Growing up, did you ever dream of getting a robot assistant for yourself? Who knew that dream would come true! Today, Alexa and Siri have proved to be our very own assistants. While they may not be able to grab you a cup of coffee, they can certainly order it for you. Just a touch away, they have made our lives easier.
What may have seemed magical a few decades ago is considered ordinary today. Spaceships, teleportation, and assistant robots are not limited to sci-fi movies anymore. Today, humans can reach for the stars and explore worlds previously unknown. Unfortunately, human teleportation is not a possibility – yet. However, there is something called Quantum teleportation. It is a method that allows people to share information from one location to another at speeds which we could only imagine before and has opened up multiple new avenues of communication.
This brings us back to the question – What in the world is artificial intelligence?
What exactly is Artificial Intelligence?
Artificial Intelligence refers to the simulation of human intelligence in programmable machines. In other words, AI mimics the cognitive functions of humans. It learns from experiences and the latest information all on its own. For example, Siri utilizes a deep learning algorithm to make smart decisions and offer customised experiences to its users.
With digital marketplaces now becoming the norm, Artificial intelligence has also started taking over the world – one field at a time. Let’s take a look at some of the applications of AI in real life.
1. AI in Healthcare and Medicine
Artificial Intelligence is quickly taking over the healthcare industry. From synthesizing medicines to assisting surgeries – AI is helping healthcare workers save even more lives. Machine learning has enhanced the healthcare industry by offering services that can speed up the data collection processes. This can improve the experiences of healthcare workers and increase their productivity by reducing the burden of mundane tasks.
Many healthcare organizations have incorporated AI into their existing infrastructure to make up for a shortage of appropriately skilled labour. AI can be used to speed up the assimilation processes and reach accurate diagnoses. For example, PathAI is collaborating with major foundations such as the Bill and Melinda Gates Foundation, Bristol Myers Squibb, and Labcorp to develop drugs, offer accurate diagnoses, and supply healthcare facilities in areas with limited medical access.
Doctors are using Google Health to generate proper diagnoses in less time by comparing patients’ symptoms to an enormous dataset of similar ailments. This service can also be used to alert doctors if a patient’s condition gets worse. Various other healthcare organizations are making healthcare workers’ life easier. For example, Coala life is a digital heart monitoring system that has designed a device that detects cardiac diseases in patients. Aifloo is an e-health service for the elderly that keeps track of their health. This allows the doctors to save time and cater to other patients.
The future looks bright as there are various other advancements in AI such as Robot-assisted endoscopies, surgeries, diagnoses, and treatments of cancer in the healthcare industry. The healthcare market is rapidly growing and is estimated to reach $150 billion by 2026.
2. AI in Digital Marketing
Artificial intelligence is transforming digital marketing in the best way possible. AI technology is based on the same principles as human cognitive thinking. It can be utilized to predict future megatrends and microtrends and generate great results at a lower price. Artificial intelligence in digital marketing can deliver accurate results about predicted user preferences and media trends based on user behavior patterns. Netflix is one of the most distinguished content platforms that use this technology to garner accurate movie suggestions for its users, based on their likes and dislikes.
There is a deep fear that AI will take over the jobs of humans. However, it is unlikely that Artificial intelligence will replace marketers. However, there is a larger possibility of assimilation and AI working in tandem with human workers due to limited capacity for creativity within technology.
Businesses are using AI analytics tools and techniques to learn more about their potential customers to enhance their marketing strategy and increase sales. According to a study, the use of AI technology is predicted to increase to $6.4 billion by 2024 as it promises a massive increase in ROI (return on investment).
3. Customer Service
Many companies are investing in chatbots, as users prefer to use chatbots over apps. This is mainly because the use of AI chatbots offers quicker responses. According to Juniper Research, the use of conversational chatbots saves companies 2.5 Billion hours of service annually. Moreover, it is slated to reduce customer service costs up to $11 billion yearly across major sectors including finance and healthcare by 2023.
