Artificial intelligence has revolutionized the way people work today. From streamlining business operations to better decision-making process, it has shown its real potential across different industries.
According to a study by PWC, the global GDP is going to be 14% increased in 2030 that will result in higher AI adoption. Thus, it will contribute an additional $15.7 trillion to the whole economy.
In this blog, we will discuss some of the top industries that will be revolutionized by Artificial Intelligence.
Check out the list below.
1) Manufacturing Industry
This tech has unlimited potential in the world of manufacturing. From preventive maintenance to the human tasks automation, AI will allow a more efficient work that will be much error free and has higher quality. The initiatives of technology giants like Microsoft (AI for accessibility) and smaller leading companies like AtBot will revolutionize AI for all information workers.
2) Education Industry
As we are moving ahead with a new generation in the educational industry, it becomes quite obvious that the change is needed to make their basic concepts clear. The most pressing question is what that change should be and how to achieve it. Leveraging artificial intelligence to create a customized, dynamic and effective learning path for any subject can be an incredible facilitator for such a revolution.
3) Healthcare Industry
This industry has transformed with AI and benefitting a number of people across the globe. Computerized X-ray vision shows promises to help detect diseases, natural language processing (NLP) shows promise in drug safety, and ML shows promises of finding patterns within a population. In terms of true interoperability of information, which supports the safe exchange of health data, all these promises will join forces to become advances for patients.
4) IT Service Management
AI technology, when used in corporate and government networks, will be a dominant feature of IT service management (ITSM) in the future.
AI will improve the use of technology in homes and in the workplace. AI technology will cause a disruptive change in ITSM offers in three key areas of Point of Entry (creation of incidents/requests), automated back-end processes and knowledge management.
AI will affect the IT services management industry in the coming years, mainly due to the resolution of recurring losses, self-service for low-level incidents, improved organization and optimization and instant information, such as meeting times through personal assistants.
5) Energy & Mining
Artificial intelligence industry can be implemented in smart power grids to be more efficient in the supply of energy and to predict when batteries and other equipment will fail. The implementation of AI will make energy exploration an easier and more economical task.
Artificial intelligence & Future, machine learning, are trends that will disturb the energy industry, which will generate huge savings opportunities. Large companies like General Electric are looking to the future to use artificial intelligence to optimize the way electricity comes out of batteries and points of consumption. According to Bloomberg News reports, artificial intelligence technology in energy and mining could eventually save $ 200 billion worldwide.
6) Supply Chain Management Industry
The future of artificial intelligence can account for more factors and complicated non-linear dependencies and correlated data much better than a human. Artificial intelligence can predict the future without human bias, but with an adequate risk assessment, and find optimal decisions even under an asymmetric cost profile. This leads to improvements in each decision.
7) Fashion Industry
In this industry, change has been seen by the revolution of artificial intelligence for learning about purchasing patterns of consumers across the globe. Artificial intelligence in industry predicts the latest fashion trends which is a great implementation till now. It helps users choosing their desired clothes from their favorite fashion store and they can easily choose from as engine backed by AI.
8) Agriculture industry
Using artificial intelligence in industry, Agricultural specialists are developing autonomous robots programmed to handle routine agricultural tasks, such as harvesting crops in a larger volume of human workers. The most popular applications of AI in agriculture range from robotics to crop and soil monitoring to predictive analysis.
AI is implemented in the monitoring of crops and soils, implementing computer vision and deep learning algorithms to process data captured by drones and/or software-based technology to monitor the health of crops and soil. Predictive models of automated learning guided analysis are being developed to track and predict the impact on crop yields that face erratic climate change.
9) Infrastructure Industry
The revolution of artificial intelligence is going to give a boost to this industry. It ensures the data can be systematically processed and organized in order to help in knowing the urban areas and how they are changing at a fast pace these days. Artificial intelligence industry provides a different and new way of looking at the growth and development, safety, utility use, and many more.
10) Retail & e-commerce industry
This industry is greatly impacted by AI 2019. The global spending of this is expected to increase to $ 7.3 billion per year by 2022. Retailers will use virtual reality and augmented functionality in advertising. The immersive display of the product catalog will grow dramatically, and shoppers will experience the products before buying. It is anticipated that by 2020, chatbots will boost 85% of all customer service interactions.
So far we have seen the list of industries to get transformed with the revolution of artificial intelligence in 2019. It is redefining industries by automating processes, disrupting how business work and automating processes.
There is a tremendous opportunity for AI to increase human capabilities in all industries while capitalizing on unique human capabilities for creativity and agility, human characteristics that are hard to imitate for computers.
Hence, Businesses expect AI to have a positive impact on growth (90%), productivity (86%), innovation (84%) and job creation (69%) in their country and industry.