Artificial Intelligence has the potential to disrupt any industry.
According to 2018 Global AI Market Report, its market is anticipated to reach $190.6 Billion by 2025 from USD 21.46 Billion of this year. The way I see Artificial Intelligence in simple language is that we first develop its understanding and educate it, then with the help of that data, it integrates and then answers our problems. It continues to learn and add more to its intelligence. The human race has benefited a lot with its Artificial Intelligence.
So, let’s discuss the five fields that have been the best for AI in these years and is steadily thriving.
Healthcare: Artificial Intelligence is helping researchers in better drug creation for diseases like cancer with minimum effort and time. With Improved Medical Diagnostics to data mining, it’s gaining some notable highlights in Medical Sector. It further assists physicians in surgery and helps keep track of their patients with their full analysis in no time. Major tech giants like Google, Apple Uber, and Microsoft are turning towards Artificial Intelligence. There are many more companies that are abruptly doing pretty great work in this field using AI. The Biopharma company, NuMedii build the technology of AIID, i.e., Artificial Intelligence for Drug Discovery. NuMedii gears up Big Data and Artificial Intelligence to quickly uncover correct integrations of drugs and diseases at a systems level.
We further discussed AI’s influence on Healthcare in our previous blog 5 Ways How AI is Transforming Healthcare Industry.
Automotive: Various Companies are studying on Artificial Intelligence to make roads safer. AI is being applied to create autonomous vehicles (such as drones and self-driving cars). Google, Tesla and Apple are utilising AI with over 30 other companies. We saw the first successful driverless vehicle in the Grand Darpa (Defense Advanced Research Projects Agency) Challenge a prize contest for American autonomous vehicles. It was to find a proper technology for driverless military vehicles. Waymo, which began as The Google Self driving car project, started testing self-driving cars in 2009.
In 2015, The Project launched its one of the super-cute vehicle it ever made; Firefly. It was meant as a platform to experiment and learn, not for mass production. Firefly could take a fully autonomous drive with a person inside without a steering wheel and pedals, and no backup. Its top speed was 25 mph.
Later, in 2016 The Google Driverless Car became Waymo; an autonomous car development company announced as a subsidiary of Alphabet Inc., Google’s parent company.
In 2018 Waymo partnered up with Jaguar Building 20,000 self-driving Jaguar I-PACEs. It is the world’s first electric self-driving vehicle. They are going to test these vehicles. They are going to add up to 20,000 I-PACEs to Waymo’s fleet in the next few years.
According to Juniper Research’s new report, which predicts that one in four new vehicles sold in the US will be driverless by 2026, representing five million sales that year.
Gaming: First used in Chess and Checkers, electronic games continued to use AI with the aim of predicting its next move. The development and integration of AI and its investors are continuing to increase. Most importantly, the graph is scaling up in favour of Artificial Intelligence with the introduction of AR and VR such as the Oculus Go launch recently. It includes over 1000 VR games and Netflix and other VR Classics to choose from. A game uses AI/heuristic algorithms in a wide range of quite disparate fields inside its system.
Cloud Services: AI is capable of streamlining the vast potential of the cloud. It enables the devices to act, react, think and learn in the way human beings do. AI machines learn and analyse all the past data and information available, identify the pattern and helps in making decisions. Thus eradicates human errors. Its process is more straightforward to secure, store, scale and handle Cloud Computing with AI assistance. Its implementation is increasing so vigorously that there will be a time when Artificial Intelligence will assist the Cloud in its every aspect.
Companies like Oracle, regarding its SaaS, is now embedding Artificial Intelligence capabilities. It is to understand user behaviour and optimises the access to feature functionalities. Many AI chatbots are trending on a high scale nowadays. Microsoft’s Cortana, Amazon’s Echo which assists personally with the name Alexa and artificial assistant, Siri, designed by Apple Inc. and Google Assistant designed to understand your queries.
HR Recruiting and Marketing: 56% say their hiring volume is going to go up this year, but 66% of hiring teams will either have the same size or contract, as per a survey of talent acquisition leaders. There are Virtual Assistants like Ideal that uses AI to help with the recruiting job. It is a recently emerging category of HR technology designed to eliminate or reduce time-consuming activities like screening resumes, sourcing and shortlisting applicants and other monotonous tasks. There is HR preselection software that uses data and predictive analytics. It helps in optimising the time and reduce biases in the HR department with better hiring skills.
Automation with clearly defined sets of inputs and outputs and tasks is very significant in marketing. AI helps in decision-making by extracting data from diversified sources into much meaningful, and better insights. Search engines like Google use a great of AI for assistance in searches, tracking and identifying. There are various no. of chatbots and voice apps powered by AI. It optimises the time to schedule and run advertisements and assists in predictions and conversions. It further aids in better processing for CRM, Data Cleansing, Leads scoring, Dynamic Pricing, Web and App personalisation, Re-targeting, Smart content creation, Process Reminders, Sales Enablement
However, these are not just it.
AI is also being aggressively experimented further and practised in many other sectors like in Security, Media, Transportation, Finance, Logistics & Distribution, Insurance, Retail and Customer Service and much more. We also use AI as Siri and Alexa at a personal level.
Artificial Intelligence is like an iceberg; it has got a massive set of capabilities and innovation hidden beneath its already surfaced abilities. We further anticipate seeing better AI understanding and an AI rush, globally in the coming future.
You May also like to Read-