Interestingly, a survey conducted by RichRelevance found out that 40.7% of users find chatbots creepy and lacking intelligence. They prefer a real human over chatbots because they believe that chatbots are fast but not as effective. However, analytics tools are constantly improving and will offer a better customer service experience to users.
Without a doubt, chatbots are the future of customer service. According to this study, the market value for chatbots by the year 2024 will be $1.3 billion. The fear regarding the use of AI in marketing has decreased significantly. Baby boomers are more open to interacting with a chatbot than Millenials and Gen Z.
4. AI in Software Development
The ability of AI technology to come up with novel strategies with little to no human intervention is what makes it so great. Machine learning models do not have to depend upon human guidance. Software developers are employing AI to write codes, test and detect bugs. This saves time and boosts the efficiency of software development and apps.
However, conventional AI has its own limitations- it cannot be creative or use ‘common sense’ similar to humans. Nonetheless, numerous companies rely on the swift decision-making ability of AI. Machine learning models make decisions using the available data. They analyse it to predict future trends. The use of AI technology can make coding and software development much easier for future software developers.
Many organizations are creating ‘low-code development’ tools. These tools will allow designers and writers to create their own websites using low code development tools for rapid code generation. According to Peter Marston, the global market for custom application development services is estimated to increase by over $61 billion in 2023.
5. AI in Social Media
Popular social media sites like Facebook, Twitter, and Instagram use AI analytics tools to customize user experiences, based on behavior. Facebook and Instagram provide content based on the user’s preferences to increase engagement rates, while Snapchat uses AI technology to create innovative camera filters. LinkedIn also uses AI, to offer personalized content, connections, and job recommendations.
There are some ethical concerns such as theft of consumer data, location, and personal information that need to be considered. Other than this, the use of artificial intelligence tools has added significant value to social media.
Artificial intelligence is often used in social media marketing to enhance engagements by generating content specifically designed for potential customers. AI utilizes granular demographic and behavioral targeting to target audiences. The use of AI for the social media market is estimated to grow up to $2.1 billion by 2023.
6. AI in UX/UI
The function of UX/UI design is to improve user experience. UX/UI designers are implementing artificial intelligence to personalize applications and websites according to each user’s inclinations. This will considerably improve their overall experience. AI algorithms make sure that the interface is user-friendly and accessible. It is not enough to only make a beautiful website. According to Urexia, 70% of online businesses fail because of poor usability. Thus, it is essential to create an app that offers an easy-to-navigate, user-oriented experience.
When interacting with machines, humans tend to talk like machines as well. Designers are working towards creating a more human-like, interactive experience for users. AI utilizes A/B testing, which is a binary approach used to gather data and garner results that specify which design seems more appealing to its users. It considers data including the type of device being used by users, the number of visitors, demographics, drop rates, and a few other metrics. This allows the designers to create a much more comprehensive and empathetic experience for users.
Wix is a website developing software that artificially engineers websites without human design input. The Wix AI assistant will generate a website based on individual preferences including the location, name, and type of website.
7. AI in Creativity
With enough data, artificial intelligence can produce art as well. Arguably the most expensive AI-generated ‘painting’ by Christie’s was sold for $432,500. One of the creators of Obvious, Hugo Caselles-Dupré states that the system was fed 15,000 portraits of art starting from the 14th century to the 20th century and was analysed by the software to create its own piece.
We have already established that Artificial intelligence is incapable of mimicking human emotions, creativity, or common sense. However, humans and AI together can give birth to wonders. For example, a website called ThisPersonDoesNotExist.com creates AI-generated images of humans, cats, art, and even horses. This website is a cost-effective way for designers and creators to create art and protect themselves from any legal repercussions.
AI is taking over interior designing as well. The Chair Project is a collaboration between humans and machines, where AI creates chair designs and humans manufacture them. These chairs may not look like your typical chairs, but it’s a start! Moreover, AI Creativity has grown in other creative fields as well, including Writing, Music, and Choreography, etc.
