How Industries are Maximizing AI Applications

Original article was published by BraineHealth on Artificial Intelligence on Medium


How Industries are Maximizing AI Applications

“Computers will overtake humans with AI within the next 100 years. When that happens, we need to make sure the computers have goals aligned with ours.” -Stephen Hawking

Technology which were hitherto considered highly modern are nowadays at the tip of our fingers, thanks to the development of applications such as artificial intelligence. However, with any emerging concepts the scientists and researchers have at hand, developing and introducing these applications are still finding their feet, realizing new functionalities, project workflows and the skills required for their developing professions.

For the real aptitudes of AI to be felt across industries, there is a strong desire for the technology to be made hugely accessible, for use by scientists and engineers amongst the range of industries they work within. Beyond the data scientist, engineers and scientists are likely to push the testing, trials and acceptance of profound learning in applications to different industries. Solution providers will drive change, shared with entrenched applications, and larger development teams, to endorse improved collaboration, higher productivity workflows and less dependence on IT teams. We are in a time where artificial intelligence is taking over every industry. Companies will need to keep getting ahead of the curve, so they can embrace AI and use it to their advantage. In today’s multifaceted digital world, the ability to organize and determine links between diverse data types has the potential to solve real business challenges. The growth in volume and styles of information sets is prompting corporations across all industries to appear for automation to get insight and selections from this information.

What exactly can different industries do with Artificial Intelligence and how can they leverage it into their businesses in 2019?

Insurance Industry

AI will be a huge part in creating and monitoring policies in life and non-life insurance. AI bots, for instance are forecast to become commonplace when putting together life insurance. As algorithms are being developed that identify and prevent deceptive claims, AI may also help insurance companies keep money.

Automotive Industry

Self-driving cars are forthcoming, huge commendation to AI. For these vehicles to remain safe and on the best routes they must use data that allows these machines to keep learning. AI may also see people purchasing automobiles online and having them customized and self-driven to their doorstep.

Education System

Anil Nagar, Founder and CEO at Adda247 is very optimistic as he paves way to create one of the largest education-technology company worldwide. Eventually, AI will play the role of a mentor, who can support a learner throughout his learning expedition. According to him, as AI gets sophisticated, it would be possible for a machine to read student’s facial expressions and figure out if student is struggling to grasp the subject and modify a lesson as a response.

Banking Industry

The banking and finance will soar to new heights thanks to AI. Customers will receive quicker service, lower fees and better options. As an example, AI will can be used when issuing loans to offer personalized metrics. Banks will also be able to get more sophisticated fraud protection, which can save customers lots of money and time.

Fraud Analytics

Machine learning refers to analytic techniques that “learn” patterns in datasets while not being radio-controlled by a human analyst. Machine learning helps data scientists competently verify which transactions are presumably deceitful, while significantly reducing false positives. The techniques are very effective in fraud deterrence and detection, as they agree for the automated discovery of patterns across huge volumes of streaming transactions.

Healthcare Industry

Technologies are starting to disrupt the manner humans evolve. Amongst numerous other areas there are heaps of exciting developments in healthcare specifically associated to human biology. Bringing about an artificially intelligent healthcare landscape will be a significant challenge, due to the sheer amount of mission-critical work on doctors’ shoulders, outdated systems and handwritten records, and disintegration between care facilities. The AI healthcare sector is apt for development and venture capital, but while the data giants figure out how to transform the system, smaller-scale projects are making actual changes. Little by little, patient by patient, AI is on its way to restoring healthcare once and for all.

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