Growing up, did you ever dream of getting a robot assistant for yourself? Who knew that one day this dream would come true! Today, Alexa and Siri, both AI applications, have proven to be our personal assistants. While they may not be able to grab you a cup of coffee, they sure can order it for you. A touch away, they have made our lives easier.
What may have seemed and considered magical a few decades ago is quite ordinary today. Spaceships, teleportation, and assistant robots are not limited to sci-fi movies anymore. Today, humans can reach for the stars and explore previously unknown worlds. Unfortunately, human teleportation is not a possibility – yet. However, there is something called Quantum teleportation. It is a method that has opened up many new avenues of communication. Allowing people to share information from one place to another at unimaginable speeds.
This brings us back to the question – What in the world is an AI – artificial intelligence?
What exactly is Artificial Intelligence?
Artificial Intelligence refers to the simulation of human intelligence in programmable machines. In other words, AI mimics the cognitive functions of humans. It learns from experiences and the latest information all on its own. For example, Siri utilizes a deep learning algorithm. Which is to make smart decisions and offer customized experiences to its users.
With digital marketplaces now the norm, Artificial Intelligence is all set to take over – one field at a time. Let’s take a look at some of the applications of AI in real life.
1. AI in Healthcare and Medicine
Artificial Intelligence is taking over the healthcare industry. It is operating to save more lives by synthesizing medicine and assisting surgeries. Faster data collection processes through machine learning have enhanced the healthcare industry. Other contributory factors include the reduction of mundane tasks. This is what has increased productivity and improved healthcare workers’ experiences.
Many healthcare organizations have incorporated AI into their existing infrastructure. This compensates for the lack of skilled labor. It is also used to speed up the assimilation processes and reach accurate diagnoses. PathAI, for example, works with foundations like Bill and Melinda Gates Foundation. It also works with Bristol-Myers Squibb and LabCorpo. It provides drug development, accurate diagnosis, and healthcare facilities in remote areas.
Doctors are using Google Health for patients’ diagnoses. The help of a massive dataset of similar ailments has resulted in less time spent on diagnosis. This service can also alert doctors if a patient’s condition gets worse. Various other healthcare organizations are making healthcare workers’ life easier. Coala Life, a digital heart monitoring system is an example of this. It designed a device to detect cardiac diseases. Aifloo is an e-health service for the elderly that keeps track of their health. This allows the doctors to save time and cater to other patients.
The future of the healthcare industry appears bright, as AI advances. This includes robot-assisted endoscopies, surgeries, cancer diagnosis, and treatment. The healthcare market is rapidly growing, with a projected value of $150 billion by 2026.
2. AI in Digital Marketing
Artificial intelligence is transforming digital marketing in the best way possible. AI technology lies on the same principles as human cognitive thinking. Such as predicting future mega and micro trends and producing excellent cost-effective results. Artificial intelligence in digital marketing predicts accurate results based on user behavior patterns. This results in user preferences and media trends. One of the most distinguished content platforms that use this technology is Netflix. That is for accurate movie suggestions for its users, based on their likes and dislikes.
There is a deep fear that AI will take over the jobs of humans. It is unlikely that Artificial intelligence will replace marketers. However, there is a greater chance of assimilation and AI working alongside humans. This is due to technology’s limited capacity for creativity.
AI analytics tools and techniques are to learn more about potential customers. So that businesses can enhance their marketing strategy and increase sales. AI study has predicted the use of AI technology. It claims an increase to $6.4 billion by 2024, promising a massive increase in ROI (return on investment).
3. Customer Service
Many companies are investing in chatbots, as users prefer to use chatbots over apps. This is mainly because the use of AI chatbots offers quicker responses. Employing conversational chatbots can benefit organizations, claims Juniper Research. Each year, they can save up to 2.5 billion service hours. Additionally, it might save up to $11 billion in customer service expenses by 2023. This is across major industries such as finance and healthcare.
