In recent years, “Artificial Intelligence” (AI) has become a buzzword in many technical discussions. Self-driven cars, high-end robotics, AI-driven traffic management, Smart grid maintenance, etc., are few things that one alludes to when talking of AI, which sounds futuristic despite the random news we get to hear about the developments made in this direction.
Table of Contents
- AI Facts and Figures
- Main Examples of Artificial Intelligence Takeaways
- What is Artificial Intelligence?
- How Artificial Intelligence Helps With Web Searches
- How Artificial Intelligence Improves Email Communications
- How Artificial Intelligence Improves Social Media
- How Artificial Intelligence Improves Google Navigation
- How Artificial Intelligence Improves Experience in Online Shopping
- How Artificial Intelligence Improves Banking and Finance
- How Artificial Intelligence Improves Home Experience
- Other Examples of Artificial Intelligence Use
- Dash Technologies for Enterprise Leaders
AI Facts and Figures:
- In A report by PWC stated that AI-enabled activities could raise the global GDP to 14percent by the end of 2030, which sums up to $15.7 Trillion. This is evidence of the potential that AI software development has today and in the future to come.
- According to Tractica, a market research firm, the Global AI Market is expected to reach 118 billion dollars by 2025.
- As per Gartner, 37% of organizations have implemented AI in some form. The percentage of enterprises employing AI grew 270% over the past four years.
- According to Servion Global Solutions, by 2025, 95% of customer interactions will be powered by AI.
- A recent 2020 report from Statista reveals that the global AI software market is expected to grow approximately 54% year-on-year and reach a forecast size of 22.6 billion U.S. dollars.
Main Examples of Artificial Intelligence Takeaways:
|1.||Artificial intelligence is an extensive branch of computer science that focuses on building smart machines.|
|2.||American computer scientist John McCarthy coined the term artificial intelligence back in 1956.|
|3.||Artificial intelligence and robotics are two entirely separate fields.|
|4.||The four artificial intelligence types are reactive machines, limited memory, Theory of Mind, and self-aware.|
|5.||Other subsets of AI include big data, machine learning, and natural language processing.|
|6.||Artificial intelligence examples include Face ID, the search algorithm, and the recommendation algorithm, among others.|
The word artificial intelligence may seem like a far-off concept that has nothing to do with us. But the truth is that we encounter several examples of artificial intelligence in our daily lives.
From Netflix’s movie recommendation to Amazon’s Alexa, we now rely on various AI models without knowing it.
Read more about the opportunities offered by emerging technologies and Grow Your Business: Technology Trends that will Shape Innovations in 2021/22
What is Artificial Intelligence?
In laymen’s terms, Artificial Intelligence can be described as the ability of the computer to perform tasks that are commonly related to intelligent beings.
Nowadays, technology is more accessible and understood among the common people. This has propelled the field of AI software development to new dimensions. This phenomenon has enabled many businesses to implement AI into their business processes with ease.
In this article, we’ll consider many examples of how we’re already using artificial intelligence in our daily lives.
How Artificial Intelligence Helps With Web Searches:
Google Predictive Searches
When you start typing a search term, and Google offers you a list of suggestions, that’s artificial intelligence in action.
Data collected by Google about you, such as your location, age, and other personal details, are based on predictive searches. The search engine uses AI to try to anticipate what you might be looking for.
The purpose of Google’s algorithm is to deliver the best possible results to the searcher. To do this, Google uses AI to determine the quality of content and match it to the user’s query.
Google’s algorithm provides the best possible results for the searcher. If Google can identify the quality of the content, it can match it with a user’s search.
How Artificial Intelligence Improves Email Communications:
Gmail Smart Replies
Surely you’ve noticed that Gmail urges you to use simple phrases in your email responses. Such as “Yes, I’m interested” or “Thank you.” Moreover, it suggests appropriate words even if you manually type your answer. It’s as simple as using the Tab key to add the phrase “to hearing from you” to your message if, for example, you typed “looking forward.”
As machine learning (ML) and artificial intelligence (AI) learn, anticipate, and mimic how you reply over time, smart responses are personalized for each email.
In addition to categorizing our emails into Primary, Promotions, Social, and Updates, Gmail relies on the artificial neural network to identify and block spam. Per Gmail, its average inbox has lower than 0.1% of spam.
How Artificial Intelligence Improves Social Media:
AI makes it easier to identify and interact with friends and business associates thanks to its artificial intelligence capabilities. Some of the ways you may benefit from AI on social media include the following:
Candidate matching for the job is assisted by artificial intelligence (AI) to improve employee-employer matches.
As LinkedIn explains on its talent blog, they use “deeper insights into the behavior of candidates on LinkedIn” to “predict not only who would apply for your job, but who would get hired…”
Pinterest’s LENS feature employs artificial intelligence (AI) to detect objects in photos. Picture your friend’s maple dining set using Pinterest’s LENS tool, and its AI-driven feature will help you find similar tables. It’s that simple.
Machine learning algorithms are used in the development of chatbots or conversational interfaces. Complex questions requiring comprehensive responses can be answered by advanced chatbots, giving consumers the appearance of interacting with a human customer representative. Artificial intelligence in web applications like chatbots saves commercial organizations money by reducing labor costs while enhancing the customer experience.
Read to know more Rise of the Chatbot: How AI is Revolutionizing Customer Service
Have you ever noticed how Facebook suggests new friends for you to add to your social circle? Behind their suggestion system rests a robust implementation of AI and ML that analyzes your usage patterns and drives features such as identifying friends from photos, newsfeed personalization.
