If you thought that only AI-driven automobiles had hit the market, you could never be so wrong. It is a lot more than that. We are being driven by AI every second of our life. Ambitious technological giants leave no stone unturned to fish out one innovation after another. All this has an aim, and that is, to leave the monotonous jobs behind.
While searching for this article, you were also driven by AI. Once everything becomes automated, you can rely on strategies and tactics. Right after you finish reading this, you might use social media. That is another area that AI has affected in a wholesome manner. Now, you should get over Terminator movies and concentrate on the fundamental activities. Read about the myriad real-world applications of AI or artificial intelligence here.
Banking and Finance
AI applications in this industry are growing faster than one ever imagined. Moreover, these are the first industries to adopt and adapt to them. Because of AI, you get credit card frauds detected earlier, preventing huge damage and hassles. Additionally, you must have interacted with chatbots online on the banking sites. Such chatbots are already solving more than a million queries each day across the globe. Such an application of AI allows customer service agents to concentrate on complex problems rather than wasting call time on monotonous ones.
In fraud detection, AI studies the transaction history and behavior and stops anomalies right at the first stage. Taking about the finance sector, which also includes investments like cryptocurrencies, the future seems bright. The industry is utilizing ultra-high-frequency trading to improve stock performance. Companies across the globe are introducing new stock treading techniques that mimic AI behavior. The systems can recognize the performance patterns of stocks over a while. Additionally, this will help everyone make better trading decisions.
One of the first applications is predicting property prices over some time. It is precious in estimating market trends and metrics. AI also uses regression algorithms to calculate the price range for various buildings and open spaces. It involves the generation of data from old inputs into the ecosystem.
Additionally, it also considers home quality features and demographics to make forecasts. Another recent technological innovation is virtual tours, which have changed the home landscape. Now, customers can attend virtual walkthroughs of properties if they cannot go for site visits. This is more apt for customers buying them in a remote land or internationally.
Conversational AI is also providing the best services to customers. You can ask your queries 24/7. The response time gets reduced, and the error rate also gets down to zero. Different real estate apps are also making it easy for buyers and sellers. Today, customers looking for real estate properties get instant data that is updated. Moreover, such apps help connect with an agent without dialing a number separately. In addition to all of the above smart homes are also making lifestyle fuss-free and technologically enhanced.
Healthcare is also included in this whole ecosystem of artificial intelligence. Most hospitals and medical diagnostic centers are relying on AI today. One example of AI in medical care involves patient data availability online. Today, health records are being created online, and patients can access them from across the world. Moreover, such data is transferable from one medical company to another.
Additionally, specific healthcare centers have developed AI diagnostic tools to predict a stroke before it strikes. The physician attending to the patient in the hospital gets an immediate notification. Timely intervention helps to stall the attack. Many digitized devices have also entered the healthcare fraternity, predicting heart attacks and identifying cancer cells without invading the body. These are just a few of the areas in healthcare where AI has made progress today.
Today, the field of marketing has benefited immensely from AI. Most retail and product-based organizations have started studying customer behavior online. You must have noticed similar kinds of products coming afloat on your social media and browsers when you just searched online. These AI-enabled systems map your IP address and try to offer more of the kind you just looked for.
Shortly, you will buy a product just by clicking a picture. Such is the scope of AI in marketing. AI in marketing uses data collection, analysis, and observation of trends to offer you what you are looking for. It also increases the speed of marketing activities.
These are a few areas where AI has impacted considerably. There are many more industries that apply AI in unimaginable ways. You will come across more such innovations in the days to come and reap the benefits.