Artificial intelligence is one of the most emerging fields in recent scenarios. This field aims to produce projects that can work like a human brain. Till now we can see many examples of such projects of artificial intelligence that is capable of learning, thinking and working like humans and brains of humans.
Looking at the use cases AI is solving nowadays we may think that it is a very new field but the word Artificial intelligence came in front of the world in 1956 by McCarthy at the Dartmouth conference. The effect of this can be seen in the 21st century where the world’s leading companies like Microsoft, Google, Facebook and Amazon are developing some of the states of the art projects like AdaNet, Dopamine, Alexa, Prophet, and OpenAI. These all AI projects are aiming to help humans with their daily life problems.
According to a survey by Grand View Research, the global market of artificial intelligence is having a value of USD 93.5 billion in 2021 and the projection says that it will expand by a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030. The continuous research in the field is advancing the working nature of every crucial domain of the industry. In this article, we are going to look at different domains where the use of artificial intelligence is emerging very rapidly. Let’s start with the first domain!
Banking and Finance
This domain in the industry can be considered one of the early adaptors of artificial intelligence. The reason for being so is the availability of a huge amount of data and a variety of tough use-cases and problems.
Looking at the history of banking and finance we can understand that this sector plays a crucial role in human development and requires a lot of effort to avoid fraud and failures. A well-trained computer can help very much in this avoiding. Various AI programs and projects are available in the market that ensures the security of the system while helping in making a huge profit.
Various banks are also there who are providing facilities from chatbots to personal investment advisors that work based on the interests of individuals. A Variety of recommendation systems are implemented to suggest the best services and [products for the customers. Digital payment channels are designed while implementing AI agents on it. These are some of the major applications of AI in the banking and finance sector.
Healthcare
Healthcare is one of the major domains where the impact of AI is huge. We can see artificial intelligence is applied to every kind of procedure whether it is a daily or small healthcare procedure or it is a high-level healthcare procedure where we need to be accurate. A very simple example of the implementation of artificial intelligence in health care is the fit band or an iWatch which mainly works by applying sensors in the body and collecting data through it. In the end, using the artificially intelligent agent, we get pieces of information about various things such as heart rate, water required, and steps that need to be taken in a data. Sometimes we can also get notified about the abnormal effects on the body.
The above was just a use case of AI in healthcare and the implementation of AI is not ended here because in recent years we can see how artificial intelligence is applied in the generation of medication for COVID-19. Every major pharmaceutical company are applying artificial intelligence for procedures like drug discovery, robotic surgeries, virtual nursing assistant and chatbots.
Social Media
In recent scenarios, You have the power to tell people what you are doing right now using the social media channels like Facebook, Instagram, WhatsApp etc. These all channels use synthetic intelligence in the background and show us things which we may like or may want to know about. This is the power of artificial intelligence in social media.
However, we have had social media since 1971 when the first email was sent by Ray Tomlinson to himself “something like “QWERTYUIOP” written on it. From there to here social media have evolved so much and one of the main reasons behind it is artificial intelligence which helps organizations and individuals to improve their reach among a huge number of people using different algorithms.
Social media channels are not only meant to advertise yourselves but also make yourselves to be connected with the people in whom you are interested. there are a lot of applications which artificial intelligence holds in social media. Some of the basic examples are chatbots, recommendation systems, advertisement channelling etc.
Education
Artificial intelligence has brought a lot of possibilities to the education sector as well. Just, for example, AI is capable of grading educational content much faster and easier than humans. Instead of this simple example, AI is also capable of performing tasks such as task automation, personalized learning, universal accessing, smart content creation, teacher teaching, optimization of class performance, and 24/7 assistance.
Online classes are one of the major examples from the education domain where artificial intelligence has achieved a state of the art performances. Nowadays teachers are capable of managing and monitoring the academic psychological, mental and physical well-being of the students for all-round development.
E-Commerce
The E-commerce sector has become a great place for applying AI. nowadays AI has become responsible for attracting customers to boarding them safely through the E-commerce channel.
There are various use cases of AI in E-commerce such as demand and supply prediction, customer assistance, intelligent marketing, recommendation system, personalization of chatbots etc.
The biggest example of an E-commerce place is amazon which aims for the continuous development of AI so that it won’t lag in making profits out of the business. Their high-end recommendation system helps the company to attract customers and 24X7 AI-enabled assistance to manage customer requirements and complaints to provide a better user experience.
