The Sprawling Span of Artificial Intelligence in Business

10/14/2020

PwC's Global Artificial Intelligence Study: Exploiting the AI Revolution states that

The potential contribution from Artificial Intelligence to the global economy by 2030 is likely to amount up to $15.7tr.

Artificial intelligence is perhaps one of the most disruptive technologies that businesses did not have to think twice about before adopting. Despite the fact that artificial intelligence solutions are still in their nascent stage, the sturdy revolution that it is bringing about in such varied industries is commendable. Together with machine learning, AI has transformed more than just IT.

What Sectors of Business have Artificial Intelligence Solutions Touched?

According to a findings of a Gartner poll,

"Despite the global impact of COVID-19, 47% of artificial intelligence (AI) investments were unchanged since the start of the pandemic and 30% of organizations actually planned to increase such investments..."

Why? Let's see:

Healthcare:

The very basic but important solution that AI has provided to the healthcare sector is that the doctors, and even the supporting staff for that matter, does not waste their precious time in grunt work like maintaining patient records and history and sifting through it every time the patient arrives. AI can actually offer customised care plans to patients through data- driven insights.

Artificial intelligence in the healthcare business is advancing so much so in the US that smartphone-based cognitive behavioral therapy is readying itself to help patients with conditions like depression and substance abuse.

Cybersecurity:

With built-in ML algorithms, the newest of firewalls learns user behavior in depth and is able to recognize anomalies as and when they are happening, thus pushing auto-block to counter the threat. With further help of neuro-linguistic programming, the cybersecurity industry is making advances that have been much needed in the face of the cyber attacks that the world has been witnessing.

This is typical case of the use of responsible AI:

Finance:

Heard of self-learning algorithms yet? Well, as the name suggests, they learn user behavior, just like machine learning in the previous context. As these algorithms feed on the data they need, the analytic output they offer excels in accuracy and predictability.

From trading first to advisories, the use has become close to home and is making ripples in the finance industry.

Transportation:

Yes, the transportation sector too. Self-driven cars everyone? Tesla and Google are not just prototypes here; they're a revolution in its own right. And despite all censuring that the world has to offer to anything so revolutionary, AI is the long-term future of transportation and automobiles.

AI development services are creating ripples and one must acknowledge it.

"Gartner foresees developers being the major force in AI"

Also, if you are sharing rides in the near future in a Tesla cab, thank AI developers for it.

Marketing:

Oh, the chatbots! They are so close at hand that we don't even realise the assimilation of AI in our daily lives. Digital marketing is perhaps that one that has leveraged artificial intelligence development services. From customizing offers to providing effective customer services, marketing is nailing it.

Was your trade not listed here? Odds are that we can still help you with it. If you are looking for artificial intelligence solutions for your business, we will be happy to take you a step ahead in understanding the use cases. All you need to do is get in touch with us.