Before tech industry companies fully leveraged the promise of these two technologies, the terms artificial intelligence (AI) and machine learning (ML) were only buzzwords.
Machine learning and artificial intelligence are being prioritised by every primary giant business you can think of. To enhance their capabilities and performances, smaller companies and startups are currently using the two technologies more and more.
According to a recent Gartner, Inc. prediction, worldwide Artificial Intelligence (AI) software revenue will hit $62.5 billion in 2022, a 21.3 per cent rise from 2021. Artificial intelligence has been part and parcel of our life even before we realised it. People use these technologies to be efficient and decisive. Anything cannot run without friction when AI processors enter the scenario.
Almost every industry needs AI, and support is crucial in taking the technology one step higher. Here are a few to prioritise an efficient business-making world:
Five Industries that Growing with AI
1. Healthcare with Artificial Intelligence:
The healthcare industry is already experiencing the game-changing effects of artificial intelligence. After effective months of research, even doctors were unable to accurately identify the existence of a rare kind of leukaemia in a patient, but cognitive supercomputers technology were.
With electronic health data in place, artificial intelligence and ML technologies are just now making individualized healthcare a reality. Additionally, the field of predictive healthcare is gradually gaining ground.
AI bots help hospitals to understand patients and screen accordingly to the doctors in a better way. Healthcare has a boom with AI technology.
Also Read: Detailed explained about the Future of AI in Healthcare
2. Finance Blends with Artificial Intelligence:
For various goals, finance has always required one of the most accurate computing systems. When it comes to AI and ML, the banking industry will significantly rely on the systems driven by these technologies to identify fraudulent transactions and open the door for better and more stable online transactions.
Additionally, it can forecast market fluctuations in stock prices and support financial advisors in creating the best investment strategies.
3. Advertisement in Creative with Artificial Intelligence:
Rather than investing thousands of dollars on a campaign to see if it would be effective with a specific pool of target audience, AI-powered systems would effectively mimic the movement with previous data and give exact findings.
This would be a game-changer in marketing since companies and brands would have a safe investment option. Advanced AI tools and approaches might make reaching out to potential consumers simpler, generating leads that can be converted to sales, determining the market share of a new product before launching, and conducting competitive research.
4. Agriculture in Making with Artificial Intelligence:
By 2050, it has been predicted that our globe will require 50% more food than is now produced. Again, artificial intelligence (AI) may hold the key to completing this problematic endeavour.
AI might help the agriculture business face many challenges by boosting productivity, lowering operating costs, and improving the efficiency of cultural practices.
The latest IoT-based AI modules provide information on the soil profile and support applications for crop management, fertiliser optimisation, climate forecast, and organically grown food.
5. Army in Artificial Intelligence:
Multi-agent Robotics Framework (MARF) is an AI-driven multi-layered framework that offers a wide range of military applications. It will allow collaboration among the many types of robots previously produced by the Indian military. Among these are the Snake Robot, the Legged Robot, the Wheeled Robot with Passive Suspension, the Wall-climbing Robot, and the Robot Sentry.
Artificial intelligence assists in developing unmanned military operating systems for the many sorts of terrain in the nation. To make a breakthrough in this field, a lot of research is being done on locomotion technology.
Conclusion:
Instead of seeing them as short-term expenses, businesses are beginning to see them as long-term investments. Data capture is becoming easier as IoT devices become more efficient. This has raised a demand for AI and machine learning applications in all smart devices.
AI-based jobs are data-intensive, power-hungry, and require faster processing speeds. As a result, specialised hardware systems, known as AI accelerators, are employed to handle AI workloads more quickly and efficiently.
Authored by:
Abhigna Arcot
Senior Content Writer
