5 Major Applications of Artificial Intelligence
Humans are inherently not very strong: with their weak limbs, not much has been conquered merely by the use of force. The human mind, however, has no bounds. Humans have become the world’s dominant race with our ability to harness and put other forces to use. To this premise, every aspect of the Anthropocene can be summarized. In the past, revolutionary inventions like the the steam engine and more recently, the Internet have put human progress at an unprecedented pace. Each innovation increases human productivity and makes our lives easier.
However, very recently, artificial intelligence has become the next brainchild of information technology, hailed as the tech industry’s biggest invention after the Internet. With the benefits of A.I. impacting the global economy, many wonder if the technology will take over all jobs in the future. The applications are immense: from making practical problem analysis models to making our tech industry smarter, causing A.I. to constantly rise. Although this prevalence was not highly visible in the past, today, AI is conquering the mainstream now, with its wings spread to even our personal computers in homes. In fact, A.I. is being used so abundantly that it is startling to actually fathom our dependence and usage of A.I. in our daily lives, from e-commerce to the entertainment industry. Each of these is an example of the usefulness of this novel technology; in this article, a few of these examples will be looked at:
1) Marketing
The future of the digital marketing industry is being supplemented and transformed greatly by the usage of artificial intelligence today. A few years back, algorithms were used to make market analysis and predictions about the growth of a product and consumer behavior. Today, AI-powered engines provide advanced analytical services to target certain populations for the advertisement of a particular product.
This has led to the birth of A.I. driven marketing campaigns and email advertisement services. Besides, A.I. is also responsible for allowing the designing of personalized advertisements that are predicted to be the most effective in capturing consumer attention. This remarkable feat has boosted the efficiency and effectiveness of advertisement services for even small startups, connecting them to their potential customers.
2) E-Commerce
Investments are no longer a mere gambling activity now: many investment firms and mutual funds acquire A.I. service for analyzing market trends and devising financial decisions in the commerce sector, the stocks market, for example. With their high machine-learning ability, the A.I. bots are able to study financial trends, calculate the potential risks and suggest the most valuable stocks for upgrading one’s portfolio.
In this way, online stock brokerage services are winning the Wall Street by making well-thought financial decisions and helping even the otherwise mediocre-skilled investors grow their profits. It won’t be a long shot to see a scenario where A.I. rules all of the e-commerce industry and ensures no funds are lost in poor business decisions again.
3) Cyber Security Services
Maintaining proficient cyber-security, both online and offline, is a big challenge for the info-tech industry today. Today, cyber-attacks are becoming stronger and more and more sophisticated with each day, posing an ever-inflating threat to the integrity of software assets of businesses and even governments.
A.I. has greatly helped the concurrent evolution of cyber-security services and the development of anti-malware defenses: it possesses the unique ability to learn and morph itself to create a stronger protection against such attacks, protecting valuable assets on whom even tech giants such as Google and Facebook depend. With each attack, A.I. is able to learn the behavior of computer viruses and strengthen the firewall, making the possibility of such breaches lower with each attempt.
4) Customer Service
A good company depends greatly on its ability to facilitate its consumers, listen to their complaints and respond with appropriate services. Where humans have been used in the past for this job, A.I. sets the bar even higher. Unlike their human counterparts, A.I.-powered customer service engines are available round the clock to provide automated services for improving the consumer experience.
No more are the calls made by customers passed through several responders before connecting to the relevant person: A.I. bots analyze the nature of the problem, come up with the best possible solution and allow users to float smoothly in their experience with any service-provider.
5) Entertainment Services
Today, entertainment services providers like Netflix, Amazon Prime and Spotify rely on artificial intelligence to work their way through with their subscribers. Each of these streaming services track user preferences and make appropriate recommendations such as certain movies and music to users with the help of predictions made by A.I. bots. Doing so has great benefits of increasing user activity and increasing subscription base on these platforms.
Based on the personality evaluation of the user, A.I. also makes tailor-made recommendations to cater for the tastes of every person differently. In fact, the A.I. might go even as far as tailoring the language used in recommendation emails to use a script to which a certain user might be the most responsive to.