Before exploring how artificial intelligence advancements are providing various solutions to the business world, Let's see first what it is and how does it work. It is a broad and general term associated with the development of computer software which has the capability to characterize human's diversified abilities such as ability to learn from past experience, to perform tasks associated with intellectual properties and to execute the commands in a more generalized way.
How Different Sectors can be able to use AI?
1. Healthcare sector
This industry has transformed with AI and has endless possibilities where it can help a number of people in such a way that can detect disease with more accuracy, automate diagnostic tests, increase speed & accuracy of treatment and combine different attributes of patients’ medical records to identify the potential treatment plan for the patient. With the advancement of AI in medical, we can also be able to improve drug formulations and DNA analysis that can positively affect the human lives and quality of health care.
All these ways are expected to shape the health care industry more AI advanced in forthcoming years.
2. Automotive Industry
Artificial Intelligence is making important advances in the automotive industry. These include self-driving cars, radars to detect obstacles and pedestrians, intelligent search for free parking spaces and route optimization.
3. Retail & Ecommerce Industry
The augmented and virtual reality feature of AI can be used by retailers to let the customers experience products before buying. However, the investments in AI by the retail industry will be figured out in multiple areas likewise customer service, some suggestions to customers while purchasing, various analytics on the product, etc. It’s predicted that in the near future, chatbots will empower 70% of customer service interactions.
Additionally, when customers visit the website and make some purchases, chatbots will be able to capture the reactions of them which will help to improve the conversation ratio and personalize the customer experience which increases the sales.
As we’re advancing in the new era in the educational industry, it turns out to be quite obvious that the change is expected to make their fundamental ideas clear. We can leverage artificial intelligence to create a dynamic, tailored and viable learning way that can be adaptable for such a revolution.
5. Agriculture Sector
As the fewer people dominating the farming sector, most farmers are facing the shortage of manpower. Generally, the farms have required numerous labourers to harvest crops and keep farms advantageous.
AI in the agriculture sector can help to tackle the labor challenge with the advancement of AI agriculture bots. These bots enhance the human workforce and can be used in various ways. These bots can be able to reap the crops at a higher volume with faster pace and more accuracy.
6. Banking and Finance Sector
The automation bots, automatic learning, and adaptive intelligence will be a major part of financial sectors to make processes such as digitization, auditing and customer services reliable and productive.
AI in the manufacturing sector can be set up in such a way that will produce more efficient work that’s less prone to error and has higher quality.
8. Tourism Sector
Many AI-based solutions are already being utilized in the travel industry segment. The adoption of Chatbots to provide information and relevant assistance to travelers is the most widely recognized AI solution currently in use. In the near future, other required tools will develop which will make traveling experience totally personalized.
As we have seen the different sectors to get transformed with the revolution of artificial intelligence in the near future. That could redefine industries by automating processes and disrupting how business work. There is an enormous opportunity for AI to add the efficiency in human capabilities and characteristics that would impact the different sectors beneficially.