Now, it’s not difficult to spot businesses across industries applying AI and ML technologies to streamlines their operations and to stay informed for making better decisions. With the right AI experts and right AI app.development, nearly every industry can reap the benefits of the technology. Here are 10 industries which will soon be revolutionized by AI.
AI and Machine learning have brought in limitless possibilities to the world of manufacturing. Now, these technologies have capabilities to help businesses implement preventive maintenance to timely take care of machinery and equipment, and to avoid any sudden failure or breakdown. Apart from this, AI can facilitate efficiency to work and lessen the chances of errors while holding highest quality standards.
There has been little use of information technology in the construction industry. Even companies developing modern infrastructures haven’t fully utilized the technology and software. Maybe, the typical computing has not provided the desired benefits. But now many construction companies are learning how applying the AI-enabled solutions can advance them. With the capabilities of AI and ML, businesses in this sector make a variety of processes faster, safer, and more cost effective. Also, human caused errors will reduce and, the data will base every decision. Nothing we may expect to go wrong once we have right AI solutions.
Healthcare providers around the world are taking the AI technology quite seriously. AI-powered X-rays, for examples, help doctors pinpoint diseases. AI-enabled neuro-linguistic programming or NLP exhibits its use in drug safety. ML-driven data collection technique gathers information from every possible source and leverages the same for the betterment of human lives. The AI’s subset, Deep Learning (DL), can be used in genetically customizing medicines for an individual genome to have better results. So, AI and its subsets like ML and DL are being used in a number of ways in the healthcare industry. So far limited hospitals or healthcare providers have applied AI, ML, and DL, but as expected and due to the actual worth of these technologies, more will join the pool and bring breakthroughs for the patients
4. Senior Care
At an age, seniors require a lot of care. Thank god, the technology has been well thought for this situation too. There are solutions providing support and confidence to seniors living alone. Of course, for now, AI will not be able to understand seniors’ cultural, physical, and emotions needs, but it can update information in the real time.
5. Mental Health Diagnosis and Treatment
Poor mental health among young people is becoming more prevalent these days. Common factors contributing to increasing cases are device-addiction, withdrawal from the physical world, and starting to isolate online. When this continuous for a long time, it may lead people to collapse of social cohesion. AI can identify people with the risks of depression or hopelessness and recommend for them suitable therapy before they catch these mental conditions.
The basic education providing approaches have not changed much for generations. But it’s obvious that changes are needed; however, it’s also too hard to say what sort of changes should be there and, how a school or college can achieve them. For education, AI can be harnessed to build customized, dynamic, and effective learning approaches for any given subject.
One industry to get the most impact of AI is retail; be it online or offline. According to a report from BusinessWire, the global spending in the retail industry is expected to reach more than $7.4 billion per year by 2020. Many retailers have already started to use the AI technology by blending it with other advanced technologies like AR and VR and coming out with interactive and dynamic advertising approaches. In online retailing, the blend of AI, AR, VR, and IoT can provide visualization of a product before customers buy it. Also, AI and ML technologies powered chatbot will handle 85% of all customer service communication & interactions by 2020.
Enterprises get a hard hit from cyber attacks. Breaches in private data and information put peoples’ live at stake. No doubt, organizations try their best to secure their servers, but typical approaches may fail, particularly when attackers using advanced breach tactics. Many organizations fail even to measure right security measures. But AI comes with the power of complex reasoning and self-learning capabilities that can improve cyber-security to a great extent.
9. Business Intelligence
It’s turning out to be hard of organizations to handle the large volume of data generated by tools and processes that customers use and go through. The traditional business intelligence has shown its inefficiency in doing any good. But AI can take better care of the business intelligence and help businesses smartly manage data and timely get its advantages. AI can be used in designing tools exploring data, finding insights, and making recommendations. These data insights and recommendations minimize an employee’s dependency on others to take a decision. Things can happen automatically with AI.
10. Supply Chain Management
AI can handle supply chain related factors and complicated nonlinear and correlated dependencies of data much better than humans do. AI can predict future without any bias with sufficient assessment of risks and even under asymmetric cost profile. AI solutions for the supply chain industry can smartly manage operations and improve every decision