Original article was published by Imański Kamil on Artificial Intelligence on Medium
Artificial Intelligence — the real world use cases
Despite, many people think, that Artificial Intelligence is some kind of abstraction, used to create robots, like those from the film called “Terminator”, that was not the best vision of the future, nowadays, it has many different use cases in multiple economic sectors like marketing, sales, FinTech or analytics. In this article we will cover high-level overview of some of them.
In this sector, the first and foremost use case of AI if to provide fraud detection and anti-money laundering (AML). To find out, if the suspicious transaction is a fraud, the most commonly used are supervised model algorithms. To properly set up those algorithms, first we need to tech them, what are suspicious transaction. To do so, we need to create some testing transactions, that have some fraud characteristics, and flag them as the suspicious. the AI algorithms, are creating some kind of pattern, that reflects the suspected money transfers.
One of the most important usage of artificial intelligence in healthcare is use case of early diagnosis. Major disease areas that use AI tools include cancer, neurology and cardiology. Some people says, that the AI will replace human physicians in the future. For this moment, it is more likely, that the AI algorithms will assist physicians to make better clinical decisions or replace human judgement, but only in the certain, truncated functional areas of healthcare.
In the majority of large companies, the sales forecasts are made on a weekly basis. This process is very expensive, because it requires a repeated attention of highly qualified managers. In this case, there is a set of algorithms, that can help the sales department or management to predict future sales. With a given number of defined parameters, and some set of historical data, we can build and train the algorithms, that will return, whether it is more likely, that the company will make a deal and catch up with the required sales threshold or it will fall behind.
When it comes to the Customer Service sector, it is common for businesses to have the chat bots on its web pages. Chat bots are the artificial intelligence algorithms, that through the use of machine learning techniques and natural language processing (NLP) can handle moderately sophisticated conversations and understand the intent behind your customers’ requests
The widespread usage of AI in marketing is for example the re-targeting process. The aim of this marketing process is to find the customers, who behaves as if they were interested in buying the product, but they still did not make a decision and entice them for purchase. This goal can be achieved by using machine learning techniques to interpret data around users purchase history and identify patterns that can help predict future purchase behavior.
Neither last, nor least is the automotive sector. As far as the automotive industry is concerned, the strongest current trend is the autonomous car sector. More and more respectable influencers from this field, have a vision, that in the future we will not be able to buy a car. We will use cars in Uber mode, what means we will order the car to bring us from point A to point B, but instead of the driver, the car will be driven by AI.
In this article we have covered only a small piece of Artificial Intelligence use cases in the real world. There are a lot of other sectors and industries, where AI technologies are implemented and commonly used. For more information, please see enrolled references.