“Artificial Intelligence is the new electricity.” Andrew Ng
From self-driving cars to SIRI, artificial intelligence (AI) has advanced rapidly. Artificial Intelligence is simulating human intelligence and the processes involved. AI is a technology that transforms all areas of life. It enables people to rethink the way we integrate information, analyze data, and use the resulting information to improve decision-making.
Artificial Intelligence (AI)
Artificial intelligence aka AI is the ability of a computer or computer-driven robot to perform tasks and projects. The term is often applied to the business of building systems with the intellectual processes characteristic of human beings, such as the ability to reason, find significance, summarize, or build on past experiences.
Artificial intelligence algorithms are intended for making decisions, often using real-time data. Using sensors, digital information, or remote inputs, AI merges data from a wide variety of sources, instantly analyzes hardware, and tracks information derived from that data. Hence, AI is planned by deliberate people and draws conclusions based on their instant analysis.
However, despite continued advances in computer processing speed and memory capacity, so far, no program can mimic human flexibility over larger areas or in races requiring a lot of regular information.
In addition, some programs have reached the performance levels of human experts and professionals in carrying out certain specific tasks, with the objective that artificial intelligence in the narrow sense is found in applications as diverse as medical diagnostics, computer and voice search engines or handwriting recognition.
The three fundamental concepts of artificial intelligence are machine learning, deep learning, and neural networks.
Artificial intelligence is a collection of many technologies working together to enable machines to identify, comprehend, take actions, and discover with levels of intelligence like those of humans. Maybe that’s why it seems everyone’s definition of AI is different: AI isn’t just a thing.
Top 10 AI Applications
1. AI Applications in Agriculture
Problems such as climate change, population growth, and food security concerns have prompted the industry to seek more innovative approaches to improve crop yields. At this very point, the role of AI and AI applications comes into the picture. With the implementation of AI, organizations use automation and robotics to help farmers find more efficient ways to protect their crops from weeds.
As the demand for food increases, organizations are using automation and robotics technology with integrated AI to help farmers find more efficient ways to protect their crops from various elements such as weather, weeds, consumption of the yew market, and much more.
The latest upgradation in AI applications is in the form of image recognition to identify possible crop defects by capturing images through smartphones and other devices. Users who are mainly farmers, then receive soil restoration techniques, advice, and other possible solutions to remedy the defects identified.
The Berlin-based agricultural technology start-up called PEAT has developed an app called Plantix which identifies potential defects and nutrient deficiencies in the soil through images.
Blue River Technology has developed a robot called See and Spray that uses machine vision technologies such as object detection to accurately monitor and spray weed control on cotton plants. Precision spraying can thus help prevent herbicide resistance. These are some of the applications of AI in the field of agriculture.
2. AI Applications in Banking
Companies have relied on computers and data scientists to determine future market models. Trading primarily depends on the ability to accurately predict the future.
AI is excellent for this because it can process a huge amount of data in a short period of time. It helps to observe patterns in past data and predict how those patterns might repeat in the future.
In the age of ultra-high frequency trading, financial organizations are turning to artificial intelligence to improve their stock market performance and increase their profits. The new system based on AI stores a large amount of price and trade data on your computer. These saved millions of dollars. Many banks have already adopted AI-based systems to provide customer support, detect anomalies and credit card fraud. HDFC bank is one example.
HDFC Bank has developed an AI-based chatbot called EVA (Electronic Virtual Assistant), built by Senseforth AI Research, based in Bengaluru. Since launch, Eva has answered over 3 million customer inquiries, interacted with over half a million unique users, and held over a million conversations. Eva can gather information from thousands of sources and provide simple answers in less than 0.4 seconds.
Another use of AI for the banking industry, which has a much higher value for banks, is fraud detection. It can be difficult for humans to understand patterns, but machines are good at it. This is where AI for fraud prevention comes in.
By tracking card usage and terminal access, security specialists prevent fraud more effectively. Organizations rely on AI to follow these steps by analyzing transaction behaviors.
