Which Industries are maximum affected by Artificial Intelligence?
In this fast pacing world of technology, we all rely on the "innovate or die" mantra whether it's human or machine life, rules are the same. Thus we all are growing and innovating but this innovation is disrupting the life of some other industries. Let us understand how and why these industries are getting affected.
Artificial Intelligence (AI) refers to the simulation of human-like intelligence in the machines that are programmed to think and mimic like humans. The ideal characteristic of artificial intelligence is its ability to rationalize and take actions that have the best chance of achieving a specific goal. This idea helps in error-free solutions and less time consuming thus being adapted worldwide thus some of the industries being affected by AI are:-
It is one of the main industries being affected by the emergence of AI. Self-driving vehicles, traffic management, Delay management, and Drone Axis are the main areas affected in the transportation industry.
- Self-driving cars are not innovation for all of us, Giant companies like Tesla are constantly working to fully change the world of automated vehicles with innovations. Although the world's first Autonomous taxis have already started operating in Tokyo. This initiative will reduce the cost of taxi services and make them more widely available.
- Traffic Management is important for smooth functioning, this can not only reduce traffic congestion but can also help in road safety and reducing wait time.
- Delay prediction is another advantage people get with AI, Many companies can use it for a better customer experience by cutting down their wait times and enhancing their experiences.
- A passenger drone (also known as a drone taxi, flying taxi, or pilotless helicopter) is a type of personal air vehicle (PAV). As the name suggests they are automated flying taxis. According to Wikipedia, The future of passenger drones remains uncertain since this technology is so new. Innovation in aerial drone technology and aerial traffic coordination, control, and collision-avoidance could result in the rapid proliferation of passenger drones for civilian travel.
Agriculture Industry is considered the foundation of the Economy but many factors such as climate change, population growth, and food security concerns have propelled the industry into seeking more innovative approaches to protecting and yielding crop fields. As a result, AI is steadily emerging as part of the industry’s technological evolution.
- Robots in Agriculture - Crop harvesting is a tedious task and includes a lot of Manpower thus for a faster pace and harvesting crops at higher volume Robots could be the solutions, thus many companies are working on this project. Harvest CROO Robotics has developed a robot to help strawberry farmers pick and pack their crops. Thus leading to the decline of jobs for laborers.
- Crop and Soil Monitoring – AI Algorithms can be used for processing data captured from various technologies to monitor crop and soil health and better yielding of the crop. The berlin-based agricultural tech startup PEAT has developed a deep learning application called Plantix that reportedly identifies potential defects and nutrient deficiencies in the soil.
- Predictive Analytics – Machine learning models are being developed to track and predict various environmental impacts on crop yield such as weather changes. This can be helpful in better preparations of the field for different crops for the farmers. A Colorado-based company named aWhere uses machine learning algorithms in connection with satellites to predict the weather, analyze crop sustainability, and evaluate farms for the presence of diseases and pests.
Quality Maintainance is one of the most important parts of manufacturing and machine learning is a branch of AI that provides many algorithms that help industries to analyze the quality measurements for different products using the data that will be beneficial in this. It also helps in inspection, and slowing or speeding the assembly line.
AI also takes care of powering robots at welding stations, parts retrievers, and facility environments. We all know how manufacturing industries are dominated by robots and automated machines these days. The automakers were the first corporations to use computer-aided design (CAD) and systems integration and now in 2020 hardly any company is left which doesn't have these systems. Like the Agriculture Industry laborers were disrupted because of this revolution.
Dr. Emmanuel Fombu, Author of The Future of Healthcare says, "Artificial intelligence is arguably the single biggest disruptor for the healthcare industry. It'll free up physician's time by taking care of menial tasks, It'll aid in the discovery of new drugs and treatments and it’ll help to provide personalized healthcare to every single patient in the system. The possibilities are mind-blowing."
