AI leading the race for future

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AI leading the race for future

Artificial intelligence (AI) is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals. Leading AI textbooks define the field as the study of “intelligent agents”: any system that perceives its environment and takes actions that maximize its chance of achieving its goals.

An AI application currently exists in multiple fields in basic or advanced stage. We have daily encounter with such AI programs such as Web search engines i.e. Google, recommendation systems used by Youtube, Amazon, etc., understanding human speech or voice command like Siri and Alexa, self-driving cars which are currently popular of Tesla, and competing at the highest level in strategic game systems such as Chess and Go.

As those machines become increasingly capable, task considered to require “intelligence” are often removed from the definition of AI, a phenomenon known as the AI effect. For instance, optical character recognition is frequently excluded from things considered to be AI, having become a routine technology.

AI Applications across various Industries

Even though AI has been around decades since 1950s, it gained traction in last two decades. We have witnessed its potential to perform and make the work easier. As we faced, a sudden lockdown in March 2020, it created an emergency need for some software applications around various industries including high demand for education, healthcare, media industry and many more to talk about.

We all are familiar now, with AI applications in our smartphones as we use them on regular basis. It be any application in our phone, it is equipped with AI.

For example: if we search anything on web search engines it will display according to the keywords we entered. On YouTube once we watch a video of a song, then we start getting recommendations related to that. Voice command applications like Apple’s Siri or Amazon’s Alexa are very popular home IoT based softwares applications.

Let’s now jump straight in to the major industries applying AI to make their operations more effective and reliable for users:

1. Healthcare

As the healthcare sector is quite crucial for human and other living creatures on our planet as our health is one of the most important part of our life. Many of the engineering marvels are in practice in medical treatments like body scanning machines (including x-ray machine), ECGR machine, dental checkup and many more on the list. These were then one of the advanced AI machines, but they are now getting upgraded as time passes by.

Now we witness EMR and EHR applications in practice as these help in recording and maintaining records of patient which could be utilized as and when required by the doctor or any medical practitioner. Currently, Healthcare startups are leading the way in this field as they came-up with an intention to solve those issues.

2. E-Commerce

AI proved to be the best for retail and e-commerce sector as it reduced the need for traditional business infrastructure. It bridged the gap between the seller and end-user. It comes with simple interface for the customer to search for the products and services they need.

The product recommendations on Filpkart, Amazon or Zomato account are nothing but a real-time application of complex AI algorithms to determine which products you are likely to buy. New introduction of Chatbots is one those AI programme to provide instant answers to a range of common questions.

3. Food Tech

Food industry is divided in multiple categories and is classified mainly in three categories: agriculture produce, processing and finished product. To start with basic we can have farms which were one of the most disturbed sectors as the revenue generation was the problem. Farms were introduced with data analysis and other technological support by the government as well as startups which helped to develop the quantity as well as quality of the yield.

We are habitual to coffee or tea vending machines in major cities of India and especially in corporate office. These machines run on particular software which follows our command given by pressing the buttons on it. It is just a click and it makes coffee or tea for us.

4. Banking and Financial Services

Since introduction to computer in the banking and other financial sector, we have witnessed a massive turnaround in the functioning of this industry. ATMs (Automated Teller Machines) are not new for us in 2021; it is one of the most convenient service by the banking sector. It saves our time when we want to withdraw or deposit amount in our bank account or print our passbook. But these are the basic models of AI for banking and financial industry.

AI has replaced human agents by conducting the work of ten within just few minutes. Whether it was loan process or cheque clearing system, it made convenient by reducing time and effort to visit any branch.

If we talk about financial sector, it has now AI robots to work 24/7 for investment or withdrawal process. They are able to calculate the risk and growth potential of any stock or service. This makes easier for the end user to make choice without paying any extra charges.

Conclusion

These were some of the major industries using the AI technology at its best to provide the better service to their customers. There are few more industries where we can witness the rise in AI use such as education, manufacturing, logistics and transportation, entertainment, gaming etc.

AI will extend its arms of operations as the need and development process accelerates pace. It will, standout as a technology of decade, if it helps in cleaning the mess we the humans have created in the last few decades under the industrial revolution.

– by Parag Ahire

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