Many banks have already adopted AI-based system applications and others are already considering it.
3. AI Applications in Healthcare
When it comes to saving our lives, many organizations and healthcare centers rely on AI applications and implementations. There are many examples of how AI in healthcare has helped patients around the world.
An organization called Cambio Health Care has developed a stroke prevention clinical decision support system that can alert doctors when a patient is at risk of having a stroke.
The healthcare industry has been a major user of AI technology. It comes down to the power of artificial intelligence to quickly process numbers and learn historical data, which is essential in the healthcare industry.
AI has taken a fundamental step forward in helping people also in inpatient care. Automated robots and healthcare applications ensure adequate medication and treatment of patients in facilities. In some cases, AI applications are also known to provide operational assistance to physicians.
The biggest bets are in improving patient outcomes and reducing costs. Businesses apply machine learning to make diagnostics better and faster than humans. One of the most well-known health technologies is IBM Watson. Understands natural language and can answer questions asked. The system extracts patient data and other available data sources to form a hypothesis, which it then presents with a confidence score diagram. Other AI applications include the use of chatbots and online virtual health assistants to help patients and health care clients find medical information, schedule appointments, understand the process of billing and other administrative processes.
A range of artificial intelligence technologies are also used to predict, combat, and understand pandemics such as COVID-19.
• Administration: Artificial intelligence systems facilitate daily routine administrative tasks to minimize human error and maximize efficiency. Transcriptions of medical notes via NLP and helps structure patient information to make it easier for physicians to read.
• Telemedicine: For non-emergency situations, patients can contact a hospital’s artificial intelligence system to analyze their symptoms, enter their vital signs and assess whether they need medical attention. This reduces the workload of health professionals by bringing them only critical cases.
• Assisted diagnosis: thanks to computer vision and convolutional neural networks, artificial intelligence is now able to read MRI scans to look for tumors and other malignant tumors, at an exponentially faster rate than radiologists, with a much lower margin of error.
• Robotic surgery: Robotic surgeries have a very tiny iron edge and can perform surgeries around the clock without getting tired. Because they work with such a high degree of precision, they are less invasive than traditional methods, potentially reducing the time patients spend in the hospital.
• Vital statistics monitoring: a person’s health status is a continuous process, depending on the different levels of their respective vital statistics. With wearables now becoming popular in the mass market, this data is not available on the tap, it just waits to be analyzed to provide useful insights. Since vital signs have the potential to predict fluctuations in health before the patient even realizes it, there are many vital applications here.
4. AI Applications in Education
AI application in the education world can automate assessment, giving educators more time. It allows students to be assessed and adapted to their needs, helping them to work at their own pace.
Here are some of the AI applications in education.
- AI based administrative tasks
Teachers spend a lot of time on administrative tasks such as assessment and evaluation of worksheets.
The use of AI in education can help automate the assessment and assessment of activities such as multiple-choice questions, filling in blanks, etc.
Another tedious and cumbersome activity for teachers is the preparation of student reports. The use of artificial intelligence in education can also help automate this.
Automation of administrative tasks allows teachers to spend more time with students, making the learning process more efficient.
- Personalized learning
The purpose of applying AI in education is not to replace teachers, but to help them understand the potential and limitations of each student.
Using AI in schools makes things easy and convenient for teachers and students.
Understanding the needs of each student, teachers can develop a tailor-made program for each student.
- Constructive Feedback
AI-based programs can provide valuable feedback, both to students and teachers.
Using AI in classrooms can show teachers how to improve the way students are taught and how to make learning more fun and interesting.
Instant feedback to students helps them understand where they are going wrong and how they can best do it.
- Accessible to all
The use of AI in classrooms makes learning accessible to all students.
Whether a student learns slowly or is unable to attend school due to illness or injury, and even students in remote areas, AI in education is a blessing for them. The use of artificial intelligence in education overcomes geographic barriers in learning. Students located all over the world can learn from the best teachers using artificial intelligence in education.
