We’re entering an age where many markets are driven by data science and machine learning. A wide variety of industries are already fielding the effects of AI on modern business. Tech-savvy companies have turned AI into an invaluable tool to reach wider and wider markets, but intelligent software is now finding their way into the very heart of many processes.
Here are five industries that are showing signs of transformation through artificial intelligence.
The emergence of online retail has been a benchmark in history, so it’s not surprising that there are many retailers who have made AI part of their business model. Not only has Ai been used to create smart and effective marketing strategies, but they are now used to optimize stock control and pricing.
For retailers that aren’t online, it has been an effective way of pulling data from stores and supply chains. In practice, it means greater logistical performance and optimized supply infrastructure.
“Increasingly, telecommunications companies have recognized that the vast amount of data they gather on a daily basis has an enormous amount of potential insight,” says Jenny Long, a tech writer at Bigassignments and Oxessays. “Along with the ability to use this data to build better business models, they have also begun to use machine learning to optimize internal processes as well.” This means more effective communication hubs and towers, but also a more rounded and intelligent customer service process.
Over recent years we’ve seen the emergence of virtual assistants and chatbots, most of which have been fairly impersonal and lacking in intuition. But with the accelerating traction in language understanding and recognition, we are likely to start seeing automated communications virtually indistinguishable from human assistants.
Surprisingly, one industry which may not strike readers as particularly interested in using AI is the energy sector. However, through edge technology, intelligent devices have been able to revolutionize energy usage and monitoring. In some places, there are already smart meters which allow property owners to monitor and optimize their energy usage.
For providers, the benefits of AI go all the way back to the source. In oil production, for instance, independent monitoring systems have been able to anticipate and schedule potential maintenance issues with pumps. In solar energy, artificial neural network controllers can be implemented in order to optimize voltage and reduce switching losses.
In just twenty years, IT has gone from a novelty in the classroom to a fundamental part of the curriculum. IT in education is moving beyond learning how to use excel, generate reports, and use word processing programs. Education is now augmenting teaching itself with AI to deliver assisted learning programs.
AI can be utilized anywhere, not just in the classroom, and can be integrated with the course materials into a virtual assistant, freeing up the teachers time for more involved discussion. It can also help to analyze student data and identify potential learning habits or gaps in knowledge, assisting educational professionals to refine their methods and zone in on class needs.
“Perhaps one of the most critical industries to adapt AI technology is healthcare,” writes Michael Benson, a regular contributor to Stateofwriting and Eliteassignmenthelp. “Not long ago, the thought of machine-assisted healthcare was the stuff of science fiction, but in reality, it looks a little different. Crucially, AI is important in analyzing patient and research data. This means a greater understanding of health patterns and early warning signs can be picked up quickly and dealt with more effectively.”
Beyond the ability to collate and suggest action on data, AI is now making its way onto the wards. Many hospitals rely on AI-assisted pain relief and more advanced patient monitoring in surgical theatres.