Artificial Intelligence is Revolutionizing Major Industries

Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs and perform human-like tasks. Most AI examples that you hear about today – from chess-playing computers to self-driving cars – rely heavily on deep learning and natural language processing. Reactive Machines, Limited Memory, Theory of Mind, Self Aware; are 4 Types of Artificial Intelligence.

Artificial Intelligence (AI) is a catch-all term that refers to the simulation of human intelligence in machines, which results in traits like learning and problem-solving. On hearing these words, fans of science fiction might bring to mind images of intelligent robots intent on overthrowing or, at the very least, subjugating the human race. However, AI is a lot more varied and common than you might think. If you’ve experienced asking Siri to search for something online or used Google maps to make your way around a new place, then you’ve experienced just some of the benefits of artificial intelligence.

As technology becomes even more sophisticated, things which we once believed impossible are starting to become a reality. We owe a lot of this innovative progress to artificial intelligence and the brilliant people behind their programming. With such a powerful tool at their fingertips, many industries are continuously being revolutionized. As an example, here are a few of AI’s applications to some of our major industries.

AI and Healthcare
Through studying and learning from large sets of data found in electronic health records, AI is able to expand physicians’ knowledge of similar symptomatic origins among numerous patients, even for rare diseases. AI is also able to speedily and thoroughly review medical literature and extract information about how the combination of certain types of drugs impacts the wellbeing of a patient who takes them together. This is a field in which the vast majority of us benefit greatly from any innovations. Therefore, it is wonderful to discover that AI has helped the medical field in better diagnosing diseases and in predicting possible complications from taking multiple medications simultaneously.

AI and The Automotive Industry
AI can be credited with changing not just what a vehicle can do, but also how it is made. AI has been utilized to alert drivers to dangerous situations and help them avoid accidents through monitoring dozens of sensors. Some companies like Google and Tesla have gone one step further and produced self-driving vehicles, which are constantly learning and improving their navigation systems, AI also protects the workers in manufacturing from injury. For instance, collaborative robots sense what their human counterparts are doing and adjust their movements to avoid injuring the people who work alongside them. Since most of us have driven, ridden in or been near a car at least once in our lives, it is indeed good news to hear that AI helps to make roads and production floors safer for everyone.

AI and Online Games
A pastime which is growing in popularity worldwide is online gaming. Avid gamers will surely thank AI when they find out just how much it contributes to a wonderful gaming experience. On a basic level, AI controls the non-player characters in each game such as enemy bots or even benign characters like helpful townspeople. The AI in some games even assesses a player’s ability and adjusts the level of difficulty accordingly. Most importantly, AI explores the patterns in how people use the game. This then helps developers determine how to improve it further. Whatever the online games platform we use, what is common among all of them is that they have been somehow transformed by AI’s proverbial magic wand.

Those are just some of the positive changes that AI has brought into our lives. And this is only just the beginning. There are many upcoming innovations that we can look forward to. Although artificial intelligence is certainly not without its drawbacks, one thing is abundantly clear: If used in the right way and for the right reasons, it can certainly change the world for the better.

AI and Banking and Financial Services
Artificial Intelligence is the future of banking as it brings the power of advanced data analytics to combat fraudulent transactions and improve compliance. Features such as AI bots, digital payment advisers and biometric fraud detection mechanisms lead to higher quality of services to a wider customer base. AI assistants, such as chatbots, use artificial intelligence to generate personalized financial advice and natural language processing to provide instant, self-help customer service. AI has the potential to super-charge financial services and transforms the way services are delivered to customers. It could allow more informed and tailored products & services, internal process efficiencies, enhanced cybersecurity and reduced risk. Artificial intelligence can help accountants be more productive and efficient. Robotic process automation (RPA) allows machines or AI workers to complete repetitive, time-consuming tasks in business processes such as document analysis and handling that are plentiful in accounting.