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Future Scope of Artificial Intelligence in Various Industries

Can you find an industry where AI isn’t present? Chances are, you wouldn’t be able to. AI is one of the most popular technologies on the planet, thanks to its versatility and advanced solutions. It has been growing at a fast pace, but what is the future scope of AI? We’ll find answers to this question in this article by taking a look at various sectors that are using (or are planning to use) this technology.

Scope of Artificial Intelligence 

1. AI in Science and Research

AI is making lots of progress in the scientific sector. Artificial Intelligence can handle large quantities of data and processes it quicker than human minds. This makes it perfect for research where the sources contain high data volumes.

AI is already making breakthroughs in this field. A great example is ‘Eve,’ which is an AI-based robot. It discovered an ingredient of toothpaste that can cure a dangerous disease like Malaria. Imagine a common substance present in an everyday item that is capable of treating Malaria; it’s a significant breakthrough, no doubt. 

Drug discovery is a fast-growing sector, and AI is aiding the researchers considerably in this regard. Biotechnology is another field where researchers are using AI to design microorganisms for industrial applications. Science is witnessing significant changes thanks to AI and ML. Learn more about the benefits of AI.

2. AI in Cyber Security

Cybersecurity is another field that’s benefitting from AI. As organizations are transferring their data to IT networks and cloud, the threat of hackers is becoming more significant. 

One triumphant attack can wreak havoc on an organization. To keep their data and resources secure, organizations are making massive investments in cybersecurity. The future scope of AI in cybersecurity is bright. 

Cognitive AI is an excellent example of this field. It detects and analyses threats, while also providing insights to the analysts for making better-informed decisions. By using Machine Learning algorithms and Deep Learning networks, the AI gets better and more durable over time. This makes it capable of fighting more advanced threats that might develop with them. 

 Many institutions are using AI-based solutions to automate the repetitive processes present in cybersecurity. For example, IBM has IBM Resilient, which is an agnostic and open platform that gives infrastructure and hub for managing security responses. 

Another field is fraud detection. AI can help in detecting frauds and help organizations and people in avoiding scams. For example, Recurrent Neural Networks are capable of detecting fraud in their early stages. They can scan extensive quantities of transactions quickly and classify them according to their trustworthiness. By identifying fraudulent transactions and tendencies, organizations can save a lot of time and resources. It surely lessens the risk of losing money. 

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3. AI in Data Analysis

Data analysis can benefit largely from AI and ML. AI algorithms are capable of improving with iterations, and this way, their accuracy, and precision increase accordingly. AI can help data analysts with handling and processing large datasets. 

AI can identify patterns and insights that human eyes can’t notice without putting in a lot of effort. Moreover, it is faster and more scalable at doing so. For example, Google Analytics has Analytics Intelligence, which uses machine learning to help webmasters get insights on their websites faster. 

You can ask Analytics Intelligence a question in simple English, and it would give you a prompt reply. It also provides webmasters with Smart Lists, Smart Goals, Conversion Probability, and other features that help the webmaster in improving the results of their site. 

The scope of AI in data analytics is rising rapidly. Another example of AI applications in this sector is predicting outcomes from data. Such systems use the analytics data to predict results and the appropriate course of action to achieve those results. Learn more about AI applications.

As mentioned earlier, AI systems can handle tons of data and process it much faster than humans. So, they can take customer data and make more accurate predictions of customer behavior, preferences, and other required factors. Helixa.ai is a great example of such an AI application. They use AI to provide insights into customer (or audience) behavior for higher accuracy and better results. Agencies and marketers can use their services to build precise buyer personas and create better-targeted ad campaigns. 

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4. AI in Transport

The transport sector has been using AI for decades. Although the presence and scope of artificial intelligence have been theoretically existent for some time now, only a few people are aware that we use it on a regular basis. The scope of AI is quite advanced because it can learn automated manual tasks just like humans. Since automation is becoming more prevalent, time-consuming tasks are being taken over by AI. Any system that has AI shows the same amount of potential that human intelligence shows. These AI-powered machines can carry out jobs that require critical thinking and decision-making processes all by themselves. Several businesses in the transportation sector have been taken over by AI so that they can stay ahead in the market.

Autopilot helps the human operator and assists them in heading in the right direction. A pilot of a modern aircraft usually works for 7 minutes; the autopilot handles most of the steering of the plane. This allows the pilots to focus on other more important areas of the flight, such as the weather and the trajectory of the plane. 

Another area where the future scope of AI is quite broad is driverless cars. Many companies are developing autonomous vehicles, which will rely heavily on AI and ML to operate optimally. Experts believe self-driving cars will bring many long-term and short-term benefits, including lower emissions and enhanced road safety. For example, self-driving cars will be free from human errors, which account for 90% of traffic accidents. Many companies, including Tesla and Uber, are developing these vehicles. 

The scope of artificial intelligence has expanded and helped in the evolution and innovation of the sector of transportation. AI come with several benefits like an increase in safety of the passengers, fewer accidents, lesser traffic congestion, lesser carbon emissions, and reduced financial expenses.

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5. AI in Home 

AI has found a special place in people’s homes in the form of Smart Home Assistants. Amazon Echo and Google Home are popular smart home devices that let you perform various tasks with just voice commands. 

You can order groceries, play music, or even switch on/off the lights in your living room with just a few voice commands. Both of them rely on Voice Recognition technologies, which are a result of Artificial Intelligence and Machine Learning. They constantly learn from the commands of their users to understand them better and become more efficient. 

Smart assistants are also present in mobile phones. Apple’s Siri and Google Assistant are great examples of this sort. They also learn to recognize their users’ voices to interpret them better all the time. And they can perform a plethora of tasks. Microsoft also has a smart assistant, which is called Cortana. 

