If you are a technology enthusiast, you must be familiar with the buzzwords of this century, i.e., AI and Machine Learning. These technologies have increasingly become common and rampant in every industry as well as the aspects of human lives. From home automation tools to driverless cars and business intelligence, artificial intelligence is arriving faster than humans predicted. So much so, the highest paying job in today’s world is as a machine learning expert. Top companies worldwide are quickly implementing AI, which is going to drive innovations in the future. Let’s look at how AI and machine learning is going to change the future:
AI in Healthcare (Artificial Intelligence)
The future of AI in the healthcare sector will be towards democratising healthcare for both patients and healthcare professionals at the same time, making it less costly and more accurate through AI-led predictive care. Predictive analytics can help understand the factors such as place of birth, eating habits, past diseases, air pollution levels, etc., for better diagnosis. AI-powered healthcare systems in the future can predict the chances of a person developing chronic disease and recommend preventive medication to cure before the disease worsens. New machines and apps developed through machine learning and AI can automate diagnosis and basic medication in the future.
AI in Banking (Artificial Intelligence)
AI and blockchain technology are already making waves within the banking sector. AI is all set to take a pivotal role in the coming years in verticals such as business intelligence, security, and customer relationship. Banks will be using AI and machine learning to personalise their products and services based on user behavior and historical data analytics. In addition, the technology will automate some processes within the banks and save time and costs for customers and bankers alike.
AI in Manufacturing Industries (Artificial Intelligence)
The manufacturing industry is another sector that is going to benefit immensely from the implementation of AI-based bots and other automation tools. From robot-driven assembly lines to machine learning systems that can predict the malfunctioning within the machines, AI is going to drive the future in the industry. AI-powered tools can also resolve supply-chain concerns over a wide geographical area, reducing the shipping and delivery time of the products.
AI in Advertising (Artificial Intelligence)
AI-based tools and processes can automate and streamline campaigns with past data to deliver precise results. Machine learning can help businesses understand their target customer based on their historical data and prepare marketing and sales campaigns accordingly. Reaching out to potential customers, generating leads and sales conversions, identifying the market share for a new product, and competitor research could be streamlined with smart analytics tools and techniques.
AI in Retail (Artificial Intelligence)
The global market share for AI in retail is expected to rise by $5 million by 2022. The technology promises retailers growth with diverse usage possibilities for improved decision-making. The use of artificial intelligence and virtual reality is already transforming the retail experience as we know it. Data analysts use ML technology to understand customer behaviour and offer personalised recommendations making consumer choices easy and meaningful.
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