Artificial Intelligence (AI) is transforming the world and is dominating the entire technology developments. According to various survey reports the AI adaptation will result in economic growth of 14% by 2030. It is supposed to add $15 trillion to the economy globally. AI has boosted productivity and has impacted businesses and industries positively.
With wide range of applications and focus towards developing a better world AI is ruling the world with the worldwide presence in all the industrial sectors. Major sectors impacted by AI are Healthcare, banking, transportation and consumer goods.
Let us have a look at some of the major sectors that are impacted by AI.
Healthcare: This year has changed the definition of healthcare. Healthcare is among the most demanded services. The social distancing norms in the healthcare give another level of opportunities to AI and Robotics. Virtual assistant to monitor patients helped in 24×7 monitoring of the critical patients. Virtual bots, they answer commonly asked questions by patients very appropriately. Virtual recommendation system is capable of recommending the right doctor based on patient history. AI managed all the simpler and repetitive tasks for doctors so that they can focus on diagnosis and treatment.
Banking: AI in the banking sector is of great advantage, it has impacted all the aspects of banking whether we talk about core banking functions or improved customer experience. Virtual chatbots helped managing and answering customer queries. The era is of customization, chatbots are capable to providing personalised interactions. Employees can focus on higher value tasks instead of being repetitive work. Banking functions includes a lot of calling and reminding to customers, AI has handled all these works very accurately.
E-Commerce: AI has improved the supply chain of the e-commerce by automating the whole supply chain. Inventory management, analytics and forecasting are some of the features of AI that has helped reducing the led time. Better customer reviews are the most precious outcome of the AI and automation in e-commerce.
Manufacturing: Industrial automation has changed the methodologies of working for the manufacturing sectors. The employees can focus on planning and innovation while automated machines can take up the load of tedious time taking tasks. Labour requirement has also shifted towards skilled labour that are capable of handling those automated machines.
Cybersecurity: With the increasing implementation of AI the need and processing of data has increased. The fear of cyber threats has increased with the increasing applications of AI. But when we have problem, we have to find the solution too. AI is capable of maintaining the cyber security, and it is also helping in testing and quality assurance.
It is clearly visible that AI is already ruling the world. Every sector is trying to make full use of automated systems. The main focus of every industry is to increase efficiency by optimizing the production schedules. AI is helping in all the possible ways; it has increased the workload on labor and has made the whole process very fast. We should maintain the pace with developing technologies and should try to take benefits of technology. New trends need new skills, keep learning and keep updating your knowledge.
Unawareness is also harmful these days.
