As technology progresses, so do our work and lives, the adoption of Artificial Intelligence (AI) in diverse areas in modern society, such as computer science or medical field, is reflecting humanity’s dream of a new era enabled by advanced technology. Indeed the applications of artificial intelligence are many, they promise a bright future where people receive more benefits and productivity is increased. Industries worldwide have already started resorting to AI to discover more ways to better the economy, so no doubt this technology is becoming necessary and an unavoidable, important change to us.
1. What is artificial intelligence?
“Artificial intelligence (AI) is intelligence demonstrated by machines, unlike the natural intelligence displayed by humans and animals, which involves consciousness and emotionality.” – Wikipedia
In short, artificial Intelligence (AI) is an area of computer science that emphasizes the creation of intelligent machines that work and react like humans, aka a machine’s ability to imitate human behavior. One of the most popular AI applications one can stumble upon in their everyday life is the Google Search engine.
2. The benefits of AI
With the apparent advantages that AI can bring, they are challenging the limits of machine-enabled functionality. Said bleeding-edge technology makes it possible for computers to function with a degree of autonomy, resulting in iterative tasks being performed efficiently.
AI also promotes workplace development for the next generation that thrives on seamless communication between the business system and individuals. It helps reduce the amount of time usually needed for complex tasks, and without significant cost overlays, can be deployed in multiple countries. Also, by not relying too much on manpower, AI is almost useful 24/7 without interruptions.
Human resources are thus not rendered redundant, but rather their efforts are assisted by new technologies. AI gives companies the privilege of freeing up money for higher-level assignments.
3. The future of artificial intelligence
AI is having a significant impact on the future of virtually every industry and every human being. It is the primary driver of emerging technologies like big data, robotics, and the Internet of Things (IoT), which is becoming more prevalent in the modern-day world. In the long run, our surroundings will be significantly shaped by such intelligence. Below, we will address some of the already known applications for AI.
4. The applications of artificial intelligence
4.1. AI in the military
Besides the civic aspects of financial industries, AI is quickly making its way to becoming a vital part of the military. Amongst possible investments for warfare, rigorous research and development in modern technology/intelligence greatly benefit nations’ strength. Military equipment run by AI can handle strategic data efficiently, not to mention its superior computing and decision-making capabilities.In 2018, North America was the largest regional market of military AI and cybernetics, having a market share of 48.23 percent. The global military AI and cybernetics market was valued at around 4.77 billion U.S. dollars in that same year and is forecast to grow with a compound annual growth rate of 18.66 percent from 2019 to 2024.
4.2. AI in healthcare
AI plays many different healthcare roles, such as utilizing a web database allowing medical practitioners to access thousands of diagnostic resources. As doctors, pharmacists and nurses have been deeply educated in their field and are current with present research, AI can produce much quicker solutions that match their clinical knowledge. In China only, it was forecasted that by 2022 the market size of medical imaging from artificial intelligence there would amount to around 970 million yuan.
In many instances, a patient can develop multiple symptoms related to various conditions by both genetic and physical characteristics, which can delay a diagnosis. With the help of AI in delivering quantitative and qualitative data based on input feedback, the early diagnosis and treatment plan could be carried out in a timely and effective manner.
4.3. AI in business
Businesses can no longer rely on conventional business models to thrive with the increasingly vast amount of data available today and the rapidly changing expectations and complexity of customers. With AI, however, it opens up brand new possibilities to drive business development through actionable customer data insights. Many companies have already taken on intelligent computer software with human-like capabilities to boost the followings:
- Revenue
- Customer services
- Productivity and efficiency
- Business growth and digital transformation.
One of the tangible examples that can be made out of the current, positive trend of AI, is that it’s forecasted that by the year 2030 the use of AI in the banking industry will generate around 99 billion U.S. dollars in value in the Asia Pacific region alone.
