AI Has Been Used To Develop And Advance Numerous Fields And Industries, Including Finance, Healthcare, Education, Transportation, And More - Coffee with CIS - Latest News & Articles

AI Has Been Used To Develop And Advance Numerous Fields And Industries, Including Finance, Healthcare, Education, Transportation, And More

Artificial intelligence is the future but at present too it is used in almost all the industries.

From finance to education and healthcare IT solutions to transportation, it is present everywhere. This article will also discuss all the industries that it is used in and how it benefits each of them. The world knows a lot of things about AI but there are still some important things that they don’t know about it like where and how it is used.

The future is based on technologies like IoT, AI, and blockchain. Until the world is aware of the applications of these technologies, things will not look proper. AI or artificial intelligence is something that gives our devices the ability to work on their own. It is like providing a brain to a machine but that brain will need some codes and algorithms that decide how it will work and process information.

One more part of AI is ML or machine learning. It allows a machine to learn by interacting with users. It is already provided with some inputs that tell it how to respond initially and later as it interacts with the users, it can itself learn how to behave. This is the reason why the same machine can behave in different ways with different users. There can be a system that teaches all machines commonly if the reports are going to one certain server and then be applied to all. AI is used in devices that we use in our daily life and in data science-related software too. There is no limit to it, and it all depends on the developers. If the developers are smart and creative they can put it into use in any situation. This can be used to automate, to authenticate, to decide between two things, and to analyze the data. There are endless possibilities for the applications of AI.

AI development companies are developing applications that the world never imagined. There are virtual assistants that can make calls on behalf of a human being and fix meetings for them. There can’t be any better thing than this for businesses and industries. AI can help industries and enterprises to improve efficiency and save a lot of time and money. Eventually, all of this will increase the revenue of businesses and help them to grow at a better rate.

Fields In Which AI Is Used

AI is used in some way in almost all the sectors as of now. There is rarely any task in which AI is not used to perform it better. Be it education app development, agriculture, or security, every sector needs AI to improve itself. Listed below are the areas in which AI is used:

  • Chatbots/Virtual Assistants like Siri

  • Farming

  • Security

  • Finance/Banking

  • Education

  • Automation

  • Automobiles

  • Development

  • Data Analysis

  • Security (Digital and On-Ground)

  • Warehousing

  • Medical Research

  • Data Science

  • Livestock management

These are just some of the sectors that make use of AI to provide their end-users with the best services. There are many other services that are still on their way to use AI. In the coming five years, almost 80% of the industries will be using AI in some way. Digitization and AI go hand in hand. This is something that is inevitable. There can’t be an industry that uses information technology or development services in which AI has no role to play. No application or website can be developed without including a part of AI in them. This is something that will make them smart and reduce the efforts that organizations have to put in to maintain themselves. Won’t it be better if websites test themselves every few days for any damage in the code or any error? This will keep a website working properly and will also improve its efficiency.

How AI Powers Virtual Assistants

Virtual assistants are completely dependent on artificial intelligence. For the past few years, it has changed the world and businesses. Virtual assistants are smarter now than ever. They have the capability to change business processes and fuel the speed of business operations. Artificial intelligence has allowed virtual assistants to take notes, respond naturally, have a conversation with a user, and capture the important details of a person. E-learning portal development is also a prominent area where AI-based solutions are widely used. All of this makes it easy for business people to manage their tasks, schedule meetings, and set reminders and alarms.

Virtual assistants like Siri and Alexa are smart enough to understand almost anything that users say. They can also be customized according to the needs of individuals. Recently, these assistants have also been integrated with home appliances and automobiles. Because of that, they allow users to control them through their voices. Alexa is a device that allows users to play music, control house devices, and ask questions. Google Assistant is being developed in a way so that it can also make calls and fix a meeting to save time for employees. Google Assistant will also be able to take notes so that even if a user is not able to take a call, they can still know what someone called them for.

It is expected that these virtual assistants have a great possibility of growing in the future. AI and ML allow developers to help assistants to understand things on their own and respond to them accordingly. Just like chatbots, they will be able to learn from users when they interact with them. ML or Machine Learning is a concept in which the algorithm is kept open and users can teach their own assistants their personal things. This will allow them to make the best use of the assistant. It will eliminate the need for a human assistant and improve the quality and accuracy of the records that will be kept. Chatbots, which are used in eLearning portal development, are also virtual assistants, and they are great for businesses. If we look at the marketing sector, chatbots and virtual assistants play a great role in it. This is the reason why developers are working really hard on this specific technology.

Understanding The Role Of AI In Different Sectors

As mentioned earlier, AI is used in a lot of industries, and in the coming time, it will possibly enter all the sectors. It is important for new developers or technology enthusiasts to understand its use in different sectors. Given below is the role played by AI in some important sectors:

1. Agriculture

In the agricultural sector, AI can definitely do wonders. Equipment such as autonomous tractors as well as AI-based drones can be easily used to increase productivity and get a safe and effective crop yield of farmlands. Another useful application of AI is the usage of robots and automated machines that are specifically used to monitor a crop’s health conditions as well as harvesting by investing less time and effort. If AI is used in agriculture, crop productivity can experience a major boost with better plot health and weather monitoring systems. Having prior knowledge about weather and rain will reduce losses for farmers.

