How Do These Sectors Benefit from Artificial Intelligence?

The term Artificial Intelligence (AI) was coined at the 1956 Dartmouth conference. Interpreted as the Turing Test, it was first proposed in 1950 as a device that uses natural language communication over a teletype to persuade one to believe that it was a human being and not a machine. Artificial General Intelligence (AGI) extends this idea to require machines to do everything humans can, such as understanding images, navigating a robot, recognizing and responding appropriately to facial expressions, differentiating musical genres, and so on.

Artificial Intelligence is a vital technology used by mobile app development companies as can help in overcoming the most difficult issues in various different industries, such as entertainment, education, health, e-commerce, travel, and services. AI and ML technologies have been particularly useful in the healthcare industry as they generate huge amounts of data and empower algorithms to detect patterns quicker than data analysts.

Four major sectors where Artificial Intelligence plays a vital role

1. Healthcare Industry: Machine Learning has been particularly involved in the upgrades and advancements as it churns out massive amounts of data to train with algorithms to detect patterns quicker than human analysts. A few examples that are adapting AI practices to get better results are:

  • NuMedii, a biopharma company, has developed a platform called Artificial Intelligence for Drug Discovery (AIDD) that uses big data and AI to detect the link between diseases and drugs at the systems level.

  • The app called BiliScreen uses a smartphone camera, ML tools, and computer viewing algorithms to detect the rising levels of bilirubin in the sclera (white part) of the human eye, which is used to diagnose people with pancreatic cancer. This cancer has no symptoms, which is why it has one of the oldest cancer cases. GNS Healthcare uses ML algorithms to match patients with the most effective treatments for them.

2. Entertainment: The entertainment industry is widely utilizing AI practices to identify customers’ trends for increasing the customer base for the product. A familiar application of AI in everyday life is seen with services such as Amazon and Netflix, wherein ML algorithms study the users’ activities and compare it with other users’ activities to determine which products to recommend.

Machine learning algorithms are fed with user-centric data based on their purchasing trends. Because of this, with time, algorithms are becoming intelligent to the extent of understanding the customer-focused buying patterns.

3. Finance: Financial services companies use natural language processing tools to analyze the brand sentiment from social platforms. A great example of using Artificial Intelligence is the chatbots that work in natural language and provide bank customers quickly and efficiently by answering common questions and providing the desired information instantly. Fraud detection is another important component of AI operations in the financial sector. For instance, the Mastercard uses Decision Intelligence technology to study several data points to spot fraud transactions, reduce false positives, and improve the accuracy of real-time permission.

4. Manufacturing: Artificial Intelligence has found itself a major player of an application in the manufacturing sector. The trend of automation in manufacturing technologies is quickly escalating. Manufacturers are applying AI-powered analytics to data to enhance product quality, product design, efficiency, and the safety of employees. Nokia, GE, Fanuc, Kuka, Bosch, Microsoft, and NVIDIA, among some of the biggest giants in the industry, have already invested huge amounts of AI in Machine Learning algorithms to improve all parts of the process.

In the future, predictive analytics and Artificial Intelligence will play a more fundamental role in content creation and software. The collection of open source information and AI provides global technological equality and the future of artificial technology in all domains of health, environment, public safety, and security.