8. AI in Gaming
If you have ever played a game of Solitaire with your computer, then you must have some idea about the use of artificial intelligence in Gaming. Game developers and designers are incorporating AI in video games to enhance user experiences and provide users with a more immersive encounter. Moreover, the use of VR/AR creates an intelligent and interactive game experience for the user. A well-known example of such a game is Pokemon Go. It took over our lives with its exceptional AR experience a few years ago. Pokemon Go incorporates machine learning to offer its users a more true-to-life experience. It uses your phone camera to overlay monsters and pokemons in your real-life background.
AI is competing with humans in real-life games as well. Google Deepmind especially designed a computer program, AlphaGo, to play the board game Go. Go is a board game of Chinese origin that was developed over three thousand years ago. It requires high levels of strategic thinking. AlphaGo utilizes neural networks to process the input of the Go game board and make decisions. It then generates multiple strategic moves based on that information. AlphaGo started out as an amateur player but it learned through experience and went on to become Go world champion by successfully defeating multiple Go World Champions.
In the future, AI deep learning algorithms will personalize a user’s game experience according to personal preferences. Indeed, AI is expected to take over the gaming world soon.
9. AI in Education
Artificial intelligence is changing the way we learn. Teaching methods are shifting towards a more customized mode of learning. AI promises a more inclusive future for students regardless of their backgrounds. Artificial intelligence can have a significant impact on the education options for students with special needs.
Students with visual, hearing and other physical impairments can utilize AI assistants like Siri and Alexa without physically interacting with them. Students can use their voices to type queries and open and close apps with the help of their AI assistant. AI promises a more inclusive future to children who may require special care, as they will be able to interact freely without any hindrances. Microsoft comes with a Microsoft translator that assists deaf learners. The teacher wears a headset that translates the verbal instructions into visual texts. Moreover, robotic assistance is also being implemented for the learning and management of students with Autism Spectrum Disorder (ASD) and Dyslexia.
ALEKS is a research-based online education platform that uses a deep learning algorithm that personalizes each student’s study schedule. It focuses on the specific needs of every student, based on their existing knowledge of a particular subject. Aleks claims its “students achieve mastery more than 90% of the time”.
AI is also affecting the way we learn new languages. Duolingo is a language learning platform available in over 22 languages. Duolingo customizes the user’s learning experience according to feedback and preferences. Duolingo Effectiveness Study reports an impressive improvement of 91.4 points in the language abilities of students on average.
Researchers have estimated growth of 47.77% from 2018-2022 in the usage of AI in the Ed-tech Industry in the US.
10. AI in Manufacturing
Artificial intelligence can help major industries save thousands of dollars and reduce negative impacts on the environment. AI can reduce environmental waste in manufacturing industries by utilizing eco-friendly materials. For example, The Open Quantum Materials Database (OQMD) thermochemical and thermoelectric energy sources, electrochemical energy storage: Batteries, and computational tools such as data mining to address critical energy challenges.
AI can also improve the manufacturing industry by collecting data and analyzing it to look for discrepancies in the production process. It can also provide a price forecast by analyzing and comparing prices like that of Amazon. AI is also capable of designing and generating different models based on the developers’ and designers’ costs, materials, and preferences. Keeping in view the needs of designers, these algorithms come up with various ideas to create relevant and accurate models.
Despite numerous myths about AI being unfeasible, expensive, and impractical in manufacturing, it has multiple uses in production. From checking the quality of production to manufacturing, AI can play a huge role in the growth of the industry. It is predicted that by 2035, AI technology will be responsible for generating US$3.8 trillion in Gross Value Added (GVA). Moreover, it will increase productivity by 40% in manufacturing and 15 other fields.
Can AI Replace Humans?
The question remains: will artificial intelligence eventually replace humans? The short answer is no. Artificial intelligence and humans will be working in collaboration with each other to create wonders beyond the imagination. This is because one can’t function without the other and while intelligent robots will most likely replace some jobs, AI will also give rise to new jobs in the field of tech and software development. It is certain that AI is going to be a regular part of our daily routine soon enough. Artificial intelligence is revolutionizing our world for the better. The future of AI technology looks quite promising. It has numerous applications in various fields and it is here to change the game.