In recent times the Artificial Intelligence (AI) has dramatically changed the business landscape. The entire tech world is discussing the consequences of AI and the part it is going to play in shaping our next generation. We have begun learning ways to communicate with devices. To perform certain tasks by machines, we are successful in directing machines using their intelligence. Artificial intelligence is influencing our decisions and our lifestyles every day.
Many sectors have been arising significantly and contributing more to the economy. By adding the technology in these sectors the result would be more beneficial. The sectors like financial services, infrastructure, technology, automotive and healthcare have been growing rapidly in the country.Artificial intelligence today is not just a theory, it has many practical applications.
Let’s have a look at the application of AI in the top sectors:
AI provides a competitive edge to e-commerce businesses and is becoming readily available to the organization of any budget or size. It enables shoppers to discover associated products whether it is colour, shape, size or even brand. The visual capabilities of AI are improving every year. Leveraging machine learning, AI software automatically organizes tags and visually searches content by labelling features of the video or image.
Machine learning helps companies in product search ranking, demand forecasting, product and deals recommendations, fraud detection, merchandising placements, translations and much more. Many e-commerce retailers are already becoming more enlightened with their AI capabilities.
Talking about AI, the more prominent displays of this technology are smart cars and drones that are only guided by artificial intelligence technologies and automatic learning. Just a few years back, using a fully automatic car was a dream, however, now we have made so much progress that we already have automatic cars.
Companies like Walmart and Amazon are heavily investing in drone delivery programs and it will become a reality far sooner than what you wait.
Tesla cars are a prime example of how the AI is impacting our daily life, it was one of the first automotive brands to launch a self-driving vehicle, and famous brands like Cadillac, Volvo and Audi are already developing their models.
AI-powered chatbots in enterprises will see an influx of people get more comfortable with how AI can actually benefit businesses versus, say, take away their jobs. Through analytical standpoint, Artificial Intelligence can be incorporated into interfaces to change how they receive and understand data. Chatbots have already been implemented into websites and e companies to provide instant service to customers.Chatbots always deliver smart and flexible analytics through conversations on mobile devices using standard voice-activated interfaces and messaging tools. This dramatically reduces the time to collect data thereby accelerating the pace of business and streamlines, preparing companies for the growing data needs of the near future.
AI is becoming the “right hand” of retailers and marketers around the world.There are many possible applications of AI in the exclusive fields of digital marketing and sales. Through machine learning and Artificial Intelligence, the most profitable audiences can be found for any ad. This means that intelligent algorithms can detect, learn and predict which types of users are more likely to become clients at a lower cost per acquisition.
Cyber attacks are becoming an emerging reality with the move to a digital world. In addition to standard security measures, we have adopted AI to assist with cybersecurity defence. Regarding cybersecurity, AI is making great strides. Although AI is considered to be in its infancy in cybersecurity and cannot always effectively address all issues. If it is a case of data protection it works successfully. AI allows organizations to detect vulnerabilities or anomalous user behaviour in such business applications as Financial systems or ERP.
While we might think that AI is at least a few years away from causing any considerable effects on our lives, the fact is that it is already having an enormous impact on us. We can figure it out from these applications. AI technology will be the great technology to give a boost to core sectors and help us for quick digitization. Artificial intelligence continues to be a peak topic in the technology space as well as increasing its inception into other realms such as healthcare, business, and gaming.
Jaidev Chatanat is a thought leader in the space of marketing intelligence, customer service and digital transformation. He has been an advocate for applying the right digital transformative strategies and techniques for many decades for fortune 500 companies.
He is reachable for consultation on email@example.com