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Applications of Artificial Intelligence

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Artificial Intelligence or AI entails upon the concept wherein machines are used for doing jobs that were previously done by humans. The machines have a pre-programmed simulation that can immaculate the know-how needed to perform a particular job. The growth of AI has been phenomenal while the industry continues expanding itself at an exponential pace. AI is slowly getting introduced to the banking industry, finance, marketing and a lot many places. Helping you understand some of the major Applications of Artificial Intelligence:

AI in Marketing

What do you typically do in the marketing field? You create a fascinating niche for the fleet of products or services you intend selling. In other words, you sugar coat your products or services so as to make them appealing to your target audiences. Marketing executives do a fascinating job at convincing customers to buy any type of product or service. Now, imagine a pre-programmed chat bot or an algorithm simulation doing it for you. Wouldn’t that feel awesome? Here is where AI tangentially fits into the field of marketing.

Take an example: Way back in the 2000’s, when the e-commerce industry was introduced to us, finding the right type of products versus their sellers was a real time nightmare. This was exactly true when you didn’t know the exact name of the product. Today, when you type the first word of the product, you get several search results belonging to the item you were looking for. It looks as if the search engines were reading your minds. Within seconds, you get the product you were exactly looking for.

One more example is that of Netflix. Why do you find Netflix so amazing and chill? That is because it examines millions of records with respect to customer’s preferences on movies or TV shows. Hence, if you had seen the movie of a film belonging to a particular actor, it displays several movies or game shows done by the actor. The technology therefore is getting smarter day by day. In the growing years, you can find your product on the web just by snapping a photo of it. Competitors like CamFind are already into experimenting the trend.

Banking

AI in the banking industry is growing at an astounding pace indeed. Banking systems use AI powered virtual assistants to cater to customer service, detect frauds and facilitate loan lending processes. AI is mainly used in the banking industry to keep a tab on fraudulent transactions.

Now, how does this happen? The AI chatbots detect card usage versus their end-point access. This way, security specialists are able to detect scenarios concerning frauds. Companies like Mastercard and RBS WorldPay are relying on AI for finance, banking and retail sectors. This has saved the economy millions of dollars.

Agriculture

The global population is expected to touch a whopping 10 billion humans by 2050 alone. This means we would be needing more food crops by almost 50%. How do you think you can quadruple agricultural yield if the population is growing exponentially? Food companies are coming up with more innovative methods of agricultural farming. Deploying AI and robotics to agriculture help farmers get more from the land while utilizing the existing natural resources more sustainably.

Issues like growing population, climate change and food security concerns are pushing the industry to adopt better approaches to doing farming or agriculture. There is a firm named Blue River Technologies. It has introduced a novel concept namely ‘See and Spray’. The technology makes use of computer vision to detect the crops carefully and spray weedicides accordingly. The tech is used for applying weedicide to cotton plants. Similarly you have one more firm that actively uses robotics and automation in agriculture.

There is a Berlin based agro firm namely PEAT. The computers monitor potential defects and nutritional deficiencies in the soil among growing crops. This is done via images. Farmers then get soil restoration tips, techniques and other useful solutions to protect crops. The estimated accuracy of deploying automation or robotics to agriculture is around 95%.

Health-care industry

Quite a lot of medical companies are relying on AI. Using AI in health-care in fact has saved millions of lives. There is a healthcare company named Cambio. It has devised an equipment that can forewarn surgeons of patients who stand at the risk of getting a heart-related stroke. Coala Life uses AI that can detect patients suffering with a host of cardiac ailments. Aifloo is another automated device that detects the health of people staying at nursing homes, home care centers, etc. You can use AI to detect the impending disorders so that you are able to save lives with the existing medication. As earlier detection prevents the diseases from getting more severe.

Space Exploration

Space expeditions require analysis of a huge amount of data figures to arrive at compelling discoveries. AI coupled with ML helps tabulate data and analyze figures over years. This way, AI transitions a smoother flow to handle and process data on this higher a scale. The Kepler telescope had taken a huge amount of pictures. By using AI, astronomers were able to identify the movements of an eight-planet system. AI technologies are used by NASA extensively to facilitate its next Rover Mission to Mars, i.e. the Mars 2020 Rover.

You already have AEGIS, which is an AI powered Mars Rover that has confirmed its presence on the Red Planet. The Rover helps target autonomous cameras take precise pictures concerning detailed investigation on Mars.

Gaming

You have the combined forces of Augmented Reality and Virtual Reality bringing the games to life. Shooting games, car racing games and biking are able to keep us hooked to the gaming consoles as such. Alpha Go Zero, FEAR and Pokemon Go capitalize on AI to get a real-time feel while playing games. Using AI in the gaming industry is the in-thing for today’s generation.

Self-driven vehicles

Self driving cars have always been a buzzword in AI. You have a firm named Waymo. It conducted several test drives in Phoenix before coming out with its fleet of self-driven cars. How do you think this happens? The AI system collects data vehicle’s radar, GPS and cameras. You connect the input values via cloud computing services. Therefore, you get the right kind of sensors that signal or help operate the vehicle, as such.

Advanced Deep learning algorithms give the self-driving car with the kind of objects that are within the vicinity of the driving car. Hence, you get a direct overview of other vehicles that are driving down the roads. This way, self-driving cars are estimated to be more effective and safer too. Tesla’s self-driving cars with the auto-pilot mode are also highly spoken about.

Chat bots

Virtual assistants are increasingly used at hotels, restaurants and at households too. You have talking devices like Alexa, Siri, Cortana and Google Assistant who provide verbal services to us humans. They can take commands from you and answer you back. How does this technology work?

The AI translates human language into desirable commands. This is done via speech recognition and NLP in order to perform a wide range of tasks on your command. You can use AI devices to switch on TVs, table-lamps and music systems. These devices can tell you message notifications on your mobile phone. You can book movie tickets, book cab services, order food from online restaurants and a lot more.

Similarly chat bots and robots are used at fast food chains and hotels to take orders from customers. Their orders are then processed and food plates come across via conveyor belts to be handed over to the customers’ tables.

Conclusion

These are the top 8 applications of Artificial Intelligence. You have many more fields where the true potential of AI is yet to be tapped. So be on the lookout for more innovations happening via AI.

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Applications of Artificial Intelligence

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