The term Artificial Intelligence (AI) has been around for quite sometimes and its definition has varied from time to time. Usually, artificial intelligence is defined as a replication of the human mind which gives the computers and machines the ability to see, learn, and act based on the information that is available to it. Today AI is a buzzword that defines the new tech available in the market these days, we can say that AI has taken over the world but it is not how we thought it would be (referring to every movie in which machines take over).
With the advancements achieved in AI, we can find it on most of the devices we use these days for example your smartphones have a built-in AI which we know as our voice assistant whether it be Google Assistant, Apple’s Siri, or Amazon’s Alexa. These voice assistants help us with our daily tasks much better, they use Machine Learning technology to learn about things and give out better responses over time. All of this is a sub-category of AI because AI can be considered as an umbrella term that is further divided into sub-categories like Machine Learning (ML), Deep Learning (DL), Computer Vision (CV) and Natural Language Processing (NLP) among others.
AI Use Cases in 2020
So with this basic knowledge, let us dive into the best possible use cases for Artificial Intelligence in 2020.
Self Driving Cars
The term self-driving cars have been around for quite some time, but now more than has it become a reality with the help of much improved AI. Self-driving cars are the perfect example and use case scenario for integrating AI with real-world applications, AI helps the car to navigate with the use of technology like CV and ML. Tesla vehicles are the best examples of self-driving cars available in the market right now.
The entertainment industry can and has benefited from the use of AI, different streaming services employ the use of AI to recommend content to their viewers, Netflix and Pandora, and the best examples of such technology. They use a learning algorithm that notes what you are watching or listening to. Based on that information provide its users with content they would very much like and they would’ve missed if it was not recommended to them.
Large scale manufacturing industries have been transformed with the use of AI, yes a large number of people have lost their jobs to industry automation but the work has gotten very efficient over time. Nearly every plant these days use some kind of machine to do certain tasks which were previously done by humans. It is estimated that most of the labor-intensive work will be done in the near future with the help of machines and AI.
One moment you are searching for an online jeans store and then you switch over to Facebook or Instagram and see an ad from the same store, which is Google Ad Sense in work. It is an advertisement tech that works on the same principles as Netflix if you can say. Online marketers collect information based on your browsing history or your cookies and present advertisements based on it. Since targeting specific audiences online is much easier companies have invested their resources in it. AI is the backbone of the online advertisement industry.
Fintech is based on AI, whether it be fraud detection, insurance claims credit scoring almost everything is being carried out with the help of AI. ML can be used to gather information about different accounts and then used to generate bills and other things. AI can be used in stock market prediction and using it as an advisory service for customers of a certain company.
The health care industry has also benefited from the use of AI in the past and with the improvements in technologies new possibilities have opened up. AI is used to prescribe medicine based on the patient’s history with the use of ML, along with cancer prediction using medical imagery through CV and healthcare marketing. There is room for improvement as new technology is being developed nearly every day.
These were some of the best available use case scenarios options for artificial intelligence in the market these days but the list isn’t completed as there are many other options like analytics, customer care services, etc. are available. Maybe the best use case for artificial intelligence has not even been discovered yet, maybe it needs more improvement but whatever the case we can say that artificial intelligence is here to stay for good.