December 21, 2023

AI is revolutionizing each and every sector at a faster speed than ever; applications of artificial intelligence (AI) have become unstoppable to the point that you can’t ignore them. And if you do so, you will lag behind in the race and eventually have to adopt them. Not until a few years ago were AI-based models being used to get repetitive tasks requiring less complex intelligence done, as there was barely any risk. But today, AI is being used in various applications of artificial intelligence to make well-informed and less risky decisions. Major industries, from healthcare to manufacturing, have adopted AI in every way possible to improve productivity and stay ahead of the game. Let’s dive in with healthcare. Applications of AI in Various Industries Though AI has impacted almost all industries, we have listed the ones that have drastically evolved and will continue to integrate for good in the near future. Healthcare As AI has improved and become more accurate over time, healthcare has also leaned into AI. The applications of artificial intelligence have been improving a lot lately in healthcare, tracking specific patterns, analyzing patient reports, figuring out disease(s), and telling treatment. Lately, one area that is under focus is cancer detection; rigorous research is conducted to make this as accurate as possible so cancer can be detected and treated early. The system analyzes all signs, patterns, anomalies, or anything indicative of cancer of any sort. Real-time surgeries with the assistance of robots are being conducted.  Pharmaceutical companies are using AI-based models to analyze data to discover new potential medical drugs. According to Statista, AI in overall healthcare by 2021 was worth around 11 billion U.S. dollars around the globe, which is expected to surge to around 188 billion by 2030. The most commonly used types of AI software in healthcare were natural language processing and healthcare data integration. The gist? AI will help conduct diagnoses better and more accurately, spend less time on administrative tasks, and lead to overall better and more prompt care in hospitals. Social Media Social media firms like Meta, X, etc. use AI in their daily operations for a multitude of tasks, of which the most prominent are the following: Ensuring compliance with their content policies, combating insensitive and bullying language, and taking actions against such profiles, either restricting or banning. Processing big data on a daily basis for numerous purposes, such as recommendations, advertising products, predicting future strategies, improving user experience, analyzing activity on the platform, etc. Generating and directing content based on the regions, states, countries, etc. To discern what is trending and rising. And remember when Facebook was accused of running targeted ads during the US presidential elections in 2016? Social media campaigns were allegedly run to divert voters’ preferences and targeted ads. Other than all this, companies are and will keep using AI to automate processes and make platforms as they desire. Finance AI has helped the finance industry to better streamline and standardize routine processes and activities, like customer service, internet banking, etc.  Apart from the above-mentioned applications, the application of AI is used to analyze market trends and graphs of stocks, identify patterns, and predict the future behavior of the market, helping firms make well-informed investments. The finance industry has quickly adopted AI for its accuracy and efficiency in a number of ways, like suspecting fraudulent behavior, further preventing its progression, and saving their customers from potential scammers. Also, you must have used WhatsApp chatbots for inquiries related to bank accounts. And how can we forget loans? Companies are using AI to calculate the risk of giving out loans. In short, at every level, AI has trickled into the finance industry, whether it is identifying potential hazards, identifying changes in patterns, dismissing the prospects of fraud, or forecasting future trends. In a report released by Statista, most financial service professionals around the globe considered AI a hinge for their company’s success in 2020. 81% of C-suite professional respondents considered incorporating AI as an edge for the success of their company. The gist? AI in finance will streamline all the processes possible and make them safer, helping improve revenues, reduce operational costs, and improve customer satisfaction. Agriculture You must have seen recent viral videos of drones analyzing the field, generating reports, and giving suggestions for the best crops to grow on that field. The next drone will sow seeds at a rapid speed. There are devices that can analyze and detect deficiencies in a specific field. Apart from this, there are devices that help combat pesticide attacks. Today, farmers, based on the report generated by AI tools and devices, decide if they should go on with a certain crop or not. Under the scorching sun, farmers themselves were efficient and would get tired quickly, but now there are robots that help farmers harvest crops. To quote the report by Statista, it was estimated in 2020 that the AI in agriculture was one billion USD, which is seen to go around four billion U.S. dollars by 2026. Manufacturing It has been quite a while since the manufacturing sector integrated AI into its system to assist in repetitive tasks. Manufacturing, since the integration of AI, has become efficient, productive, and less flawed. The robots are doing repetitive tasks better than workers, even lessening the chance of any sort of anomaly. The predictive maintenance systems foresee errors and failures in equipment, etc. Apart from this, the assembly of car parts has been sped up, producing more cars quicker. Due to the integration of AI, the chances of supply chain-related issues have been mitigated, and businesses are getting their deliveries on time. Manufacturers are using AI for quite a lot of things and purposes, i.e., quality control, inventory management, marketing diagnostics, customer care personalization of products and services, and asset maintenance. And to name one thing that AI has drastically improved in the manufacturing industry, it is quality. In a survey published on Statista, 59% of correspondents mentioned that quality control