4.4. AI in programming and computer science
For many developers, the process of coding along the line of work can be frustrating. That is when AI comes into play with the ability to learn how to create programs properly. It also analyzes algorithm and decides which set of stored data is best used for various circumstances when coding.
For the time being, teaching computers to code is still a long term goal for AI researchers. A device that can program itself is more likely to learn its own programming languages faster.
In a broader context, software development, automaton integration can also be benefited by AI greatly, the global AI software market has been predicted to grow rapidly in the coming years, reaching around 126 billion U.S. dollars by 2025. The market includes a wide array of applications such as natural language processing, robotic process automation, and machine learning.
4.5. AI in agriculture
Agriculture is one of the oldest and most important professions since the dawn of civilization. Over the years, man has come a long way with how we cultivate and grow crops with the advent of different technologies. As the world population is still growing and lands are becoming more scarce, people are having creative needs to become more efficient about farming, using less land to produce more crops and increase productivity.
Worldwide, agriculture is a multi-billion industry, in 2019, field farming is the main farming type where AI is used in agriculture, with a market share of more than 60%. The overall AI in the agriculture market had a size of almost 1.1 billion U.S. dollars in the same year and is forecasted to grow to more than 3.8 billion U.S. dollars by 2024.
And now, the industry is turning to AI technologies to help produce healthier crops, farmers can now analyze many factors in real-time such as:
- Weather conditions
- Temperature
- Water use
- Soil condition
- Growing condition
- Pests control
For instance, by deciding crop choices, the best hybrid seed choices and resource utilization, AI technologies help farmers optimize planning to generate more fruitful harvests.
AI systems also contribute to enhancing the efficiency and accuracy of harvesting, known as precision agriculture. Precision agriculture uses AI sensors to detect and target weeds and then determine which herbicides to apply within the right buffer zone. It helps avoid the overuse of herbicides and other toxins harmful to our food and health.
With the increase of the workforce in the cities and other economic sectors, most farms are facing the challenge of a manpower shortage. For instance, in India from 2010 to 2020, the share of people working in agriculture has dropped 10.03%. Traditionally, farms require constant attention by many workers, mostly seasonal, to harvest crops and keep farms productive. One solution to deal with this issue is AI agriculture bots.
These bots augment the human labor workforce and are used in various forms. These bots can harvest crops at a higher volume and faster pace than human laborers and reduce costs for farms by having an always-available workforce.
4.6. AI in video games
In video games, AI is used to generate responsive, adaptive or intelligent behaviors primarily in non-player characters (NPCs) similar to human-like intelligence. In short, it dictates the difficulties of games and how real characters can interact with each other and the players.
Artificial intelligence has been an integral part of video games since their earliest inceptions. The idea of AI opponents was largely popularized in the form of graduated difficulty levels, distinct movement patterns, and in-game events triggered by the player’s actions. AI is often used in mechanisms that are not immediately visible to the user, such as data mining and procedural-content generation.
An old school game that took AI to a whole new level back in the days is F.E.A.R., the PC Gamer US’s “Best Action Game 2005” award winner. At the time of its release, many critics praised the combat and AI system, the magazine Logan Decker once wrote, “With its brutally cunning AI and siege tactics, F.E.A.R.’s intense and prolonged combat makes mission goals easy to forget as you’re crouched beneath a file cabinet with a far more immediate objective — survival, by any means necessary.” AI controlled enemies in F.E.A.R. can make every encounter a brand new experience by their computing algorithm, which allows the ability to make quick decisions based on the players’ actions and positions.
4.7. AI in robotics
For automating tasks within and outside the factory world, AI and robotics are a potent combination. AI has become an increasingly prevalent presence in robotic solutions in recent years, incorporating versatility and learning capabilities in previously static apps. There are a few ways AI is implemented in today’s global manufacturing market, such as assembly or packaging, for these processes can be easily automated.
