AI Stats You Can’t Miss
- AI market to reach $190.61 billion by 2025.
- AI to add \$15.7 trillion to global GDP by 2030.
- 40% of people use voice search daily.
- Nearly 77 percent of devices today use AI technology.
- The growth of AI startups accelerated 14-fold since 2000.
What is Artificial Intelligence?
Artificial intelligence (AI) is the ability of machines to perform tasks that are typically associated with human intelligence, such as learning, reasoning, and problem-solving. AI is a rapidly evolving field with many potential applications, such as healthcare, transportation, and customer service.
What are the Applications of Artificial Intelligence?
Today, AI is used in a variety of ways. It is becoming increasingly important in this era of advanced tech as it can efficiently handle complex issues in a wide array of areas including numerous industries such as robotics, defense, transport, healthcare, marketing, automotive, business, gaming, banking, chatbots, etc.
Before moving forward, let us look at the agenda of this blog on the applications of Artificial Intelligence:
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Now, let us start with the applications of AI in robotics.
AI Applications in Robotics
The field of robotics involves the designing and creation of automated machines or robots in such a way that they possess the ability to perform tasks on their own. Nowadays, robots are becoming more and more advanced and efficient in accomplishing tasks without human intervention. This is because AI tools and techniques are specially designed for the field of robotics. Advanced robots consist of sensors, high-definition cameras, voice recognition devices, etc.
These robots are capable of learning from their past mistakes and experiences and adjusting the algorithms according to the environment. AI is an extremely useful tool for robotic applications. When it is combined with advanced devices, it can help in optimizations. It is helpful in enhancing the complex manufacturing process in industries such as aerospace. The packaging process in industries also uses AI to enhance productivity and lower the overall cost.
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AI Applications in Defense
Defense is one of the most crucial sectors for AI’s contributions. Defense security systems can be vulnerable to attacks from hackers to steal confidential government or defense data. This can prove to be detrimental to any country. The manual identification and processing of unusual activities may not detect potential threats and can be time-consuming; this is where the involvement of AI proves to be of great use.
The analysis of large amounts of data becomes easy with the help of AI. AI tools help in finding suspicious activity. AI algorithms are designed in such a way that they try to learn from the data and distinguish between authorized access and unauthorized access. They also keep a track of the safety of military databases. Any alteration(s) in the same by an unknown source is immediately tracked down for action.
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AI Applications in Transport
AI has completely transformed the transport industry. As the competition in the transport industry is high, there is a need to analyze all the factors that influence the various facets of the business. These may be price, seasons, festivals, number of passengers, etc.
You must have noticed that the price of flights on Google fluctuates often. Seasons, festivals, routes, halts, and number of travelers on a route can all be reasons for these fluctuations. With the help of predictive analytics, data related to these factors, which impact the cost of transport, can be analyzed. AI tools help perform predictive analytics on data efficiently. With AI tools, the software or application can also predict the best prices for specific routes. This helps passengers find cheaper options. Further, AI-based applications notify passengers about the rise and drop in prices and about the available offers while booking tickets.
Another real-life application of AI in the field of transport is in online ride-sharing services such as Uber, Lyft, and Ola. These applications use AI, machine learning (ML), and data science to deliver customized services. AI helps in showing optimized paths and prices for the rides.
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AI Applications in Healthcare
These days, most healthcare organizations are relying on AI-based software for their day-to-day tasks. These tasks vary from patient diagnosis to hospital data management. The amount of data generated by the healthcare industry is 44 trillion gigabytes per day; so, there is a need for AI-based advanced processors that can extract, manipulate, analyze, and draw meaningful insights from this data.
AI and ML technologies are doing a fabulous job in the healthcare industry. The AI-based algorithms that are fed into the systems are capable enough to spot patterns much more efficiently than humans. These algorithms also help in the analysis of patient data, thus helping with the diagnosis. AI-based devices help measure real-time data such as blood pressure, heartbeat, body temperature, and much more. They send the collected data to doctors to analyze the patients’ health conditions from remote locations. This can save the time of both doctors and patients. AI-based bots and assistants also enable doctors to save and manage time for patients by streamlining the processes. Further, the applications of AI in Healthcare help pathologists for the analysis of genes and tissues, which makes the diagnosis of certain diseases more accurate.
