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Top 8 Applications of Artificial Intelligence

Artificial Intelligence (AI) is the ability of machines to display human-type intelligence such as recognizing patterns in a dataset and drawing insights from it. For instance, autonomous machines or systems that operate on their own can be classified as applications of AI. With the help of AI, machines can make decisions and take action based on their training pattern.

 

AI-driven systems are becoming incredibly popular as automation makes things easy for humans. AI also eliminates multiple repetitive tasks from both professional and daily lives. The objective of AI is to allow humans more time to spend on things that matter while allowing AI to take care of repetitive and iterative tasks.

 

We have come a long way in terms of technological progress in the field of AI and sectors such as Manufacturing, Engineering, Defence, Robotics, Finance, and Space Exploration have gotten significant assistance. AI applications have significantly evolved in last couple of years and in this article, you learn the top Artificial Intelligence applications in the real world.

Concept of artificial intelligence

The concept of Artificial Intelligence is that machines can be programmed to perform tasks that normally require human intelligence, such as problem-solving, learning, and decision-making.

 

AI has been used in many different ways since its arrival on the scene. Some examples of AI include: computer vision, natural language processing, and machine learning.

 

Our extensive course on Artificial Intelligence and Machine learning is very helpful to make a career in AI and learn about the future of artificial intelligence.

 

Let’s now take a look at how the application of AI is used in different domains.

8 Current and Near-Future Real-World Applications of AI

AI has hundreds if not thousands of theorized applications. A big chunk of them have already been applied in the real world and have experienced tremendous success. AI is used across sectors such as marketing, agriculture, IT, telecommunications, customer service, education, manufacturing, analytics, finance, robotics, healthcare, and more.

 

The list goes on when it comes to AI-driven systems as AI has been rapidly being adopted everywhere. AI can be integrated into any process with repetitive tasks or can be used to automate ones that follow a workflow. Fundamentally, if the amount of variation in the set of actions is not too high and if the training data is of high quality, AI can be implemented everywhere. Here is the list of the top applications of AI.

 

Let us check some of the latest real-world applications of AI:

  1. Applications of Artificial Intelligence in Manufacturing and RPA

    Manufacturing is one of the sectors that has benefitted the most from AI and hyper-automation. With the help of automated evaluations, monitoring, and maintenance, companies also save a lot of money and time. Production can be assisted by robots and arm-like machines. It is one of the most useful applications of AI.

    When it comes to Robotic Process Automation or RPA, companies from all across the globe have invested in automating various repetitive tasks. Analog and manual business tasks will also eventually become automated with bots or AI-driven digital robots.

  2. Applications of Artificial Intelligence in Cleaning and Hospitality

    Companies such as Walmart have started adopting AI-driven robots for cleaning their stores, while hotels have started using robots for delivering products to their patrons. Even restaurants are using AI-driven cooking robots and robotic servers.

    It is an amazing time to be alive as we slowly see AI-driven machines take over all kinds of service tasks around us, giving us more time to relax. There are even robotic dog feeders, robotic nannies, and cleaning bots for personal homes. It is one of the most useful applications of AI.

  3. Applications of Artificial Intelligence in Logistics and Warehousing

    With the AI industry trends we are noticing in computer vision and Deep Learning, it is expected that we will be able to use robots and drones for complex deliveries soon. This is especially useful for reaching locations that humans cannot easily access.

    With more trained AI robots, companies can delegate warehousing duties as well. Robots now being developed are extremely effective, as products or goods can get heavily damaged otherwise. This is especially true for stuffed warehousing spaces and heavy materials. This is a very widely used Artificial Intelligence application in almost all industries.

  4. Applications of Artificial Intelligence in Medical Research and Healthcare

    Artificial Intelligence applications is diverse in the healthcare sector. AI and techniques such as Machine Learning or Deep Learning are also used for studying diseases, simulating side effects, developing vaccines, and researching genomics as well. Treatments, patient monitoring, and especially diagnosis have benefitted a lot from various applications of AI.

    Hospital administrations also end up saving more money with more efficient use of resources and the staff can provide better critical care to patients. Even though ML and AI are not replacing medical staff anytime soon, these systems do help make the jobs easier to do for medical personnel.

