How Advanced AI Is Growing Industries

The use of AI in industry isn’t anything new. However, the adoption…

The use of AI in industry isn’t anything new. However, the adoption is subtle, and many have failed to notice it. This article details the impact of AI and its adoption in various industries. 

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Photo by Rob Lambert on Unsplash

Branches of Artificial Intelligence

Replicating human intelligence doesn’t come easy. Therefore, the field of AI has several branches working towards recreating human intelligence in machines. The branches of AI include:

  • Deep learning
  • Machine learning
  • Natural language processing
  • Robotics
  • Expert Systems 
  • Fuzzy logic

AI in Industry: Use Cases

The application of AI in different industries involves one or more branches of artificial intelligence. This section of the article analyzes the use cases of AI in industry according to different sectors.

AI in Writing

AI-powered writing assistants are among the best things to have happened in the writing industry in recent times. They enable writers to write faster and more efficiently. AI writing software considerably reduces the time spent on drafting articles and blog posts. They serve as real-time assistants, always bailing writers out every step of the way.

The great thing about most AI writing software is that they often have free trials. This allows users to have a feel of the service before going all in. Some of the best AI-enabled writers are:

  • INK
  • Grammarly
  • QuillBot
  • Jasper

AI in Education

The use of AI in education is vast, spanning all aspects of education, from preparation to teaching to assessment. With AI, educators now have help with non-educational tasks. AI has made it possible to automate this category of tasks. It helps education organizations manage tasks like enrollment and courses.

In addition, AI can help educators make better content for learners. It can help them to evaluate the effectiveness of their teaching methods. They can also develop personalized curricula for students.

AI in Manufacturing

With artificial intelligence, it is easier to conduct predictive maintenance. Manufacturing companies can rely on AI to spot potential accidents through the analysis of sensor data. Artificial intelligence helps manufacturers to perfectly predict when functional parts will fail. This forecast makes it easy to maintain and repair tools before they break down.

In addition, machine learning solutions can improve inventory planning activities. These machine learning solutions are good at handling supply planning and demand forecasting.

There is a need to maintain a desired level of quality in a service or product. This is called quality assurance, and AI can help with it. Maintenance and repair companies can deploy predictive maintenance tools to perform accurate calculations. These are valuable tools that help in predicting where product quality is dropping.

AI in Lifestyle Automation

Devices such as phones and laptops use facial recognition techniques to detect and identify users. Apart from personal usage, facial recognition is a widely used AI application in highly-secured areas.

Another example of the use of AI in lifestyle automation is autonomous cars. An autonomous car can recognize drivers, pedestrians, and other objects on the road. It can respond to pedestrian signals and doesn’t require human input in emergency situations.

AI in Business Management

Artificial intelligence has positively impacted business management. It is now easier to handle customer queries thanks to AI chatbots. These chatbots can be used to provide customers with the information they need in real-time.

In addition, the platform can be used to gain insight into customers’ behavior. Using these insights, companies can be certain of how their products are being received, and they can adjust their marketing accordingly.

AI in Finance Industry

In the finance industry, AI is used to detect fraudulent activities. Big banks use AI algorithms to mark suspicious transactions that deviate from normal patterns for further inspection. Research and development in AI have also made algorithmic trading possible. These AI models can react faster and make complex trading decisions in split seconds.

AI in Healthcare

Several factors can affect a person’s response to treatments. It’s difficult for doctors and health workers to parse all these factors. AI is capable of processing huge amounts of data to identify the best treatment for patients. It is also capable of identifying emerging health concerns before they rise to potentially fatal levels.

Thanks to computer vision and machine learning, conditions like skin cancers can be diagnosed more accurately. AI also assists surgeons during complex surgeries. For example, AI can ensure surgeons perform all necessary steps correctly during a surgical procedure.

To Wrap Up

Artificial intelligence is becoming increasingly relevant and present in most industries, from manufacturing, education, business management, lifestyle automation and even literature.

Frequently asked questions

How large is the AI industry?

Global artificial intelligence market size was estimated at USD 93.5 billion in 2021, and it is expected to reach USD 136.6 billion in 2015.

How is AI changing the world?

Modern Artificial Intelligence systems can capture and understand their environment in real-time; they can make optimal decisions on multiple signals in milliseconds. AI already changes our world through applications that extend far beyond self-driving cars and healthcare.

Why was AI advanced in recents?

AI and robots will become more easy to use and offer greater functionality through machine learning and recognition improvements. Google Duplex, for example, lets AI converse like a human and make phone calls on its users’ behalf.

Where is AI the biggest impact?

TRANSPORTATION. Future AI may have the most impact on self-driving cars. Contrary to humans, AI drivers do not look down at their smartphones, put on mascara, or argue with their children in the backseat. Self-driving cars are already here thanks to Google, but watch for them to become ubiquitous by 2030.

Why is AI growing so fast?

Recent investments in AI have led to rapid expansion of the AI industry. A number of new companies are experimenting with AI related solutions in order to provide smarter solutions to their customers.

How AI will change the future of business?

Business owners can provide their customers with a more personalized experience through artificial intelligence. Analyzing vast data with AI is far more efficient. It can quickly identify patterns in the information- like past buying history, buying preferences, credit scores, and other common threads.

What industries will AI replace?

  • Retail services
  • Receptionists
  • Courier services
  • Analytical data entries and bookkeeping.
  • The pharmaceutical industry and manufacturing industry.
  • Proofreading
  • Doctors
  • Customer service executives. There is no need to have an outstanding level of social or emotional intelligence to perform customer service.

Is AI the future of manufacturing?

The AI industry is predicted to increase production 40% or more by 2035. From 2035 to 3040, artificial intelligence is projected to stimulate the economic growth by an average of 1.7%. The advocates of AI argue that it is only an evolution of automation, a predictable result of the Fourth Industrial Revolution.

How is AI changing industries?

Analytics have increased the productivity and efficiency of dozens of industries – from manufacturing to retail. AI is likely to make even more substantial strides in the coming year, causing positive change to specific industries and adapting how they function at an elementary level.

How does AI help in industry?

According to a BCG report, the manufacturing industry’s most important AI use cases are: Intelligent, self-optimizing machines that automate production processes. Planning efficiency losses according to forecasts. Quality defect detection to enable predictive maintenance.

Which industry uses AI the most?

Manufacturing is a leading industry in the applications and adoption of AI technology.

How quickly is AI advancing?

Eighty-six percent of companies say AI will become a “mainstream technology” in 2021. Harris Poll, a collaboration with Appen, found that 55% of companies plan to accelerate their AI strategy in 2020, and 67% are predicting that they plan to continue to accelerate it in 2021.

Who leads in artificial intelligence?

IBM is leading the industry as AI products and services are fragmented. With 13.7% market share in 2020, IDC ranked IBM as the leading AI software company, up 46% from the prior year.

Is AI industry growing?

Global Artificial Intelligence (AI) Market Size likely to grow at 39.4% CAGR during 2022-2028 | Industry.

What is impact of AI in industry?

According to industrial manufacturing business leaders, AI technology will have varying impacts and grow due to industry needs: 21 percent for product design, development and engineering. Maintenance operations topped off at 21 percent. Production/assemblage is 15%.

How Advanced AI Is Growing Industries

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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