I am Will Smith. I am a Professional Content Writer from ScaleXM.
In today’s data-driven era, most companies operate with an aim to become smarter, by taking advantage of market opportunities. With the help of advanced technologies, companies are making improvements in their processes.
Using this astonishing technology, companies can achieve new levels of efficiency in data analysis that impact their whole business. The rapidly growing implementation of AI across numerous industries will drive momentous growth in the coming years, with AI software revenue set to reach approximately $90 billion by 2025.
Though AI is greatly impacting several industries and businesses. We can expect AI (artificial intelligence) to bring out more radical changes in various aspects. There are various key AI trends that we can expect in 2020.
In this blog, I'll look at the impact of AI mainly on two rapidly progressing industries: the Healthcare Industry, and the Automotive Industry.
The impact of Artificial Intelligence on healthcare is truly mind-blowing.
In recent years, AI has forced a paradigm shift in the healthcare industry.
This outstanding technology is revolutionizing the health sectors in numerous ways. Whether it’s about drug development or clinical research,
AI is playing a key role in improving patient’s outcomes in terms of better treatment methods, speed of care, and more at reduced costs. Additionally, it allows doctors and hospitals to access huge data sets of potentially life-saving information. The latest computing power helps in discovering and analyzing various large and small trends from data and even makes predictions by means of machine learning, which is designed to identify potential health outcomes.
AI’s promising factors like easy accessibility, cost-effectiveness and high-efficiency are attracting huge investments from both private and public sectors in the healthcare industry. As per a study, the investment rate will touch $6.6 billion by 2021. Another report by Accenture shows that AI applications can create annual savings of $150 billion by 2026 for US healthcare.
Some of the key examples of AI tech innovations in the health care industry include:
Some of the key ways in which artificial intelligence will revolutionize the healthcare industry include:
The potential for AI in the healthcare industry is quite vast. It is being used and will continue to be utilized for the health and well-being of people, early detection of diseases, diagnosis, clinical decision making, treatment programs, research, training and much more.
The AI applications in the automotive industry are not only about self-driving cars but also about keeping ourselves safe, on schedule and connected while driving. Due to the growing use of AI applications in the automotive industry, it is estimated that the value of AI in automotive manufacturing and cloud services will exceed $10.73 billion by 2024.
Now let’s look at the various applications of AI in the automotive industry that is impacting automakers, vehicle owners, and service providers:
There are basically two kinds of functionalities when talking about driving cars with AI. These functionalities can be categorized as: a) Driver assistant and b) Driverless automobiles.
It is important to note that connected vehicles need a lot of data to do their job perfectly. The application of AI cloud platforms ensures that data is available as and when required. Cloud services provide an ideal platform for staging and deploying AI technology in the automotive field, which includes analytics, big data access, and centralized connectivity. AI cloud services can help in:
AI automotive insurance is all about providing a real-time risk assessment of automobiles. AI helps to make the whole process of filing claims in case of accidents, fast and reliable. With the help of deep learning technology, AI automotive insurance helps in:
AI also plays a key role in building automobiles. Smart robots are being used in the manufacturing process along with their human counterparts to bring out the best designs and output. Additionally, various Automated Guided Vehicles (AVGs) are being used in automobile manufacturing sites to move materials around automotive plants without human intervention. AI also empowers robots to identify defects or irregularities in materials and alert quality control personnel.
Other than watching the road, AI also enables cars to keep an eye on the driver. By utilizing advanced cameras and IR sensors, AI software detects driver behavior in various key areas including: Driver identification (It detects whether the driver is in the vehicle or not), Driver recognition (It detects which driver is operating the vehicle), Driver monitoring (It detects distracted driving and alerts the driver to drive safely on the road), Infotainment control (with simple hand gestures, drivers can control the infotainment system of the vehicle without the need to take their eyes off the road).
AI technology is growing persistently and the adoption of this leveraging technology is also rising day by day. There is no doubt that AI has been transforming numerous industries. As AI technologies support assorted environments and scale to meet the changing needs of various industries, choosing the best AI software development services can help businesses in their digital transformation.