  5. Applications of Artificial Intelligence in Cyber Security

    Another sector where Artificial Intelligence applications have found prominence is the cyber security. Hackers have been getting better at accessing protected data and it is becoming easier to find vulnerabilities inside systems. However, companies trying to secure their digital assets have also started automating the identification of these vulnerabilities and security compromises. With AI, companies can easily identify bugs, loopholes, and glitches that can allow hackers to penetrate the cyber defences of an organization. It is one of the most useful applications of AI.

    AI also helps power systems to handle real-time threats by securing compromised areas immediately. This helps companies save both time and money by not needing to depend on security analysts as much.

  6. Applications of Artificial Intelligence in Customer Service

    AI has been used for implementations such as chatbots and service representatives for quite some time. In modern times, companies have even started relying on AI for advanced technical assistance and customer support.

    NLP (Natural Language Processing) and NLG (Natural Language Generation) are two important domains that are enabling better customer service and are promising more innovation in this sector. Our voice assistants will also get more advanced and powerful. Google has recently come up with a concept (Year in Search 2024) of providing insights based on last year’s activity, thus helping you make better decisions in 2022 and the years to come.

  7. Applications of Artificial Intelligence in Creative AI

    Creative AI is another application of AI. Even though AI is generally used for repetitive tasks and exploratory processes, AI can also be trained to be creative. AI has already started generating artwork or 3D models and the creative abilities of these AI systems are increasing.

    These artificial artists can now create vastly different artwork and concepts that are far away from the original training data. Similarly, AI-powered tools are also capable of making content, writing stories, and producing music.

  8. Applications of Artificial Intelligence in Education and Training

    Education is one of the main sectors where AI application will be used to its full potential. AI can provide unbiased assessment in education This is great as every student will be receiving the same amount of attention and be treated equally.

    Now, coming to the technical side of things, AI can be used for advanced applications of AR or Augmented Reality. AR and even VR (Virtual Reality) have been proven to be excellent for educating children as well as for training working professionals. With VR, we can emulate hands-on experience and we can be taught by artificial instructors or teachers.

    Initially, AI was only used for engineering, research, analytics, and some niche domains. However, in the recent decade, the average human has become highly dependent on AI as well. AI-driven systems are assisting us on our phones, inside our applications, in our offices, and inside our homes.

AI’s growing impact on various industries

Artificial intelligence is being used in a wide range of industries and applications. From the medical field to the automotive industry, here are a few examples of the future of artificial intelligence:

 

  1. The automotive industry:  The automotive industry has been using traditional manufacturing methods for decades, but now they’re turning to AI applications for growth and future of artificial intelligence. This includes making cars that can drive themselves and even helping drivers avoid accidents by analyzing data from sensors and cameras.
  2. The financial sector:  The financial sector is also starting to catch up with other industries to implement AI applications into their workflows. Some banks are even starting to use AI applications that can analyze customer data in order to provide better choices, serving the future of artificial intelligence.
  3. Healthcare industry: The healthcare industry has been implementing AI applications to improve patient care as well as reduce costs associated with maintaining patients’ health records. For example, they use AI applications to provide personalized treatment recommendations based on real-world data collected from hundreds of thousands of other patients.

Significance of AI applications

The future of artificial intelligence is bright as AI is improving our lives by making us more productive. For example, AI applications can be used to analyze data and generate reports automatically. AI applications can also be used to improve customer service interactions by providing real-time responses based on previous interactions.

 

Another way that AI will make our lives better is by allowing us to accomplish things that would be impossible without it. For example, AI applications have been developed that can predict what movie you’ll like based on your past preferences or moods. They can even help you find new music or books based on your favorite authors or genres!

 

The biggest impact of AI will likely come from technological advancements such as self-driving vehicles, which could reduce traffic accidents by 90%. There are also many other AI applications in medicine and other areas where human error can cause harm or death.

 

To learn more about such insightful AI applications, read our guides on:

 

Data Warehousing and Data Mining

What is Data Warehouse

Data Visualization Tools

How AI is Transforming Different Industries

AI has had a tremendous impact on companies across industries. Many sectors have started setting benchmarks that require AI-enabled technologies in daily business operations. Using AI has become the industry standard in recent times.

