Revenue from artificial intelligence (AI) software market is expected to reach $126 billion by 2025.
This show how quickly the use of artificial intelligence is growing. In 2029, Gartner revealed that 37% of organizations worldwide have already implemented AI in some form. We can only assume the numbers have grown exponentially since then.
But where exactly is artificial intelligence applied and how?
In this post, we show you real world examples of AI applications across industries.
Artificial Intelligence In Transportation
Artificial intelligence has disrupted the transportation industry. From enabling vehicles to run autonomously to helping with traffic detection, AI is applied in many fields of transportation.
AI applications in transportation include:
AI technologies have enabled the development of self-driving vehicles, which is perhaps the biggest innovation in the transportation industry. Engineers are building intelligent systems, feeding them vast amounts of data and training them to detect objects and act accordingly, whether it is to speed up, slow down, park the vehicle, etc.
While self-driving cars are still being tested, vehicles with some of the AI-powered functions such as parking, are already available.
Artificial intelligence is already being applied in traffic detection. An AI algorithm can be trained to detect traffic lights. When a car’s camera detects a red light, the car will put the breaks on autonomously.
Automatic Traffic Incident Detection
By combining computer vision with sensors, an AI-powered automatic incident detector constantly monitors all road cameras.
When there is an anomaly in traffic conditions, the system alerts control center operators so they can respond as soon as possible. One such system is ClearWay.
Artificial Intelligence In Healthcare
AI is increasingly being applied in healthcare to help not only with patient care but with administrative issues as well.
AI applications in healthcare include:
AI-driven surgical robots are designed to assist surgeons with the positioning and manipulation of surgical instruments, helping them perform better which leads to better patient outcomes.
These AI robots process millions of datasets and identify critical insights such as, for example, the size of the tissue.
A range of AI technologies such as machine learning and deep learning are used in healthcare to create systems that help accurately diagnose illnesses and, as a result, help treat patients more quickly. For example, Freenome uses AI for diagnostic tests, screening, and blood work to test for cancer.
Virtual Nursing Assistants
A virtual nursing assistant also helps patients identify their illness based on the symptomps they have but it also helps them schedule appointments and monitor their health. Available 24//, it can answer a patient’s questions at any time.
Examples of virtual nursing assistants include Sensely and Buoy Health, which involves a chatbot that listents to a patient’s symptoms and then guides the patient to to the correct care.
Artificial Intelligence In Business
Artificial intelligence is widely used in business to eliminate repetitive tasks, save time, and improve the quality of service.
AI applications in business include:
Smart Personal Assistants
Smart assistants Alexa and Siri are already widely used not just in business but individuals anywhere. These assistants save time by performing simple tasks such as:
- checking your emails
- sending messages
- scheduling a call
- placing orders
Artificial intelligence is also applied in video surveillance. AI closed-circuit television (CCTV) cameras analyze the sound and images from video surveillance to recognize objects and humans.
Chatbots are already a mainstream occurrence in the business world. Many websites have an AI-powered customer support representative nowadays that can answer questions and provide assistance 24/7. This enables businesses to be available for their customers day and night, regardless of their rgeographical location.
AI is successfully applied in marketing to enable personalized ads and messaging. AI analyzes a suer behavior to see what they’re interested in, and then displays relevant ads for that user.
Artificial Intelligence In Finance
The finance and banking industry has found a way to leverage the power of artificial intelligence and streamline tasks and save money. In fact, according to Business Insider, AI applications will save financial institutions about $447 billion by the year of 2023.
AI applications in finance include:
Banks are using AI algorithms to determine whether someone is eligible for a loan and to provide personalized options too. An example of such a system is Enova.
Anti-Fraud Detection Solutions
AI-powered fraud detection systems are programmed to analyze a person’s buying activities and alert the bank if there is a suspicious activity. An example of a fraud-prevention solution is Riskified.
Artificial Intelligence In Education
Artificial intelligence is applied in education to not only assist teachers not only in grading and tutoring but to enable personalized learning and more.
AI applications in education include:
One of the biggest advantages of artificial intelligence is the ability to automate repetitive tasks which saves a lot of time. For example, teachers can rely on AI algorithms to automate grading for testings such as multiple choice tests.
An example of a tool for automated grading is GradeYourTest.
AI enables universal access to classrooms, including students who speak a different language or have visual or hearing impairments. For example, PowerPoint features a Presentation Translator which provides real-time subtitles for what the teachers is saying.
AI is also used to facilitate personalized learning by identifying areas that represent a weak spot for the student.
Artificial Intelligence In Entertainment
Artificial intelligence has found many applications in the entertainment industry and has changed both how we create content and how we enjoy it.
AI applications in entertainment include:
Thanks to AI, both audio and visual content can be customized according to the user’s preferences. Using machine learning and deep learning, AI algorithms help provide a tailored experience to each user thus helping entertainment companies to provide a better service.
For international audiences to enjoy a movie, the content must include multilingual subtitles. Transcribing the shows manually would take a tremendous amount of time.
AI-based technologies enable automated subtitle generation so audiences around the world can enjoy the same content without a language barrier.
Looking to explore AI in entertainment? Read our article about AI in metaverse.
Artificial Intelligence In Law
Legal operations are becoming automated as well thanks to artificial intelligence. AI is used to streamline numerous tasks, provide fast service to clients, and improve operation altogether.
AI applications in law include:
Chatbots or lawyer bots help lawyers provide legal help without investing time or effort. It also helps make legal help accessible to everyone who needs it. These AI-powered software can also perform automated tasks such as preparing invoicing for clients.
An example of a lawyer bot is DoNotPay.
Lawyers use AI-powered document management software to help create, store, and organize all types of files. Thanks to tagging and profiling features, these systems make documents very easy to find thus saving a lot of time.
An example of such a document management system used in law is Legito.
Artificial Intelligence In Manufacturing
Artificial intelligence has already become indispensable in manufacturing, automating difficult operations, increasing throughput, and eliminating human errors. According to a research conducted by Deloitte, 83% of organizations think AI has made or will make a visible impact in manufacturing.
AI applications in manufacturing include:
AI enables manufacturers to monitor their warehouses constantly and automate tasks such as stocking up ahead of time, lifting and sorting items, as well as a range of other tasks. These systems gather data in real time so manufacturers can stay on top of things at all times.
Supply Chain Optimization
AI technologies are successfully applied in supply chain optimization allowing manufacturers to deliver items to customers faster than ever before. This saves time and reduces guesswork as AI-powered systems can answer all sorts of questions including how many parts to order or what is the optimum shipping route for an item.
AI-powered systems collect data including audio and video and can spot any anomalies or equipment inefficiencies early on, before they start malfunctioning. This reduces downtime and helps avoid costly repairs since fixing a machine is more affordable than purchasing a new one.
Wrapping Up On Artificial Intelligence Applications
Artificial intelligence is the simulation of intelligent human behavior by machines. These technologies are already being used across industries including:
Considering how rapidly AI technologies are developing as well as the forecasted spending on AI, it is clear that AI applications are only going to grow in the future.