AI Applications: Best Applications Of Artificial Intelligence In The Real World
The world is moving towards automation. No. That's Not accurate. We have already began to train systems to think on their own. We live in the age of Artificial Intelligence. If we use this technology in a feasible and careful manner, then AI will have the power to make the world a better place. In this article, we will dive into top AI applications, we will look into top 10 Artificial Intelligence applications and their impact on the world. You would be able to enter this field with top Artificial Intelligence Courses and Certifications. AI applications have immense use in almost all industries banking, marketing, finance, commerce, etc. to name a few. So let’s take a look at top Artificial Intelligence applications.
Artificial Intelligence Applications: Marketing
One of the best applications of artificial intelligence in the real world is in marketing. This industry is about showcasing products/ services in the best light possible in order to attract more clients. While a human touch is unique for bringing out awesome marketing strategies, there are top AI marketing applications that can do just the same or sometimes even better!. With great algorithms, these AI applications can find out about the latest market trends, consumer behavior and then create marketing campaigns that are tailored to hit target.
Consider the old days (back in the early 2000s) when it was a nightmare to find a product without having knowledge of its full name. If we searched an online store without knowing its exact name, it was the same issue. However, now when we search for an item on any e-commerce site, we get all of the available results. It's as if these search engines can read our thoughts! We acquire a list of all relevant objects in a matter of seconds. An example of this is finding the right movies on Netflix.
Netflix provides incredibly accurate prediction technology based on user reactions to films, which is one of the reasons why we're all fascinated with Netflix and chill. It scans millions of records to recommend shows and flicks based on your previous behaviors and cinema preferences. This system is becoming increasingly intelligent as the data collection develops. With the progress of artificial intelligence applications in the real world, users on the internet may soon be able to buy things simply by taking a picture of them. CamFind and their competitors are already experimenting with this.
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Artificial Intelligence Applications: Banking
One of the latest artificial intelligence applications is in banking. Many banks have already begun to use AI-based systems to offer customer service, detect anomalies, and prevent credit card fraud. HDFC Bank is an example of this.
EVA (Electronic Virtual Assistant) is an AI-based chatbot developed by Bengaluru-based Senseforth AI Research for HDFC Bank.
Eva has handled over 3 million customer requests, engaged with over half a million active visitors, and had over a million discussions since its introduction. Eva can gather information from thousands of sources in under 0.4 seconds and deliver straightforward replies.
AI applications are being used to improve security in a variety of industries, including retail and banking. Security experts can more effectively prevent fraud by tracing endpoint access and card usage. AI is used by businesses to track those steps by studying transaction behavior.
For years, companies like MasterCard and RBS WorldPay have relied on artificial intelligence and deep learning to detect fraudulent transaction patterns and avoid card fraud. Millions of dollars have been saved as a result of this.
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Artificial Intelligence Applications: Finance
Another one of the latest artificial intelligence applications is in finance. To predict future market patterns, ventures have relied on computers and data scientists. Trading is primarily based on the capacity to effectively foresee the future.
Machines excel at this since they can process a large volume of data in a short period of time. Machines can also learn to identify patterns in historical data and forecast how they will reoccur in the future.
Financial institutions are looking to artificial intelligence (AI) to enhance their stock trading performance and increase profits in the age of ultra-high-frequency trading.
One such company is Nomura Securities, Japan's largest brokerage firm. The firm has been working toward a single goal, which is to use computers to analyze the insights of experienced stock traders. Nomura is planning to launch a new stock trading system after years of research.
In its computer, the new system saves a huge amount of cost and trading data. It will make assessments by tapping into this reservoir of data, such as determining that current market conditions are similar to those two weeks ago and forecasting how share prices will change in a few minutes. This will make it easier to make better trading decisions based on market forecasts.
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Artificial Intelligence Applications: Agriculture
Here's a scary statistic: by 2050, the globe will need to produce 50% more food since we're eating everything! Only by carefully managing our resources will we be able to achieve this. As a result, AI can assist farmers in extracting greater value from their land while conserving resources. Climate change, food security and population growth concerns have led the sector to seek out new and novel ways to boost crop productivity. Automation and robots are being used by organizations to assist farmers in finding more effective ways to safeguard their harvests from weeds.
Agriculture has benefited from AI applications in real life. Here is one example. Blue River Technology has created a robot called See & Spray that monitors and sprays weedicide on cotton plants using computer vision technology such as object detection. Herbicide resistance can be avoided with careful spraying.
Apart from that, PEAT, a Berlin-based agricultural tech start-up, has developed an app called Plantix that uses photos to identify probable flaws and nutrient deficits in soil. Through photos obtained by the user's smartphone camera, the image recognition programme finds possible flaws. Following that, users are given soil restoration procedures, advice, and other options. According to the business, their programme can recognise patterns with up to 95% accuracy.
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Artificial Intelligence Applications: Health Care
Health care is one of the best AI applications in real life. Many businesses and medical care institutions are turning to artificial intelligence (AI) to save our lives. There are numerous examples of how AI applications in healthcare have benefited patients around the world.
Cambio HealthCare created a clinical decision support system for stroke prevention that can alert doctors when a patient is at risk of suffering a heart attack. Another example is Coala Life, a business that has developed a digitalized gadget for detecting cardiac problems.
Similarly, Aifloo is working on a system to track how people are doing in home care, nursing homes, etc. The best part about AI applications in healthcare is that it eliminates the need for fresh drug development. You can save lives simply by using an existing drug correctly.