4.8. AI in HR
From its inception, the use of AI in the workplace has grown considerably and increased in popularity up till now. Factoring in Talent acquisition, one of the most critical tasks of human resources, also arguably one of the most challenging, particularly due to the over-saturation of candidates on the market and the identification of top talents. For this, AI can be an excellent tool, particularly during the initial stage of talent acquisition, as it can conduct a comparative analysis of an applicant’s profile in a few seconds to check their skills with current employees or the job description.
For employee experience, AI can be of benefit. Prospective candidates may use the same AI-operated resources to learn about business information or any other questions, which is substantially more convenient than waiting for a response from the organization itself. In addition, for new hires, it can assist with the onboarding process. For instance, an AI program can be used to construct a digital orientation process that covers office information, contacts, virtual viewing of the office,…
In succession, coaching and training can benefit from incorporating AI as it can analyze the staff’s abilities and suggest lessons or tutorials depending on their task specifications without managers or employees spending hours trying to find suitable resources. It can instantly interpret reports or evaluate employee performance to build effective coaching sessions.
As of a 2020 report, of the business and HR leaders surveyed worldwide who use artificial intelligence (AI) to assist workers in their organization, 58 percent of these claimed that the main use of AI in this context was to improve consistency and quality. A further 26 percent stated that AI is used to assist workers through improving productivity, with the remaining 16 percent using AI technology to improve insights.
4.9. AI in E-Commerce
By anticipating online shopping habits based on the items that consumers purchase and when they buy them, the use of artificial intelligence is changing the e-commerce industry. For example, if online shoppers regularly purchase a specific brand of product every week, the online retailer might submit a customized offer for this product to these shoppers, thus increasing their sales number.
With the current status of the online marketplace, e-commerce has become more saturated and competitive, which means, for a business to succeed, it needs to be faster and smarter. Such as applying AI in website building instead of investing thousands of dollars to high professionals for the job. Customer and visitor data is all around, ready to be collected all the time, and analyzed by businesses to better their services.
According to Statista Research Department, Customer Services benefit the most from the AI, which takes up 48% of total use in consumer goods and retail industry as of 2020, according to respondents, an AI solution can take over augmented conversations to answer customer questions and lead the customer on to the right agent in situations it cannot assist.
4.10. AI in the automotive industry
AI is being introduced in automotive manufacturing, including design, supply chain, development, and post-production. Furthermore, it is also implemented in the frameworks of ‘driver assistance’ and ‘driver risk assessment’ that are changing the transport sector, as well as aiding in the aftermarket services, such as predictive maintenance and insurance.
In May 2019, there was nearly 1.1 billion yuan worth of AI investment deals in the automotive industry in China, while the statistics given by Global Market Insights indicated that AI in the automotive industry exceeded USD 1 billion in that year and is estimated to grow at over 35% CAGR between 2020 and 2026. Below are some of the most notable aspects of AI application in this industry:
Manufacturing: Robots are simultaneously working with human and learning automotive manufacturing skills like designing, part manufacturing, and assembling with the help of AI. In the future, an entire plant can be operated by AI-powered robots.
Transportation: AI plays an essential role in technology for driver assistance, and it is commonly used in modern automobiles. One of the key characteristics Tesla once discussed for its new car line was that AI could be used to track the eye of the driver, whether or not one is sleeping/tired.
Services: Many AI applications forecast potential problems related to the efficiency of the engine, battery performance, etc. In addition, there are many AI-powered insurance providers who provide quick insurance coverage and consumer settlement claims.
5. Summary & Key takeaway
According to Statista, AI is predicted to contribute to global economic growth. A 2018 global survey estimates that AI will contribute to approximately 26.1 percent of China’s GDP in 2030, 14.5 percent of the GDP in North America, and 13.6 percent of UAE’s GDP. Some of these increases in GDP stem from improvements in productivity and product enhancements due to the adoption of AI technologies. It’s no doubt that Artificial Intelligence is one of the most promising aspects of technology that has been being applied from our most mundane tasks to highly advanced strategic implementations, corporate and military wise.
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