The use of artificial intelligence, AI in education has not yet been fully adopted by all schools. However, in the future, artificial intelligence and education will go hand in hand.
5. AI Applications in Social Media
Social media is has established itself as a core thing for the current generation. An immeasurable amount of data through chats, tweets, posts, etc. is generated every single minute. And wherever there are plenty of data, AI application is involved. The most common use being facial verification.
Artificial intelligence in social media can be associated with big data and machine learning, where deep learning is used to obtain every detail of an image using a series of networks of deep neurons. To recognize images AI-based image recognition software and tools are brought in place.
AI-powered chatbots are used to answer customers’ queries in no time. It can efficiently conduct conversations with the consumers and provide them with the required answers by understanding the intent of a query.
AI application can help brands to identify sentiments to know how they feel. For this, AI uses natural language processing or NLP.
AI applications can help social media platforms protect user data and increase the privacy of their information. By authentication, pattern detection, fraud prevention, and other features, this technology can help users improve the security of their social media accounts.
Thus, the incredible benefits that artificial intelligence offers to social media platforms show that the technology is here to stay. Considering the growing number of social media users, it wouldn’t be strange to think of it as the biggest market of the future. The technology will help social media companies deliver a better customer experience and help marketers target the right customers, which will increase conversion rate and return on investment.
AI has a bright future in this industry as it improves user experience and helps brands serve them better. AI also plays an important role in social media marketing by enabling brands to measure business performance and identify users who can be converted into leads.
6. AI Applications in Gaming
In recent times, AI has become an integral part of the gaming industry. One of the biggest achievements of AI can be very well seen in the gaming industry.
The AlphaGo software based on the AI of DeepMind, famous for defeating the world champion of the game GO Lee Sedol, is one of the most important achievements of artificial intelligence.
Shortly after the victory, DeepMind created an advanced version of AlphaGo called AlphaGo Zero which defeated its predecessor in an AIAI showdown. Unlike the original AlphaGo, which DeepMind formed over time using a large amount of data and supervision, the advanced system, AlphaGo Zero has learned to master the game on its own.
F.E.A.R, which is a first-person shooter video game is flourishing on AI applications only.
Actions taken by AI are unpredictable as the game is designed so that opponents are trained throughout the game and never repeat the same mistakes. Their ability to perform in the game improves as the game becomes more difficult. This makes the games very difficult and causes players to constantly change strategy and never use the same tactics again.
The world of games is the best example of AI applications as it is on this platform where there are purposes attained. AI is used to design the game, develop the characters, and even frame the story to some extent.
7. AI Applications in Transportation
Transportation is an area where AI application has led to significant innovations. Autonomous vehicles (cars, trucks, buses, and drone delivery systems) use advanced technological capabilities and artificial intelligence. These AI applications include automated vehicle driving and braking, lane change systems, the use of cameras and sensors to avoid collisions, the use of AI to analyze real-time information, and high-performance computing and deep learning systems to adapt to new circumstances with detailed information.
Light and distance detection (LIDAR) and AI systems use 360-degree images from radar and light beams to measure the speed and distance of surrounding objects. Artificial intelligence enables cars to learn from the experience of other vehicles on the road and to adapt their driving systems to changing weather, driving, or road conditions.
All major ridesharing companies are exploring driverless cars with the implementation of AI.
With automation and AI entering the scene, machines are getting redesigned to potentially perform critical tasks and make decisions on their own. AI in transportation has proved its role in the industry by increasing passenger safety, reducing congestion and accidents, reducing carbon emissions, and minimizing overall financial expenses.
Realizing this unique potential of artificial intelligence, companies in the transportation sector are making significant investments to improve revenue generation and keep pace with their competitors.
8. AI Applications in Criminal Investigation
Artificial intelligence is used in criminal justice. Forensic experts say artificial intelligence programs reduce human bias in law enforcement and lead to a fairer sentencing system. New technologies allow images and voices to be combined with other types of information and use artificial intelligence on these combined datasets to improve law enforcement and national security.
