5 Industries Where Artificial Intelligence Can Have An Outsized Impact
Artificial intelligence is here to stay! While human brains once had a monopoly on the ability to process parallel pieces of information, computers are rapidly matching this capacity. As this new form of intelligence grows more powerful and affordable, it is likely to impact every part of our lives. It will have an especially strong effect on the way we do business, given that AI applications provide a way to mimic human skills at a fraction of the cost.
While all types of business will eventually be affected by artificial intelligence, the technology is likely to have a particularly early and robust impact on specific industries. By paying attention to these industries, we can gain a glimpse of the challenges that come with adopting this technology, as well as the possibilities that it opens up once it is in place. It is thus essential to consider the fields where AI will exert the greatest effects, namely:
Healthcare
One of the greatest challenges of modern medical care is a shortage of skilled professionals. To treat patients effectively, doctors and nurses must have a comprehensive understanding of their medical histories, health status, allergies, and other key details. But because there are so few doctors and nurses compared to the total number of patients, it’s hard for them to take the time to learn this information. As a result, medical professionals make many mistakes, some of them fatal, that could have been prevented with better information.
AI applications help fill this information gap. By mimicking the way humans process information, these devices can interact with patients in more complex ways, getting all the health data they need to diagnose the disease and find an effective treatment. Artificial intelligence can also look at the big picture, processing data on a larger scale than ever before to find new treatments and preventative measures for common diseases. Through these and other activities, this technology has the potential to save thousands of lives all over the world.
Marketing
Like healthcare, marketing depends on personalized interactions with clients. The more that marketers tailor their content to the specific people they’re selling to, the easier it is to convince those people to buy. But given that marketers are often addressing thousands or even millions of people at once, tailoring their content to each individual is nigh impossible.
AI can tailor marketing efforts far more effectively than humans can. Through emails, social media, and other platforms, AI applications can write personalized messages to each individual they’re trying to reach. They can also study the interests of prospective customers, targeting them with specific ads and other content that relates directly to those interests. In this way, companies can show thousands or even millions of customers that they care about them as individuals and are committed to meeting their specific needs.
Scientific Research & Applications
Scientists, doctors, engineers, pharmacists, and other scientific professionals rely on scientific data every day. Some need this data to conduct further research, while others depend on the results of past research to do their work. But in both cases, they suffer from a problem of information overload. It’s incredibly difficult to find specific information out of reams of scientific data, and the issue is getting worse each year.
AI offers a solution to this deluge of data. Because they can understand and mimic the way that humans use language, AI applications can be used to build advanced search engines. These engines know how to identify specific terms and phrases that traditional search tools would have trouble distinguishing. As a result, scientists and other professionals can put any amount of data to good use, allowing them to learn more about the natural world and apply that knowledge with ease.
Finance
Banks and other financial companies have always had to worry about fraud and theft, and these problems have only grown more difficult to deal with since the rise of the Internet. To detect fraud, companies often have to use heuristics. For example, if a bank detects that someone has withdrawn a few cents from an account, that suggests that a thief has broken into the account and is testing to see if they can withdraw money undetected. The problem is that many financial security systems are automated, and traditional computers have trouble looking out for subtle signs like this.
AI will vastly improve the ability to detect and stop fraud and theft. With the aid of parallel processing technology, AI applications can analyze the relationship between financial risks and consumer behaviors. They can then identify even the subtlest signs of fraud and theft, allowing them to keep customers and assets safe for the long haul.
Transportation
For a long time, driverless cars looked completely impractical. Because they lacked the parallel processing abilities of the human brain, computer programs couldn’t reliably judge how safe roads were from their topography. Driverless cars could only work if they had access to highly detailed topographical maps, which were difficult and expensive to make.
Artificial intelligence is changing this picture. Not only can AI applications monitor the road as effectively as people can, but because they don’t get tired, drunk, or distracted, they’re becoming far safer than human drivers. It might not be long before it’s illegal to use a car that isn’t driverless!
Imaginea Ai strongly believes in the potential of artificial intelligence. We’re doing everything in our power to make this technology affordable and effective, notably by creating a market for AI services and developing effective ways to construct AI datasets. For more information on this technology or to participate in our Security Token Offering, visit Imaginea.Ai today.
Originally published at imaginea.ai on May 23, 2018.
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