Applications of Artificial Intelligence in 7 Major Fields

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The future is predicted to be the age of artificial intelligence. We all are witnessing a major change in every walks of life. From waiting to see the weather report at a particular time on TV to just saying, “Alex, How’s the weather today?” everything is witnessing a paradigm shift. In the near future, AI will be the face of many industries. Some of the Applications of Artificial Intelligence are given below:

Banking and Finance:

AI and machine will enhance the Banking and Finance industry by empowering it with various tools like improved customer retention, chatbots, customized Investments, anti-theft algorithms, and smart forgery detection systems. Further, AI can be used to maintain cash accounts, credit accounts, and investment account. Also, it can be used to understand each individual’s overall financial health. AI can keep up with real-time changes and then create personalized suggestions based on new incoming data.

Healthcare and Pharma:

AI can push the health care sector to new heights. It can help healthcare by predicting any defaulters and frauds. There are many features like Claims predictor, Drug Discovery, and Risk profile analyzer using genomics that can increase the accuracy and precision in this field. Further, AI tools can support human health workers to enable faster service, diagnose issues, and analyze data to identify trends. Also, it can analyze the genetic of a person to predict future diseases.

Oil and Gas:

Oil and Gas industries are prone to more accidents than any other field. Sharp and heavy equipment, risky working conditions with drilling and exposure to toxic fumes, etc. have resulted in countless accidents in past. This can be prevented by using AI tools like Drilling/NPT predictor and analyzer and Drilling/NPT predictor and analyzer.

Retail:

In retail AI and machine learning has helped people to maintain their inventory in a more advanced and risk-free way using AI tools for Inventory Management, Adaptive homepage, conversational support, etc. Further, AI in retail includes performing complex data analysis, providing automated systems, and robotics. Also, a lot of companies are now using AI in retail stores through retail robots, AI shopping systems, etc.

IT Sector:

The IT sector relies a lot on AI because of the benefits it provides. A lot of companies are now shifting towards AI-based technology which includes, Success through Sprints, Improvement through deep learning, Business model makeover, etc. Further, it can help you to stay ahead of the curve.

Agriculture:

AI in agriculture can replace human workers with bots. These bots are capable of harvesting crops at a greater volume and at a faster pace than human workers. Also, computer vision can be used to monitor the growth of weed. They can remove them with higher accuracy. Further, Artificial Intelligence is helping farmers and landowners protect their crops from weeds, pests, and birds more efficiently than human resources.

Education:

The use of smart AI-based systems in education streams can greatly improvise the efficiency of many institutions. It can help in lowering their operating costs which will lower student fees. Further, it can identify what each student’s capacities are and where he/ she lacks. Custom Diagnostic testing can be used to do this. Through this technique, it can then help in developing a personalized syllabus based on each student’s specific abilities. It can make education very versatile.

These are some of the Applications of Artificial Intelligence in major industries that will bring growth to the human race in near future.