Through the “Sharp Eyes” program under AI application, law enforcement agencies combine video, social media activity, online shopping, travel documents, and personal identity in a “police cloud”. allows authorities to track criminals, augmented and virtual reality techniques can be used to create efficient, realistic, and dynamic simulations for training purposes. Reinforcement techniques improve combat training for virtual agents and human soldiers.
Artificial intelligence with geospatial analysis can help extract valuable information from connected equipment such as radars and automatic identification systems. This information can make it possible to detect any illegal or suspicious activity and to alert the competent authority. Robots with artificial intelligence and machine vision with IoT can also help identify and rank goals.
New Age weapons now incorporate AI technology. For example, sophisticated missiles can determine and analyze the range of targets for destruction zones without any human intervention.
In defense, cyberspace is now considered the third war front after land, sea, and air. A compromised and malicious network can seriously compromise the security of the entire region. Défense institutions use AI to predict and protect against unauthorized intrusion. One of the most important factors determining the success of a military operation is logistics. Integrating AI and geospatial analysis with military logistics lessens the effort, time, and errors.
9. AI Applications in Space Exploration
Expeditions and space discoveries always require the analysis of large amounts of data. Artificial intelligence applications are the best way to manage and process data at this scale.
For example, after rigorous research, astronomers used artificial intelligence to sift through years of data obtained from the Kepler Telescope to identify a solar system eight planets distant.
Recently, when assembling spacecraft, companies began to use systems based on artificial intelligence algorithms to minimize contact with people. In addition to eliminating the likelihood of biological contamination, the use of artificial intelligence can dramatically speed up manufacturing processes. In addition, AI systems regularly assess the performance of operations, the results of which are used to optimize many processes. The elimination of the human factor is equally important to increase the productivity of production. Collaborative robots or “cobots” used on assembly lines perform the longest and most error-prone operations.
Our desire to explore further the last frontier seems to be growing and in this AI applications play a pivotal role.
Although all AI technologies require training data sets, machines cannot learn from raw data in its original form. Therefore, raw data sets must be prepared with various data annotation methods. Companies that develop AI systems outsource this work to tertiary service providers and annotators.
10. AI Applications in Marketing
Accurate predictive technology based on customer reactions is the main element in marketing. AI applications and machine learning systems browse millions of recordings to suggest shows and movies one might like based on previous actions and movie choices. As the dataset grows, this technology gets smarter with every passing day.
With the increasing advancement of artificial intelligence, soon, it may be possible for consumers on the web to purchase products by taking a photo. Companies like CamFind and their competitors are already experimenting with it.
Marketing is a way to sweeten your products to attract more customers. We, humans, are pretty good at coating sugar, but what if an algorithm or robot exists purely for the purpose of marketing a brand or a business? It would do a really good job!
When we search for an item in any eCommerce store, we get all the possible results related to the item. In seconds, we get a list of all the relevant items. One example is finding the right movies on Netflix.
One of the greatest examples of artificial intelligence applications, marketing, has been a key area of improvement and the latest trends in artificial intelligence. The early 2000s were not great in terms of implementing AI in online marketing.
Yes, e-commerce existed, but the research was not great. It was hard to find something in a store if you didn’t know the exact name. It is thanks to the improvement of artificial intelligence that intelligent suggestions are now much more effective.
By eliminating a load of monotonous and mundane activities, the implementation of AI in the marketing industry has increased the domain’s productivity by several notches.
Artificial intelligence (AI) applications are also popular in marketing.
• Using artificial intelligence, marketers can deliver highly targeted and personalized advertising using behavioral analytics, pattern recognition, and more.
• AI can help with content marketing in a way that matches the style and voice of the brand. It can be used to manage routine tasks such as performance, campaign reports, and more.
• Chatbots based on artificial intelligence, natural language processing, natural language generation, and natural language understanding can analyze the user’s language and react as humans do.