 

Let us take the example of the security and surveillance industry. Security solutions companies of all sizes (large, medium, or small-scale) in this industry have started providing their clients with AI-driven systems. A lot of these AI solutions are software-based and are prepared by security companies themselves for facial recognition and object detection.

 

The security technologies that were only available to MNCs with big budgets and the authorities (Police/Military) are now available to smaller businesses and homeowners as well. AI has become essential and a necessity rather than a luxury or an experimental product. From monitoring factories and project sites to securing smart homes, AI is being used for more robust security solutions.

 

AI also empowers companies with the ability to gain crucial insights from data in an automated fashion. Data-driven decisions help companies by giving them an edge over their competition. Thus, very effective business decisions can be made with the help of real-time insights gained from large data sets, which is only possible with AI. Many industries that use analytics have started using AI for processing, analyzing, and visualizing data.

 

Another one of the important Artificial Intelligence trends that we have been seeing is its adoption in daily business processes and even in our day-to-day lives. The way we interact with our applications and our devices has completely changed. Tasks are easier to complete, and we can access digitized content and media quicker than ever.

 

In manufacturing and production, autonomous robots and machines have started replacing humans as these machines are faster and more accurate. Similarly, autonomous vehicles and drones are becoming more and more popular. According to Tesla, the chance of an accident is reduced by ten times if a Tesla’s autopilot is engaged.

 

The current trends in Artificial Intelligence within the healthcare sector imply that around 33% of clinical tasks can be automated easily. This will help save the precious time of clinicians and doctors. Tasks such as imaging, diagnosis, and analysis can be finished in record time, providing a better healthcare experience for patients.

 

Many hospitals still rely on analogue systems and manual updates, but this will soon change. For example, doctors can save up to 50% of their time by not needing to update EMRs or take notes.

 

Facts and Figures Around AI

The global market for AI is growing at a rapid pace. Just the global AI software market’s revenue (not all AI-driven services) is estimated to grow by 21.3% from last year (2021). Based on Gartner’s estimates, the global AI market will touch $62 billion in 2022.

 

MNCs, startups, and governments are investing in this sector and thus, innovation too will never cease in this sector. Individually, AI will start making more inroads into the markets of all other IT and communications processes. For instance, AI’s market in the telecommunications industry is expected to grow at a massive CAGR (Compound Annual Growth Rate) of 47.33%.

 

Other AI-driven sub-fields have also witnessed tremendous growth and progress. Let us take the example of how much we have been relying on our virtual assistants such as Siri (or Google Assistant or Alexa) and AI-driven searches on platforms such as Google Search. The global revenue of the virtual assistants market has increased by 14.7% in 2022 to a massive $7.12 billion.

 

Modern problems require modern solutions. Thus, in a similar fashion, knowledge management systems (KMSs) have grown extremely fast as well. KMS grew by 31.5% in 2022 to a whopping $7.18 billion. This is a huge difference from last year’s (2021) 17.5% growth.

Conclusion

AI applications are changing our world for the better. From self-driving cars to smart speakers and personal assistants – the future of artificial intelligence is going to be extremely impactful. They’re also making our jobs easier, whether that’s writing articles or teaching children with the help of future AI technology.

 

The future of AI is bright because it has the potential to solve some of society’s biggest problems, including climate change and food security. But we need to be careful about how we implement these technologies.

FAQ's

AI is changing the way we look at fraud detection. It has already been used to identify fraudulent schemes and predict future trends in fraud. It can be used to detect:
  • Fraudulent transactions
  • Fraudulent account creation
  • Money laundering operations
  • Phishing attacks
AI is allowing financial institutions to make better decisions, improve customer experience and increase profitability.
AI is transforming the retail experience, enabling consumers to interact with brands in new ways that enhance their shopping experience.
  • Improving customer service
  • Making shopping easier
  • Providing customers with more personalized recommendations
  1. Diagnosing diseases based on symptoms and medical history.
  2. AI can help identify diseases based on images taken from CT scans or X-rays.
  3. Another AI application is used to predict heart attacks before they happen by analyzing blood pressure readings etc.

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