Artificial Intelligence is a process of using Machine Learning, Deep Learning, Natural language Processing, and many other technologies to create artificially intelligent processes. These processes can perform advanced computations and solve complex issues. In this blog, we discuss how we can use AI application of artificial intelligence in various industries and revolutionize the way we function.
Artificial Intelligence Across Industries:
Banking
AI is extremely popular in Banking. The use of AI for fraud prevention is not a new concept. In fact, AI solutions are there to enhance security across a number of business sectors, including retail and finance. By tracing card usage and endpoint access, security specialists are more effectively preventing fraud. Organizations rely on AI to trace those steps by analyzing the behaviors of transactions. Companies such as MasterCard and RBS WorldPay have relied on AI and Deep Learning to detect fraudulent transaction patterns and prevent card fraud for years now. This has saved millions of dollars.
Marketing
Marketing is a way to sugar coat your products to attract more customers. We, humans, are pretty good at sugar coating, but what if an algorithm or a bot is there solely for the purpose of marketing a brand or a company? It would do a pretty awesome job! In the early 2000s, if we searched an online store to find a product without knowing it’s exact name, it would become a nightmare to find the product. But now when we search for an item on any e-commerce store, we get all possible results related to the item. It’s like these search engines are reading our minds! In a matter of seconds, we get a list of all relevant items. An example of this is finding the right movies on Netflix.
Agriculture
Here’s an alarming fact, the world will need to produce 50 percent more food by 2050 because we’re literally eating up everything! The only way this can be possible is if we use our resources more carefully. With that being said, AI can help farmers get more from the land while using resources more sustainably. Issues such as climate change, population growth, and food security concerns have pushed the industry into seeking more innovative approaches to improve crop yield. Organizations are using automation and robotics to help farmers find more efficient ways to protect their crops from weeds.
Finance
Ventures have been relying on computers and data scientists to determine future patterns in the market. Trading mainly depends on the ability to predict the future accurately. Machines are great at this because they can crunch a huge amount of data in a short span. Machines can also learn to observe patterns in past data and predict how these patterns might repeat in the future. In the age of ultra-high-frequency trading, financial organizations are turning to AI to improve their stock trading performance and boost profit.
Health Care
When it comes to saving our lives, a lot of organizations and medical care centers are relying on AI. There are many examples of how AI in healthcare has helped patients all over the world. An organization called Cambio Health Care developed a clinical decision support system for stroke prevention that can give the physician a warning when there’s a patient at risk of having a heart stroke.
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