Artificial intelligence (AI) is an umbrella term for computer systems that are smarter than we are, and can perform tasks that require human intelligence or which normally require human intelligence. The most common types of AI are machine learning (ML), natural language processing, speech recognition, etc. A wide variety of opportunities exist in the area of AI. For example, new applications for artificial intelligence are emerging, such as robotics, medical diagnostics, and facial recognition software. In addition to these opportunities, there is also great demand from customers who want a better experience with their products. Examples of this include online retailing, virtual assistants, online marketing, eCommerce, customer support services, supply chain management, and so forth.
AI
AI applications vary widely in function and complexity. However, the broad categories of AI applications are broadly classified based on three components: task, system, and environment. These components are further categorized into specific goals that are usually described via metrics. Specific goals that may be used include personalization and prediction, risk modeling and optimization, anomaly detection, fraud discovery, and other analytics use cases. Each category may or may not have specific goals, but it’s generally believed that they all have similar primary capabilities of providing a more accurate service to end-users and identifying opportunities for improvement.
The goal of AI systems is to improve upon humans using tools of predictive analytics, decision-making, and problem-solving. By creating technologies that are smarter and smarter, customers benefit from higher quality, faster delivery, lower costs due to less labor, and improved efficiencies. Although AI-powered technologies are often referred to as intelligent agents, they differ from traditional robots where they act to perform specific functions. Because of this, many organizations have turned to AI-powered technologies to augment the existing workforce.
The top trends in artificial intelligence market growth are around the field of medical imaging. Artificial intelligence systems are being applied in image analysis, drug discovery research, computer vision, and more. The latest machine learning systems are being used in both diagnostic and therapeutic applications of medicine to improve medical imaging and medicine services.
As data analysis continues to become increasingly sophisticated, the ability to store and analyze large amounts of data at high speed is no longer a luxury: businesses across industries are now looking to implement AI techniques to optimize their business processes. Healthcare professionals, including radiologists, doctors, radiology technicians, and other healthcare professionals are beginning to utilize AI for their clinical needs. As an industry leader, Google has been offering healthcare professionals the best tools, resources, and education around AI technology since 2014.
As the largest provider of cloud solutions for healthcare providers, Google Cloud provides access to a range of advanced artificial intelligence (AI) resources that enable enterprises to find out how their people work and make them smarter. Google Cloud offers free AI services for data science, machine learning, automation, and visualization. According to Gartner, AI will contribute $38 billion by 2020 in revenue and $52 billion to 2025 in value as companies adopt intelligent technologies. This amount is expected to increase to $70 billion by 2021, and the global reach of artificial intelligence would reach nearly 3 million devices by 2020.
Artificial intelligence is used for everything from predicting customer behavior and providing recommendations on what to wear to help financial advisers make smarter decisions to supporting automated factory work and more. In its purest form, artificial intelligence is a powerful tool for empowering several different industries to automate repetitive activities and provide greater performance and productivity to employees.
Artificial intelligence (AI) has evolved over the past several decades by combining various techniques and technologies including computer science and engineering to create cognitive computing systems. Today, computers can learn from experience and make decisions without being explicitly programmed. At present, Artificial Intelligence is mostly seen as an analytical process, rather than a “black box” where programmers have full control over the process. Companies in every sector are realizing the benefits of developing AI applications with increasing frequency. Here are some of the key benefits that AI systems bring to businesses:
Businesses gain insights from data and are given better data analysis tools. Businesses have far more information available than ever before when it comes to conducting business analysis. When looking at the volume and nature of data presented by an organization in terms of data analysis, no company has ever had this level of data and data analysis.
Organizations such as banks, insurance agencies, energy firms, and weather forecasting departments have billions of records, each containing vast quantities of valuable data. To understand what factors influence future events, organizations need to take advantage of artificial intelligence to conduct huge leaps of insight. Through these efforts, business analysts and business managers can gain valuable knowledge about their companies, and the way to improve them.
Aids-related deaths are greatly reduced through AI-driven prevention and intervention programs and treatments. With approximately 5.9 million preventable deaths caused by HIV/AIDs worldwide, preventing and reducing these fatal diseases can help to save billions of lives. Even though HIV/AIDS remains the greatest health threat to women across the globe, HIV/AIDS is one of the world’s most devastating infectious diseases. While a universal cure is yet to be developed, recent success has led to the development of vaccines that are designed to protect against HIV infection.
