AI changing everything: What the future holds!

Picture Source: Oracle

“Success in creating Artificial Intelligence would be the biggest event in human history”- Stephen Hawkins.

AI is found everywhere in our digital lives. Artificial intelligence is transforming the way we live, work and to do business in this century. The adoption of AI is resulting in a world which is smarter and innovative. The incredible speed with which AI is entering every sector is compelling many companies to become an AI company. IDC predicted that worldwide spending on cognitive and Artificial Intelligence system would reach $77.6B by 2022. Gartner projects the business value created by AI at $3.9T by 2022.

In this blog, we are going to look at the significant industries that can be benefited by the AI applications soon.

• Transportation – We will see more self-driving cars replacing manual driving cars in the future which will make driving safer, bring down the accidents rate incredibly and by reducing traffic will make transportation accessible to all.
• Education– Adoption of AI in education is transforming the way we learn and teach. There are many benefits of AI for students such as 24/7 access of learning, better engagement, less pressure and more enthusiasm to study. AI can also help teachers by marking papers and correcting questions which make them free from many difficult activities and concentrate on other important task.
• Health Care– AI is currently being applied for a wide range of healthcare services. AI has potential to assist healthcare providers in many aspects of patient care and administrative processes. AI utilizes a web database allowing doctors and practitioners to access through thousand of diagnostics resources. AI Machine learning provides more targeted diagnostics. In the future AI will have a significant role in preventive medicine. The possibilities are exciting and endless.
• Banking– Banks can achieve operational and cost efficiencies as AI can customize financial products and services which enhance customer service. Intelligent software robots are processing loan applications in fraction of time. AI can empower banks by automating its knowledge which can prevent cyber risks. Another important application of AI in finance sector is fraud detection and money laundering.
• Retail and E-Commerce– The use of AI in online shopping is changing e-commerce industry immensely, playing a vital role in driving innovative solutions and customer experience. AI application for E-Commerce such as chatbots and virtual assistant is dominating the industry today by working in the area of personalized shopping, product recommendations and inventory management.
• Manufacturing– With the evolution of industrial automation, Manufacturing has also been impacted by AI. AI offer various benefits such as enhanced production efficiency and most important newer opportunities. We are observing an increase in Human- Robot collaborations at manufacturing facilities predicting technological advancement.

Conclusion:

AI  has become a game changer and soon it will have a drastic effect on many other major industries too.

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