How AI is Changing Industries Around the World

By SiliconIndia   |   Saturday, 01 December 2018, 05:54 Hrs
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How AI is Changing Industries Around the World



Having been portrayed over the decades in films like 2001: A Space Odyssey, Terminator, The Matrix and so on, artificial intelligence, or AI, has already gained a strong reputation as a strong (often malevolent) force to be reckoned with.



Whilst the films of old have exaggerated the capabilities of AI for the sake of cinema, it is true that AI is now becoming one of the most useful and relevant technologies in the world, powerful enough to promote a great deal of change. Here are some of the ways it is impacting various industries.



Robotics



The robotics industry and AI go hand in hand, as they are both ultra-modern and at the forefront of the technological revolution. Whilst robotics involves building hi tech machines using a myriad of components (such as industrial cables from suppliers like RS Components), AI relates more to software, and the ability to help computers ‘learn’.



When the AI and robotics industries converge, it may be possible to create intelligent machines which have a great deal of uses for the global population. They will, for instance, likely replace many of the more onerous jobs which currently exist.



Healthcare



Another industry which is set to be greatly impacted by developments in AI is healthcare. For instance, healthcare institutions currently have a wealth of data which they have collected for decades, which is incredibly challenging to analyse and interpret.



By leveraging AI for this task, it may be possible to discover previously unseen patterns and information regarding various diseases, which could massively speed up diagnoses and treatment for patients. AI could also be used to eliminate human error when it comes to diagnosing a condition/disease, potentially improving survival rates for some of the world’s most serious illnesses.



Financial Services



The financial services sector is arguably one of the most fertile grounds for AI to sow its powers of transformation. AI is already being appliedwith the likes of robo advisors capable of providing investors with advice on how and where to invest their money without needing human input.



Financial advisors will also be able to better advise their clients, with AI allowing them to access and analyse data from multiple different sources to better understand the unique needs of each individual they serve.



AI is undoubtedly a transformative and impressive technological wonder. As such, it is no surprise that it is attracting so much interest and investment from around the world, and will likely continue to do so for the foreseeable future.



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