Non-stop advancements in AI technology has redefined various aspects of human life. Its ability to provide simplified solutions to complex problems is improving the business efficiency and productivity of various enterprises in different sectors. This gain by the early adopters has prompted other organizations to integrate Artificial Intelligence into their system as well. Now, no business or industry is untouched by AI.
According to a study by Accenture, global services and consulting company, “the inability to scale AI can put 75% of businesses out of business”.
Here, let us look at some of the industries that have taken advantage of AI technology and will gain in the future also.
From the early detection of cancer (without biopsies) to drug discovery, Healthcare has always been at the forefront to utilize this amazing technology to improve its efficiency. However, the Covid-19 pandemic changed the way we perceive health and showed us how weak and vulnerable the healthcare system of most countries is. Even the most developed countries struggled to provide basic healthcare facilities to Covid-19 patients while patients with other health issues were not even attended. This has led medical institutions to invest a considerable amount in AI technology.
With the help of Artificial Intelligence, it has become easier for the staff to analyze patients’ data, manage them, and schedule appointments with doctors. AI-incorporation is providing precise diagnosis and assisting medical practitioners in better decision making. It is strengthening the capabilities of hospitals by streamlining repetitive tasks of analyzing tests and CT scans.
Researchers from Germany and France leveraged deep learning neural networks to determine if AI can detect skin cancer. They trained the neural network by feeding more than one hundred thousand images with malignant melanomas (skin cancer), and Artificial Intelligence was able to detect 95% of malignant melanomas. Meanwhile, international dermatologists could detect 85% of them.
Artificial Intelligence is benefiting customer care service in plenty of ways. The best way to improve a customer’s experience is to provide a quick response to the query, issue, or problem and resolve it as quickly as possible. However, responding to every message in real-time was once an impossible and unrealistic task. The introduction of AI chatbots has made this action easier by being available 24/7 without human intervention.
AI’s ability to gather and analyze big data is revolutionizing customer care service. With Natural Language Processing (NLP) and sentimental analysis, AI can identify the emotion of the customer in the text. This way, it allows organizations to provide personalized resolutions to each customer, improving customer experience and increasing the satisfaction level.
According to Gartner, an IT research and consultancy company, by 2023, 30% of customer service organizations will deliver proactive customer services using AI-enabled process orchestration and continuous Intelligence.
Security is an integral, important, and most sensitive aspect of any organization (public or private) in the world. Traditional ways of security and surveillance involve human interference, which means a massive possibility of error. And small errors can lead to bitter incidents.
Artificial Intelligence plays an outstanding role in the domain of security and surveillance. AI video analytic cameras detect usual activities, fire smokes, and suspicious behavior. It also assists in crowd management in different heavily crowded and sensitive places like hospitals, airports, stadiums, and shopping malls. It can estimate crowd count, detect unattended baggage and trigger a real-time alert. AI has proved to be an excellent solution to monitor and manage traffic in major cities.
Brondby, a Danish football club in 2019, introduced AI-based facial recognition technology at its stadium. The system aimed to improve safety by identifying banned people from attending the match and assisted the securities in preventing them from entering the stadium.
AI’s ability to analyze big customer data and predict consumer behavior has been a breakthrough in the retail industry. AI analytics and Machine Learning (ML) identify the consumer behavioral pattern, learn from it and allow the retailers to predict the needs of the customers. Understanding the needs will help the retailers to provide personalized services to their customers, improving the customer experience.
AI video analytics in a retail store can recognize faces, spot their walking pattern and even count the duration and direction of their gaze. The anti-theft mechanism is another contribution of AI in retails.
Marine Layers, a San Francisco-based clothing retailer, integrated AI service in their store to gain insights into the customer traffic.
With advancing technology, we can witness a rapid change in customer needs and expectations. To meet these expectations, companies have to develop products and applications with high performance and the least errors.
AI adoption in the software industry will eliminate the possibilities of error and improve the efficiency and productivity of a software company. AI adoption in various stages of software development will enable the developers in early detection of bugs and avoid any potential threats in the future. It enables enterprises to develop high-quality and high-performing software that meets customer or client expectations.
There is no doubt in the fact that Artificial Intelligence has become a must-have technology for enterprises to survive in their respective industries. Its seamless growth over recent years is proof that AI will be the crucial factor that will decide the fate of companies worldwide. From Healthcare and Retail to the Customer care and software industry, AI’s presence and dominance are visible in every industry across the globe. And this marvel technology is expected to bring outstanding advancements in the coming days.