Technology is playing a vital role in the transformation of every sector to make the nation more digital-friendly and capable. New-age technologies such as AI, ML and IoT are adding value to various industries and not only transforming but also modernizing their offerings.
Also Read: Artificial Intelligence: Its benefits and challenges
Below mentioned are some of the industries that are getting disrupted by AI:
Autonomous Vehicles – This industry has the potential to save time, and limit energy consumption. AI-powered software systems enable autonomous vehicles to understand their immediate environment in real-time and navigate it safely.
Advertising Industry – AI algorithms help brands to learn more about their customers’ taste and preferences. This allows marketers to stand out in a crowded advertising landscape. Equipped with AI-powered intelligent systems, brands can run more effective advertising campaigns that directly interact with their target audience. From customer understanding to creative execution to delivery, AI has completely transformed the way the advertising industry operates.
Education Industry – AI is increasingly being used by the educational institutions to develop new tactics for helping students to learn. AI solutions fill the gap between learning and teaching. AI offers personalization, efficiency, and streamlines admin works, by giving teachers more time to better understand and adapt. It also offers a better experience for schools, teachers, and students.
AI enables the education industry to fuse predictive algorithms with the personalized data of each student to come up with a unique and customized learning plan for every individual.
Finance Industry – Financial institutions use AI to make better recommendations to their customers driven by insights and deeper understanding. AI-powered systems enable the finance industry to create predictive models of individual earnings (both current and potential) and repayment capacity by connecting several data points. It fast-tracks the pace with which credit decisions are taken.
These systems can also be used by the industry to mimic human logical reasoning skills, which allow them to understand unique circumstances and personal preferences of each customer. Equipped with these insights, financial institutions can then discover patterns of their customers and deliver personalized advices.
Gaming Industry – AI in gaming results in intelligent and immersive video gaming experience facilitated by characters behaving creatively as if they are being controlled by a human game player.
The gaming industry realizes AI’s potential and is increasingly incorporating it to create intelligent video games that can gauge and are capable of understanding player’s mindset and inclinations. Equipped with these insights, the AI-powered games can alter their ending based on the player’s liking. These kind of interactive games give its players a sense of realism and a responsive gaming experience.
The revolutionary power that AI possesses and the transformation it can bring about in different industries cannot be undermined. By enhancing experiences, AI can augment the offerings for a plethora of industries. PwC predicts that AI could add as much as $15.7 trillion to the global economy by 2030. Hence, it wouldn’t be incorrect to say that the AI-led innovation can greatly contribute to global economic growth and productivity.