You can use these smart assistants for various tasks such as:

  • Playing a song
  • Asking a question
  • Buying something online
  • Opening an app

There’s a lot of room left for improvement, but surely, the scope of AI in the smart home sector is booming. 

6. AI in Healthcare

The medical sector is also using this technology for its advantages. AI is helping medical researchers and professionals in numerous ways. 

For example, the Knight Career Institute and Intel have made a collaborative cancer cloud. This cloud takes data from the medical history of cancer (and similar) patients to help doctors in making a better diagnosis. Preventing cancer from moving to higher stages is its most effective treatment at this time. 

We’ve already mentioned how AI is helping researchers in their field too. Apart from finding a cure for cancer, some organizations are using AI to help patients get telemedicine. The UK’s National Health Service uses Google’s DeepMind platform to detect health risks in people through apps. 

Wrong diagnoses are a significant problem in the medical sector. AI can help doctors in avoiding these errors by providing them with relevant databases and recommendations. It can analyze the database of patients with similar symptoms and suggest the treatment that was the most successful in those cases.

Many major organizations, including IBM and Microsoft, are collaborating with medical institutions to solve the various problems present in the healthcare sector. 

AI can also help in reducing medical costs by preventing diseases beforehand and helping doctors in making better diagnoses. BCIs (Brain-computer Interfaces) is another area where the medical sector is utilizing AI. These interfaces help in predicting problems related to speaking or moving that might develop due to problems in the brain. They use AI to help these patients overcome these issues, too, by decoding neural activates. 

Artificial intelligence scope has also been the reason why businesses have been transformed from the core, and it is only expanding. Conducting an online business appears to be an easy task, but that is far from the truth. Many businesses have gone online to satisfy their customers’ needs and deliver a unique and comfortable experience.

For businesses to make better and more informed decisions, they have to manage massive amounts of data generated each second. Artificial intelligence has played a huge role in this procedure. The scope of AI is prominent in all aspects of business, like sales, marketing, customer support, and the HR department.

For example, a company like Amazon uses AI to provide the most accurate services to its customers. They give personalized recommendations of the products they think the customers will use based on their web behaviour. This AI algorithm is responsible for almost 40% of the entire business of a company like Amazon.

7. AI in Education

The importance of education in this world has been prevalent, but it continues to grow even today. With a large part of the country’s population being the youth, it is important that they receive a good quality education. Along with that, it is also necessary that they understand AI and its benefits. Just like all the other sectors, it is critical for the education sector to keep up with AI as well as the artificial intelligence scope keeps increasing to fuel the education sector.

Artificial intelligence plays a huge role in every aspect of education. Here are some of the leading roles of AI.

  • Artificial intelligence can make sure that every educational software is customized according to the student’s needs and capabilities.
  • Education will now be available to everybody sitting across the globe without any language barriers.
  • While there are several concerns that once AI becomes more prevalent, the people doing manual labour will lose their jobs. While AI has the ability to do several menial tasks, they are meant to complement these workers and not replace them. AI is just a machine, and it will require human assistance.

There is a connection between education and AI in 3 different areas; learning about AI, learning with AI and preparing for AI. UNESCO has appointed an international Advisory Board to create a framework for students in which they learn all about how to use AI and how it can affect the human race. This workshop is not only targeted at students but at teachers as well.

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Why you should become a Certified AI Professional

Artificial Intelligence is one of the fastest-growing sectors in the tech sector. And as you can see clearly, the scope of AI has expanded into many sectors, including healthcare, transport, and security. Due to such growth, multiple industries require the expertise of skilled AI professionals. 

That’s why it’s the perfect time to become an AI expert. You might wonder, “How can I become an AI professional?”

For that purpose, you should take an AI certification course. At upGrad, you’ll find an extensive collection of courses on Artificial Intelligence and Machine Learning. They will make you familiar with all the required subjects and give you the necessary training to become an expert on this subject matter. 

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Conclusion

We’ve reached the conclusion of our discussion. We hope you liked this article. If you have any questions on this topic or on how to become an AI professional, feel free to ask us. We’d love to hear from you.

If you’re interested to learn more about machine learning, check out Master of Science in Machine Learning & Artificial Intelligence which is designed for working professionals and offers 450+ hours of rigorous training, 30+ case studies & assignments, IIIT-B Alumni status, 5+ practical hands-on capstone projects & job assistance with top firms.

How Artificial Intelligence is changing the world?

Artificial intelligence is the next big revolution which is changing the world. As per “ Forbes ” the world is getting more intelligent day by day. The estimate is that the majority of the tasks will be performed by AI and machines by the year 2030. Artificial intelligence is a very powerful technology which is changing the world. It is one of the most exciting and promising technologies of the 21st century. Artificial intelligence is affecting various industries including transport, healthcare, ecommerce, etc. It is changing the world in so many ways. It is affecting each and every domain of life. It is one of the most powerful technologies. It is changing the world by making life easy for human beings.

What are the limitations of artificial intelligence?

Some of the limitations include: 1. AI does not have the ability to understand context 2. AI does not have the ability to learn new concepts. 3. AI does not have the ability to understand the aesthetic or emotional value of an experience. 4. AI cannot be creative. 5. AI cannot generalize from a small amount of data. 6. AI cannot be aware of its own existence.

Can artificial intelligence replace humans?

There are hundreds of thousands of different jobs out there and AI is not even close to replacing them. Entire industries will disappear because of AI, but new industries will take their place. Artificial Intelligence has been around for years and the reason why it has not replaced many jobs is because it only works in black and white. If a person is working with very little supervision, it cannot replace them. In fact, the biggest use for AI is to assist humans in making better decisions. Some of the top industries where artificial intelligence and big data merge to reduce cost and improve efficiency are healthcare, retail, finance, and insurance and logistics.

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