Artificial intelligence is a buzzword that is here for quite some time now. Artificial intelligence has a huge impact on almost every industry be it healthcare, banking, finance, the stock market etc. Apple’s Siri, Tesla’s self-driving, Alexa have shown us the capabilities and potential of the artificial intelligence. Artificial intelligence is making a huge difference in almost every field of concern. There is no denying that artificial intelligence application will transform all the industries and expand its aura to multiple new industries as well.
Let us now jump over to how artificial intelligence is benefiting the various industries and what is the impact of artificial intelligence on these industries. But first, let us get to know artificial intelligence first.
What is artificial intelligence?
Artificial intelligence is the science of giving intelligence to the machines. It is the branch of computer science that makes it possible for the machines to learn from past experience, adjust to the new inputs and perform tasks that would otherwise require human intelligence. Some of the examples of artificial intelligence machines are self-driving cars, virtual assistants like Apple’s Siri, automated machines etc.
Let us now discuss benefits of artificial intelligence in various industries.
1. Healthcare
Healthcare is one of the crucial sectors for mankind. It is also one of the first sectors to have witnessed the benefits of artificial intelligence applications. Healthcare sector has invested heavily in artificial intelligence research and will continue to invest in the upcoming future too. Artificial intelligence is already gaining ground in a number of areas of healthcare.
One thing that is in abundance in the healthcare is the data. Hospitals have billions of records of patient history, medicinal research, medical procedures etc. Handling that much amount of data and getting useful insight from the data is a big challenge. Artificial intelligence can help the healthcare sector in this regard. Machine learning and data mining servicescan help in identifying the patterns that are difficult for humans to identify. These patterns can be useful in the diagnosis, progression, and treatment of many incurable diseases.
The diagnosis of a medical condition is not as black and white as we may think. The diagnosis of disease is often complex as a number of indications and observations have to be carried out to get to a conclusion. You will be surprised to know that very few blood test for common diseases are 100% accurate. Almost all the tests have a certain amount of error.
2. Cyber Security
This is one such area that needs immediate attention. It is hard to imagine the damage that cybercriminals can do if they incorporate AI in cyber attacks. To much concern, this has been happening for quite a while now but is in the infant stage. For the past few years, the internet has been bombarded by bots that are constantly hitting the webservers looking for the vulnerabilities. As soon as they find one, they inform their owners or automatically exploit the vulnerability.
These bots are however unintelligent and cannot learn to adapt to the security and behavior on the basis of what they find. This is where artificial intelligence can be weaponized. Rather than simply bombarding the server with attacks, bots will have the ability to learn and adapt to break the cybersecurity. Artificial Intelligence tools are already being developed that can learn what phishing techniques are the most effective and automatically create phishing campaigns that are far better than the human counterpart.
3. E-Commerce and Customer Service
E-Commerce is the fastest growing industries in the world. The competition in this sector is cut throat and forces the industry for innovation. You may have knowingly or unknowingly witnessed the artificial intelligence in E-commerce. Every time the e-commerce website recommends you the products, this is driven by the artificial intelligence. This is a complex set of algorithm that can determine what you are looking for based on your past searches and the demographic profile.
E-commerce websites generate a vast amount of data and this data can be used for AI to generate the recommendations. While surfing the internet, you may have come across the chatbot application. This is also an instance of the artificial intelligence application. This is a good way for the brands to communicate with the customers. It will be interesting to know how artificial intelligence will transform the E-commerce sector. Its biggest impact will be on the customer service but it can also be best used for the recommendations to the users.
4. Virtual Assistant
Technological giants like Apple, Google, Amazon etc are trying to create home virtual assistant devices. The skills of these devices are fairly basic but are definitely going to improve with the passage of time. We will witness big advances in the capabilities of virtual assistance devices over the next few years. This is because the biggest and the most innovative companies are working on them. The virtual assistance devices will be connected with most of the consumer devices and home automation systems. The software that is behind these devices is integrated into the products like cars, fridge and other home appliances.
5. AI in Transportation
Artificial intelligence will transform the transportation industry with driverless cars. The test has already been made on the self-driving cars. The tests reveal that with some improvements, self-driving cars can be introduced to general masses. Driverless cars use computer vision, artificial intelligence and machine learning techniques to function.
There are many advantages of having driverless cars. Like, accidents caused by drunk driving, drug driving, overspeeding can be eliminated. This can reduce accident rates drastically and thousands of lives can be saved. A car equipped with artificial intelligence can not only drive defensively but also can react faster than any human.
Conclusion
In a nutshell, we can say that the artificial intelligence research and development is likely to become much more prevalent across many industries over the next few years. In this article, we have discussed a few industries but artificial intelligence will have an impact on almost all the industries. We are eager to see how artificial intelligence will tranform the industries in the upcoming years.
