The Fields Where Artificial Intelligence is Being Used Today.
The Development of AI In Many Sectors Today
It is common knowledge that Artificial intelligence (AI) has been advancing rapidly in recent years, with new developments being made all the time. Artificial Intelligence development continues in all fields from financial to healthcare, from space exploration, to manufacturing automation, and most people realize that the benefits of using the convenience AI far outweigh the risks.
This has led to a wide range of applications for AI in a variety of fields, which continue to grow, and you will find some of the most popular and useful applications on this website for business and individual use.
Here are a summary of five of the current fields where AI has made significant advancements of late:
-In Healthcare, Research and Medical technologies
AI-powered image recognition body scanning X-ray systems can help doctors to streamline radiology, so as to identify diseases, abnormalities, and to identify cancer cells and health issues more accurately than they could in the past.
Development is currently ongoing in this field and exciting things will be available in the future of this and other technologies in the medical field. For example, the company ‘PathAI’ has already developed an Artificial Intelligence system that can identify cancer cells in tissue samples with 99% accuracy.
AI is also being used in medical research to develop new drugs and therapies, vaccines and treatments.
For example, researchers at Google AI have developed an AI system that can predict the effectiveness of new cancer drugs with unprecedented accuracy. This system has the potential to save millions of lives by helping doctors to select the most effective treatment for each patient.
-In Fields of Finance and Banking
AI-powered trading algorithms can now make trades faster and more accurately than human traders in the markets through the use of predictive data analysis. For example, the company ‘Kensho Technologies’ has developed an AI system that can trade stocks with a profit margin of 20% quite accurately using world data.
This system is now being used by some of the largest investment banks in the world to trade effectively and manage portfolios. Artificial Intelligence is also being used to develop new financial products, such as insurance policies that are tailored to individual customers.
For example, the company ‘Lemonade’ has developed an AI-powered insurance company that offers insurance policies, and other contracts that are customized to each customer’s individual needs.
-Transportation Individual and Commercial
AI is being used to develop efficient self-driving cars, which have the potential to revolutionize transportation. Much of this is still in its testing stage however. Self-driving cars could make our roads safer, reduce traffic congestion, and make it easier for people to get around, with less incidences of accidents and fatalities.
Artificial Intelligence is also being used to optimize traffic flow. For example, the company ‘INRIX’ has developed an AI-powered traffic management system that can predict traffic congestion and reroute drivers around it. This system has the potential to save drivers time and money and even fuel while reducing traffic congestion.
-In Manufacturing and Automation
We all know that AI-powered robots can now perform tasks quicker and more efficiently that were once done by humans, such as welding and assembly for examples. This has led to a significant increase in manufacturing efficiency and productivity, with the reduction of risk to humans for many dangerous tasks.
AI is further being used to develop new manufacturing processes, such as 3D printing. 3D printing is a process that can create objects from digital designs and many advancements are being made as artificial intelligence programs streamline this process.
This process has the potential to revolutionize manufacturing in the future, by making it possible to create customized products at a fraction of the cost of traditional manufacturing methods.
-in Business for Customer Service
AI-powered Chat-bots can now answer customer questions and provide support in a variety of languages quite accurately too. No doubt as an online shopper you have already encountered one being used by a business?
This development has led to a significant improvement in customer service efficiency and satisfaction. AI is also being used to develop new customer service tools, such as sentiment analysis software that can help customer service representatives to better understand customer feedback.
This software can help representatives to identify and resolve customer issues more quickly and effectively. These are just a few of the many ways that AI is being used to improve our lives.
As AI continues to advance, we can expect to see even more innovative applications in the years to come. These are just a few of the many fields where AI is making a significant impact but as time goes on Artificial Intelligence will become more prominent in our lives perhaps with some startling new developments. Visit our Business Tools Here