Top 5 Industries to be Affected by Artificial intelligence in 2020
In upcoming years, Artificial technology is emerging at a rapid rate and soon it will have a positive effect on various business sectors.AI has become a game changer for global business sectors by producing innumerable ways of possibilities. Due to the integration of AI in various sectors, the chances of improvement in the global economy has also been increased. Apart from the introduction of AI in various sectors, some of the business niches still suffer in choosing the correct AI application for their organization which can help them to generate positive ROI. Various industries will be affected by Artificial Intelligence in many ways. The top 5 trends to be watched out in 2020 are discussed below.
More Accurate and Less Costly Healthcare
Artificial Intelligence has already entered the healthcare sector and it has been and will continue to revolutionize this sector. Undoubtedly, AI can bring life-changing experiences for patients in both mental and physical ways. Currently, AI is the healthcare sector that is limited to categorizing the patient’s data only. John Frown felter, Chief Medical Information Officer stated that, with deep use of machine learning and big data, AI in healthcare has been evolved to higher levels. With the invention of virtual nursing and administrative workflow assistance, AI is emerging at a rapid pace in American Healthcare industries. Now with robot-assisted surgeries, surgeons can make more precise incisions and can also save time during surgery. IBM Watson and many other applications have already proven to be good for rare disease diagnostic and curing common health problems faster than doctors. Moreover, DreMed has been used by many individuals for the treatment of diabetes, based on their gender, age, diet plant. In the upcoming years, the robot-assisted surgeries will be helping US healthcare industries to save approximately $40 million every year.
The vice president of Intel AI stated that very soon the agriculture industry will be completely transformed by Artificial Intelligence and the AI tools will be helping farmers to get most of the profit from every acre of their farm.Since the population is growing at a rapid rate and on the other hand,the natural resources are degrading day by day. So in the future, we have to produce more with less available resources. Apart from the improvement in quantity, the quality of farm products has also been improved by AI. If we look at the agriculture industry, AI has already dominated it with major benefits.
Beginning from robots that were used to spray the exact amount of herbicides and pesticides on weeds, to the introduction of harvesting robots in the agriculture industry, that can do work of around 30 farmers in a single day, the agriculture industry has come so far. To supervise and improve the health of crops and soils, various applications are being upgraded. Moreover, various models integrated with machine learning are on their way which will be helping in predicting the impact of environmental changes on crop yields. AI is planning to develop special drones, that will help farmers to improve the quality of crop yields. Undoubtedly, the opportunities of AI in the agriculture field are massive, and in the future, the world will experience an extensive growth of yields annually.
Fashion retailers are slowly realizing the importance of their customers and dedicated followers, and they are planning to get on with Artificial Intelligence for the improvement of their business. They are now believing that AI has the potential to revolutionize and entirely transform their business.
Some AI-enabled gains could be observed in the processes that power the fashion zone, with smart technologies powering greater velocity, decrease fee and extended flexibility at each degree of the deliver chain. Ai has the capacity to power upgrades in regions such as forecasting, capability making plans and vending, as well as in production automation and delivery. Customers may be the ultimate beneficiaries, playing advanced product availability and extended success. The fashion zone, with its tremendous depth of customer and marketplace insight, has got the right of entry to a number of the most important statistics sets in all commercial enterprises. And, while a few style executives are uncomfortable with the suggestion that an industry built on creativity and imagination may be digitized or computerized, this can be said to overlook the point. The promise of AI for fashion outlets that can marry creativity with digital innovation has a powerful aggressive area.
With some advanced and latest features like online lectures & classes, an automated grading system, Artificial Intelligence has made learning more easy and fun for students. Various applications have been developed by AI for the education sector that has improved and personalized the academic domain in many ways. Some of the institutions have been advanced with AI that allows their students to submit assignments online, conduct online researches, and even attend classes also online. Books have been replaced by smart devices and classes have been turned in to smart projector classes. The fact that still there are some, those who cannot attend educational institutions on a regular basis, and online lectures help them to get knowledge. Some of the institutions believe that technology can be a distraction in the education world, whereas some believe that AI technology can boost up the academic world.
The robots that are going to replace human labor in the manufacturing industries due to their improved efficiency and productivity for producing more accurate and perfect products, clear the fact that the scope of Artificial Intelligence in the manufacturing industry is bright. There are several major changes have been seen in the manufacturing industry which has been proven to be beneficial in various domains. The robots that are going to be introduced in the manufacturing industries will be producing more accurate results without needing any programming, this means that the advantages that AI has for the manufacturing industry cannot be ignored.A computer science professor at Stanford University reported that very soon “AI will be shortening the designing time and reduction of material waste, which will surely improve the production of manufacturing business niche. Being energy-efficient and cost-saving, AI will continue to grow in the manufacturing sector by producing high-quality material in reduced time.
Some companies still believe AI to be tricky and gimmicky. Due to this, they have limited the use of AI to a chat bot assistant only. Along in addition automation of operations, in 2020 the plain precedence might be located on handling the relative lack of seasoned AI specialists (as overseers and instigators of company AI strategies) for lease and handling the issues of information quality and possession. The issues of algorithmic bias and non-transparency need to be solved too at the way to effective mass Artificial Intelligence adoption in the enterprise.