By Auto Tech Outlook | Wednesday, March 13, 2019
The world is now dominated by artificial intelligence. AI coupled with the advances in the field of machine learning process and application is now a reality owing to higher and more powerful processing power. It also analyzes customer behavior, reduces costs and personalizes experiences offering automate routine tasks.
Artificial intelligence has revolutionized various businesses with its applications such as advanced analytics, many automation platforms, NPL (Natural Language Processing) support, and cloud computing capabilities.
The technology is applied in more promising ways in various business industries as:
The field of Higher Education
Artificial intelligence has an increasing influence in the field of higher education. The technology’s primary use is in grading objective (multiple) questions saving time. It is also used in analyzing a vast amount of data and also to develop personalized lessons for students with well-round and holistic opportunities.
Healthcare industry is using the AI tech to identify high-risk patient groups, predict diseases, increase speed and accuracy of the treatment providing by health care professionals and doctors. AI also helps in automating diagnostic tests.
The technology is also used to improve healthcare management within the industry by analyzing a variety of customer and performance data to help optimize operations.
The application of artificial intelligence tech is most widely known in the retail industry. AI-based chatbots and virtual customer assistants allow retail companies to run 24/7 customer services. It also helps in answering the basic questions, queries, and FAQs to the customers using speech recognition and NPL.
Finance and Banking Industry
With Artificial intelligence, the everyday tasks of financial management such as assessing credit quality or automating client interactions are done within seconds without any errors. AI tech is also used in trading and investment management.
Financial cybersecurity is also provided by AI tech to the banking sectors.
AI is used to develop autonomous robots programmed to handle routine agricultural tasks. The tech is also deployed in crop and soil monitoring development computer vision and deep learning algorithms to process data captured by drones or software-based technology.
The predictive analytics driven by machine learning models are developed to track and predict the impacts on crop field faced by erratic weather changes.