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What is Artificial Intelligence?
Artificial Intelligence (AI) is an innovative technology that focuses on the development of intelligent machines/software which think, learn, work, and react like humans. AI-based systems don't require human intervention and execute tasks with exceptional accuracy. Machines can be programmed using software to mimic humans and act automatically. We can say that the concept of AI is based on learning, reasoning, perception and automation. Although the term "Artificial Intelligence" was first coined by John McCarthy, an American scientist in 1956, this technology has seen great advancements in the past few years only.
AI in our Daily Life
AI has completely revolutionized the world in many ways. While science fiction usually portrays AI as robots, in reality, it is present in our daily lives. Voice assistants, face recognition apps in smartphones, video games and Google Maps are some of the common real-world examples of AI. We regularly use them but don't realize that such products and services are based on Artificial Intelligence.
Benefits of Artificial Intelligence
The advantages of Artificial Intelligence (AI) are endless. Humans get bored, but automated machines don't. There are various repetitive tasks that we do every day. AI takes off boring tasks from our shoulders and allows us to focus on other creative things. Moreover, how tough is the task, AI-based machines execute tasks without any error. No breaks, no errors!
It's not like that only trained professionals can leverage the benefits of AI. Even the common man can embrace the benefits. Augmented Reality (AR) mobile apps enable consumers to visualize products in their own home without buying them first. Before purchasing a dress, you can simply put it on your picture and see how it looks.
AI also helps humans to explore things that are beyond their reach. Many space programs are completely based on artificial intelligence and helping scientists to discover innovative things. Over the years, AI has played a crucial role in research into our planet and the solar system.
- 24/7 automated customer interactions
- Enhanced sales and revenue
- Increased customer satisfaction and retention
- Highly accurate business forecasting
- Improved productivity and operational efficiency
- No scope for human error
- Competitive edge in the market
- AI makes your business future-ready
- Automation saves time and money
- Data security improvement
Artificial Intelligence (AI) in Industries
Medical & Healthcare
The impact of artificial intelligence in the medical & healthcare industry is truly life-changing. Various AI software and applications have been developed for diagnosis, drug development, treatment outcomes assessment, automated clinical decisions, etc.
Banking & Finance
Artificial intelligence has completely changed the way banks and financial institutions do business. Personalized banking, fraud prevention, risk management, credit decisions and market prediction are some of the areas where AI has left a significant impact.
Last few years have seen rapid advances in the automotive industry due to AI technology. Automotive companies are focusing on developing driverless cars which will be the future of transportation. AI is also being used in vehicle simulation, quality control and prototyping.
Aviation companies are increasingly adopting artificial intelligence for aircraft maintenance, automated flight operations, machine vision, aviation safety, etc. AI-powered virtual assistants help airline companies to boost the efficiency of pilots.
Artificial intelligence has redefined the retail industry. Online retailers are using AI-based applications to take the online shopping experience to the next level. AI is also used by eCommerce companies to predict the behavior of customers for increasing sales and revenue.
From automated tutoring to student performance assessment, AI has changed everything about the education system. Personalized courses designed using AI are more interactive and productive. The technology has benefited both the students and the educational institutions.
Future of Artificial Intelligence
No doubt Artificial Intelligence is the future of mankind, our lives, our planet and of course our businesses. With AI, the world is evolving faster and we are seeing innovative things that we never dreamt of. Self-driving cars are under testing phase and soon we will see them flying like airplanes. Medical scientists around the world are working on the 3D organ printing technology that will allow them to fully develop parts of the human body, from the skin to internal organs. Imagine a world where a patient doesn't have to wait for a week or even a day to get life-saving organ transplantation. We can anticipate new inventions in the future thanks to the AI technology.
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