• Artificial intelligence can offer users real-time personalization based on their behavior and can be used to modify and optimize marketing campaigns to meet the needs of a local market.
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History of AI
• 1956, the term artificial intelligence was coined at the “Dartmouth Summer Research Project on Artificial Intelligence” led by John McCarthy
• 1959 McCarthy and Minsky founded the MIT AI Project
• 1963 McCarthy starts the AI Lab at Stanford
• 2008 Google makes breakthroughs in speech recognition
• 2011, Apple releases Siri, an AI-powered virtual assistant
• 2014, Google makes the first self-driving car
• 2014, Amazon’s Alexa is released
• 2016, the first “robot citizen”, a humanoid robot- Sophia is created by Hanson Robotics
• 2020, Baidu releases its LinearFold AI algorithm to scientific and medical teams working to develop a vaccine during the early stages of the SARS-CoV-2 pandemic
This early work paved the way for the automation and formal reasoning that we see in computers today, including decision support systems and smart search systems that can be designed to complement and augment human abilities.
Types of AI
AI can be categorized into Type 1 and Type 2. Based on their functionalities, these Ais are discussed below:
Type 1 AI
- Artificial Narrow Intelligence
This is the most common form of artificial intelligence that you can find on the market today. These AI systems are designed to solve a single problem and could very well perform a single task. They have limited capabilities, such as recommending a product to an e-commerce user or forecasting the weather. It is the only type of artificial intelligence that exists today.
They can approach human functioning in very specific contexts and even surpass them, but excel in highly controlled environments with a limited set of parameters.
2. Artificial General Intelligence
AGI is still a theoretical concept. This would include decision making, rational decision making and includes things like making art and building emotional relationships.
3. Artificial Super Intelligence
Super Artificial Intelligence (ASI) is hypothetical AI, meaning we couldn’t reach it, but we know what will happen if we reach it. So basically, it is the fictional AI that not only interprets or understands human behavior and intelligence.
But the ASI is where machines will become sufficiently conscious or self-regulated to exceed the capacity for human intelligence and behavioral skills. With Superintelligence, machines can think of possible abstractions or interpretations that humans simply cannot think of.
Type 2 AI
- Strong AI
Wider range with varied scope. Incredible in terms of human-like intelligence. This AI uses clustering for data processing. Advanced robotics is a strong AI.
2. Weak AI
Narrow application area with limited scope. This is good for specific mentioned tasks. This uses both unsupervised and supervised learnings to process data. Siri and Alexa are weak AI.
Task Domains of AI
- Formal Tasks– Logic, Mathematics, Geometry, Integration
- Mundane Tasks– Computer vision, Speech, Voice, Language generation and translation
- Expert Tasks– Engineering, Fault detection, Manufacturing, Monitoring, Scientific analysis, financial analysis, medical diagnosis
Why AI matters?
AI has always been a matter of anticipation with various aspects. With the potential to transform businesses as well as technology, AI is a critical source.
AI has long been regarded as a potential source of business innovation. With the enablers now in place, organizations are starting to see how AI can multiply value for them. AI helps businesses adapt at speed, with a regular stream of insights to drive innovation and competitive advantage in a world of constant disruption. When scaled, AI can become a key enabler of your strategic priorities and even a lynchpin to survival. Three out of four C-suite executives believe that if they don’t scale artificial intelligence in the next five years, they risk going out of business entirely. Clearly, the stakes are high to scale AI.
No introduction to artificial intelligence would be complete without addressing the ethics of artificial intelligence. AI is evolving and like any powerful technology, organizations need to build public trust and be accountable to their customers and employees.
Any business that uses artificial intelligence comes under scrutiny. Ethical theatre, where companies amplify their responsible use of artificial intelligence through public relations while engaging in unspoken grey area activities, is a regular issue. Yet another is unconscious bias. Responsible AI is an emerging capability for the purpose of building trust between organizations and their employees and customers.
