thanks to technologies like facial recognition, voice recognition, thermal recognition, and motion detection, we don’t have to.

You can now set up your security system, and you’ll receive automatic alerts if any of your alarm criteria are triggered. For example, you can set it up to get triggered if there’s a certain level of motion within a specific distance from the camera and when it detects faces.

Conclusion

As you can see, AI has made headways into various aspects of our lives. The way we navigate roadways, communicate with each other, shop, listen to music, and so much more. The true extent of influence AI has on our lives goes much further than this and is likely to continue growing at a rapid pace. As such, embracing AI into one’s business can yield revenues that you wouldn’t even expect!

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9 Ways Artificial Intelligence Improves Different Industries

by emma time to read: 4 min
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