Artificial Intelligence (AI) is redefining industries by offering personalization, automating processes, and disrupting how we work. In modern times, AI is embraced by every industry from healthcare to government. Here are the 10 industries where AI has caused a disruption.
The most popular applications of AI in agriculture range from robotics to crop and soil monitoring to predictive analytics. Agriculture majors are developing autonomous robots programmed to handle routine agricultural tasks such as crop harvesting at a higher volume human labourers. AI is deployed in crop and soil monitoring deploying computer vision and deep learning algorithms to process data captured by drones and/or software-based technology to monitor crop and soil health. Predictive Analytics-driven by machine learning models are being developed to track and predict the impact on crop yield faced by erratic weather changes.
Call centers are witnessing a revolutionary change in the industry with the development of bots and automated messaging, which is often thought to be one of the industries which are at most risk of becoming obsolete in a world of AI. Call centers are an important link between businesses and customers for customer service and product offerings. AI software has been developed to listen to calls and analyze their impact on customer's buying behavior and shopping experience. Automated calls driven by bots and chatbots may lead to an increase in customer's loyalty in the future and they may even be programmed to smooth the situation if the customer gets upset.
AI can be deployed into smart electric grids to make them more efficient in delivering energy, and to predict when batteries and other equipment will fail. AI implementation will make the energy exploration an easier and more economical task. AI and its subsets, machine learning, are trends which will disrupt the energy industry, leaving massive opportunities for savings. Business majors like the General Electric is looking ahead to use AI to optimize how electricity flows out of batteries and points of consumption. According to Bloomberg News reports, AI tech into energy and mining could eventually save $200 billion globally.
Healthcare is a sector where AI has endless possibilities, from user-friendly bots and chatbots assisting patients in their health diagnosis to robots performing operations with precision. AI is currently used in the healthcare industry to identify high-risk patient groups, predict diseases, increase speed and accuracy of treatment and to automate diagnostic tests. AI has huge potential to improve drug formulations, predictive care, and DNA analysis that has the power to positively impact the quality of healthcare and affect human lives.
In the global innovation economy driven by AI and allied technologies, demand for intellectual property (IP) titles, patents, trademarks, industrial designs; copyright is rapidly increasing and becoming more complex. AI, big data analytics and new technologies such as blockchain have huge potential to address the growing challenges facing IP offices. Copyright is an important IP asset for AI; AI protects the technology product (code and data) from unauthorized use and reproduction through digital locks. An IP strategy for AI systems will layer IP rights to protect different aspects of information and business enterprises can clearly define and protect their IP with registrations and digital documentation.
AI technology when put into utilization by corporate and government networks will be a dominant feature of IT service management (ITSM) in the future. AI will improve technology utilization in homes and in the workplace. AI technology will cause a disrupting change in ITSM offerings in three key areas of Point of Entry (incident/request creation), automated backend processes and knowledge management. AI will impact the IT Service Management Industry in the years to come predominantly due to the resolution of recurring losses, self-service for low tier incidents, improved organization & optimization and instant information like meeting schedules through personal assistants.
AI is increasingly been deployed in the manufacturing sector including vehicle manufacturers for automation and optimization of assembly lines. Many industries employing complex knowledge requirements like the pharma and the healthcare sector are vigorously planning and testing AI technologies to focus on augmenting decision-making. Medical data and research are being integrated with AI to inform the practitioner's diagnosis and treatment recommendations.
The service industry will experience most of the AI adoption throughout 2018 with the integration of AI-powered voice assistants and chatbots. AI-powered voice assistants are answering uncomplicated queries routed to the service helpdesk, like answering about working hours, or determining when an engineer is due to arrive. A bot powered by AI drives significant potential for companies to connect voice assistants to enterprise software with capabilities such as self-service diagnostics or scheduling optimization engines, to automatically offer appointment slots.
AI-Powered chatbots are assisting retailers to increase the amount of data they can collect about the customer, and edging them towards a competitive advantage over the non-adopters of AI technologies. Chatbots collect immense data through digital requests from shopping users who use technology to navigate websites and to make purchases. In the future, chatbots in retail will be able to improve conversation capabilities, capture audible reactions and eventually provide intelligent data and analytics to the retailer by capturing emotions and mood of their customers to predict emotional responses to their online experience. This will empower retailers to offer personalized customer experiences to enhance customer loyalty in the near future.
The transportation domain uses AI in mission-critical tasks which include autonomous self-driving buses carrying passengers in Finland, Singapore and China, autonomous trucks in San Francisco and railway cargo transportation. Major challenges in the transportation industry like safety, reliability, capacity problems, environmental pollution, and energy emissions are providing huge opportunity and a potential for high ROI for the AI innovation.
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