2. Automotive

The automotive industry has already started implementing AI in various domains. Autonomous vehicles, popularly known as self-driving cars, are the most prominent example of the use of AI. Fully integrated machines will work according to instructions and artificial intelligence will make the process hassle-free. It also helps in understanding the surroundings and real-world scenarios in a better way. Another important application is the AI-based face recognition and biometric system. These technologies are being used way more than any other artificial intelligence technology. It helps to keep a track of human beings and provide a relatively safer zone to sustain and work. Security cameras and other equipment that are used for surveillance also use the AI face recognition technology to keep cities and habitats safe from thefts and other dangers.

3. eCommerce

When it comes to the usage of artificial intelligence in eCommerce, it can be observed that the e-commerce industry promoted the usage of automated warehousing, transport and logistics solutions, and supply chain management. This has been a great factor in reducing manpower and it also helps storage companies to manage huge amounts of stock or inventory with a more transparent and efficient supply and management system. This AI-based system is also helping the e-commerce sector to operate more efficiently and improve operating margins. AI is not only providing benefits to the supply and management team but is also enhancing the shopping experience of customers through automated robots, AI-based dress trials, and so on.

4. Healthcare

Healthcare IT solutions have also experienced a massive revolution with the introduction of artificial intelligence. AI is being widely used to empower machines to analyze, diagnose, as well as predict the various types of possible diseases and also for regular monitoring of the health conditions of patients. AI plays a vital role in helping scientists and researchers to make new discoveries about drugs and develop new medicine development strategies so that it can provide more effective treatments and help people to recover faster. It also helps people to avoid common health problems. A major development in recent years is the use of AI in radiology to detect various types of critical diseases with the highest possible level of accuracy. This results in faster diagnosis and treatment.

5. Education

AI has been improving the quality of education for the past few years. There have been education app development projects that are based on teaching students according to their level of intellect. The software that is used now has many analytical and other features that help students in finding the courses that they want to study. This is done through AI algorithms that allow it to check the activity of users and according to what they search and what they are already studying they are suggested other courses. Classrooms are getting smart because of this technology. Study plans have improved. AI has also improved a lot of things for the teachers as well. They have new tools and software through which they can teach better and find new material through research.

Read the blog- How Technology Impacts Education And Invest In Education App Development

6. Transportation

Transport and logistics solutions are all set to have an AI-based revolution. The use of machine learning as well as predictive analysis is doing wonders in supply chain management as it has been mentioned above. There are several warehouses that use AI-powered robots for sorting as well as packaging purposes. AI algorithms are also being highly used to find the quickest and the shortest shipment route and also for providing the maximum support for last-mile delivery.

In the transportation industry, self-driven vehicles are ready to change the experience of driving. Many companies such as Tesla, Volvo, Uber, and Volkswagen are the flag-bearers of this research. Research is also underway to leverage AI algorithms to smoothen the work of a public transport logistic company which includes scheduling, routing, and even traffic light management.

7. Financial

The banking and financial services sector is experiencing a massive transformation due to the beneficial applications of AI. In the domain of banking and finance, the use of AI is huge. There are cases where human agents are getting replaced by intelligence software robots. This helps in the processing of loan applications as fast as a fraction of a second. Similarly, in the field of finance, robotic financial advisors are there that go through multiple levels of data in a split second and recommend the right investment decisions for customers. These artificial advisors also help in analyzing social media activity, emails, and other personal data of clients to help various companies to identify their long-term needs and objectives.

8. Marketing

The field of marketing has benefited a lot from artificial intelligence. It provides them with analytical benefits and automation features. Marketing needs data and data processing, and AI has been proven to be able to handle big data really well. There has been a great improvement in business operations with the introduction of AI. The tools that are used by organizations for marketing have something related to AI, which helps tools to analyze and perform better operations. This can save a lot of time and cost for companies This is eventually something that will increase the profit of organizations.

AI in marketing and sales activities will improve even more with the help of blockchain and IoT. These three technologies together can change marketing strategies and help enterprises to grow at the best possible rate. The reason why it is so certain that they will make it all better is that everything in the future will depend on data, and IoT is all about data/big data. When the data captured by IoT devices is analyzed by AI and blockchain provides transparency, everything will become better. Blockchain will help companies to build a better relationship and trust with their customers.

9. Entertainment

AI has already started taking over the entertainment industry to unbelievable extents. AI is greatly helping program producers and broadcasters to identify which shows, movies, or programmers they must recommend to every individual user based on their recent search activity and areas of interest. Companies such as Netflix and Amazon Prime use this technology extensively to provide the best choices for every user and provide them with a personalized streaming experience.

Machine learning algorithms are also being used in a great way to study user behaviors and such algorithms are becoming even more intelligent with time. These algorithms are useful in determining whether a user wants to purchase a particular product for themselves or want to buy it as a gift, the watching preference of every member in a family, and so on.

As far as the film industry is concerned, AI is used to enhance digital effects in movies. It not only saves costs but also speeds up the pre and post-production processes. AI helps in the development of creative content in a cost-efficient and effortless manner.

Read the blog- Guide About Artificial Intelligence: AI Development Tools And Frameworks That Will Be Trending In 2020

Conclusion

From healthcare software development to education and other industries, AI has reached everywhere. There is no sector right now that has not been touched by AI. In the coming future, this use will increase to a great extent. Developers are trying to find out more benefits of AI for businesses as well as the general public. This is something that will make the future what people want it to be like. There are many things that are under development and will be used to improve the education and finance industries. The industries that have not yet been explored by AI will also not be left untouched by it.

The world is changing and so is technology. AI, IoT, and Blockchain are three technologies that developers are developing for the betterment of everyone. Devices will be smarter and human beings will have to put in fewer efforts into their tasks. The world needs AI and it will not take too long for it to get into their desktops and smartphones now.