AI, a new buzzword and cornerstone for introducing innovative initiatives, businesses are eager to leverage the potential as a result increasing applications of artificial intelligence.
Generally, every business entity prioritizes drivers contributing higher value to the business outcomes for optimizing operations and sustaining competition. For instance, the challenging task for the manufacturing sector is to retain skilled talent while minimizing the workforce shortage. In such cases, improving workplace productivity emerges at the top of the priority list. Similarly, across the healthcare sector, organizations take up the quality of service to ensure patient satisfaction as an essential business task. To address such critical business operations, organizations are increasing applications of Artificial Intelligence technologies into their business process to increase business outcomes. Now, let’s see the applications of artificial intelligence across different industries.
Defence and Aerospace:
Due to the governance of stringent safety measures for operating aircraft, space systems, and drones, maintaining quality while ensuring higher performance is a priority in the defense and aerospace sectors. As a result, to ensure safety and quality during the manufacturing and development of the product, manufacturers employ AI tools or technologies to simulate and analyze the final product beforehand. AI has vast abilities, particularly in ingesting vast amounts of data that, including images, help make mission-critical decisions while producing autonomous systems like drones.
The competition within the automotive sector lies in manufacturers designing, creating, and introducing new vehicles into the market while increasing overall production volume. To achieve such milestones, manufacturers employ AI tools to predict patterns accurately in the industrial systems and optimize manufacturing processes across the operational data. By anticipating and optimizing those functions, manufacturers in the automotive industry can enhance the quality of the product by improving overall equipment effectiveness. Also, the R&D functions are taking center stage across the automotive industry due to the requirement to process enormous amounts of data volume. Against this backdrop, the AI tools adoption across the automotive sector will increase enormously.
Instructors in the educational field rely on AI tools for various purposes, such as developing learning models, researching, and acquiring knowledge on emerging topics like data science. College administrators also employ AI tools to select and onboard students and faculty to analyze their experiences, skills, and qualifications. Many universities fund accelerators to encourage them to develop AI tools and conduct R&D activities.
Energy:
The energy sector, comprising oil and gas companies, is another example for applications of artificial intelligence as it employs AI tools to improve product quality and worker efficiency and increase workers’ productivity. AI is used in process optimization and predictive maintenance to attain these outcomes. Moreover, with AI able to achieve sustainable efforts positively, many companies operating in the energy sector are employing AI tools to achieve their sustainability goals.
Financial Services
Companies operating in the financial sector are increasingly adopting AI into their process to ensure data security. In addition to financial forecasting and payment processing, Artificial intelligence is helping these companies detect and prevent fraud. With many advantages AI offers, the adoption rates of this technology are high among these companies. Pattern recognition is another distinguishing feature of AI, so financial companies use AI to detect fraudulent accounts and identify the genuity of payment transactions.
Government:
Regulatory bodies are pursuing local and national governments to adopt Artificial intelligence tools into their process. Either to obtain optimization during road traffic management to mitigate congestion or to support predictive maintenance to predict downtime of essential assets like infrastructure precisely.
Life Sciences
Across pharmaceutical companies, maximization of manufacturing capacity takes priority to fulfill market demand. Under such circumstances, AI comes in handy to support those activities. Additionally, AI also assists pharmaceutical companies in speeding up the fulfillment of the compliance processes and, most importantly, the R&D functions of drug development. AI also helps the emergence of newer technologies, such as bio-imaging, a non-invasive technique that helps identify specific diseases and associated complications. The advantage of AI in the medical field is that it can take huge volumes of patient data and helps in predicting and diagnosing if there are any health ailments.
Media & Entertainment
In the media and entertainment industry, personalized content creation takes higher priority in addition to extracting customer data patterns, algorithmic curation, and others. All these offerings from AI are helping media companies to differentiate their products and services while improving consumer experiences.