Benefits of Artificial Intelligence Applications in Different Fields
In today’s Tech-savvy world, the usage of artificial intelligence applications is increasing, leading towards the phenomenal transformation of our everyday life. In order to stay relevant in the market and to leverage the latest AI technologies, almost every sector has embraced AI applications starting from Healthcare, Finance, Manufacturing along with many various industries. The most expected industries to use AI was that based on science, healthcare, and robotics, nonetheless, industries that have long-distance from computer science and AI are also being benefitted from the new innovations of AI. Artificial intelligence has provided better productivity, reduced cost, and improved rate of customer satisfaction. This emerging transformation has certainly redefined the formulas of the working world.
Over the past few years, artificial intelligence has indeed come a long way, enhancing the quality of human life. AI has become an integral part of our daily lives as our homes are filled with smart technologies introducing greater efficiency and more comfort, saving us time, money, and energy along with providing excellent of services. Not just our routine life, but AI has evolved business processes by streamlining operations and decision-making power.
Below are some of the most influenced sectors by AI.
1. Education and Training
The delivery and presentation of
educational content are dramatically changing with the usage of AI applications
and it is also enhancing the impression of the course on students’ minds. For example, using a VR headset to visualize the core idea of written text.
Moreover, students’ learning patterns can be recorded and analyzed by ML
algorithms resulting in suggestions to improve the grasping power and learning
activity. By tracking the performance of students their growth graphs can be
generated and send it to their parents by email with the help of the latest AI
applications. Many classrooms have been implementing small, tactile robots for
students to interact with as a form of teaching assistant or tutor. Often,
these AI-fueled bots help younger students with reading, language learning, and
social interactions. Additionally, AI helping young children develop essential
social skills, robot's assistance to children with disabilities is becoming the new
reality. With plethora of applications powered by AI is helping both students and
institutions to facilitate their activities and achieve excellence in their
practice. AI tutors is another option which is providing a big room for
students to higher their graph of learning by following these tutors powered by
AI.
2. Manufacturing
As manufacturing the industry is the heart of the Indian economy, embracing AI applications has emerged many
surprising innovations leading towards a sustainable economy. On a larger scale, it has automated many trivial activities performed by humans in factories,
speeding up the production rate with minimal defects. The technology will have
an impending to grow in production by 40% by 2035. Some of the obvious and
general benefits of AI are: enormous production, data-driven decisions,
facilitate enhanced quality production, smart process effectiveness, and
optimized operational costs along with extended scalability and excellent
product development. Algorithms of AI can help with quality control as
it detects anomalies with more accuracy compared to that of human beings. Plus,
it performs visual inspection throughout the day, which could be a difficult
manual task. Self-learning machines can
automate most of the parts of manufacturing resulting in better management of
challenges.
The
cases of robot used for the factory is increasing day by day and investment in an industrial robot is likely to go up by 10% each year. Nevertheless, some companies at this point in
time dealing with the issues like poor coordination, planning, and time
management. Besides this, AI algorithms are also influencing the supply chain
management by detecting the tendencies of demand which, in return, supports
companies in planning and inventory, raw material storage, staffing, energy
consumption, budget management, and equipment maintenance.
3. Healthcare
The Healthcare sector is
among some of the earliest adopters of AI technologies. AI in healthcare has a wide range of
applications and it has been evolving the industry by providing improvised
healthcare solutions. The combination of AI and the Internet of Medical Things
(IoMT) are making healthcare professionals efficient before than ever. AI
supports in early detection of disease, quick diagnosis, improved research
methods, and accurate training. One of the simplest examples of AI in the health
sector is software supporting the common man for proactive management of a healthy
lifestyle.
The appliance of AI in healthcare, apart from the above-mentioned benefits, supports in managing medical records, analyzing
tests, advanced X-ray reports, CT scans, optimized data entry, better
treatment strategies, and virtual assistance to doctors. One such instance is
Electronic Healthcare Report, where, reports are being stored in cloud storage
for easy future access to both patient and doctor. AI has helped all levels of medical
professionals starting from nurses to specialized surgeons of the hospitals.
For an instance, robots are assisting surgeons for higher accuracy, minimal
risk of infection, reduced blood loss and pain as well as the shorter time span of
hospital stay and quicker recovery times.
4. Retail and E- commerce
AI has changed the
industry tendencies of retail to a large extent in the last few years. As the
effective implementation of retail relies on the supporting industries like
manufacturing, CRM, and supply chain management, it has yet not leveraged the maximum potential of the AI appliances. E-commerce receives maximum benefits in
terms of better stock and inventory management, sales predictions supported by
ML algorithms and optimization of huge volume customer information including
tracking their behavior patterns and the prospect of buying a particular product.
Additionally, ML tools show better suggestions to clients based on their
tendencies, resulting in higher sales closing. Other than that, clients get
reminders of their saved products, lowering the chances of cart
abandonment. With the support of chatbot
assistance, by asking about queries, the customer gets all information needed to be based on the NLP tool of AI.
5. Marketing
The marketing industry is
very crucial as it is responsible for the excellence and optimized presentation
of the product. Marketing is multi-dimensional and consists of a wide range of
activities that can leverage AI to its maximum potential. Compared to A/B
testing, where businesses have to experiment with different variants, Google’s
Responsive Search Ads can be applied to get the desirable results. Google AdWords will show various combinations
en masse, supporting marketers to optimize headline-description combinations
and wider reach for potential customers. Additionally, in data analytics, all data
of potential customers can be recorded, managed, and analyzed well, transforming
simple data into huge business success. This data is generally gathered from
email lists, site visitors and registration for campaigns lead by companies.
6. Human Resource Department
With the advancing time, the HR sector also has started using
AI-based applications to develop their business to the next level. AI benefits the HR
sector in many ways and one such is by cutting down man capital without losing
the efficiency and growth of the company. AI-based ML algorithms filter
candidates on various parameters like skills, experience, credentials,
educational background, salary expectations, and location preference leading
towards the more feasible process for both employee and employer.
7. Food processing sector
AI technologies have
reached where we have expected it least. One such example is of the food
processing industry. AI tools are capable of making smart storage for food
managing the inside weather and lighting to make food last longer. Plus, it can
also measure the various parameters of food, like size, color, shape, the quantity
of fat, and other essential elements for particular foods resulting in perfect
food with higher quality. Besides food processing, even in agriculture, AI
technologies are helping in gauging the effects of different parameters like
sunlight, environment, water, soil, and fertilizer by collecting data from
sensors and analyzing it. Moreover, the usage of intelligent tractors and smart
plucking machines is increasing. AI-based Data-driven decisions lead to better outcomes, empowering the sector, contributing to the larger picture of the nation’s economy.
8. Construction
Though the adoption of AI technologies
into one of the oldest industries, construction, is limited, it has shown a
good potential of transforming industry like the latest one. AI tools such as
Augmented Reality, Data analytics, and Machine learning are pushing the industry
towards advancement. Such technologies help in better planning of the project
stages as well as post construction management. For example, using AR
supports in detecting clashes before actual works get started or semi-robotic
equipment can move the heavy good from one place to another, eliminating the
cost of heavy labor. Moreover, ML algorithms can predict the completion of the project by analyzing the current speed of work while providing solutions for
improving work efficiency along with a higher work pace.
9. Supply chain management
Supply chain management is another sector
where AI has shown the possibility to make improvements by helping with streamlined
procurement, augmentation, supply chain planning, warehouse management,
logistics, and shipping. The future of the supply chain management industry
lies with the implementation of AI.
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