This is the most happening topic in the world right now and each and every business is trying to implement Artificial Intelligence in their process in some or the other way.
Well if you are not aware of what AI means, then nothing to worry, it is not rocket science:
AI or Artificial Intelligence is nothing but an area of computer science where it gives out an importance to a process where intelligent machines can be built in such a way that they react as like humans.
The process involved in building up smart machines or intelligent machines is to support the decision-making process which is completely analyzed based on the data that is available within an organization. It is the same way humans synthesizing the information and providing an appropriate decision. But in this case, the decision making is done by analyzing tons of data that is gathered.
Using the combination of Artificial Intelligence, Machine learning and deep learning is going to be very useful because they are adding a lot of value to the current process and also providing a thoughtful path for the individuals to move forward.
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Below are the few top 10 reasons where Artificial Intelligence is already in usage and has proven to be more helpful in terms of efficiency and accuracy.
We are now in a digital age where everything could be implemented with the help of technology and Internet. Nowadays we get to see that a doctor can monitor and diagnose a patient from a remote location. This has reduced the necessity of being in person. Image the same way where the patient's health condition is checked against predefined medications and algorithms prescribing a solution to the doctor. This would be a great success in the entire Healthcare industry.
The current healthcare industry is completely dependant on the doctor’s sole knowledge and no supporting decision-making system is available to advise the treatments or the medication. It is completely coming up from the Doctor’s experience and decision.
Imagine a condition where all the patient vitals and health records are pre-analyzed and a personalized treatment plan is produced for the doctor to review will change the entire treatment process.
The smartphone nowadays is not only considered as a communication device anymore it can be called as your digital wallet and much more than that, even we can classify them as your personal assistants.
Well, speaking about personal assistants, it is worth mentioning about “Siri”. It is one of the best examples of proper utilization of Artificial Intelligence and Machine learning. So based on your habits and interests “Siri” will be able to answer all your questions and provide valuable suggestions. This is already happening and this is the start of next wave of technology utilization.
We have seen days where mobile devices didn’t have touchscreens and now we are in a digital age where the majority of the devices are touch screens. The next age of mobiles will be working on the voice commands which is nothing but “Siri”.
This change will be huge and it will completely change the way people are using their mobile phones at the moment.
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If you are updated with the latest technology happenings then you wouldn’t have missed this at all. The concept of self-driving cars and autopilot features are in the news lately and big players like “Google” and “Tesla” are already in this arena.
Have you ever imagined that you will be traveling in a car which doesn’t need a driver to take you from point A to point B. Well, this is not at all a dream anymore, a lot of test runs have gone through were the concept cars going to hit the road soon. This is definitely going to be the future in the automobile industry. A lot more research and development needs to
happen within this area as we have to consider the safety and security aspect of the passengers.
Well, we have to just wait and watch what is going to happen.
This is going to be a huge game changer for all the retail companies because if they understand the purchase pattern and the requirements of their customers, they will definitely have to tailor their process to be the market leader. The Artificial Intelligence concept comes into the picture when the buying patterns are analyzed and understands the needs of the customer.
The retail industry can gain huge profits by properly analyzing the customer needs vs buying pattern and based on the consumption if the system could suggest:
* Relevant coupons
* Promote discounted offerings
* Targeted marketing
* Stocking the warehouses etc.
All of these subprocess with definitely be improved and to be honest it will help the customer a lot.
As of now, we are going towards a clash where the businesses are legally obligated that they are invading an individual privacy by closely evaluating their buying pattern and the products that they buy.
In certain parts of the world, Amazon has started an offer called “Pantry” where they can select few products as essentials and they are automatically delivered to you in a periodic basis. Well, this is a perfect example for introducing the Artificial Intelligence into the process where a better operational and stocking activities are carried out.
The fraud detection activity monitoring systems are actually a boom to the human kind where their money is protected by evaluating the transactions that they make.
Have you ever received an email or a text message from your bank confirming the recent transaction activity was actually made by you or was it someone else who got hold of your card. Well, most of this transaction monitoring is carried out by the fraud detection team which is powered by AI.
The transaction patterns of the individual, the usual withdrawal amount from the ATM and the frequency of the account logins. All of this data is stored and analyzed for suspicious activity. For example: if you have never used your ATM card for years and all of a sudden you have started withdrawing money from your card then this would be definitely flagged as a fraud alert by the system.
So the AI algorithms are developed by considering different scenarios and situations which will ultimately alert the users to be cautious about their belongings. The same technique can be expanded and further used in other industries as well.
Nowadays every business has a website for sure because it has been a need vs a luxury. With the rapid use of smartphones and internet, it has been evident that most of the customers are tending to get information via online interactions rather than phone interactions.
So most of the websites have an online chat system which responds to your queries.
Do you think that a real human is responding back to your queries all the time?
Well, not all the time. To make sure the business is live and active 24/7 days businesses are opting for automated bots which actually does the same job as of a human.
The responses are based on the content available on the website and the same is fed back to the customer based on his or her request. Well, this process is gaining more and more acceptance and the underlying logic is also going through a makeover where it can accommodate more requests and provide more accurate information.
All of this is happening because of the rapid development of Natural Language Processing (NLP).
Safety and security are the important aspects and the basic needs of an individual or for an organization. The surveillance setup, i.e. security cameras monitoring important areas of the business is definitely a better idea. But watching too many screens for a very long time will be a boring job and ultimately we lose the option of attending the emergencies when there is a need.
So what if there are predefined algorithms that are fed into the security cameras and make them more powerful. Based on the surveillance and the activities the system would be able to analyze and let us know whether the situation is actually a threat or not. If it is a threat then it would immediately alert the human security officials associated with the business.
If this sort of technology advancements are available right now then it would have made a positive impact on the security of the individuals and operationally the situation will be handled more efficiently.
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Who doesn’t like watching movies and listening music right?
What if your next song or movie is recommended to you by a system based on your interests and browsing history?
This would be pretty cool right!!!
Well, they are already few mobile applications that understand your choice of music and movies and recommend the same genre as a suggestion. This has been a massive success in terms of sales and promotions of various brands because the target market is available for the brands.
The ads that you have seen on your browsers are also based on your previous activities. All of your activities are analyzed and a chain of recommendations are provided.
With the help of the recommendations, it will definitely help the individuals to explore new options.
Based on your preferences what if your home environment is changed from time to time. Wondering whether this is possible or not?
Well, it is definitely possible. In past few years, we have seen a lot of smart devices coming up in the market which works in line with our preferences. So basically based on your preferred patterns, the lighting in the house and temperature of the refrigerator and other household devices can definitely be monitored and eventually project optimum utilization settings as well. All of this is happening because of underlying machine learning and Artificial Intelligence built into these devices.
If you have been using Gmail’s latest mobile application then responding to your emails would have been really easy and also exciting. So based on your email content, a predefined answer are already pre-populated as tags for you while responding back to the email.
The latest version of Gmail mobile application has drastically reduced the turnaround time in terms of responding an email back. So the mobile applications are evaluating the emails now and giving us appropriate suggestions while writing back to the sender.
Well, the possibilities are limitless and more importantly endless. So we got to wait for the future and see how it is going to affect the human interventions.
The above list is a general observation of how Artificial Intelligence is already taking up its baby steps and improving the current processes. Well, the limitations are endless and one needs to understand to what extent it can be helpful.
Involving and rebuilding the process by implementing Artificial Intelligence and Machine learning will be definitely the future and it makes sense to build the skill in this arena. A lot of possibilities are available where the implementations are not specific to an industry but this can be generalized.
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