With the help of current technology, these vaccines have proven effective in decreasing the incidences of HIV infection due to the development of drugs such as antiviral pills and prodrugs. Studies have shown that, within months of receiving antiretroviral treatment, many HIV/AIDS patients begin to experience undetectable levels of viral load, ultimately leading to the complete reversal of the HIV infection. Artificial intelligence-based prevention programs can now be utilized to effectively reduce the number of preventable deaths caused by HIV infection.
The US military uses artificial intelligence in conjunction with other forces to provide unprecedented support to those on the battlefield. Artificial intelligence systems are trained by real-world situations, and they are designed to operate with extreme accuracy and efficiency. Military leaders have benefited immensely from artificial intelligence and have significantly decreased time lost on the battlefield. Machine Learning Systems allow troops to stay focused on the battle and operate during the most difficult times while enabling soldiers to accomplish their mission faster.
Additionally, soldiers can be assigned specific roles at each location and each unit, which allows commanders to command the entire platoon while maintaining operational control over the deployment. All of these features have come at a cost, however. Soldiers must adapt to changing environments, deal with physical injuries, and maintain combat readiness during missions. Soldiers can easily fall prey to enemy fire, get injured, or become incapacitated during their operations.
Unfortunately, these challenges often occur at night, when artificial intelligence systems often struggle to respond when the enemy fires at close range. Even worse, their systems are unable to recognize threats that come from other squads, other units, or unknown adversaries that could cause havoc. That is why the United States Air Force trains thousands of pilots, artillerymen, combat controllers, signal interpreters, electronic warfare specialists, and more.
They train each day and then practice their skills in simulated mission scenarios. As for artificial intelligence systems, these pilots receive real-world training, and they go through rigorous tests to ensure their skills are perfect. Ultimately, it’s these pilots who serve on the front lines, risking time and equipment, physical and emotional exhaustion, and death on battlefields.
Artificial Intelligence Systems Are Used Around Every Industry
Artificial Intelligence is an extraordinary phenomenon in modern society; it makes sense that it would be adopted by almost every industry to make business more efficient. There are countless ways in which the commercial sector can benefit from artificial intelligence integration, whether big and small businesses opt to combine it with smart technology or even invest in start-ups that offer artificial intelligence resources to clients. But regardless of whether you’re involved in business development or customer acquisition, you should know that artificial intelligence is here to help you achieve your goals and drive your success. Here are just a few of the many sectors Artificial Intelligence can enhance in the future:
1. Banking & Financial Services
The banking and finance industry is undergoing a massive transformation and growing rapidly as businesses seek the best possible experience from their clients. Currently, it’s possible to use various banking apps and websites, which helps to simplify the transaction process but leaves out the need to develop proper communication between the bank and its client. From chatbots to voice search, AI allows you to interact with your customers within any type of messaging app while keeping personal details confidential. You can ask them questions (or even perform simple tasks), make payments, add funds, or connect with your accounts. It’s not uncommon for the most important documents to only be emailed to you through email, but according to Bloomberg, 40 percent of consumers prefer a human touch for transactions. Some banks and credit unions have already started implementing AI by creating chatbots to assist their customers while saving money.
2. Energy/Electricity and Utilities
One of the main obstacles that prevented utility workers from doing their jobs was the lack of time for the last century. Workers spent up to 12 hours per shift performing menial tasks like counting, reading, filing and writing down numbers. While that work helped keep the lights on, it made little impact on their overall job satisfaction as well as their motivation and morale. And in the absence of proper compensation and healthcare, it caused workers to lose sight of why they were working in the first place. In 2014, IBM Watson became the first AI algorithm to win Jeopardy! prize after competing with four thousand contestants across the country. Watson won after answering the question “What is life?”. Another game called Think Big won the 2011 American Banker Magazine Insurance award after defeating 400 entrants in nine minutes. Think Bully, another game that took place in 2012, was named Computer Gaming Emerging Product of the Year after winning the 2013 CES Innovation Award for making two million dollars worth of games. One of
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