With all the buzz about AI going around, you might wonder, ‘where is AI used in our daily lives?’ Trends in AI & ML are changing frequently and in this article, we’ll be answering the AI applications in detail.
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You can find many applications of artificial intelligence in real life. In this article, we have listed out a few of them.
Let’s get started!
Top 7 Real-World Artificial Intelligence Applications
1) Personalized Online Shopping
Personalizing your experience has become the latest motto of all tech giants. Ecommerce stores aren’t behind either. They use AI-powered algorithms to curate the list of buying recommendations for you. Amazon’s recommendations are a great example of AI in e-commerce.
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They first collect user data by seeing what you searched for recently, what you clicked on, etc. Then, they create a list of the products you might be interested in for different categories. Through this personalization, you get relevant products to choose from, and your buying experience becomes far smoother.
Their recommendations are based on many data points, including your recent searches, your location, and your device, as well. For better personalization, they identify your location and show you products only in the currency you use.
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Credit card fraud is one of the leading problems faced by the finance sector in India. AI is helping in tackling this issue. Card companies are using AI to predict frauds before they even take place. How does AI do that?
They first gather all the cases of frauds and use AI and ML to identify patterns among them. Then, they let AI check the current user activity of suspicious accounts and help them find out whether it’s fraud or not. Card companies can now implement many preventative measures such as alerting the registered user, for minimizing credit card fraud cases.
Many stock traders also use AI applications for predicting stock prices and making investment decisions. Investors are using AI to analyze the balance sheets of businesses for making more informed decisions regarding their investments.
The finance sector is seeing applications of artificial intelligence in numerous areas.
3) Enhanced Images
Do you like the blur effect on photographs? Thank AI for it.
Cameras and apps use AI for applying different effects on images. AI can help in object identification in images. By using this feature, many apps and cameras let you add a variety of impact on your photos.
You can blur out the background, increase focus on a particular object, add filters to specific objects, and do a plethora of other amazing experiments on your photos with the help of AI. Google Photos also uses AI to let you look up photos of particular people in your collection. It identifies the faces of different people in your pictures and enables you to search accordingly.
Travel companies are using AI for several tasks. Apart from enhancing their customer support (which we’ve discussed later), they are also using AI tools for determining prices. AI and machine learning applications help travel companies in calculating profitable yet affordable prices according to various factors.
For example, if it’s the holiday season, and the demand for people going to Goa is high, the prices of these hotels would rise accordingly. Google Maps also uses AI and machine learning to provide its users with accurate trip estimations.
It can use AI to evaluate the level of traffic on the roads and give an accurate estimate for the trip. It can also calculate the estimated time it will take you to reach a particular point through different modes of travel, including bus, trains, and flights.
5) Customer Support
What’s a common change you’ve noticed on websites recently.?
No, we’re not talking about the ‘cookies’ or ‘push notifications.’ We’re talking about the chatbots which greet you with a simple message.
Chatbots are a great example of how AI can automate different tasks in an organization. Chatbots help new visitors to a website to find what they want. They foster familiarity and enhance the user experience considerably.
Chatbots can perform a bunch of other tasks, such as leading the customer to a particular page and answering your questions. You can’t have a customer support professional present 24/7 to talk to every visitor of your website. But you can have a chatbot for this task.
6) Smart Home Devices
Smart home devices are in trend because of the convenience they add to everyone’s lives. You must’ve bought one for yourself too.
These tools are also using AI to learn your behavior, and they enhance themselves accordingly. From natural language processing to other sophisticated applications, these devices use robust AI to keep your experience comfortable.
These devices can perform many tasks such as playing a particular track on the speakers or ordering something on Amazon. All of these tasks require them to use AI and deep learning algorithms.
They continuously learn about their users to enhance user experience. While they still have a long way to go, they are certainly one of the most powerful artificial intelligence examples applications.
7) Social Media Platforms
Among the many applications of artificial intelligence in the real world, the most prominent one is in social media. Social media platforms use AI for many purposes to make sure that your experience keeps improving with every click. For example, the advent of chatbots created a stir in Social Media.
Take, for example, LinkedIn’s ‘People you may know’ section.
LinkedIn’s algorithms analyze your profile, find its peculiarities, and then compare it with the other profiles present on its database. It suggests other profiles according to the similarities it finds between your profile and them. AI also empowers these platforms to show relevant ads to their users according to the users’ interests.
So if you liked the picture of a car in your feed, you might begin to see ads of car companies. These companies use AI and ML for managing the user data, too, because it keeps expanding every day.
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Isn’t AI interesting?
As you can see, AI is an amazingly powerful tool and startled the world many times, which we can use you in many industries. From finance to social media, it has already become a crucial part of many companies. If you are keen on learning more, checkout IIIT-B & upGrad’s PG Diploma in Machine Learning and AI Program.
What is the definition of Artificial Intelligence?
Artificial intelligence is the ability of software or a specific model to do complicated tasks without the aid of humans. Artificial intelligence is an extensive field of research that includes machine learning, deep learning, neural networks, computer vision, natural language processing, and a slew of other topics. It is anticipated to be a revolutionary technology capable of solving a wide range of issues in sectors such as robotics, medical sciences, logistics and transportation, finance, and plenty of other industries' utility services. The surge in popularity of Artificial Intelligence has drawn a lot of new attention to the field.
What are the advantages of artificial intelligence?
Artificial intelligence offers a lot of advantages. Besides the numerous job prospects generated by AI, it also provides benefits, such as the ability to complete looping or repetitive jobs that people must undertake without the risk of human mistakes. It is like a computer program that does not fatigue and can continue on a task all day long until the required results are achieved. They have the capacity to conduct quicker computations on a wide range of issues with more exact outcomes than humans. They also have a plethora of real-world applications that make our lives easier. Artificial Intelligence's advantages are self-evident and boundless.
Will artificial intelligence take away job opportunities from humans?
Artificial Intelligence is now the fastest-growing field. The need for experienced AI professionals is increasing at an unprecedented rate. Experts in AI subfields such as machine learning, deep learning, computer vision, statistics, and natural language processing are in high demand, with more openings every day. This claim that AI will steal your work in the future is essentially a fantasy. It is a speculative scenario where AI would replace all human activities and handle the bulk of current world occupations. Even though it is less prone to human mistakes and does the task more effectively, companies are more dependent on humans for their jobs. AI will create more employment for people to manage.