“Artificial intelligence is here and being rapidly commercialized, with new applications being created not just for manufacturing but also for energy, healthcare, and oil and gas. This will change how we all do business.”
–Joe Kaeser
The entire tech world is debating about the consequences of artificial intelligence and the part AI is going to play in shaping our future. We see people out there debating all the time on whether Artificial Intelligence is good or bad for our future, how will it impact our lives?, is it really safe to be dependent on any technology so much? and so on. Well according to my point of view, it is us, humans who make any technology good or bad, we are the ones who decide what role it will play in our lives and thankfully everything right now is all good with Artificial Intelligence. AI is now heavily involved in our day to day lives and is only making our tasks easier. Artificial Intelligence (AI) which was once just a notion confined to Sci-Fi novels, movies and research papers, is now making a tremendous impact on society.
I hope every one of you is aware of What AI is?, and even if you aren’t don’t worry I will give a brief introduction about AI so that you get a basic understanding and then I will be further discussing about the best real-world applications of AI.
Contents
What is AI?
‘AI’ stands for Artificial Intelligence. Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using rules to reach approximate or definite conclusions) and self-correction.
Hopefully, now you all have a basic understanding of what exactly AI is, so let’s get into discussing the most famous real-world application of AI.
Top Real World Applications of Artificial Intelligence:
1. Artificial Intelligence in Healthcare:
Companies are now applying machine learning to make better and faster diagnoses than humans. Through AI and deep learning, doctors can promptly diagnose cancer, before it’s too late. AI improves reliability, predictability, and consistency with quality and patient safety. One of the widely used healthcare technologies is IBM Watson. It understands natural language processing which is capable of responding to questions asked of it. The system mines patient data and other available data sources to form a report, which it then presents with a confidence scoring schema.
An organization named Cambio Health Care has recently developed a clinical decision support system for stroke prevention that will give the physician a warning whenever there is a patient who is at risk of having a heart stroke.
Another similar example is Coala life which is a company that has its own digitalized device that can diagnose any cardiac diseases.
Similarly, Aifloo is developing a system to keep track of how people are doing in nursing homes, home care, etc and the best thing about AI in healthcare is that there is absolutely no need to develop a new medication. Just by using any existing medication in the right way, you can also save lives.
2. Artificial Intelligence in Banking and Finance:
Many banks are using various applications of artificial intelligence to detect any fraudulent activity and other purposes. A lot of banks have already adopted AI-based systems to provide customer support, detect anomalies and credit card frauds. A recent example of this is the HDFC Bank.
HDFC Bank has developed an AI-based chatbot called EVA (Electronic Virtual Assistant), built by Bengaluru-based Senseforth AI Research.
Also, now ventures have been lately relying on computers and data scientists to determine future patterns in the market. Trading mainly depends on the ability to predict the future accurately.
Machines are great at this because they can crunch a huge amount of data in a short span. Machines can also learn to observe patterns in past data and predict how these patterns might repeat in the future. AI applications collect personal data and provide financial advice.
3. Artificial Intelligence in Education:
AI has already been applied to education systems primarily in some tools that are helping us to develop skills and testing systems. As AI educational solutions continue to mature everyday, the hope is that AI can help in filling needs gaps in learning and teaching thus allowing schools and teachers to do more than ever before. AI can drive efficiency, personalization and streamline admin tasks so as to allow teachers the time and freedom to provide understanding and adaptability—uniquely human capabilities where a machine would struggle. And by leveraging the best attributes of machines and teachers, the vision for AI in education is one where they work together for a better outcome for students. Since the students of today will need to work in a future where AI is the reality, it’s also important that our educational institutions expose students to use and adapt the technology.
Adjusting learning and teaching based on an individual student’s particular needs has been a priority for educators for years now, but with AI allowing a level of differentiation, it is possible for teachers who have to manage 30 students in each class.
4. Artificial Intelligence in Agriculture:
Agriculture is seeing rapid adoption of Artificial Intelligence (AI) and Machine Learning (ML) both in terms of agricultural products and in-field farming techniques. Cognitive computing in particular, is all set to become the most disruptive technology in agriculture services as it can understand, learn, and respond to different situations (based on learning) to increase efficiency. AI can help farmers get more from the land while using resources more sustainably.
Organizations are using automation and robotics to help farmers find more efficient ways to protect their crops from weeds. Currently, even Microsoft is working with 175 farmers in Andhra Pradesh, India to provide advisory AI services for sowing, land, fertilizer and so on. This initiative has already resulted in 30% higher yield per hectare on an average compared to last year.
The most popular uses of AI in the field of agriculture can be divided as:
- Agricultural Robots – Companies are developing and programming autonomous robots to handle essential agricultural tasks such as harvesting crops at a higher volume and faster pace than human laborers.
- Crop and Soil Monitoring – Companies are leveraging computer vision and deep-learning algorithms to process data captured by drones and/or software-based technology to monitor crop and soil health.
- Predictive Analytics – Machine learning models are being developed to track and predict various environmental impacts on crop yield such as weather changes.
