Whether we realize it or not, AI has surrounded our lives in direct or indirect ways. Artificial Intelligence is no more a luxury practiced by the primary leaders; instead, it has acquired our lives in numerous forms. Beginning from rule-based automation can now easily mimic human interaction.
On the one hand, artificial intelligence has bought a drastic change in technological fields; it has impacted all other global industries- healthcare, automobiles, manufacturing, retail, e-Commerce, finances, banking, on the other hand.
AI is Everywhere!
AI has evolved in the past few years and became a new norm for every business to thrive in the competitive landscape. AI is just everywhere today, no matter we realize it or not. In fact, the global AI software market is forecast to multiply in the coming years, reaching around 126 billion U.S. dollars by 2025. We can expect and experience a lot from AI, such as- natural language processing, robotic process automation, machine learning, and so on.
Major Application Areas of AI
When it comes to the applications of Artificial Intelligence, they are uncountable. All sorts of industries and business sizes benefit from the AI technology and implement it in their business model to make business operations even smarter while ensuring a rich user experience on their customer’s end.
Speech recognition
The most loved Siri on the iOS devices is backed by speech recognition technology and has made our daily lives more fun and smart than never before. Google maps is another area where AI-backed speech recognition proves its potential by generating navigation for the users.
Speech recognition includes three significant aspects- speech synthesis, which includes offline and online speech synthesis; speech recognition, which includes speech dictation and numerous other parameters; and semantic understanding, which utilizes meaning of speech, like voice evaluation, and so on.
Banking industry
In recent times, AI is experiencing rapid and global adoption in the banking industry. The majority of the banks and financial institutions are implementing AI-based systems for providing customer support, credit card frauds, detect anomalies, and so on. AI-based chatbots are assisting the entire banking industry in tackling customer queries instantly with expert assistance, and interactions with customers have been uplifted with the implementation of AI into the banking sector.
Additionally, these AI-based smart bots can gather knowledge from thousands of resources and offer relevant solutions in the blink of an eye. Tracing card usage, detecting fraudulent transaction patterns, and fraud prevention is another area where AI has become a blessing for the banking landscape.
Marketing
Implementing AI can help marketers to promote commercials with fewer efforts, resources rapidly. AI helps promote the maximum accuracy of a digital marketer to popularize and promote his products and services in the market.
Moreover, utilizing artificial intelligence techniques ensures the promotion of accurate products’ recommendations to the target audience, which further helps uplift the customer experience as the users go through a personalized shopping experience.
Agriculture
With the growing population across the world, the world will have to produce double the food we are producing today so as to cater to the future food demands. And this can be done if the resources are utilized smartly and wisely with the right set of tools. Implementing AI will assist farmers in getting more out of their land when using the resources sustainably.
Constant challenges like population growth, climate change, and food security issues have forced the agriculture industry to look for practical and modern approaches to address these issues for improving crop yield. Businesses utilize robotics and automation to assist farmers in discovering improved ways for safeguarding the crop from weeds.
Chatbots
Whether it is business, gaming, or the retail industry, Chatbots have gained the spotlight in recent times. Integrating AI-backed Chatbots hold the potential of changing how data can be received and understood in the long run.
Chatbots are proving their significance by providing flexible and smart analytics via conversations on mobile devices with voice-activated interfaces and standard messaging tools. It helps minimize the time for collecting data for all business users, which further helps to accelerate the business growth and streamlining the method analysts utilize their time, efforts, and resources for the evolving data needs in the time to come.
If you would like custom automation solutions, agencies like acuto can help to set up and integrate them for you.
Healthcare industry
Integration of AI in medical operations has taken the entire healthcare industry to new heights. We can see artificial intelligence applications in numerous forms in the healthcare industry from preparing prescriptions to carrying out complicated medical operations.
AI is broadly used for making prescriptions for patients depending on the individual medical conditions of the patient. We can experience tiny robots powered by AI technology that unfolds in the stomach of a patient and effectively treat swallowed button batteries and wounds. AI is even helpful for physicians to diagnose reports accurately and monitor precise results of a patient’s response towards particular medications.
Transportation
Self-driving cars are no more a thing of the future but have come sooner than we expected. These AI-backed smart cars can reduce road accidents to a great level since cars come equipped with Artificial intelligence that foresees accidents in advance and gets rid of accidents faultlessly.
Other segments where AI is proving its significance in the transportation industry such as Maps for navigation. AI-powered maps will offer the best routes to the users by using various algorithms that are based on various factors like traffic, routes, and so on.
Final Thoughts
Businesses globally are witnessing the true potential of artificial intelligence in countless ways in today’s times. AI acts as an umbrella in today’s tech-driven that enables all sorts of industries to reap the maximum benefits out of it and take their business to new heights while ensuring a rich and modern user experience. AI has a long way to go in the tech-driven world and assist enterprises globally.
Liza Kosh
Digital Web Services (DWS) is a leading IT company specializing in Software Development, Web Application Development, Website Designing, and Digital Marketing. Here are providing all kinds of services and solutions for the digital transformation of any business and website.
