7 Artificial Intelligence Examples In Different Industries
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The use of AI has increased by 270% since 2015, according to Gartner, and it has become a big part of digital transformation. AI, as well as machine learning (a subset of AI), is gaining momentum in the enterprise.
Here are 7 artificial intelligence examples across different industries.
1. Financial Services: Fraud Protection
Fraud is one of the biggest threats in the financial services industry, with millions of incidents every year. Thankfully, many companies in the sector are leveraging machine learning to diminish the number of unauthorized account breaches. Banks are setting up real-time behavioral profiles that can detect potential cases of fraud before they occur. IT teams have developed machine learning capabilities to spot outlier transactions and trigger potential fraud alerts. This technology provides peace of mind for financial institutions —and their customers.
2. Transportation: Map Our Better Travel Routes
The successful transportation of goods needs to be done efficiently. In trucking, challenges on the road, such as weather and traffic, could prohibit goods from reaching their destination in a timely manner. The longer a truck is on the road, the more resources it takes to cover the cost of shipping. In the past few years, AI has been used to help truckers find more efficient routes. The technology provides them with real-time data about which routes to avoid and which routes allow them to reach their destination quicker. AI could save the transportation industry a lot of money over many years.
3. Ecommerce: Recommendation Engines
As the ecommerce industry continues to grow, there are several technologies that can be attributed to its success, including AI. Personal recommendation engines are an AI-powered solution that allows ecommerce websites to target shoppers based on their previous buying patterns and behaviors. The technology can accurately recommend a product to a consumer who is likely to consider purchasing it. Algorithms can target the right customers on a specific third-party website at an optimal time. The result is that ecommerce businesses are able to efficiently increase sales.
4. Health Care: Robot-Assisted Surgeries
Health care is one of the industries with numerous artificial intelligence examples, especially with the rise of smart hospitals. One of the most prolific cases of this technology in action is with robot-assisted surgeries. In these scenarios, there is still a doctor conducting the surgery, but the technology is aiding in the process. This AI-enabled solution allows professionals to perform minimally invasive surgery with the help of robotic arms. Medical facilities are able to conduct the most complex and delicate procedures with small and precise incisions. This results in better outcomes for patients and hospitals.
5. Manufacturing: Improved Product Quality
AI already plays a significant role in manufacturing by improving supply chain communications, eliminating waste, and predicting machine failures on the assembly line before they occur. Product quality is also one of the leading reasons why manufacturers are using AI. Before the use of AI, manufacturers had to manually check products for accuracy, and there could still be some flaws. By using AI with high-resolution cameras, manufacturers are able to check products quicker and with more accuracy. This automated technology is more reliable and results in fewer production delays than a manual process.
6. Retail: Smart Shelves
Many artificial intelligence examples are coming to (or they are already being leveraged at) a retail store near you. One AI-based technology that is catching on in retail is smart shelving. These are electronically-connected shelves that automate the process of ensuring that there are enough products on display for consumers. When a particular item gets depleted, the AI-technology informs the employees to either restock the item or to inform the vendor to send more of those items to the store. This solution makes it easier for workers to restock shelves, and it improves customer satisfaction.
7. Education: AI Tutors
Educational facilities have warmed up to the use of AI technology. It is already being used in the classroom to assist with grading and to shape better lesson plans for students. One of the most critical artificial intelligence examples in education is with AI tutors. Traditionally, human tutors have been an important part of the education process, but there are areas of improvement that can be leveraged with AI. The technology can provide a personalized learning experience for students who need the most help. AI tutors can be used in person or online, and it can analyze testing in real-time to alter the educational experience while the student is learning. As this technology matures, more students will benefit from it.
Which examples of AI have you spotted in your sector? To learn more about current AI use cases and future scenarios, read our report on The Evolution of Artificial Intelligence.