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Artificial Intelligence Applications: Gaming
Artificial Intelligence has been an important aspect of the game business in recent years. In fact, one of AI's most significant achievements is in the gaming business.
One of the most significant achievements in the field of AI is DeepMind's Artificial Intelligence AlphaGo software, which is famous for beating Lee Sedol, the world champion in the sport of GO.
Shortly after the triumph, DeepMind released AlphaGo Zero, an upgraded version of AlphaGo that vanquished its predecessor in an AI-AI battle. The improved system, AlphaGo Zero, taught itself to master the game, but unlike the original AlphaGo, which DeepMind learned over years using a significant quantity of data and supervision.
The first-person shooter video game First Encounter Assault Recon, sometimes known as F.E.A.R, is another example of Artificial Intelligence in gaming.
Because the game is created in such a manner that the competitors are taught throughout the match and never make the same mistakes, the actions done by the AI opponents are surprising. As the game progresses, they improve. This makes the game extremely difficult, forcing players to swap strategy frequently and never sit in the same spot.
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Artificial Intelligence Applications: Space Exploration
Experiments and discoveries in space necessitate the analysis of massive amounts of data. ML & AI are the most effective methods for handling and processing large amounts of data. Astronomers utilized AI to filter through years of data acquired by the Kepler telescope to locate a distant eight-planet solar system after extensive analysis.
The Mars 2020 Rover, NASA's next rover mission to Mars, will also incorporate artificial intelligence. The AEGIS Mars rover, which is powered by artificial intelligence, is already on the red planet. The rover is in charge of autonomous camera targeting in order to conduct research on Mars.
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Artificial Intelligence Applications: Self-driving vehicles
Self-driving cars have been a catchphrase in the AI business for a long time. The development of self-driving vehicles will undoubtedly transform the transportation sector.
Before launching their first Artificial Intelligence public ride-hailing service, companies like Waymo did multiple test rides in Phoenix. To operate the car, the AI system gathers data from the vehicle's radar, cameras, GPS, and cloud solutions to generate control signals.
Advanced Deep Learning systems can predict what objects in the area of the car will do. This improves the effectiveness and safety of Waymo's autonomous vehicles.
Tesla's self-driving car is yet another well-known autonomous vehicle. Computer vision, image detection, and deep learning are used in artificial intelligence to create cars that can recognise objects autonomously and drive around without the need for human interaction.
Tesla's self-driving cars and autopilot functions involve a lot of AI, according to Elon Musk. "Tesla will have completely self-driving cars available by the end of the year, and a "robotaxi" version – one that can transport passengers without a driver – ready for the streets next year," he said. This is another one of the best applications of artificial intelligence in the real world. Because such technology is no longer in the distant future. It is already here/
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Artificial Intelligence Applications: Chatbots
Virtual assistants have become a pretty prevalent technology in recent years. Almost every home has a virtual assistant that manages the household equipment. Siri and Cortana, for example, are gaining popularity as a result of the user experience they deliver.
Example: You can use Amazon's Echo to interpret human words into desired actions. This device employs speech recognition and natural language processing to carry out a variety of operations in your direction. It's capable of much more than just playing your favorite music. It may be used for activities such as controlling your home's electronics, ordering your favorite meals, checking the weather, book cabs, making phone calls, etc.
Another example is Google's Google Duplex virtual assistant, which has wowed millions of people. It can not only answer your calls and schedule appointments for you, but it also has a human touch.
The device processes human language using machine learning and natural language processing algorithms to accomplish activities like managing your schedule, controlling your smart home, making a reservation, and so on.
Artificial Intelligence Applications: Social Media
Coming to applications of artificial intelligence in the real world, here is another one. We've been generating an incalculable quantity of data via conversations, tweets, postings, and other forms of social media since it became our identity. AI and ML applications are always present anywhere there is a large amount of data.
Face verification is a tool on social media sites such as Facebook that uses AI to recognise facial traits and tag your friends using deep learning and machine learning techniques. Using a collection of deep neural networks, deep learning is utilized to extract every last feature from an image. Machine learning techniques, on the other hand, are employed to create a feed that is tailored to your preferences.
Another example of AI applications is Twitter. It can detect spam and hate speech in tweets. To filter out offensive content, it employs applications of Natural Language Processing, Machine Learning and Deep Learning. The business detected and blocked 300,000 terrorist-linked accounts, with non-human, artificially intelligent machines finding 95 percent of them.
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Conclusion
According to a report published by the McKinsey Global Institute, improvements in AI will have a significant impact on people's daily life at work. At least 800 million jobs could be lost worldwide by 2030 due to automation. Around 40-70 million jobs in the United States alone might be automated.But the good news is that, like with any era, with the disappearance of certain jobs, new jobs will also emerge. We have to be ready to take those careers.
So we hope our article has given you some idea on some of the top read world Artificial Intelligence applications. So gain the knowledge and skill and take after these AI Applications. All the best!
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Frequently Asked Questions (FAQs)
Machine Learning Engineer, AI Developer, Software Developer, Software Engineer, etc. are some top careers in AI applications.
Marketing, E-commerce, Banking, Education, etc. are some top industries that can benefit from AI applications.
There is an immense need for artificial intelligence applications in daily life. So almost all industries push towards automation to enhance their productivity. AI applications can enhance development of goods, better functioning of services.
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