A survey conducted by RichRelevance revealed an interesting finding. It found out that 40.7% of users find chatbots creepy and lacking intelligence. Chatbots are quick but ineffective. This is why users preferred to speak to a real person. Nonetheless, analytics tools are constantly evolving. So that they can provide users with a better customer service experience.
Without a doubt, chatbots are the future of customer service. According to this study, the market value for chatbots by the year 2024 will be $1.3 billion. The fear regarding the use of AI in marketing has decreased significantly. Baby boomers are more open to interacting with a chatbot than Millenials and Gen Z.
4. AI in Software Development
AI technology is able to transpire novel strategies with minimal human intervention. This is what makes it so great. Machine learning models do not have to depend upon human guidance. Software developers are employing AI to write codes, test and detect bugs. This saves time and boosts the efficiency of software development and apps.
However, conventional AI has its own limitations. It cannot be creative or use ‘common sense’ similar to humans. Nonetheless, numerous companies rely on the swift decision-making ability of AI. Machine learning models make decisions using the available data. They analyze it to predict future trends. The use of AI technology will make it easier for software developers in the future to code and develop.
Many organizations are creating ‘low-code development’ tools for rapid code generation. These tools will allow designers and writers to create their own websites. Peter Marston predicted the market for developing custom applications. He stated that it would increase by more than $61 billion by 2023.
5. AI in Social Media
A couple of popular social media platforms utilize AI analytics techniques. These sites personalize user experiences based on activity. Facebook and Instagram provide user preference-based content to increase engagement rates. Snapchat uses AI technology to create innovative camera filters. Last but not least LinkedIn also uses AI. Artificial Intelligence assists LinkedIn in offering personalized content, connections, and job recommendations.
There are some ethical considerations that need attention. These include identity theft, location theft, and theft of customer data. Adding to this, artificial intelligence tools also have greatly enhanced social media.
Social media marketing implements AI to increase engagement. This is by creating content intended especially for potential customers. To target audiences, AI uses precise demographic and behavioral targeting. A prediction claims that by 2023 the market for AI in social media would reach a value of $2.1 billion.
6. AI in UX/UI
Enhancing the user experience is the goal of UX/UI design. AI is being used by UX/UI designers to customize websites and applications. They will have a far better experience as a result of this. Artificial Intelligence algorithms have made UI quite accessible and user-friendly. . The creation of a just beautiful website is insufficient. Urexia claims that poor usability causes 70% of internet enterprises to fail. As a result, the created program ought to provide a user-friendly interface.
When interacting with machines, humans tend to talk like machines as well. Designers are working towards creating a more human-like, interactive experience for users. AI utilizes A/B testing, which is a binary approach used to gather data and garner results. Which then specifies which design seems more appealing to its users. It considers data that allows designers to provide a detailed and empathetic experience. Data is inclusive of User device type, visitor volume, demographics, and drop-off rates.
Wix, a website developing software, artificially engineers websites without human design input. The Wix AI assistant will generate a website based on individual preferences. Which includes the location, name, and type of website.
7. AI in Creativity
With enough data, artificial intelligence can produce art as well. The most expensive AI-generated ‘painting’ by Christie’s sold for $432,500. One of the creators of Obvious, Hugo Caselles-Dupré states that the system held 15,000 portraits of art. The software analyzed works from the 14th century to the 20th century to create its own piece.
Artificial intelligence is unable to emulate human emotions, inventiveness, or common sense. This is what we have already established. However, humans and Artificial intelligence together can give birth to wonders. For instance, the website ThisPersonDoesNotExist.com uses artificial intelligence to generate images. Which includes graphics of humans, cats, art, and even horses. This website is a cost-effective way for designers and creators. So that they can create art and protect themselves from any legal repercussions.
It is taking over interior designing as well. In the Chair Project, humans and machines work together. It employs artificial intelligence to design chairs, which are then manufactured by humans. These chairs may not look like your typical chairs, but it’s a start! Artificial Intelligence creativity has grown in other creative fields as well. Including Writing, Music, Choreography, etc.