5. Artificial Intelligence In Gaming:
Artificial Intelligence has become an integral part of the gaming industry over the past few years. Artificial intelligence in video games is largely used to determine the behavior of non-player characters (NPCs) in games. A lot of AI in game development goes towards defining the way how a computer opponent behaves. Behavior can range from relatively simple patterns in action games all the way to chess programs that can beat champion human players.
Techniques mostly used in AI game programming include decision trees and pathfinding. Some AI opponents in first-person shooter games can even listen and analyze player movements, look for footprints or even take cover when a human opponent fires on them.
DeepMind’s AI-based AlphaGo software, which is known for defeating Lee Sedol, the world champion in the game of GO, is considered to be one of the most significant accomplishment in the field of AI.
6. Artificial Intelligence for Space Exploration:
Artificial intelligence in space exploration is gathering momentum. Space expeditions and new discoveries always require analyzing vast amounts of data chunks. Artificial Intelligence and Machine learning is the best way to handle and process data on this scale.
NASA is already using AI to look for life on other planets, which will be the key for “Mars 2020,” the mission where the Red Planet will be explored more thoroughly. The devices they will be sending better known as rovers, will be able to explore Mars’ terrain at a more detailed level and also reveal the properties of the planet’s elements to determine the possibility of life with more certainty.
“AI is already a game-changer that has made scientific research and exploration much more efficient. We are not just talking about a doubling but about a multiple of ten,” Leopold Summerer, Head of the Advanced Concepts and Studies Office at ESA, said in an interview.
In general, new spacecraft will be capable of being more independent, self-reliant and autonomous.
7. Artificial Intelligence In Human Resource Management:
Artificial Intelligence and Machine learning are going to drastically and irrevocably change how HR Management and recruitment work in every company and this is going to be something to watch for. HR is likely to be one of the first areas of business that will benefit from AI for two simple reasons. Firstly there are tons of top quality data in HR, and secondly, HR is one part of any company that is both essential and yet feels the pressure of time.
Artificial Intelligence will essentially take out all of the “worst” elements of each and every HR professionals job like mundane screening for recruitment, time-consuming paperwork, and annoying data entry and will also deliver powerful tools and insights which are an added bonus to make their work more efficient. HR’s automatic generation of top quality data and the incredible benefits of AI make it one of the first places to experience the 4th industrial revolution.
8. Artificial Intelligence for Marketing:
AI seems to become the “right hand” of marketers and retailers around the world. Of late, SMEs are also adopting some form of AI or machine learning based applications in their sales funnel. Two technologies – machine learning and predictive intelligence – are useful for the sales team to meet the target and deal with the hottest & most qualified leads. The evolution of big data and advanced analytic solutions have made it possible for marketers to build a clearer picture of their target audiences than ever before, and in this hotbed of advancement lies artificial intelligence (AI) marketing.
Core Benefits of Artificial Intelligence Marketing:
- More Intelligent Searches
- Smarter Ads
- Refined Content Delivery
- Relying on Bots
- Continued Learning
9. Artificial Intelligence In E-Commerce:
Shopping online creates rich data footprints regarding the individual preferences, spending habits and preferred channels of individual consumers. Major e-commerce companies have been using advanced technologies like AI or machine learning. AI enables any e-commerce website to recommend products uniquely suited to shoppers and enables people to search for products using conversational language or images, as though they were interacting with a person.
Machine learning helps companies in demand forecasting, product search ranking, product and deals recommendations, merchandising placements, fraud detection, translations and much more.
How AI impacts E-Commerce business:
- Improve customer recommendations with items frequently bought together or bought as an alternative.
- Automate your customer service experience through chatbots to provide more information to your sales team.
- Send automated engagement emails and responses based on customer interactions and information.
- Learn more about your customers and how to market to them with big data analytics and analysis.
- Listen to what people have to say about your brand online to help you respond to comments, reviews, and questions.
Travel is AI’s next big leap, believes Craig Webster, a professor of hospitality management at Ball State University in Muncie, Indiana. Businesses in the travel industry are taking advantage of AI in order to perform a variety of administrative and customer service tasks.
Virtually all our travel choices – window or aisle, higher-floor hotel rooms, vegetarian – everything gets recorded, and more and more of that data will be following us in the real world. “AI algorithms will know the people you usually travel with, how much money you spend on different things, even which Instagram photos you recently liked – the fancy meal in Paris versus relaxing in the Maldives,” says Gilad Berenstein, whose company, Utrip, uses AI to plan highly customized itineraries. “So when you show up at a hotel, they’ll meet you in the lobby with your favorite drink or set the music in your room to your favorite artist – the possibilities are endless.”
Even when apps like Google Maps calculate traffic and construction in order to find the quickest route to your destination, that’s AI at work.
Conclusion:
We see all around us now how AI powers many programs and services that help us do everyday things such as connecting with friends, using an email program, or using a ride-share service and so on. With the rise in AI technologies every day, soon we will depend on AI heavily for our day to day tasks. However, in this list have only included a few fields where AI application can be seen in the real world. I hope you guys enjoyed reading this article.
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