Many companies see the benefits of AI resulting from increased productivity, speed, and business continuity, as well as minimizing the risk of irregularities and complications. As a result, the number of companies and industries using systems based on artificial intelligence is continually growing. Thus, AI is used in so many solutions that it’s impossible to list them all. However, in this article, you will discover seven of the most interesting AI applications.
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Artificial intelligence applications
AI APPLICATIONS IN HEALTHCARE
Healthcare is one of the many sectors where artificial intelligence finds its applications. Artificial intelligence has become the first line of defense after the COVID-19 outbreak. It has reduced the work of doctors and medical staff. But not only. For example, Chinese scientists have created an application that tells the user whether they are close to someone infected with the coronavirus or someone diagnosed with COVID-19. In addition, it’s used to build advanced machines that detect various diseases and can identify cancer cells in the early stage.
AI APPLICATIONS IN SOCIAL MEDIA
Artificial intelligence is also present in social media. Many social media platforms use it for:
- Content optimization
- Forecasting market trends and user needs
- Improving customer service and the UX
Platforms such as Facebook, Instagram, Twitter, and LinkedIn have become a permanent part of our everyday life. They use AI for various purposes. For example, Facebook uses automatic post-translation. By contrast, Instagram takes user likes into account to determine what posts to show in the Explore tab. Twitter, on the other hand, uses AI to detect hateful content and fraudsters. In the case of LinkedIn, AI algorithms analyze the user’s profile and then suggest other profiles according to the detected similarities.
AI APPLICATIONS IN CHATBOTS
Chatbots are an excellent example of how AI can automate various tasks within an organization. Today, you can find them on thousands of websites. Chatbots are tools that understand natural language and can respond to user inquiries. As AI grows, chatbots can solve customer problems and answer simple questions. Thus, a company using chatbots can offer customers 24/7 support. According to Grand View Research Inc., in 2021, the chatbot market size was valued at USD 525.7 million. And from 2022 to 2030, it is expected to expand at a compound annual growth rate (CAGR) of 25.7%.
AI APPLICATIONS IN VEHICLES
Will we see autonomous cars on the roads in the near future? Everything points to it. Companies such as Tesla, Audi, and Volvo are already using ML to train computers to think like people when it comes to driving. They also use algorithms to detect objects and harmful circumstances to avoid car accidents. Tesla, in particular, began to invest in self-driving cars. By gathering data from the vehicle’s camera, GPS, cloud services, and radars, the AI system helps the driver to operate the car.
ARTIFICIAL INTELLIGENCE APPLICATIONS IN FINANCE
There are a variety of applications of artificial intelligence in the finance sector. Artificial intelligence can:
- Detect fraud transactions
- Assess and predict credit risk
- Warn the user about potential fraud
- Increase personalized banking services
- Automate management processes
- Optimize trading activity
AI APPLICATIONS IN EDUCATION
AI is beginning to have more and more applications in the education sector. As in other industries, also here, artificial intelligence helps to increase productivity and focus on what is important. Here are three examples of how AI can be used in education:
- Automated administrative tasks: AI facilitates enrollment management, organization, and evaluation of documents. It also allows the automation of personalized messages to students.
- Intelligent teaching platforms: An example of such a solution is the Knewton platform. It has a strong focus on personalizing the learning process as well as understanding which learning path is most effective.
- Creating intelligent content: Including lectures, conferences, and various other educational content can be digitized using AI.
AI APPLICATIONS IN E-COMMERCE
E-commerce is another industry that benefits from the convenience of AI. First of all, it allows you to create product recommendations in line with the browsing history and customer interests. In addition, the industry also uses chatbots to improve UX when shopping online. Fake reviews and credit card scams are a big problem in electronic commerce. AI helps reduce fraud and helps identify fake reviews. Yet another interesting AI application in e-commerce is called dynamic pricing. It’s a solution that enables online sellers to automate pricing in their stores so that they remain at an optimal level.
The use of artificial intelligence is a great opportunity for the company, which can thus optimize the way it operates. Automate your business processes and gain a competitive advantage. Of course, it is important to ensure that the action of artificial intelligence complements and improves human activities rather than replacing them.
If you want to benefit from AI in your company, start with AI consulting services.