Top 6 Industry Applications of Artificial Intelligence

AI is more ingrained in our daily lives than you might realize. A survey of 6,000 consumers found that while only 33% believe they use AI, over 77% engage with AI-powered services or devices. It is not surprising that many are unaware of AI’s reach—recent advancements in artificial intelligence have accelerated far beyond researchers’ expectations, achieving progress once thought to be decades away. 

One may wonder, “What won’t artificial intelligence (AI) be able to do?” when considering application cases for AI. The simple answer is mainly manual labor, while most of what is currently done by hand will eventually be done by robotic equipment under AI supervision. However, many jobs requiring thought and intelligence can currently be programmed using AI, provided the intelligence can be digitally captured and used to teach an AI system. While AI can assist in creating a legal brief, a new product design, or a letter to grandma, it still needs to be capable of loading the dishwasher after supper.

So, what are some everyday uses of AI?  

You might be surprised that it ranges from advanced robots to something as simple as your smartphone’s voice search feature.  
 
Below, we’ll explore more specific examples to understand better how AI is part of your daily life. 

Definition of Artificial Intelligence

The field of artificial intelligence, or AI, aims to employ computer algorithms to simulate human thought and decision-making. There are numerous branches of AI, each intended to carry out a specific function. While some are significantly more sophisticated, others tackle more fundamental functions. Some AI programs can even adapt their algorithms, and some have advanced to the point where they can perform in some domains more effectively than human professionals. 

AI Applications and Examples

What are some instances of AI in the real world? It might appear in a variety of ways. Artificial Intelligence is used by smartphones, chatbots, digital assistants, social networking platforms, and numerous smart home appliances, including security systems and robot vacuums. Naturally, there are other well-known applications in robotics and auto-navigation. 

We have broken down several uses to show how AI affects day-to-day activities. 

Business Intelligence

AI is becoming vital to business intelligence (BI), helping companies gather, analyze, and present data more effectively. Businesses can make better decisions, boost productivity, and cut costs using AI-powered BI tools. 

Some ways AI is being applied in BI: 

• Data Collection: AI gathers information from structured sources like databases and unstructured sources like text, images, and videos. 
• Data Analysis: AI identifies patterns, trends, and relationships within the data. 
• Data Visualization: AI creates explicit visual representations that help businesses understand their data. 
• Decision-Making: AI models provide insights and recommendations that support informed, data-driven business decisions. 

Education

AI in education can transform students’ learning by personalizing experiences, boosting engagement, and helping schools automate administrative tasks. 

• Personalized Learning: AI can tailor lessons to each student by tracking their progress, pinpointing areas where they need extra help, and offering targeted support. 
• Improved Student Engagement: AI can make learning more interactive and engaging. For example, AI-powered apps can give students instant feedback and support to motivate them. 
• Automating Administrative Tasks: AI can handle tasks like grading and scheduling, freeing teachers to focus more on teaching. 

Finance

AI in finance can assist financial institutions in five key areas: personalizing services and products, uncovering new opportunities, managing risk and fraud, ensuring transparency and compliance, and streamlining operations to cut costs.

For instance: 

• Risk and Fraud Detection: AI can quickly and accurately identify suspicious activities, such as potential money laundering. 
• Personalized Recommendations: AI delivers tailored financial product and service suggestions, like investment advice or banking offers, based on customer behaviors, peer interactions, risk tolerance, and economic objectives. 
• Document Processing: AI extracts structured and unstructured data from documents, helping with tasks like loan servicing and identifying investment opportunities through efficient data analysis and storage. 

Lifestyle

Several applications demonstrate the profound impact that artificial intelligence (AI) has had on various facets of daily life.

• Autonomous Vehicles: Artificial Intelligence is at the forefront of the automotive sector. Major industry players, including Tesla, Audi, Toyota, and Volvo, use machine learning to give computers human-like thought and driving capabilities. Algorithms for object detection contribute to increased safety by preventing accidents through intelligent decision-making. 
• Spam Filters: AI-driven spam filters are becoming a need for email management. Artificial intelligence (AI) is used by services like Gmail to filter out about 99.9% of spam, ensuring that only relevant and legitimate emails reach your inbox. 
• Face Recognition: AI-based facial recognition technology is becoming widely used in laptops, PCs, and smartphones. It works by detecting users’ faces to identify them and granting safe access. For further security, this technology is also commonly utilized in high-security sectors. 

Intelligent Gaming Models

Surprisingly, AI has been a part of the gaming world for quite some time. Over the years, developers have created AI systems that play games and learn from them. AI has even defeated human champions in games like Chess, Go, StarCraft II and the trivia game show Jeopardy. 

Beyond this, AI is heavily used in game development to enhance player engagement and keep users returning for more. Here are some examples of games that incorporate AI: 

• Red Dead Redemption 2: AI powers the NPCs to respond dynamically and life-like to the player’s behavior and choices. 
• Halo: Features enemy AI that adapts to the player’s strategy, creating more intense and personalized combat scenarios. 
• No Man’s Sky: Uses AI to generate endless procedurally-generated planets, providing unique environments for each player to explore. 

These examples show how AI gaming can shape the gaming experience, keeping it fresh, challenging, and captivating for players. 

Accelerate Operations with AIOps

AIOps (Artificial Intelligence for IT Operations) offers significant advantages by incorporating artificial intelligence into IT operations. Companies use AI, natural language processing (NLP), big data, and machine learning (ML) to automate tasks, streamline workflows, and monitor event correlations and causes. 

By implementing AIOps, companies quickly boost their ROI from digital transformation investments. They focus on reducing costs, increasing operational efficiency, and adopting innovative technologies that improve customer experiences. AIOps also help create more sustainable IT systems and enhance continuous integration/continuous delivery (CI/CD) pipelines. 

Why There Was a Need for an Artificial Intelligence System?

Think of a society where tasks accumulate, growing increasingly intricate and burdensome. Repetitive tasks, abundant data, and never-ending decision-making have become overwhelming for individuals and businesses. The pace simply proved too great for the outdated methods of operation. At that point, it was evident how significant artificial intelligence (AI) systems were.

AI provided the solution to this increasing need for effectiveness. It intervened to take over the repetitive duties that were slowing us down and enabled us to process vast volumes of data quickly. Thanks to AI, businesses could now finally simplify operations, act more quickly and wisely, and concentrate on what truly mattered: growth, innovation, and creativity. AI changed how we work and live by becoming more than just a tool and a companion in navigating the complexity of the modern world. 

Ending Note

Not only is AI influencing the future, but it is also transforming our present in ways that most of us are oblivious to. Artificial Intelligence is discreetly powering our daily services, from personalizing your shopping experience to making split-second choices in the financial markets. Artificial intelligence (AI) is becoming entrenched in our daily lives, accelerating innovation, efficiency, and change at a previously unseen rate. It is no longer a far-off notion. The question is not if AI will affect you but to what extent you will accept it.