Artificial intelligence has many great applications that are changing the world, not just of technology, but all kinds of markets. At present, the evolution of AI and its continuous rise is clearly overwhelming but at the same time promising. The healthcare industry is a good starting point to understand where AI is now. An advanced AI platform can access 200 million pages of structured + unstructured content at a given time, and with the aging of the Baby Boomer generation, the demand for doctors might be 90x higher than supply by 2025 (Folick, 2019).
Moreover, one of the most common applications of AI today is in the field of speech recognition. Alexa, Siri, Cortana and Google Assistant, and more personal virtual assistants, can understand speech and respond to it accordingly. According to Auer-Welsbach (2017), the biggest breakthrough in speech recognition thus far has come from IBM, which has managed to reduce the error rate in conversational speech recognition to 5.5% (relative to the human error rate is of 5.1%).
Here are some more examples of AI succeeding in practice in various industries:
- Consumer Goods
Coca-Cola, the largest beverage company in the world is further winning the global market has embraced new technology and puts that data into practice to support new product development, capitalize on artificial intelligence bots and even trialing augmented reality in bottling plants.
Meanwhile, despite being the leading brewery in the world for 150 years, Heineken is looking to catapult their success specifically in the United States by leveraging the vast amount of data they collect. From data-driven marketing to the Internet of Things to improving operations through data analytics, Heineken looks to AI augmentation and data to improve its operations, marketing, advertising and customer service.
2. Culinary Arts
AI-enabled Chef Watson from IBM offers a glimpse of how artificial intelligence can become a sous-chef in the kitchen to help develop recipes and advise their human counterparts on food combinations to create completely unique flavors. Working together, AI and humans can create more in the kitchen than working alone.
3. Financial Services
American Express is leveraging its data flows to develop apps that can connect a cardholder with products or services and special offers. They rely heavily on data analytics and machine learning algorithms to help detect fraud in near real time, therefore saving millions in losses.
4. Health Care
Neuroscience is the inspiration and foundation for Google’s DeepMind, creating a machine that can mimic the thought processes of our own brains. While DeepMind has successfully beaten humans at games, what’s really intriguing are the possibilities for healthcare applications such as reducing the time it takes to plan treatments and using machines to help diagnose ailments.
It’s true. We’re living through an extraordinary moment in technological history. The rise of artificial intelligence (both in theory and in practice) has revolutionized computer science and the workplace. While it is starting to raise questions towards its promise for the future of, not just the workforce, but humanity, artificial intelligence seems to be doing and offering more good than harm, only if leveraged properly.
Croyten paces itself alongside the use of AI to better its services in providing cybersecurity. With its state-of-the-art software solutions, our company takes a unique and innovative approach to help companies plan, protect, and prevent. If you need assistance in building up your organization become at par in an AI-driven market, contact us and feel free to check out our website at croyten.com.