How Artificial Intelligence is Advancing Different Domains?
Artificial intelligence is one of the most emerging fields in recent scenarios. This field aims to produce projects that can work like a human brain. Till now we can see many examples of such projects of artificial intelligence that is capable of learning, thinking and working like humans and brains of humans.
Looking at the use cases AI is solving nowadays we may think that it is a very new field but the word Artificial intelligence came in front of the world in 1956 by McCarthy at the Dartmouth conference. The effect of this can be seen in the 21st century where the world’s leading companies like Microsoft, Google, Facebook and Amazon are developing some of the states of the art projects like AdaNet, Dopamine, Alexa, Prophet, and OpenAI. These all AI projects are aiming to help humans with their daily life problems.
According to a survey by Grand View Research, the global market of artificial intelligence is having a value of USD 93.5 billion in 2021 and the projection says that it will expand by a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030. The continuous research in the field is advancing the working nature of every crucial domain of the industry. In this article, we are going to look at different domains where the use of artificial intelligence is emerging very rapidly. Let’s start with the first domain!
This domain in the industry can be considered one of the early adaptors of artificial intelligence. The reason for being so is the availability of a huge amount of data and a variety of tough use-cases and problems.
Looking at the history of banking and finance we can understand that this sector plays a crucial role in human development and requires a lot of effort to avoid fraud and failures. A well-trained computer can help very much in this avoiding. Various AI programs and projects are available in the market that ensures the security of the system while helping in making a huge profit.
Various banks are also there who are providing facilities from chatbots to personal investment advisors that work based on the interests of individuals. A Variety of recommendation systems are implemented to suggest the best services and [products for the customers. Digital payment channels are designed while implementing AI agents on it. These are some of the major applications of AI in the banking and finance sector.
Healthcare is one of the major domains where the impact of AI is huge. We can see artificial intelligence is applied to every kind of procedure whether it is a daily or small healthcare procedure or it is a high-level healthcare procedure where we need to be accurate. A very simple example of the implementation of artificial intelligence in health care is the fit band or an iWatch which mainly works by applying sensors in the body and collecting data through it. In the end, using the artificially intelligent agent, we get pieces of information about various things such as heart rate, water required, and steps that need to be taken in a data. Sometimes we can also get notified about the abnormal effects on the body.
The above was just a use case of AI in healthcare and the implementation of AI is not ended here because in recent years we can see how artificial intelligence is applied in the generation of medication for COVID-19. Every major pharmaceutical company are applying artificial intelligence for procedures like drug discovery, robotic surgeries, virtual nursing assistant and chatbots.
In recent scenarios, You have the power to tell people what you are doing right now using the social media channels like Facebook, Instagram, WhatsApp etc. These all channels use synthetic intelligence in the background and show us things which we may like or may want to know about. This is the power of artificial intelligence in social media.
However, we have had social media since 1971 when the first email was sent by Ray Tomlinson to himself “something like “QWERTYUIOP” written on it.
