This is the most happening topic in the world right now and each and every business is trying to implement Artificial Intelligence in their process in some of the other way.
Well if you are not aware of what AI means, then nothing to worry, it is not rocket science:
AI is defined as :
AI or Artificial Intelligence is nothing but an area of computer science where it gives out an importance to a process where intelligent machines can be built in such a way that they react as like humans.
The process involved in building up smart machines or intelligent machines is to support the decision-making process which is completely analyzed based on the data that is available within an organization. It is the same way humans synthesizing the information and providing an appropriate decision. But in this case, the decision making is done by analyzing tons of data that is gathered.
Using the combination of Artificial Intelligence, Machine learning and deep learning is going to be very useful because they are adding a lot of value to the current process and also providing a thoughtful path for the individuals to move forward.
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Below are the few top 10 reasons where Artificial Intelligence is already in usage and has proven to be more helpful in terms of efficiency and accuracy.
1. Artificial Intelligence in Healthcare industry:
We are now in a digital age where everything could be implemented with the help of technology and Internet. Nowadays we get to see that a doctor can monitor and diagnose a patient from a remote location. This has reduced the necessity of being in person. Image the same way where the patient’s health condition is checked against predefined medications and algorithms prescribing a solution to the doctor. This would be a great success in the entire Healthcare industry.
The current healthcare industry is completely dependant on the doctor’s sole knowledge and no supporting decision-making system is available to advise the treatments or the medication. It is completely coming up from the Doctor’s experience and decision.
Imagine a condition where all the patient vitals and health records are pre-analyzed and a personalized treatment plan is produced for the doctor to review will change the entire treatment process.
2. Artificial Intelligence In Mobile World:
The smartphone nowadays is not only considered as a communication device anymore it can be called as your digital wallet and much more than that, even we can classify them as your personal assistants.
Well, speaking about personal assistants, it is worth mentioning about “Siri”. It is one of the best examples of proper utilization of Artificial Intelligence and Machine learning. So based on your habits and interests “Siri” will be able to answer all your questions and provide valuable suggestions. This is already happening and this is the start of next wave of technology utilization.
We have seen days where mobile devices didn’t have touchscreens and now we are in a digital age where the majority of the devices are touch screens. The next age of mobiles will be working on the voice commands which is nothing but “Siri”.
This change will be huge and it will completely change the way people are using their mobile phones at the moment.
3. Artificial Intelligence in Automobile Industry:
If you are updated with the latest technology happenings then you wouldn’t have missed this at all. The concept of self-driving cars and autopilot features are in the news lately and big players like “Google” and “Tesla” are already in this arena.
Have you ever imagined that you will be traveling in a car which doesn’t need a driver to take you from point A to point B. Well, this is not at all a dream anymore, a lot of test runs have gone through were the concept cars going to hit the road soon. This is definitely going to be the future in the automobile industry. A lot more research and development needs to
happen within this area as we have to consider the safety and security aspect of the passengers.
Well, we have to just wait and watch what is going to happen.
4. Artificial Intelligence in Retail industry:
This is going to be a huge game changer for all the retail companies because if they understand the purchase pattern and the requirements of their customers, they will definitely have to tailor their process to be the market leader. The Artificial Intelligence concept comes into the picture when the buying patterns are analyzed and understands the needs of the customer.
The retail industry can gain huge profits by properly analyzing the customer needs vs buying the pattern and based on the consumption if the system could suggest:
* Relevant coupons
* Promote discounted offerings
* Targeted marketing
* Stocking the warehouses etc.
All of these subprocesses with definitely be improved and to be honest it will help the customer a lot.
As of now, we are going towards a clash where the businesses are legally obligated that they are invading an individual privacy by closely evaluating their buying pattern and the products that they buy.
In certain parts of the world, Amazon has started an offer called “Pantry” where they can select few products as essentials and they are automatically delivered to you on a periodic basis. Well, this is a perfect example for introducing the Artificial Intelligence into the process where a better operational and stocking activities are carried out.
5. Artificial Intelligence in Fraud Detection:
The fraud detection activity monitoring systems are actually a boom to the human kind where their money is protected by evaluating the transactions that they make.
Have you ever received an email or a text message from your bank confirming the recent transaction activity was actually made by you or was it someone else who got hold of your card. Well, most of this transaction monitoring is carried out by the fraud detection team which is powered by AI.
The transaction patterns of the individual, the usual withdrawal amount from the ATM and the frequency of the account logins. All of this data is stored and analyzed for suspicious activity. For example: if you have never used your ATM card for years and all of a sudden you have started withdrawing money from your card then this would be definitely flagged as a fraud alert by the system.
So the AI algorithms are developed by considering different scenarios and situations which will ultimately alert the users to be cautious about their belongings. The same technique can be expanded and further used in other industries as well.
