ARTIFICIAL INTELLIGENCE
IN DIFFERENT SECTORS
1. Healthcare
The contribution of the
technology giants like
Microsoft, Google,
Apple and IBM in the
healthcare sector holds
significant importance
for the industry. AI is
currently being applied
for a wide range of
healthcare services,
including data mining
for identifying patterns
and then carrying out
the more accurate
diagnosis and
treatment of medical
conditions, medical
imaging, medication
management, drug
discovery and robotic
surgery.
For example, the application of IBM
Watson (an AI tool) can derive the
meaning and context of a set of
structured and unstructured data that
might be critical for selecting a
treatment plan, and then analyze the
patient’s medical record to identify
potential treatment. In other words,
IBM Watson functions like a human
doctor.
Similarly, a platform called Artificial
Intelligence for Drug Discovery
(AIDD), developed by the biopharma
company NuMedii leverages big data
and AI to detect the link between
diseases and drugs at the systems
level.
2. Retail and E-commerce
Retail and E-commerce is perhaps the
only space where the application of AI
is the most observable to the majority of
end-users. Being a competitive space,
retail organizations always lookout for
techniques to find patterns in consumer
behavior and thereby align their
strategy to outsmart their competitors.
AI has certainly found a sweet
spot in the entire scheme of
things. The product
recommendations on your
Amazon account are nothing but
a real-time application of
complex AI algorithms to
determine which products you
are more likely to buy.
AI applications are also
increasingly being used to
enhance the customer
experience. For example, many of
the chatbots available on e-
commerce websites are powered
by AI and programmed to provide
instant answers to a range of
3. Food Tech
AI has found applications in the food
industry. Have you ever thought of a robot
preparing your cup of tea?. Well, Hi Arya , a
food tech company, in collaboration with
LeewayHertz, has buit a robotic tea maker
based on Ai and IoT capabilities The smart
tea maker enables users to create their own
recipe from a web interface, mobile app, and
the machine itself.
Essentially, users place the order for
their cup of tea using the web interface,
machine, or mobile app. As soon as a
user places an order, the machine starts
preparing the tea and the user can enjoy
live-feed features to watch their tea
being prepared.
Similarly, AI development has touched
the industrial food processing sector as
well. For instance, a firm named Tomra
Systems ASA has developed AI-based
food sorting equipment targeting the
french fries, peeled potatoes, and the
diced and ground meat market. Tomra’s
food processors can help food-processing
companies automate food analysis tasks
such as measuring the size, shape, and
color of french fries or analyzing the fat
content in meat.
In the agriculture space, a firm
named Sentient is leveraging AI
to analyze the effects of variables
such as UV light, salinity, heat,
and water on basil. Armed with
the data, they are developing the
methods to raise the perfect
crops.
AI applications have also been
introduced into the farming
sector where we have seen a
surge in the use of intelligent
tractors and intelligent plucking
machines.
4. Banking and Financial Services
The Banking and Financial Services
industry is undergoing a massive
transformation due to the onset of AI
applications. AI uses cases in this space
are plenty. In many scenarios, human
agents are being replaced by intelligent
software robots for processing loan
applications in fractions of a second.
Similarly, Robo-financial advisors are
sifting through multiple levels of data in
split seconds to recommend the right
investment decisions for customers.
These Robo-advisors can also analyze your
social media activity, emails and other
personal data to identify the sectors and
companies aligned to your long term
needs and objective
Furthermore, AI-based chatbots are
being deployed in the Insurance sector
to improve the customer experience
and create insurance plans and
products based on customers’ data.
The use of AI-based software has also
significantly reduced the claim
processing time, thus helping both the
insurance companies and customers.
Another important application of AI in
the finance sector is fraud detection.
For instance, Mastercard uses AI-
based Decision Intelligence technology
to detect fraudulent transactions by
analyzing various data points.
5. Logistics and Transportation
The logistics and transportation
industry is on the verge of an AI-
infused revolution. The use of
machine learning and predictive
analytics has already transformed
supply chain management,
making it a seamless process.
Many warehouses use AI-
powered robots for sorting and
packaging products in
warehouses. Furthermore, AI
algorithms are also being
increasingly used to find the
quickest shipment route and
support the last-mile delivery.
In the transportation industry, self-
driving vehicles will undoubtedly
be the next big thing. Although
they are still in the research and
trial stage in many countries, AI-
based self-driving will potentially
replace manual driving and make
driving on roads safer. Tesla, Uber,
Volvo and Volkswagen are at the
forefront of this research.
6. Travel
The travel industry is set to
derive significant benefits from
the widespread use of AI-enabled
chatbots. Chatbots are a proven
means for improving customer
service and engagement mainly
because of their 24*7 presence
and instant resolution of queries.
