Artificial intelligence! It is amazing how this fine technology is taking the world by storm. From augmenting skills for the future workforce to providing intelligent security cameras, AI is slowly becoming an integral part of tomorrow’s future.
AI is growing each day by shaping a smart and efficient society, and the new technology has already been proven to be one of the most significant tools that computer technology has given to humanity.
The addition of AI in the industry is like a new edition of the business world. Prediction states that the AI market is bound to grow to USD 190 billion by 2025, source ~ Markets and Markets Research Firm.
Thanks to the recent innovation made in AI and machine learning – under which the industry is undergoing unprecedented transformation.
Let’s take a deeper revelation at some of the best applications of AI.
1. AI in healthcare
With COVID-19 becoming a global crisis, AI became the first line of defense in using it to keep tabs on the virus. In this unprecedented situation, AI comes to play be helping reduce the work of clinicians and medical attendants.
Based on a recent study that was published in a journal Radiology, it was mentioned with the help of deep learning, COVID-19 could be differentiated from a community that acquired pneumonia or other lung diseases.
2. AI in content creation
Wordsmith an AI-powered tool that is capable of transforming data into insightful narrative. Tech giants such as Tableau, PwC, Yahoo, and Microsoft are using Wordsmith to generate near about 1.5 billion content pieces in a year.
3. AI in artificial creativity
AI has created wonders by mimicking the style of great painters and helping compose pop ballads or making informed decisions in filmmaking. Have you ever wondered, how far could AI go? A conversation with 30 other thought leaders and AI experts showcased different perceptions in extending the capability of AI becoming the true creative partner of a solo work of art. Let’s not get into a debate here and rather focus on how likely will AI be able to expand. During the year 2016, IBM Watson’s cognitive platform was used to create the first-ever AI trailer for a movie called Morgan.
The role of AI in the movie Morgan depicted multiple creative endeavors to demonstrate how far AI has reached using deep learning.
4. AI in chatbots
Conversational apps are getting matured every day. For instance, Alexa provides the ability to translate the human language to take up desirable actions. Chatbots are already embedded in our daily lives in the form of virtual assistants – Cortana, Google Assistant, and Cortana.
A report by Grand View Research made a prediction that mentions the growth of the chatbot market to rise to USD 1.25 billion by 2025. Also, a 2016 survey by Oracle said that most businesses are already using chatbots or either plan to use them by the end of 2020.
5. AI in space exploration
Astronomers are now using AI to sift through years of data that is obtained using a Kepler telescope to identify a distant planet solar system. AI and machine learning have been the best ways that can handle data at this distance. NASA uses AI to tackle problems in space.
Kepler-90i – a sizzling hot, rocky planet that orbits its star Kepler-90, a Sun-like star– was found using machine learning from Google.
NASA has confirmed the Kepler-90 star system is like a mini version of our solar system.
6. AI in social media
Information is just a click away, we believe in this fact, don’t we? We’re all influenced by it, the reason why social media has become a significant part of our daily lives.
While some may agree and some disagree, most of us are addicted to platforms such as Facebook, Instagram, and Twitter. No doubt, these platforms have proven to generate business for many entrepreneurs, organizations and other professionals to gain recognition and identification in the online world, and at just moderate cost.
For this strategy to pan out, businesses have started focusing on AI and its tools to gain maximum benefit out of it. Some of the examples include optimization of content for social sites, using chatbots, prediction of business growth, satisfactory customer service, and improving user experience in social media platforms.
7. AI in autonomous vehicles
Autonomous vehicles have been the talk of the town. It is not a figment of imagination, it is happening, the reason why AI is closely being connected to driverless cars. Tesla and Waymo have started investing heavily in driverless cars. The AI system collects data from the vehicle’s camera, radar, cloud services, and GPS and produces control signals that help operate the vehicle.
In the coming years, driverless cars will revolutionize the transportation system.
8. AI in agriculture
Companies are devising robots to harvest crops at a considerably higher volume and a faster pace as compared to humans.
Besides robots, companies have started leveraging deep learning and computer vision algorithms to process data that are captured with the help of drones or software-based technology in monitoring the health of the soil and crops likewise. E.g. Blue River Technology and Plantix to identify defects and nutrient deficiencies in the plants.
9. AI in marketing
Marketers are taking tons of efforts in building strategies, plans, campaigns, measuring the growth and tweaking whenever and wherever needed. Did you know, AI could easily automate all these tasks for you?
A 2019 study says, 40 percent of the marketing and sales team are explicitly using data science and AI in their business leading the department toward the pinnacle of success.
10. AI in banking and finance
The new technology is poised to be the future for the banking industry as it powers up analytics to fight against fraudulent transactions. Nomura Securities, a Japanese financial holding company have started using AI to help analyze the insights of the experienced stock trading.
AI as a technology is growing at a rapid pace. It is here to enrich our lives and make this society a better place to live.
