Sat, Jan 28, 2023
Impact of Artificial Intelligence in Various Industrial Sectors!

In the world of Computer science, Artificial Intelligence, which is also known as machine intelligence, is a type of intelligence which is demonstrated by machines. This is in contrast to the natural intelligence inhibited by humans or animals. Today, we are well aware of speech recognition. Now, this technology is brought to us by Artificial intelligence. The ability of a digital computer or a robot to perform various sorts of tasks generally associated with intelligent beings; this is what Artificial intelligence is all about.

This is an upcoming field and happens to be a great opportunity for candidates vouching for jobs and hence, they should get acquainted with the whole idea of Artificial Intelligence. In recent years, careers in Artificial Intelligence have developed exponentially in order to meet the demands of digitally transformed industries. It is a known fact that there are plenty of jobs available in this field, but unfortunately, there is a shortage of candidates with the required amount of necessary skills.

There was a survey on Indeed site and the results proved us right. The demand for AI (Artificial Intelligence) skills have more than doubled over the past three years, and a certain number of job postings have been up by approximately 120 percent. However, for some reason, job seeker interest in artificial intelligence careers seems to have leveled off. Unfortunately, this suggests that employers have to struggle a lot in order to fill these positions.

Following is the list of various roles that Artificial Intelligence play in different kind of industries:

  1. Artificial Intelligence in the Healthcare Industry

As we all know, we are in a digital age where anything and everything could be implemented with the help of advanced technology and the internet. In today’s date, we are so advanced that a lot of things can be treated without any physical presence of humans. Let’s say, for example, a doctor can diagnose a patient even from a remote location. The need of the person to be physically present in front of the doctor is not required anymore. Imagine in the same a patient’s health condition could be checked against predefined medications and algorithms could prescribe a solution to the doctors. What an easy world that would be. Imagine a condition where all the patient vitals and health records are pre-analysed and a personalized treatment plan is produced for the doctor to review. This will change the entire treatment process. The whole idea behind this is to minimize human efforts and use technology to make things easier for us.

  1. Artificial Intelligence in the Mobile World

Smartphone happens to be the most used device by people today. We wouldn’t come across anybody who wouldn’t have a smartphone with them. These smartphones are not only considered to be a means of communication but they are also treated as a digital wallet. In fact, the smartphone could be classified as our personal assistant. Speaking about personal assistants, how can we miss mentioning about “Siri”? It can be considered as one of the best examples of proper utilization of AI (Artificial Intelligence) and Machine Language. Siri is offered to you in order to answer all your queries and provide valuable suggestions. This can be thought of as the start of the next wave of technology utilization.

Also, almost every mobile device have touchscreens in this digital age. All of this is a contribution by Artificial Intelligence.

  1. Artificial Intelligence in the Automobile Industry

If you are updated with the latest technology, you wouldn’t have missed this information at all. The concept of ‘Self-driving cars’ and ‘Autopilot’ features are big players in this arena. Would you have ever imagined that there would be cars that wouldn’t require any drivers to take you from one place to another? Artificial Intelligence would do that too. Just imagine!

  1. Artificial Intelligence in Retail Industry

The retail industry can gain a huge amount of profits by properly analyzing the customer needs versus buying the pattern and based on the consumption if their system could suggest:

  • Relevant coupon
  • Promote discounted offering
  • Target marketing
  • Stocking the warehouses.

All of these processes with definitely improve and to be honest will help the customers a lot.

Amazon started an offer called “Pantry” where they can select a few products as essentials and they are automatically delivered to you on a periodic basis. Well, this is a perfect example for introducing Artificial Intelligence into the process where a better operational and stocking activities are carried out.

  1. Artificial Intelligence in Fraud Industry

The fraud detection activity monitoring systems are actually a boon to the human kind where their money is protected by evaluating the transactions which they make.

Have you ever received an email or a text message from your bank confirming the recent transaction activity was actually made by you or was it someone else who got hold of your debit/credit card? Well, most of this transaction monitoring is carried out by the fraud detection team which is absolutely powered by AI.

The transaction patterns of the individual, the withdrawal amount from the ATM or the frequency of the account logins: all of this data is stored and analyzed for suspicious activity. Let’s say for example if you have never used your ATM card for years and all of a sudden you have started withdrawing money from your card then this would definitely be flagged as a fraud alert by the system.  So, the Artificial Intelligence algorithms are developed by considering different scenarios which will eventually alert the users to be cautious about their belongings. The same technique can be expanded and be further used in other industries as well.

Final words

With AI (Artificial intelligence) playing a vital role in different kind of industries, it would be unfair to the industries or disadvantageous for the people to ignore the importance of this wonderful technology brought to us. We should make the utmost use of this opportunity given to us and work towards a merrier future. So buck up and get acquainted with AI for excellent future prospects.

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