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Industry Landscapes are Changing with Artificial Intelligence

 

Artificial Intelligence (AI) is weaving itself into every aspect of our lives. From the voice assistants on our phones to the self-teaching algorithms on our streaming services, everyone is aware of how AI technology is at work to make our lives easier every day. But while we know places where AI directly interacts with us (eg: gaming and internet ads), it is bringing a change in the core industries that are important to the operations of our society by leaps and bounds as well.

Banking Sector AI

Around 36% of large financial operations in India are investing in Artificial Intelligence and Machine Learning technologies to better facilitate customer service and backend workflow. About 70% are in the planning stages of doing the same. Other than customer service, AI can be crucial to the banking sector for analysis and risk management, eliminating human error through machine driven algorithms. It can also be incorporated into programs that work with fraud detection, wealth management, security and cybersecurity and even customer support and ATM operations.

Artificial Intelligence technologies have become such a glaring need for the banking industry that State Bank of India conducted a hackathon called “Code for Bank” to encourage the development of such for the industry.

Healthcare Treatment AI

Healthcare is also an industry where automation and machine learning are invaluable. One of the biggest projects in the healthcare industry today is one being undertaken by John Hopkins and Microsoft to gather data on ALS. The project, called Answer ALS, is aiming to gather data from patients of the incurable disease and use that data to create treatment paths for patients, later on. Being one of the biggest Artificial Intelligence projects in healthcare today, Answer ALS is just one of the ways AI is impacting the industry.

From formulating medication to designing treatment plans for patients, Artificial Intelligence is impacting every sector of the healthcare industry. In fact, Apollo Hospitals in India have just teamed up with Microsoft India to reveal an AI powered Cardiovascular Disease Risk Score.

Agriculture Harvesting AI

Artificial Intelligence is also impacting the agricultural sector with robotic harvesting equipment as well as sowing equipment. Agriculture is also becoming more efficient with more data being gathered and analyzed with drones that are fitted with precision sensors. The analysis of such data can help farmers enhance their production models and help make larger and safer productions.

Artificial Intelligence is also being utilized for pest and weed control. AI computer vision can now eliminate threats with amazing precision just as well as humans can manually. Machine learning can be implemented to eradicate pests through automated means, leading to safer production at lower long-term costs.

With all the ways that Artificial Intelligence is impacting the world today, it is no wonder that it is a lucrative field of study. There is research being undertaken in every industry, be it entertainment or healthcare, in order to implement AI and machine learning for more automation and better operation in every sector. Making it clear that Artificial Intelligence has place in not only every industry at some point in the future but also in every aspect of our lives.

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