Artificial intelligence advancements are accelerating, and many experts believe that AI will be employed in nearly every industry over the next few years. According to academics, five major uses of artificial intelligence will revolutionise our society by 2022. Here are several examples…
The AI market will be valued more than $32 billion in 2022, and the number of artificial intelligence applications in our daily lives will rise even faster. Artificial intelligence has already begun to alter the way we purchase, talk, and drive—and this is only the beginning.
If you are even somewhat aware of the technology that surrounds us, you will have seen tremendous developments in artificial intelligence and machine learning, and AI will be employed in ways that will revolutionise the world as we know it. Here are five artificial intelligence applications that will have an influence on our lives by 2022.
1. AI in retail
One of the most significant use cases for artificial intelligence in retail. AI is predicted to help retailers increase their operating margins by more than 60% by 2022. AI may be utilised for fraud detection, supply chain management, and pricing optimization, in addition to increasing customer service and suggestions.
The United States now leads the world in retail technology investment, but China is rapidly catching up. According to a recent Goldman Sachs analysis, American merchants spend $1 billion less each year on e-commerce technology than their Chinese competitors. The future of artificial intelligence in retail will be determined by whether American firms can keep up with foreign competitors in creating cutting-edge technology and attracting brilliant developers.
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2. Fulfilling orders on demand
According to a recent survey, more than 60% of customers are prepared to spend more for a product if it can be delivered the same day. This artificial intelligence use case is known as fulfilling orders on demand, and it is a game changer for organisations.
Businesses may use this technology to track inventories in real-time and route orders to the nearest fulfilment centre. Customers will receive their orders sooner and with less difficulty as a result of this. AI has also been able to cut order errors by 85%.
Furthermore, AI can help cut expenses because fewer errors imply less money spent on return shipments. Today, artificial intelligence is employed in warehouses to pull products off shelves so that humans do not have to waste time doing tedious labour.
3. Friendly chatbots
Chatbots are a prominent use of artificial intelligence. You may have already communicated with a chatbot without even recognising it! Chatbots are used to replicate a human conversation. They can be utilised to answer client queries, offer assistance, or simply make small conversation. Chatbots are getting increasingly smart as more firms use them.
Chatbots will be able to perform even more wonderful things in the future! They may, for example, serve as a personal assistant. Imagine telling your chatbot what you want to eat today, and it creating a whole meal plan for you based on your dietary preferences!
In certain cases, this form of technology has already been established. There are several chatbots that can utilise an API to convert your old, worn-out black-and-white images from the 1990s to a colourful sharp image. You may also do it manually to recover your old black & white photographs to colourful images using AI.
As we go forward, it is critical to keep an eye on the ever-changing technological scene. Artificial intelligence is one field that will undoubtedly have a significant influence in the future years.
4. Smart Industry
AI is utilised in the smart sector to forecast maintenance requirements, automate quality control, and optimise production schedules. This decreases downtime, improves productivity, and boosts safety.
Smart robots are employed in data-driven marketing to match a customer’s wants with the most relevant offerings.
Remote presence: Telepresence robots can be used to assist consumers remotely with duties such as product demonstrations or class instruction.
Automated hospitality: In hotels, airports, and railway stations, smart robots serve as receptionists or concierges; they also meet visitors at huge events and give guided tours.
Intelligent infrastructure: Sensors or drones can monitor infrastructure to detect faults before they cause damage. Robots may also monitor traffic flow or execute bridge repair while gathering wear and tear data.
5. AI in Content Creation
Artificial intelligence may assist content makers in a variety of ways. For example, AI may be used to conduct research and collect data for articles or blog entries. Furthermore, AI may be utilised to assist enhance writing quality by checking for grammatical and spelling problems. Finally, artificial intelligence may be utilised to produce ideas for fresh material or themes to write about.
Why should artificial intelligence be used? Humans cannot compete with AI’s speed and precision. Where does it appear today? Google Translate, for example, employs AI to translate languages on the fly without requiring an internet connection.
Another notable example is the Open AI Lab of San Francisco’s GPT-3 model, which is utilised by content writers to automate article generation with over 90% accuracy.
However, one possible disadvantage is the chance of erroneous information being presented as reality due to automated algorithms’ inability to distinguish fact from fiction.
