AI APPLICATIONS

Source: Deep Learning on Medium

How AI services can help our planet and ultimately benefit humanity. In this blog on Artificial Intelligence Applications, I discuss how AI has impacted healthcare, finance, agriculture, and various sectors.

Marketing

Marketing is one way to sugar coat your products to attract more customers. We, humans, are pretty good at sugar coating, but what if we only built an algorithm or bot brand or company for the purpose of marketing? It does the most amazing work!

In the early 2000s, finding a product would be a nightmare if we searched online stores without knowing the exact name of the product. But now when we search for an item in any e-commerce store, we get all the results of that item. It’s like these search engines read our minds! In a matter of seconds, we get a list of all the relevant items. An example of this is finding the right movies on Netflix.

AI Applications — AI in marketing

AI in marketing

One reason we all love Netflix is that it provides the most accurate assessment technology based on the customer’s reactions to films. It examines millions of records to indicate which shows and films you love based on your previous actions and selection of images. As the data set grows, the technology gets smarter and smarter every day. With the increasing advances in AI, it is possible for consumers on the web to purchase products by taking a photo of it in the near future. Companies like Comfind and their competitors are already experimenting with this.

Banking

AI in banking is growing faster than you think! Most banks have already adopted AI-based systems to provide customer support and to identify anomalies and credit card frauds. An example of this is the HDFC Bank.HDFC Bank has developed an AI-based chatbots called EVA (Electronic Virtual Assistant) built by Sense forth AI Research, based in Bangalore. Since its launch, Eva has solved over 3 million customer queries, interacted with more than half a million unique customers and conducted over one million conversations. Eva can gather knowledge from thousands of sources and provide simple answers in less than 0.4 seconds.

Artificial Intelligence Applications — AI in Banking

AI in banking

Using AI to prevent fraud is not a new concept. In fact, AI solutions can be used to increase security in many business sectors, including retail and finance. By identifying card usage and endpoint access, security professionals are effectively preventing fraud. Organizations rely on AI to learn those steps by analyzing transaction behaviors. Companies like MasterCard and RBS World Pay rely on AI and deep learning to detect fraudulent transactions and prevent card fraud. This has saved millions of dollars.

Finance

Ventures rely on computers and data scientists to determine future models in the market. Business depends mainly on the ability to accurately predict the future. Machines are great at this because they can crunch huge amounts of data in a short period of time. Machines can also learn to observe patterns in past data and it how these patterns can be repeated in the future. In the ultra-high-frequency trading era, financial institutions are leaning towards AI to improve their stock trading performance and maximize profits.

Artificial Intelligence Applications — AI in Finance

AI in finance

One such company is Nomura Securities, Japan’s leading brokerage house. The company is reluctantly achieving a goal that is, analyzing the insights of experienced stock traders with the help of computers. After years of research, Nomura jumped in to introduce a new stock trading system. The new system stores large amounts of price and trading data on its computer. By tapping into this information reservoir, it performs assessments. For example, it determines that current market conditions are identical to those of two weeks ago, and how it may change for a few minutes. It helps to make good trading decisions based on market prices.

Agriculture

The terrible fact here is that by 2050 the world will have to produce 50 percent more food because we are eating everything! The only way this is possible is if we use our resources more carefully. With that said, AI helps farmers get the most out of the land while using resources more consistently. Issues such as climate change, population growth, and food security have pushed the industry to seek more innovative approaches to improving crop yields.

Early-based agricultural tech called Peat has developed an app called Start-Up Planets, which identifies potential deficiencies and nutrient deficiencies in the soil through images. The Image Recognition app detects possible errors with images captured by the user’s smartphone camera. Customers offer soil restoration techniques, tips, and other solutions. The company claims that its software can achieve pattern recognition with an estimated accuracy of up to 95%.

Health care

When it comes to survivors, most organizations and medical care centers rely on AI. There are many examples of how AI has helped patients around the world in health care. A company called Cambio Health Care has developed a Clinical Decision Support System for stroke prevention, which can alert a physician when a patient is at risk of heatstroke.

Artificial Intelligence Applications — AI in Health Care

AI in Healthcare

Another example of this is Cola Life, a digitalized device that can detect heart disease. Similarly, iFloo is developing a system to track how people are doing in nursing homes and home care. The best thing about AI in health care is that you don’t even have to develop new. By using existing medicines in the right way, you can save lives too.

Gaming

Over the past few years, artificial intelligence has become an integral part of the gaming industry. One of the biggest achievements of AI is in the gaming industry.DeepMind’s AI-based Alpha Go software, known for beating world champion Lee Se dol in the GO game, is considered one of the most important achievements in the AI field.Shortly after the victory, DeepMind created an advanced version of Alfago called AlphaGo Zero, which defeated its predecessor in the face of AI-AI. Unlike the original AlphaGo, which was trained over time by using Deep Mind large amounts of data and monitoring, the advanced system taught them to master the game. Other examples of artificial intelligence in gaming include First Encounter Assault Recon, also known as F.E.A.R, a first-person shooter video game.

But what makes this game so special?

The actions taken by rival AI are inconceivable because the game is designed to train opponents throughout the game and never repeat the same mistakes. They improve as the game gets harder. This makes the game more challenging and asks players to constantly change tactics and never sit in the same position.

Space exploration

Space missions and discoveries will always require analyzing large amounts of data. Artificial intelligence and machine learning are the best way to manage and process data at this level. After rigorous research, astronomers used artificial intelligence to detect an eight-year planetary solar system acquired by the Kepler telescope. Artificial intelligence is also being used for NASA’s next rover mission, the Mars 2020 rover. AEGIS, an AI-based Mars rover, is already on the red planet. Rover is responsible for the autonomous goal of the cameras to research Mars.

Autonomous vehicles

For a long time, self-driving cars have been a buzzword in the AI industry. The development of autonomous vehicles will surely revolutionize the transportation system.

Companies such as Waymo conducted several test drives in Phoenix before implementing their first AI-based public ride-hailing service. The AI system collects data from the vehicle’s radar, cameras, and GPS and cloud services and generates control signals that govern the vehicle. Advanced deep learning algorithms can accurately predict what objects are near the vehicle. This makes Waymo cars more efficient and safer.

Another well-known example of an autonomous vehicle is Tesla’s self-driving car. Artificial intelligence allows computer vision, image detection and deep learning to automatically detect objects to build cars and rotate without human intervention.Elon Musk talks a ton about how AI is implemented in Tesla’s self-driving cars and autopilot features. He quoted it,”Tesla will have fully self-driving cars by the end of this year, and the” Robotaxi “version — which can carry passengers without anyone behind the wheel — is ready for the streets next year.”

P.VenkatVajradhar
Marketing Team,SEO Executive

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