Top 7 Sectors Using Artificial Intelligence

April 6, 2020 Off By studyshout

AI has become a buzzword nowadays. Artificial Intelligence or AI is changing our day to day life. There are so many sectors or industries where machine learning and AI are being used.

AI is the science of creating intelligent computer programs. It helps to automate different functions and tasks. The advancements in technology are making human life simple and easy. Various fields/sectors are getting benefited from AI. Here’s the list of top 5 sectors using artificial intelligence:

1. Healthcare & Medicine

The healthcare and medicine industry has been enhanced very much due to the presence of artificial intelligence. To some extent, you will find the use of AI in the healthcare sector at almost all levels. AI has been used to smoothen the tasks of desk receptionists, CNAs, doctors, nurses, surgeons, etc. AI-powered robots provide assistance with various types of surgeries. Apart from this, AI is also used for keeping medical records.

2. Finance

Artificial Intelligence is also changing the financial industry. The way financial services were provided is changing nowadays. You will notice that almost every financial company has started adopting AI in one way or another. AI is being used for saving time and reducing costs. In the banking and financial sector, AI is used in credit decisions, risk management, fraud prevention, trading, personalized banking, and process automation. So this is how artificial intelligence is enhancing the smoothness of banking & financial transactions.

3. Advertising & Marketing

AI is also changing traditional marketing and advertising methods. Traditional or old-school marketing methods are television, radio, newspaper, etc. There are so many problems with old school marketing methods. AI also helps to enhance the marketing strategy of companies. Let’s understand this with an example. What it would be like if the hoarding is capable of learning the reactions of the person viewing the hoarding? This is possible through AI. This is possible through the body-tracking technology in the hoarding poster. Artificial intelligence in marketing & advertising also includes chatbots, ad targeting, etc.

4. Education

Education is another sector where AI is booming nowadays. AI can create a great impact on the entire education system. It is essential to modernize and change the education system. With classroom-based or traditional study, students don’t get motivation for study. Educational technology actually enhances the learning process. Some of the major advantages of AI in education are implications in administrative tasks, smart content, personalized learning, global learning, and new efficiencies. One of the best things about educational technology is it does not limit the person based on his/her location. AI promotes a global learning experience.

5. Small Business

For business owners as well, AI can be a blessing. AI automates all the tasks for the business so that you can focus on other tasks properly. If your small business can utilize AI in the right way, you can have great potential for growing your business. Some of the best ways you can use AI for your small business are: manage employee & client expenses, create email lists, use chatbot agents for finding prospective clients, filter out data, categorize & observe trends in the bookkeeping, provide customer recommendations, and automate some office tasks.

6. eCommerce Business

If you are selling products on your eCommerce store, you can consider utilizing AI. With the use of AI, you can automate so many tasks. Apart from this, you can also increase sales. Some of the major applications of AI in eCommerce are chatbot marketing, image search, handling data, recommendations system, inventory management, cybersecurity, providing after-sales service, Customer Relationship Management, and increasing sales. With the availability of different digital platforms and the great presence of the internet, eCommerce or online businesses are continually growing. AI is helping all the eCommerce stores to further grow their business.

7. Recruitment & Human Resources (HR)

A company consists of various departments. One of those departments is the human resources, also known as HR. Earlier, AI was used in HR just for keeping records and automating some important tasks. But over time, with the advancements in technology, AI has enhanced the functions of HR and recruitment. Some top applications of AI in HR are recruitment & onboarding, internal mobility & employee retention, automation of administrative tasks, reduce human bias, data-driven decision making, and retention.

 

So here we can conclude that artificial intelligence is adding automation and smoothening the functions in various sectors.

The presence of AI in different sectors such as finance, healthcare, HR, eCommerce, small business, education, and marketing helps to save the cost and increase the efficiency of different functions by adding automation in them.