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DECIPHERING INDUSTRIES THAT ARE DISRUPTED BY ARTIFICIAL INTELLIGENCE Posted on : Dec 14 - 2020

Why artificial intelligence has become prevalent across diverse industries?

Today’s businesses are very complex and doing everything, from bringing innovating strategies to leveraging advanced technologies, to stay competitive. Artificial intelligence emerges as a crucial technology for enterprises, providing unique capabilities by simulating human intelligence. Organizations capitalize on this technology to fulfill an array of business functions and meet their customers’ needs effectively. As artificial intelligence is rapidly being utilized across all sectors, the High Tech industry is leading the adoption of this technology with a 37% share.

Despite this, the influence of AI technology can be seen in every industry. To assess its potential impact, this article will explore how diverse industries are taking advantage of AI applications.

Manufacturing

Artificial intelligence has a key role to play in manufacturing, making factories smarter by automating order management and scheduling. A report from Accenture estimates that AI-driven technologies could bolster labor productivity by up to 38% across 16 industries, including manufacturing, throughout 2035. AI in manufacturing can perform quality checks, predict failure modes and maintenance, enable generative design, making use of large big data sets and help deliver effective customer service.

Healthcare

Healthcare is recognized as a more complex industry as it deals with an individual’s care and information alike. AI provides a game-changing solution to medical professionals, improving virtually every aspect of the industry from robot-assisted surgeries to securing patients’ data against cyberattacks. This technology has been crucial for technological advancements in healthcare. It helps in the diagnosis and treatment of diseases that are complex to humans such as cancer. It also helps patients with minor aches, pains and illnesses through virtual nursing.

Retail & E-Commerce

AI has the potential to benefit the retail and e-commerce industry by automating data, stock and inventory analysis that facilitates better forecasting of sales. AI-based tools such as chatbots can help companies by answering customers’ queries immediately and 24/7 without human interventions. It can also remind customers with incomplete sales and abandoned carts with offers and discounts in order to induce a purchase. Retailers use artificial intelligence in their logistics side of the business to reap greater ROI. View More