Data privacy and unauthorized use of AI can damage both reputation and the system.
Benefits of AI
End-to-end efficiency: Artificial intelligence eliminates friction and improves analysis and use of resources throughout the organization, resulting in significant cost reductions. It can also automate complex processes and minimize downtime by anticipating maintenance needs.
Improved decision making: Artificial intelligence augments human intelligence with advanced model analysis and prediction capabilities to improve the quality, efficiency and creativity of employee decisions.
Smart offers: Because machines think differently from humans, they can discover market gaps and opportunities faster, helping you introduce new products, services, channels, and business models with a level of speed and quality that was not possible before.
Empowered Employees: AI can tackle mundane tasks while employees devote time to more satisfying, high-value activities. By fundamentally changing the way work is done and strengthening the role of people in driving growth, artificial intelligence is expected to increase labor productivity. The use of artificial intelligence can also unlock the incredible potential of talent with disabilities while helping all workers to thrive.
Customer Service: Continuous machine learning delivers a constant flow of 360-degree customer information for hyper-personalization. Chatbots are used to organize real-time information and deliver tactile experiences that drive growth, retention, and overall satisfaction.
Future with AI
Artificial intelligence has been the main driver of emerging technologies such as big data, robotics, and IoT and will continue to act as a technology innovator for the foreseeable future. The future will harness the hidden capabilities of AI and encourage the creation of self-taught robots.
Reinforcement learning and training algorithms based on contradictory generative networks will be explored. AI will also prove to be a flagship of sustainable technologies and will be used to tackle pollution levels linked to climate change and encourage research on green AI.
Artificial intelligence is very prevalent in the lives of human beings. The outbreak of the 21st century has led to the development of artificial intelligence which has further expanded the use of technology in many industries. By making machines work exactly as human intelligence does, artificial intelligence has trained computers to imitate human behavior. Ultimately, this technology will attempt to map the neural networks that will operate machines such as the human brain. AI has many applications that make it useful for humans in everyday life.
AI has been the innovation that enables companies to deliver personalized user experiences on applications and software. The ability of an AI-based application to analyze different data models and deliver effective solutions to users makes it more appealing to any business. These data models can range from buying behavior to credit scores and even user preferences. With modern smartphones becoming more powerful than ever, the development of AI-powered mobile applications is gaining momentum.
While many researchers have warned humanity against artificial intelligence, the future of artificial intelligence is very important for the development of technology.
Frequently Asked Questions
John McCarthy is called the father of AI.
From Google to Siri, everything makes use of AI and its applications.
AI is used across industries like retail, security, E-commerce, automotive, analytics, healthcare, manufacturing, and pollution control.
Gaming, voice recognition, search engines, fraud protection are few names from an extensive list of areas of AI applications.
Fast decisions, error-free, available, and accessible 24*7, and digital assistance.
AI has emerged as one of the most impactful technological advancements applicable in most industries. AI is the future as more and more skilled professionals are in demand to manage the various industrial applications of AI.
Artificial intelligence has many social benefits in various industries. In education, artificial intelligence can be used to provide education tailored to the needs of each child and also allow better access to education. It can help blind people improve their experience of the world around them. And artificial intelligence can help provide remote areas with access to healthcare by performing diagnostic work that doesn’t require a specialist on-site. It has also been used to analyze huge amounts of data and detect possible illegal activity; monitor large fish populations in Philippine coral reefs to aid restoration efforts, and providing companionship and care for the elderly.
While AI can do a lot of things, it currently cannot act and think exactly like humans. General AI is like what you see in sci-fi movies, where sentient machines mimic human intelligence, thinking strategically, abstractly, and creatively, with the ability to handle a range of complex tasks. While machines can perform some tasks better than humans, this fully realized view of general AI still doesn’t exist outside of the big screen.
Artificial intelligence is used in a wide range of applications in everyday life. Artificial intelligence technologies are the basis of voice-activated digital assistants, product recommendations, maps and driving directions, mobile check deposits, and more.