Artificial Intelligence is driving the growth of various sectors with innovations in existing technologies like machine learning and deep learning. The advancement in digital technologies brings many changes in operating procedures by introducing the concept of automation. An array of tools are available online to promote the use of AI development and its implementation to improve the business culture. AI-based organizations seek different certifications and courses, for example, the artificial intelligence course to harness the power of machine learning and artificial intelligence.
AI empowering the automotive Industry market with a total worth of 782.9 million USD in the year 2017. See how?
The idea of becoming driverless is no more a dream now. Companies like Tesla brings revolutionary change in the market of the automotive industry by presenting the real autonomous vehicle in front of the world. These vehicles are capable of sensing the input from surrounding using radar, GPS, odometry, etc., to navigate without any human input. The advanced navigation control system of automated vehicles avoids traffic collision, high infrastructure costs while improving security.
One can conclude from the above-provided figure from the automotive market that the companies are grabbing their interest to invest in AI to introduce the new innovative concept and improvement in the existing system. But its broader use in future can swallow the millions of employment including lorry or truck drivers dependent on their profession to fulfill their demands in life.
Lethal Autonomous Weapons:
The evolution of lethal autonomous weapons is marked with the ability of machines to deliver work without the human intervention. These weapons are also known as the robotic weapons or killer robots. These weapons are capable of performing an independent search operation and capturing targets on land, water or space with their programmable logic or human based command. But the only concern is what the need of these destructive machines? What if they neglect our commands after all they are the result of human brain and designed with the same concept. Few people believe that the third world war will be the outcome of AI-powered unfinished projects and will be between the human and machine.
Advertisement and promotional techniques in the traditional system are replaced with outstanding AI leveraged applications which recommend for the personalized promotions. The inclusion of business intelligence to minimize the effort and cost factors empowers the use of intelligent tools to attract qualified leads by collecting the customer’s background information. The advancement in digital marketing promotes the enterprises to expand their business globally and connect with the targeted audience. Analysis of massive dataset presents the valuable insights for companies to take appropriate and quick decisions.
Apart from these services, AI enables the content curation by providing accurate figures, visualization, and facts to attract more visitors.
Recommendation engines implemented by e-commerce and other online giants recognize the customer behavior pattern to suggest them the with needy and similar products explaining their specifications.
Airline Industries are using AI to improve their customer experience by collecting informational feedback, surveillance applications, and fast application performance. According to the global forecast, AI will drive the future of the aviation industry with a total market capitalization of 222.5 million USD by the year 2025.
Flourishing Healthcare Industry to an estimation of 7988.8 million USD by the year 2022:
Unlike autonomous weapons which can cause massive destruction, AI is enlightening the medical sector with its powerful data analysis approach to save human lives. Vigorous tools like Watson assists doctors to process an enormous amount of data for quick decision making. These days, AI is sufficient enough to find rehabilitation techniques for incurable diseases like cancer.
Faster Decision Making:
The best implementation of machine learning and AI can be seen in the organizational decision making. Various big enterprises are dependent on AI to make a quick and accurate decision in their business-related work increasing the revenue and eliminating hurdles from their growth.
In the share market, companies perform deep analytics on the past and present stock data to predict the ups and down in the stock prices. Depending upon the collected outcome, organizations sell and buy their stocks increasing the overall revenue and neglecting the loss.
The use of AI in decision making is not limited to the stock market, but it wisely predicts the climate changes and disasters. AI recognizes the anomalies by analyzing the simulations and real-time collected information from weather events. This way authorities can enhance the disaster preparation, give early warning and arrange a quick and optimal response team prioritizing the emergency events.
Few Words to Bring Home:
AI comes up with its different uses in various industries, but still, experts are afraid of its consequences in the future. The possibility of “what and if” is always there in AI. Most common ethical issues are the threat to humanity and unemployment. Apart from these issues, AI is flourishing business goals very efficiently.
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Sanjay Kumar is B2B digital marketing doyen, with close to 5 years of experience in web marketing, project management and business development. Mr Sanjay has innovated, erected and managed e-marketing campaign for various organisations with his awe-inspiring analytical and practical approach driving fuel to the business growth.