Technology

What is The Purpose of Artificial Intelligence

AI can be used by companies to develop in two ways. (a) Machine learning integration into their items & services. (b) Using data analysis to improve their internal processes and customer experience. AI technologies offer an uncommon business approach that increases speed, enhances performance, and at the same time reduces costs. Here are some industries that are currently harnessing AI’s power:

1. AI in Healthcare

Across industries, applications are increasingly using machine learning as well as artificial Intelligence. AI is being used in the collection and storage of data where the data can be analyzed in seconds. The health sector is not an exception. With the complexity and rise of data in various health centres. Artificial Intelligence is being used in the analysis of data gathered from patients to provide doctors with useful information that can be used for diagnosis and treatment purposes. AI improves reliability and predictability within the health sector by enhancing quality health standards.

2. Artificial Intelligence in Business

Robotic process automation is generally applied to repetitive tasks that humans do.

Machine learning algorithms integrated into analytics and CRM (Customer Relationship Management) platforms.

Chatbots are already included in websites and e-companies to provide instant service to customers.

Workplace automation has become a hotbed of debate among educators and IT consultants.

3. Artificial Intelligence in Education

It is being used to enhance the educational system. With e-books, it is much easier to understand and read course content. Facial recognition technology is being used to analyze the behaviour of students in a class and to enhance security across the premises of educational institutes.

It is quite obvious that AI is doing wonders in our daily life. it has bought a lot of ease and stability in many ways which were not possible in our ancestor’s age.

4. Consumer Brands:

Throughout the entire product and service cycle, from manufacturing to post-sale communications, AI is implemented. By optimizing operations while also growing brand loyalty through customer engagement opportunities, AI technologies will minimize costs. AI technologies allow businesses with highly structured webshops, smart in-store technologies, and online chatbots to enhance the shopping experience.

5. Cybersecurity :

One of the major limitations of being a human being is our bodies and brains. Researcher Shimon Whitson said in the future, we will be able to improve ourselves with computers and build our own natural capabilities. A lot of these cyborg enhancements are being added for the sake of convenience, and for some more practical purpose. Yoky Matsuka of Nest believes that AI is useful for people with broken limbs because the brain communicates with the robotic limb and gives the patient more control. His type of cyborg technology significantly reduces the limitations of dealing with everyday amputees.

6. Transportation – Self Driving Cars

AI is expected to provide safe, reliable and efficient transportation which even minimizes the effect on communities and the environment. It also means having fewer road accidents as they are programmed to focus on safety rather than human drivers.

7. Customer support and Problem resolution

It is really sad and greatly impersonates under AI representatives but it is also important to know that AI assistance and chatbox both are different. A typical chatbot is a preprogrammed functionality that is eligible for answering questions that are planned and programmed as per the user journey. Whereas AI representatives have the capability to increase customer interactions and helps the business to connect to the customers in a more extensive way.

AI is helping businesses enhance and continuously improve the customer experience when there are questions from customers other than common questions. Also, it handles the demands which are under the extent of capacity for AI representative.

8. AI for robotics

AI for robotics solves the challenges of taking care of an ageing population and allows for greater independence.

This can drastically reduce, reduce traffic accidents and fatalities, and enable disaster response to dangerous situations such as the nuclear meltdown at the Fukushima power plant.

9. Accounting and Finance

Artificial Intelligence provides a competitive edge in the banking and finance sector. Many organizations are benefiting through the reduction of costs and providing real-time status of financial matters. Traditionally finance experts had to carry out repetitive tasks while in their line of duty, unlike today where AI reduces their workload by automating tasks. Additionally, with the use of AI ML training in accounting, errors are reduced, and operations are carried out efficiently with minimal time.

10. Entertainment

A familiar application of AI in everyday life is seen with services like Amazon or Netflix wherein ML algorithms analyze the user’s activity and compare it with that of other users to determine which shoo ducts to recommend. The algorithms are becoming innovating with time—to the extent of that, it can understand whether a user is buying a product for herself/himself or for anyone else as a gift, or that different family members have different watching preferences.

11. Banking

It is a well-known fact that finances are rather a sensitive subject with way too many things that require laser-sharp focus and extreme sickliness. Prediction and Stock analysis requires a lot of calculation as it is very complicated that often get confusing and tangled due to the use of human factor. This can be done by AI easily without lather.

Another potential field for AI is customer support. As Artificial Intelligence is becoming more and more apt in dealing with large quantities of information — banks can go to the next level and provide better, smoother, seamless customer support. Everything from simple clarification and process notifications to the full-on support regarding financial transactions can be handled by AI with access to the database

12. Computer Programming: 

Computer scientists have created AI programs capable of writing their own code. AI researchers have created many tools to solve difficult problems.

13. Smart Reply:

Smart Reply will automatically suggest short replies for incoming messages. Google’s Inbox launches ‘Smart Reply’ to suggest smart message replies automatically using AI

14. Banking Fraud Detection

From extensive data consisting of deceitful and non-deceitful transactions, the AI learns to predict if a new transaction is deceiving or not.

15. Text-grammar verification and word analysis

Now, this is the latest case of the usage of Artificial Intelligence but something that we have been aware of for a long time but may have somewhat failed to recognize. In text-editing tools like Microsoft Word and Google Docs off late, the recognition of grammatical and spelling errors can also be attributed to Artificial Intelligence and was one of the earliest examples of Artificial Intelligence.

16. Social Sites:

Now even Facebook is analyzing what features and services are needed to be added to analyze the way people communicate so that wants to analyze the way people are communicating with one another so that it can add new features to its services or even instinctively remove offensive posts that might occur when a high-profile celebrity.

17. Commercial Flights Use an AI Autopilot

AI autopilots in commercial airlines is a surprisingly early use of AI technology that dates as far back as 1914, depending on how loosely you define autopilot. According to a report by New York, it says that the take-off and landing of planes only require the involvement of human resources which is on an average of seven minutes only.

18. Big Data analysis

Decision-making is one of the most important processes which are part of every business operation. As we said before, AI has a great impact on this process.

Just one error in this process and a company can witness heavy losses and we have all witnessed situations like these. Of course, we all know that in order to make a good decision for your business, you have to analyze data. However, in these modern times, this data is huge and it takes many hours to finish a process like this. Therefore, it is crucial to take a course on Artificial Intelligence from Great Learning and leapfrog your career.

References :

https://hackr.io/blog/ai-applications

https://shuftipro.com/blog/artificial-intelligence-what-is-it-and-why-it-matters/

https://www.mygreatlearning.com/blog/what-is-artificial-intelligence/

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