Agriculture
In the field of agriculture AI has become a game-changing player, where often AI is being used for crop monitoring, predictive analysis and robot tasking. Various systems are developed to find out the attributes of soil, seeds and atmosphere.
A simple example of AI in agriculture is drones where ai is enabled to perform tasks such as water distribution, fertilizer distribution, and detecting faults in crops.
Mechanics
By the end of the ist decade of 21 century, every major company which were manufacturing things had started using artificial intelligence in their manufacturing units and other processes. Also, automobiles are the sub-sector of mechanics which widely uses artificial intelligence not only in manufacturing but also with products. Tesla cars are one of the major examples where projects like self-driving cars, and sleep detection systems are applied with the cars.
Not only inside the cars but also on the outside we can find examples of robots which are well trained to maintain and repair the cars and manufacturing units. Apart from manufacturing systems, we find that artificial intelligence is replacing mechanical components such as pressure detectors, vernier scales, gauges etc. reliability of artificial intelligence is heavily emerging in this field.
Gaming and Sports
AI is not only powering virtual or computer gaming but also empowering physical games. Right from building reports about the players to building reports about the field and atmosphere is done by artificial intelligence. Also, there is various equipment is provided to the players that can coach and guide players well. Streaming of the games in different channels is also AI-enabled.
In virtual gaming application of AI has become so big. Nowadays we are capable to play games that are more responsive, adaptive and intelligent as non-player characters are playing the games as humans can play. AI also takes part in the development of the games. Reinforcement learning is a part of AI which mainly finds its place in virtual gaming.
Entertainment
As the uses of the internet and entertainment are increasing the application of AI is also increasing. Nowadays we can see the effect of AI in online streaming services like youtube, NetFlix, amazon prime and Hotstar.
These platforms are evolved so much so that they can recommend movies according to the user based on their interest. Such recommendation systems are being applied on this platform also just by looking at the demographic information of the users these platforms are capable of telling our interests. Where in recent scenarios we can see that new content is being created very frequently and managing them is become very easy because of applications of artificial intelligence.
Security and Surveillance
In this domain, AI came as an integration of new technology on the traditional one. Nowadays it becomes very easy for us to recognize the abnormalities in our surroundings using artificial intelligence. A huge number of tools such as face recognition tools, and object detection tools are already prepared and there is a huge number which is ready to be developed.
As AI is advancing the security and surveillance system is also advancing. One of the big examples of AI in security is the Indian armed forces and police are utilising AI-enabled drones to capture the activities like illegal border crossing, human trafficking, and illegal good supply. Also, data analysis helps a lot in predicting future crimes.
Space Researches
In space research, AI provides a very helpful hand in scaling vast realms of unravelled and undiscovered planets and universes. There are various companies such as NASA space X and ISRO which are utilising the power of AI in their space research.
For example, the recent project Mars Rovers is successfully implemented because of the utilization of AI. this p[roject helped the scientists to discover huge possibilities in the universe such as researching stars and new planets.
Every space research project are including AI to utilise it right from launching projects in space to analysing and providing results according to the requirement while avoiding human intervention.
Final words
In the article, we have discussed the domains where AI has the majority of applications. Day by day AI is developing and affecting every domain to reach its best performance. As we discussed the market potential, in the future we can see that every company is investing their time and money in the field so that they can enhance their working capabilities and profits.
At DSW, we are democratizing the power of AI through our flagship AI platform UnifyAI which can be utilised to build and solve AI-ML use-cases in any domain of the industry. UnifyAI is an end-to-end AI-enabled solution that takes your use-cases right from experimentation to production with scalability, agility and flexibility and reduces time to market for new use cases.
About DSW
Data Science Wizards (DSW) is an Artificial Intelligence and Data Science start-up that primarily offers platforms, solutions, and services for making use of data as a strategy through AI and data analytics solutions and consulting services to help enterprises in data-driven decisions.
DSW’s flagship platform UnifyAI is an end-to-end AI-enabled platform for enterprise customers to build, deploy, manage, and publish their AI models. UnifyAI helps you to build your business use case by leveraging AI capabilities and improving analytics outcomes.
Connect us at contact@datasciencewizards.ai and visit us at www.datasciencewizards.ai