ai-growth

Industries where AI is set to Grow

Artificial Intelligence has unbelievable potential for what it can achieve. AI, machine learning and deep learning technologies are being adopted by many organisations in completely different sectors.

If we can master AI, then we will be able to automate almost everything. There would be no need for double checking for mistakes, and menial tasks would be completed massively faster and some industries would be totally revolutionised.

Some industries will also be left behind, but it is important to remember that technical progress creates more jobs than it destroys. That said, some people will still lose their jobs to robots.

This list includes the main industries in which developments of AI could transform how all the producers and consumers behave. It is in no particular order.

Health

AI operates the best when there are large quantities of data available, because the more information it has, the better the AI should perform. Hospitals and doctors have been collecting useful data about the members of society for decades.

If AI could have access to all this data, then big steps could be taken for healthcare. Today, medicine is reactive. If you are ill, you go to the doctors and the doctor will prescribe the medicine that you may need.

Thanks to AI, medicine could become proactive rather than reactive because AI does predictive analytics. On top of this, AI can process scans much faster than humans because of image recognition.

There are also those who claim that medicine will become automated, and we could have robot surgeons. This is not very difficult to imagine and considering all of the space missions that humanity undertakes, this could definitely become a reality.

Customer support

Customer support is one of the areas that has already been affected by AI. As more and more people are consuming goods and services online, developing online support is important for companies if they want to keep their customers.

AI intervenes in the form of a chat bot. At the moment, chat bots are not calibrated perfectly, so they can only really suggest links to FAQs based on keywords in your question, and then if you need more help, you are patched through to a human.

In the future, it is entirely likely that chat bots become advanced to the point where you will not be able to tell the difference. In fact, this seems likely as companies have lots of incentive in developing the technology.

Entertainment

Different to the rest of the industries on this list in that it is less financially motivated, it is likely that AI will advance and be able to think of comedy itself. Eventually, we could have completely computer generated films made by AI, with no human input at all.

While it is true that a lot of humour can be based on how much the viewer can relate to the situations and characters, AI excels at absurd humour exactly because there is no human input.

An example of this are the AI meme generators that have surfaced online. A meme is an image with a funny caption. You pick a blank meme template and the AI will caption it. Admittedly, a lot of the memes simply do not make sense but every now and then, the AI will stumble across a very funny meme.

Within the dynamic realm of sports betting apps, the fusion of artificial intelligence is reshaping the landscape. These apps, exemplified by industry leaders like Findbettingsites provide more competitive odds on games or races. Similarly, some betting tipsters use AI to give more accurate predictions to their follows, gather mass amounts of data and using computing power to guess more accurately what outcomes are likely.

There are also Twitter bots that are AI posing as humans, so AI will continue to grow in entertainment and especially in social media. This development is worrying to some degree, and many believe that there is a big risk that we will not at all be able to tell if who we are interacting with online are real humans or simply AI bots.

Banking

Banking is an industry where paperwork is virtually everywhere. Ai can automate this process and do all the paperwork and documentation better and faster than human beings. This enables the banks to not only cut costs on wages but also serve their customers better.

Just like with healthcare, AI’s predictive analysis can be very useful. It can help identify high value customers through data mining and other techniques. Not only that but AI can also analyse spending habits and the like in order to offer a more personalised and better experience for the customer.

Ai tends to be good at predicting the likelihood of individuals paying back their loans based on credit score and history, and if this is combined with the chat bot when AI advances, then the landscape of the entire world might have switched from human interaction being the norm to robotic interaction being the norm.

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Written by:

Stuti Dhruv

Stuti Dhruv is a Senior Consultant at Aalpha Information Systems, specializing in pre-sales and advising clients on the latest technology trends. With years of experience in the IT industry, she helps businesses harness the power of technology for growth and success.

Stuti Dhruv is a Senior Consultant at Aalpha Information Systems, specializing in pre-sales and advising clients on the latest technology trends. With years of experience in the IT industry, she helps businesses harness the power of technology for growth and success.