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IMPACT OF ARTIFICIAL INTELLIGENCE ON VARIOUS INDUSTRIES

Impact of Artificial Intelligence on industries, Impact of Artificial Intelligence, Impact of AI

IMPACT OF ARTIFICIAL INTELLIGENCE ON VARIOUS INDUSTRIES

Artificial Intelligence is redefining industries by offering personalization, automating processes, and disrupting how we work. In modern times, AI is embraced by every industry from healthcare to government. Here are the 11 industries wherever Artificial Intelligence has made a disruption.

Agriculture

The most popular applications of AI in agriculture range from robotics to crop and soil monitoring to predictive analytics. Agriculture majors are developing autonomous robots programmed to handle routine agricultural tasks such as crop harvesting at a higher volume of human laborer’s. AI is deployed in crop and soil monitoring deploying computer vision and deep learning algorithms to process data captured by drones and/or software-based
technology to monitor crop and soil health. Predictive Analytics-driven by machine learning models is being developed to track and predict the impact on crop yield faced by erratic weather changes.

Call Centres

Call centers are witnessing a revolutionary change in the industry with the development of bots and automated messaging, which is often thought to be one of the industries which are at most risk of becoming obsolete in a world of AI. Call centers are an important link between businesses and customers for customer service and product offerings. AI software has been developed to listen to calls and analyze their impact on customer’s buying behavior and shopping experience. Automated calls driven by bots and chatbots may lead to an increase in customer’s loyalty in the future and they may even be programmed to smooth the situation if the customer gets upset.

Energy & Mining

AI can be deployed into smart electric grids to make them more efficient in delivering energy, and to predict when batteries and other equipment will fail. AI implementation will make energy exploration an easier and more economical task. AI and its subsets, machine
learning, are trends which will disrupt the energy industry, leaving massive opportunities for savings. Business majors like the General Electric are looking ahead to use AI to optimize how electricity flows out of batteries and points of consumption. According to Bloomberg News reports, AI tech into energy and mining could eventually save $200 billion globally.

Healthcare

Healthcare is a sector where AI has endless possibilities, from user-friendly bots and chatbots assisting patients in their health diagnosis to robots performing operations with precision. Artificial Intelligence is currently applied in the healthcare industry to identify high-risk patient groups, predict diseases, and improves speed and efficiency of treatment and to automate diagnostic analyses. Artificial Intelligence has a large potential to develop drug formulations, predictive care, also DNA analysis that has the power to confidently impact the quality of healthcare and affect human lives.

Intellectual Property

In the global innovation economy driven by AI and allied technologies, demand for intellectual property (IP) titles, patents, trademarks, industrial designs; copyright is rapidly increasing and becoming more complex. AI, big data analytics and new technologies such as blockchain have huge potential to address the growing challenges facing IP offices. Copyright is an important IP asset for AI; AI protects the technology product (code and data) from unauthorized use and reproduction through digital locks. An IP strategy for AI systems will layer IP rights to protect different aspects of information and business enterprises can clearly define and protect their IP with registrations and digital documentation.

IT Service Management

AI technology when put into utilization by corporate and government networks will be a dominant feature of IT service management (ITSM) in the future. AI will improve technology utilization in homes and in the workplace. AI technology will cause a disrupting change in ITSM offerings in three key areas of Point of Entry (incident/request creation), automated backend processes and knowledge management. AI will impact the IT Service Management
Industry in the years to come predominantly due to the resolution of recurring losses, self-service for low tier incidents, improved organization & optimization and instant information like meeting schedules through personal assistants.

Manufacturing

AI is increasingly been deployed in the manufacturing sector including vehicle manufacturers for automation and optimization of assembly lines. Many industries employing complex knowledge requirements like the pharmacy and the healthcare sector are vigorously planning and testing AI technologies to focus on augmenting decision-making. Medical data and research are being integrated with AI to inform the practitioner’s diagnosis and treatment recommendations.

Technical Support

The service industry will experience most of the AI adoption throughout 2018 with the integration of AI-powered voice assistants and chatbots. AI-powered voice assistants are answering uncomplicated queries routed to the service helpdesk, like answering about working hours, or determining when an engineer is due to arrive. A bot powered by AI drives the significant potential for companies to attach voice representatives to enterprise software including capabilities such as self-service diagnostics or scheduling optimization generators, to automatically offer appointment slots.

Retail

AI-Powered chatbots are assisting retailers to increase the amount of data they can collect about the customer, and edging them towards a competitive advantage over the non-adopters of AI technologies. Chatbots collect immense data through digital requests from shopping users who use technology to navigate websites and to make purchases. In the future, chatbots in retail will be able to improve conversation capabilities, capture audible reactions and eventually provide intelligent data and analytics to the retailer by capturing emotions and mood of their customers to predict emotional responses to their online experience. This will empower retailers to offer personalized customer experiences to enhance customer loyalty in the near future.

Transport

The transportation domain uses AI in mission-critical tasks which include autonomous self- driving buses carrying passengers in Finland, Singapore and China, Autonomous trucks in San Francisco and railway cargo transportation. Significant challenges in the transportation industry like safety, reliability, capacity problems, environmental pollution, and energy radiations are providing immense opportunity and a potential for high ROI for AI innovation.

Software Development

Artificial Intelligence enhances the potential to modify the whole software development wherever Artificial Intelligence support with everything from modeling new applications with the right architecture and user experiences to analyzing the business value and impact for the organization. Incorporation of AI technologies like advanced machine learning, deep learning, and natural language processing, also business rules will have an impact on all steps of the software development life circle, and supporting developers build reliable software faster.

Conclusion

Artificial intelligence will play an influential role in pretty much all aspects of technology in the coming year and for many years to come. It’s a pretty exciting time to be an innovator or developer when you consider the fact that your AI-enhanced solution may one day cure cancer or bring about world peace.

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Sreenivas Godlindla

Sreenivas Godlindla is a digital marketer and technical writer for Mobile Application Development Company in Ahmedabad. He has written on various topics including content marketing and technology. His articles have published in top sites also he has been contributing his article and blogs regularly which includes balanced informative with IT needs.

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