AI Applications in Marketing
One of the key factors in running a successful business is marketing. Proper marketing strategies lead to generating high profits. According to Forbes, the revenue generated by the marketing industry in 2019 was more than US$300 million.
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Today, the marketing industry is revolutionized by the applications of AI. Various industries, such as e-commerce, e-learning, advertising, media, and entertainment, use AI to boost their profitability. Suppose, you are searching for a product on Amazon. Along with the product, it will also show you the best sellers, similar products, varieties of the same product, and recommended-for-you list of products.
You must have also observed that you get advertisements for similar products in your searches. Suppose, if you are searching for a specific Netflix series, then you will get advertisements and recommendations for other similar shows. This is achieved when AI-based algorithms for advertisements try to understand customer interests. Moreover, they learn and improve their performance over time. This type of automated marketing helps in targeted advertising, giving a personalized experience to customers, and boosting the businesses’ revenue.
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AI Applications in Automotive Industry
The emergence of AI has revolutionized the automotive industry as well. The invention of self-driving cars has completely changed the world of automobiles. There are various companies, such as Tesla, Nissan, Audi, Volvo, etc., developing self-driving cars. Self-driving cars are built by using a combination of various technologies, and one of the majorly used technologies is AI.
A self-driving car uses sensors, cameras, voice detectors, and many other devices. It analyzes the surroundings by collecting data; the software used in the car gives commands such that the car can make a safe drive. You just have to enter the location in the route map, and the AI-enabled advanced systems will find an optimized path to the destination.
With the help of AI, you can address problems such as traffic accidents, respond to natural disasters, etc. The applications of Artificial Intelligence have proved to be one of the greatest resources created by humans. The various applications of Artificial Intelligence are helping change the user experience in different ways.
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AI Applications in Business
Businesses are adopting AI to improve their customer relationships and to handle activities that would normally be completed by people but can be completed faster via robotic process automation. Businesses are also employing ML algorithms to determine the best methods to offer clients. Chatbots are integrated into businesses to provide rapid services to clients, which is one of the many uses of AI in the commercial sector. AI has the ability to increase sales, do predictive analysis, improve customer relationships by improving their entire experience, and create efficient and productive work procedures.
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AI Applications in Gaming
AI has been an important aspect of the gaming industry in recent years.
The gaming industry is the finest illustration of clever AI applications since it is on this platform where there are many changes in the end goal. AI is employed in a variety of ways including game creation, character development, etc. In gaming, AI implies interactive and adaptable video game experiences. Non-player characters, or NPCs, are typically used to create this type of AI-powered unique entertainment; NPCs act intellectually or artistically as if they were directed by a human player. The AI engine governs how an NPC behaves in the game environment.
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AI Applications in Banking
Banking is another application where AI is used extensively. Automation, chatbots, adaptive intelligence, algorithm trading, and ML are all used in financial activities. Several banks already use AI-based systems or software to provide customer service and identify abnormalities and fraud. AI is significantly valuable for the banking industry when it comes to fraud detection. Pattern recognition may be difficult for humans, but robots excel at it. By using AI and ML algorithms, security experts can stop fraud by tracing card usage and endpoint access.
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AI Applications in Chatbots
AI chatbots can understand natural language and reply to users who utilize the live chat option that many businesses offer for customer care. ML enables AI chatbots, and they may be incorporated into a variety of websites and apps. In contrast to gathering data from an existing choice of inclusive replies, AI chatbots can construct a database of responses. These chatbots can successfully address customer concerns, reply to basic inquiries, enhance customer service, and provide 24/7 help as AI continues to advance. Overall, AI chatbots assist in increasing customer satisfaction.
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AI has a variety of applications in a wide range of industries and domains, all of which have the ability to reduce human effort by automating and running everything through machine algorithms. Predictive analytics and AI will undoubtedly play a larger role in content production and software development in the future. AI is already changing sectors and assisting in the solution of complicated issues, and this trend will continue. Global technical equivalence and AI have the potential to become the future in the areas of health, environment, public safety, and security.