Artificial Intelligence (AI) was once a pipe dream, but we now see how it has developed to become a massive growth enhancer for numerous industries because of its ability to streamline business operations, reduce expenses, and automate redundant tasks. Thanks to the modern world’s evolving technologies like IoT, cloud computing, and big data, many experts predict further market growth thanks to AI. Many researchers forecast that the AI sector will balloon to a $190 billion industry by 2025.
This assertion is not surprising because we now see AI around us through our home devices like automated locks, smart thermostats, dynamic health watches, intuitive TVs, and more. AI is also actively used to augment the work of humans in many industries like healthcare with robotic laparoscopic surgeries, manufacturing with automated bots in the production line, and more. Currently, 29% of companies have reported using AI for their operations, which is slated to dramatically increase because AI is noted for improving overall efficiency and productivity. Read on to see the ten most stunning uses of AI in our lives that we can anticipate seeing in five years:
1. Manufacturing
Currently, AI-powered robotics are now working along factory workers to perform a limited range of tasks in an assembly line. Progress with AI is expected to improve these capacities. Soon, these machines will have predictive and analytical sensors that will allow them to do more complex work. Unfortunately, the downside of this is that people will lose jobs. With indefatigable machines performing more accurate work with less mistakes and risks, remaining assembly-line workers will have to give up their positions.
2. Security
One of the most considerable risks we face in this tech-centric world is we are all still vulnerable to cyber attacks. It is estimated that companies will adopt security solutions that have been amplified with AI technology to continue to safeguard data and reinforce network security. Apart from installing VPN for all devices for enhanced privacy and security, we can count on AI to spot imminent attacks through constant monitoring, analyzing, verifying, and fetching of crucial security insights from data. With AI-powered tech solutions, both public and private IT infrastructures can efficiently ward off cyber criminals.
3. Automotive
Today, we’ve seen voice and gesture recognition systems implemented in some high-end cars. With the improvement of AI, we can expect to see these systems implemented by more affordable car companies. Thanks to studies in deep learning areas, massive amounts of data will be able to process different types of road conditions and situations. As a result, the prospect of self-driving, autonomous cars will soon be our ride in the future.
4. Healthcare
These days, healthcare is one of the primary industries that rely on AI with imaging that detects cancers and other systems that can do patient risk assessments. In five years, we can expect patient monitoring to continue to grow through wearable devices. Like today’s smartwatches that monitor steps and heart rate, the healthcare industry will rely on AI to track patients with chronic illnesses to give more personalized patient care and treatment.
5. Marketing
The field of AI is stronger than ever because of the speedy internet, robust connectivity, and gadgets with quicker computer processing. As a result, all kinds of companies are utilizing AI to enhance their marketing strategies and applications. Now, it is easy to spot trends and track consumer behavior because of AI. In the future, we can expect to see more profound changes, personalized materials, and customized recommendations with the aid of AI software for marketing. Some say, however, that this will make us more spoiled, dependent, and lazy. But we think this all boils down to the character of the individual!
6. Education
Textbooks are already digital, but with the help of AI, we can hope to see virtual tutors assisting learners. These AI instructors will be able to leverage facial analysis to assess the emotions of students. These smart machines can help determine who is struggling and who understood the lesson. Implementing AI in education means crafting a better experience that can accommodate individual learning needs. Additionally, soon, we can rely on the real-time translation of suitable materials in foreign languages with a flick of a button.
7. Mass Media
The area of journalism has begun harnessing the power of AI. Because every one of us can see the success of Cyborg used by Bloomberg in making quick financial reports, other media companies will follow suit. Field reporters will no longer be sent to dangerous scenarios, and we can count on robots to do reliable reporting for the world.
8. Customer Service
We thought today’s chatbots, interactive product recs, and prediction of our demands are already advanced. However, you may be impressed that Google is working on an AI assistant that could make human-like phone calls to make appointments on our behalf to the neighborhood mechanic we searched for. This is expected to happen soon, so keep your eyes peeled! The only downside is some people fear the loss of privacy.
9. Finance
Because of AI, it is now easier for bankers and other finance professionals to identify patterns and algorithms to make more strategic trades. In the future, AI is estimated to help us track more risks and trends, aid in underwriting credit decisions, and immediately stop fraudulent credit card transactions. Soon, you may begin making financial choices with the assistance of a personalized financial program, instead of facing a real, live financial advisor.
10. Agriculture
We have saved the best for last because nothing can be more critical than this sector that feeds us all. With the help of AI, farmers can conduct on-the-spot scanning of crops for early detection of diseases. They can also rely on robots to spray pesticides with more accuracy, and predict crop yields based on their inputs.
Final Word
Artificial Intelligence is slowly transforming our homes and the industries where we work. These fearless forecasts on AI advancements may now seem impossible, but it is only a matter of time before we see them happening right before our eyes. With skills, knowledge, and technology improving with each passing day, there is so much more in store for all of us in the future. Although it has some downsides like job loss, privacy issues, and dependency, AI just has more benefits in store for humanity.