You must have heard of various Applications through which we can consult to doctor without even visiting them for normal medical conditions. Even though we don't even need a doctor for this chatbots are quite popular for doing this work. Tell them your age, previous medical history and we are ready to go. Isn't it simple? These features are elevating the use of technology and disrupting traditional methods.
Some of the Artificial Intelligence organizations and their specialization in the Healthcare Industry are stated below.
- Sigtuple is working on data-driven, machine learning and cloud-based solutions to identify abnormalities and patterns in medical data for disease diagnosis.
- Tricog provides the most reliable and quickest real-time diagnosis.
- Oncostem is designing measures to help detect patterns in the risk of cancer recurrence.
- Niramai’s early-stage breast cancer screening solution is a non-contact, non-invasive, portable, safe, automated solution that works for women of all ages.
Major Effects of AI in the Healthcare Industry include Automation of the task which reduces repetitive tasks and time taken to do those tasks thus resulting in faster and better solutions.
A recent study revealed wearable devices like Apple Watch and FitBit are already able to gather sophisticated data to enable the detection of health conditions such as hypertension and sleep apnoea that could help us in the study for the early detection of these health conditions
Call Center and Customer Experience
Call Center and customer experience is a big network and one of the important factors for better customer satisfaction and AI is helping it become better by releasing customers from long waiting on calls and better and fast solutions to their queries.
Organizations can use AI to provide customer self-service options and help make agents more productive. It is a great way to deliver great, personalized customer service through AI chatbots. These virtual assistants are only becoming more sophisticated and can help build stronger relationships with customers in a cheap, efficient, and consistent manner. Chatbots are also increasingly being used beyond light customer service, to engage customers during the sales process. According to resources, In few years customers will manage 85% of their relationship with a company without ever interacting with a human.
From airlines and hotels to travel agencies, AI is helping mitigate frustration during challenging travel situations by understanding the context of the customer’s circumstance and providing contextually relevant options to resolve the issue.
Online Shopping Websites
Online shopping is getting promoted a lot these days, with this pandemic on head people are choosing the online option as a better and safer way to shop. It is observed due to this pandemic almost 45% inclination in an increase of online websites were seen, Can you imagine why? because they are available anywhere and everywhere. AI is helping these online sites for providing better customer satisfaction that includes personalized wardrobe recommendations for different body types or suggestions based on the previous history of shopping just like Netflix these online shopping sites can also use Machine learning algorithms for better recommendations resulting in a better customer experience.
Myntra, a well-known shopping site is using futuristic technologies like data mining and AI to help designers come up with patterns and styles that can boost sales for apparel makers. AI is getting it's root stronger day by day in every field.
The importance of education is reflected in our daily life and AI and education are interrelated as one is used to develop minds capable of expanding and leveraging the knowledge pool, while AI provides tools for developing a more accurate and detailed picture of how the human mind works and with the time the traditional methods are getting innovative and fun with the help of AI. Online classes and exams are nowadays new normal, smart classes are part of the curriculum for the last 6-7 years which is making education better without getting monotonous.
Smarter Content - Cream101is use for summarizing educational content in brief instructions. It can convert 500 pages textbook to chapter-wise summaries, multiple-choice practice tests, and flashcards for storing important notes. Isn't it, we are getting everything on our plates? Students can utilize spare time for extracurricular activities which will help in the overall development of their minds. JustTheFacts101 has a similar, though more streamlined purpose — highlighting and creating text and chapter-specific summaries, which are then archived into a digital collection and made available on Amazon. There are also AI-based platforms like Netex that allow teachers to create digital programs and digital content that are supported by all types of devices, including smartphones and online assistants providing students ease of studying.
We have discussed how AI is affecting different industries with their pros and cons. Everything has two sides we have discussed how AI is acting as a bane for one and boon for others. Each Industry has to evolve with time this is part of their growth process. Many industries including healthcare, transportation, and agriculture are getting huge profits while they are upgrading with AI. Thus other industries need to adopt these new emerging technologies for being part of a new and evolved country.
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