Top 10 Practical Use Cases Of AI And Machine Learning
Microsoft has been making advancements in artificial intelligence and even machine learning, a field of software that tries to replicate human intelligence. Microsoft is planning to spend $10 billion on viral text generator ChatGPT as part of its mission to “Build AI Tools Into Every Microsoft Product.”
AI has come a long way since the days of the HAL 9000 from 2001: A Space Odyssey. Today, AI is used in everything from self-driving cars to virtual assistants that can answer your questions.
Here are 10 Practical Use Cases of AI
1. Improve Healthcare
Healthcare organizations are already using Artificial Intelligence and Machine Learning to improve patient care and reduce costs for healthcare providers.
AI can be used for automated diagnosis of diseases and treatment, which will help doctors better understand the patient’s condition and prescribe the best possible treatment plan for them.
In addition, AI can also be used for monitoring patients’ progress during treatment sessions so that doctors can provide better care at all times.
2. Assistive Technology
Assistive technology is a category of tools that help people with disabilities to perform everyday tasks, such as using a computer or communicating via email, text messaging, and social media.
Assistive technology can also assist with daily tasks and activities that require physical movement, such as walking, running, or climbing stairs.
For example, Dictation technology, also known as speech-to-text or voice recognition, can assist children who have learning disabilities or sensory impairments in writing and revising with the use of a pen or paper.
AI with the help of Natural Language Processing (NLP) and machine learning algorithms, highly enhances the accuracy of speech recognition and word predictability. This reduces dictation errors and promotes effective collaboration between students and teachers.
3. Predict Traffic Patterns
One of the most popular use cases for AI and machine learning is to predict traffic patterns. This can be useful for retail or e-commerce, where you need to know how many people will be coming into your store at a certain time of day to prepare for it.
It’s also useful for large companies that want to know when they will get many more customers during peak hours.
Reacting to predictive technology, Chipotle is on the spree for hiring more than 15K employees in preparation for the ‘burrito season’ as March to May is predicted to be its most busy time.
4. Marketing & Sales Automation
Another everyday use case for AI and machine learning is marketing automation, where you can use it to send out personalized messages based on past data from your data set.
For example, suppose someone has bought a product before. In that case, you could automatically email them about this new product that may be interesting for them or offer them discounts on other products they’ve purchased in the past.
This allows businesses to save money on marketing costs while still being able to reach out directly to their customers with personalized messages that are relevant to them at that moment in time.
5. Telecom Industry
The telecom industry is one of the most prominent industries that utilize artificial intelligence and machine learning. The telecom industry is susceptible to data privacy which is a growing concern for users.
Machine learning algorithms can enhance the security of customers’ personal data. AI can also be used in the educational sector to improve student performance.
In the manufacturing industry, AI can help reduce labor costs by automating mundane tasks such as quality control and inventory management.
6. Educational Sector
In education, AI can automate grading procedures and improve teachers’ productivity. It can also help teachers to identify students who need additional help.
It can also generate intelligent teaching plans for students based on their needs. In order to deliver appropriate support and instruction, artificial intelligence systems can assess a student’s learning style and preexisting knowledge.
7. Manufacturing Industry
The manufacturing industry is also using AI for automation purposes. For instance, robots are being used for repetitive tasks (such as assembly line operations) that humans cannot automate alone.
Also, advanced sensors are being used for autonomous navigation inside factory premises, on an offshore oil rig platform, or in production lines for mass production of goods made from raw materials such as plastic or metal components required for making automobiles and other vehicles, etc.
8. Banking & Finance
Banking & finance is one of the most critical sectors affected by Artificial Intelligence and Machine Learning, which can be used in various ways. AI can be used to identify fraud and then prevent it from happening by using predictive analytics. The technology will also help banks automate their workflows and provide faster decision-making.
The technology can also analyze financial data, predict future trends, make personalized customer recommendations, etc.
9. Retail Industry
Retail is a huge market. It is the second-largest sector in the world, and it is growing at a rapid pace. The retail industry is also known to be one of the most competitive industries as they constantly update their product range, customer needs, and demands etc.
This makes it difficult for retailers to keep up with all these factors and remain relevant to their customers.
Artificial intelligence (AI) can help retail stores perform better by automating repetitive tasks, increasing efficiency, reducing cost and improving customer experience.
10. E-commerce Industry
The eCommerce industry has been revolutionizing for years with innovations such as personalized recommendations based on user data, AI-powered chatbots to assist customers with questions or feedback and smart home solutions that help consumers monitor their devices from anywhere.
This has led to great success for companies like Amazon, Alibaba and others who have gained significant market share in recent years due to these innovations.
However, as these companies continue to grow larger and larger, it becomes harder for them to stay ahead of people who are trying to compete with them using similar services or products.
The Bottom Line
Abaca System’s focus on Artificial Intelligence and its strong industry relationships uniquely positions them to create great change for their clients. Abaca Systems is one of the leading Artificial Intelligence Companies that offer you the full spectrum of artificial intelligence solutions. From augmented operations to collaborative intelligence, our team strives to deliver custom-built AI solutions.