8. AI in Gaming
If you’ve ever played Solitaire on your computer, you’re familiar with the use of AI in gaming. Game developers and designers are incorporating this technology into video games. Which is to enhance user experiences, providing users with a more immersive encounter. The use of VR/AR creates an intelligent and interactive game experience for the user. A well-known example of such a game is Pokemon Go. It took over our lives with its exceptional AR experience a few years ago. Pokémon Go incorporates machine learning to offer its users a more true-to-life experience. It uses a phone camera to overlay monsters and Pokémon in your real-life background.
It is competing with humans in real-life games as well. One example is Google Deepmind. They especially designed a computer program, AlphaGo to play the board game Go. Go is a board game of Chinese origin that surfaced over three thousand years ago. It requires high levels of strategic thinking. AlphaGo employs neural networks to process Go game board input and make decisions. It then generates multiple strategic moves based on that information. AlphaGo started out as an amateur player. Nevertheless, it gained knowledge through experience and eventually won the Go world championship. By successfully defeating multiple Go World Champions. Future AI learning algorithms will tailor a user’s gaming experience to their preferences. Indeed, Artificial Intelligence is to take over the gaming world soon.
9. AI in Education
The way humans learn is being changed by artificial intelligence. A more individualized way of learning is becoming increasingly prevalent in educational practices. Regardless of background, AI offers a more inclusive future for students. AI has the potential to provide educational options for special needs students. Students with physical disabilities can use Siri and Alexa without making any contact. Students can use their voices to type queries and open and close apps with the help of their AI assistant. It is a more inclusive future for children who may need special care. As they will be able to interact freely without any hindrances. Microsoft comes with a Microsoft translator that assists deaf learners. The teacher wears a headset that translates the verbal instructions into visual texts. Robotic support also assists dyslexic and autism spectrum disorder (ASD) pupils to learn.
ALEKS is a research-based online education platform that uses a deep learning algorithm. It personalizes each student’s study schedule, catering to the needs of every student. Aleks claims its “students achieve mastery more than 90% of the time”.
It is also affecting the way we learn new languages. Duolingo is a language learning platform available in over 22 languages. Duolingo customizes the user’s learning experience according to feedback and preferences.
According to the Duolingo Effectiveness Study, pupils’ average language skills have increased. That by an astonishing 91.4 points. Researchers have estimated growth of 47.77% from 2018-2022 in the Ed-tech Industry in the US.
10. AI in Manufacturing
Artificial intelligence can help major industries save thousands of dollars. Whilst also reducing negative impacts on the environment. AI can reduce environmental waste in manufacturing industries by utilizing eco-friendly materials. One example is the Open Quantum Materials Database’s thermochemical and thermoelectric energy sources. Another example is electrochemical energy storage: batteries and computational tools. It focuses on employing data mining to address critical energy issues.
AI can also improve the manufacturing industry by collecting and analyzing data. Along with that it also looks for discrepancies in the production process. AI also tends to provide a price forecast by analyzing and comparing prices like that of Amazon. AI can also design and generate different models based on the preferences of designers. These algorithms come up with various ideas to create relevant and accurate models.
There are many myths about AI being unfeasible, expensive, and impractical in manufacturing. Nonetheless, it still has several uses in production. From checking the quality of production to manufacturing, AI contributes to industry growth. A prediction claims that by 2035, AI technology will be generating US$3.8 trillion in Gross Value Added (GVA). Moreover, it will increase productivity by 40% in manufacturing and 15 other fields.
Can AI Replace Humans?
The question remains: will artificial intelligence eventually replace humans? The short answer is no. Artificial intelligence and humans will be working in collaboration with each other to create wonders beyond the imagination. This is because one can’t function without the other and while intelligent robots will most likely replace some jobs, AI will also give rise to new jobs in the field of tech and software development. It is certain that AI is going to be a regular part of our daily routine soon enough. Artificial intelligence is revolutionizing our world for the better. The future of AI technology looks quite promising. It has numerous applications in various fields and it is here to change the game.