Advanced AI algorithms are
powering chatbots with increased
efficiencies, enabling them to
provide more accurate responses
to customer queries. Many large
travel organizations are turning
to AI companies to build their
own AI-based mobile apps and
chatbots for improving the
customer experience.
Furthermore, machine learning
and predictive analytics help
travel companies increase their
conversion rates by identifying
customer behavior and
7. Real Estate
The application of AI in the real
estate industry is opening new
opportunities for agents, brokers
and clients alike. While agents
are becoming more efficient and
effective, brokers are getting
more strategic and consumers
are feeling empowered. AI-
powered bots help brokers and
agents find the perfect match for
people looking to buy, rent or sell
their properties.
AI can be utilized in the real
estate industry in the following
ways.
Real estate professionals can use
artificial intelligence to analyze
market conditions, property
prices, and other factors to
determine property values,
trends, and investment
opportunities.
Using artificial intelligence, real
estate documents, such as lease
agreements, mortgages, and title
deeds, can be managed and
The predictive modeling component
of AI can be used to predict rental
income, property prices, and other
aspects affecting the real estate
market.
Smart home technology, such as
thermostats and security systems,
can be integrated with AI to increase
energy efficiency and security.
Also, AI-based chatbots can operate
24*7 and help real estate website
visitors find answers to their queries
even during the odd hours.
8. Entertainment and
Gaming
Making an entry into the
entertainment industry, AI is
helping program producers and
broadcasters identify which
shows or programs they should
recommend to individual users
based on their activity. It helps
Netflix and Amazon provide a
more personalized experience
to users.
Machine Learning algorithms are
widely being used to study user
behavior and such algorithms are
becoming more intelligent with time, to
the extent that they can determine
whether a user wants to purchase a
product for themselves or gifting
purposes, or whether family members
have different watching preferences.
In the film industry, AI is being
employed to enhance digital effects in
movies, to save costs and to speed up
the pre and post-production process.
For instance, Natural Language
Processing (NLP) is used to structure a
script for storyboarding, or data is used
to arrive at an optimal schedule for
filming.
In the music industry, large companies like
Apple and Spotify implement AI to
understand users’ engagement patterns and
recommend the right music to the right
people and at the right time. In music
production, the AI-driven computer
accompaniment technology enables a
machine to compose real-time music in
response to the performance of a live
musician.
The gaming industry was one of the early
adopters of AI and its impact on the user
experience has been profound. Among
several applications in gaming, AI is used to
control the actions of non-player characters
(NPC) that play a role in advancing the
game’s storyline in a specific direction. AI-
driven behavior modeling of such characters
greatly enhances the gamer’s experience in
the overall storyline.
9. Manufacturing
It is beyond doubt that the
manufacturing industry is leading the
way in the application and adoption of AI
technology. In manufacturing, AI is
being employed across several lines and
layers of operations, from workforce
planning to product design, thus
improving efficiency, product quality and
employee safety.
In factories, machine learning and
artificial neural networks are employed
to support predictive maintenance of
critical industrial equipment, which can
accurately predict asset malfunction. It
helps the management take timely
measures to restore the equipment and
prevent costly unplanned downtime.
Robots are an integral part of the
production process. The majority of
industrial robots are often stationary
yet in danger of crashing into nearby
objects. The use of AI in robotics has
heralded the concept of collaborative
robots or “cobots” that can take
instructions from humans and work
productively alongside them.
As AI evolves to the next level, it is
increasingly taking the lead as the
single most significant driving force for
technology transformation. We are part
of the age where machines are starting
to understand and anticipate what users
want or likely to do in the future. It has
enabled endless possibilities and what
we’ve seen to date or could speculate
for the future comprise a minuscule part
of the broader capabilities of
AI. Healthcare, pharmaceutical
research, retail, marketing, finance and
intelligent process automation are some
of the sectors that will see the fastest AI
investment growth in the next five
years.
10. Automotive
From self-driving cars to driver
assistance systems and traffic
prediction to improve safety and reduce
traffic congestion, AI has several
potential practical applications in the
automotive industry. It can be used to
power self-driving cars, helping them to
make smart decisions, navigate roads
and avoid obstacles. Driver assistance
systems, such as adaptive cruise
control, lane departure warning, and
automatic emergency braking, can be
enhanced with the help of artificial
intelligence. Using cameras, radar, and
other sensors, these systems detect and
accommodate traffic conditions,
contributing to safer and more efficient
driving.
Using artificial intelligence,
traffic signals, signs, and other
infrastructure can be adjusted to
respond to changes in traffic
conditions to optimize traffic flow
and reduce congestion on roads.
By analyzing data from vehicles,
AI can determine when
maintenance will be needed,
including when a component will
fail. By scheduling maintenance
before a problem occurs,
automakers and fleet operators
can reduce downtime and costs.