Facebook even introduced a feature that scanned user’s posts to detect if they are planning to cause self-harm to get them the help they might require.
How Artificial Intelligence Improves Google Navigation:
Ridesharing App Like Uber
There are endless examples of artificial intelligence in daily life, but when it comes to using an app like Uber, were you aware that it runs on AI.
We are so amazed by the ease of use and the utility that we forget to know the specific thing that runs this app.
We never pay attention to questions like-
- How do these ride-sharing businesses set a fee for every trip we’re about to take?
- How do they shorten the time it takes for the car to arrive at your destination?
Artificial Intelligence is the magic underlying all of this. This famous company uses AI and ML for GPS navigation. Traffic and arrival times may be predicted using a variety of sophisticated algorithms. This software can calculate the most efficient route for the ride by using massive amounts of data in a short period. Keeping in mind user preferences, Uber provides a list of previously searched destinations for quick booking; this is one amazing feature.
Smart Cars/Self Driving Cars
Among the various artificial intelligence examples in daily life, one is Autonomous Vehicles. Autonomous vehicles have always been in the limelight; recently, Elon Musk’s TESLA dominates tech talks. Autonomous Vehicles (AV) are well equipped with multiple sensors that help them better understand their surroundings.
These sensors generate a huge amount of data to be processed to make sense of the complex data. Companies manufacturing these sensors depend heavily upon AI and algorithms to process huge amounts of data and validate the driving systems.
AI has been paving the way for more advanced development in the autonomous driving industry.
How Artificial Intelligence Improves Experience in Online Shopping
Notice how you can type in “Red Bags” and get a list of red-colored bags instantly? It is made possible by the underlying AI algorithms, regularly categorizing product searches for efficient indexing.
Enhancements to product recommendations use Machine Learning, using your usage patterns to suggest products and help you with your searches. Almost every online marketplace, including Amazon, Flipkart, Myntra, and many more, has made these changes since they are prevalent and offer a comparatively better buying experience.
How Artificial Intelligence Improves Banking and Finance Industry:
There are countless examples of artificial intelligence in financial services, but this one is major.
When AI and ML first came into the picture, financial services were reluctant to employ these technologies in their operations. Still, considering the benefits these two technologies add to the business models, even banks got ready to incorporate AI and ML in their functioning.
AI is often used in the development of banking apps nowadays. Its benefits are innumerable:
- Fast and correct assessment of borrowers at lower costs.
- Automated routine processes.
- Dip in the costs to solve standard tasks.
- Efficient and effective processing of huge amounts of data.
- Improved client support system.
Among all the benefits that AI offers, AI-based credit scoring is probably the best one.
Machine Learning can prevent fraud by regularly monitoring your spending habits, taking into account various factors such as intervals between transactions, their location, value, and more. The technology can help pinpoint whether the transaction is a legitimate one or a fraud.
Artificial Intelligence can help safeguard your payments by using facial and speech recognition, allowing only authorized payments to go through. Alerting for various payments such as bills, loans, transfers can also be managed by AI.
By using Artificial Intelligence in daily life, banks have gone entirely digital. Opening a bank account has never been easier, thanks to the paperless process. They now provide personalized mobile banking experiences to their customers with special offers on their services.
How Artificial Intelligence Improves Home Experience:
For the best tech in home security, many homeowners look toward AI-integrated cameras and alarm systems. These cutting-edge systems use facial recognition software and machine learning to build a catalog of your home’s frequent visitors, allowing these systems to detect uninvited guests in an instant.
AI-powered smart homes also provide many other valuable features, like tracking when you last walked the dog or notifying you when your kids come home from school. The newest systems can even call for emergency services autonomously, making it an attractive alternative to subscription-based services that provide similar benefits.
Other Examples of Artificial Intelligence Use:
AI is set to transform practically all aspects of life and the economy. Here are just a few examples:
AI can help European manufacturers become more efficient and bring factories back to Europe by using robots in manufacturing, optimizing sales paths, or by on-time predicting of maintenance and breakdowns in smart factories.
Robots in manufacturing, optimizing sales paths, or on-time prediction of maintenance and breakdowns can help manufacturers become more efficient and bring factories back to technology.
Artificial Intelligence against Covid-19
When it comes to the Covid-19, artificial intelligence has been used for thermal imaging at airports and other places. Computerized tomography lung scans can be used to detect infections. In addition, it has been used to collect data to track the disease’s spread.
With the help of artificial intelligence, researchers are investigating how to analyze vast amounts of health data and identify trends that might lead to discoveries in medicine and methods to improve health care for all individuals.
Read here to know The Rise of AI: Technology Trends in Healthcare
AI might increase traffic safety, speed, and efficiency by reducing rail wheel friction, increasing speed, and enabling autonomous driving.
Food and Farming
AI can be used in creating a sustainable food system: it can ensure healthier food by minimizing the use of fertilizers, pesticides, and irrigation, help productivity and reduce the environmental impact. Robots could remove weeds, lowering the use of herbicides, for example.
Public Administration and Services
AI might give early warnings of natural disasters and enable effective planning and mitigation of consequences by using various data and pattern recognition.
Many AI software development companies are building better AI solutions to help us refine our processes and get high output. Some people fear that AI will take over the jobs of many people. However, the implementation of AI seems beneficial and, to a certain extent, eliminates the margin for human errors. Only the future will tell us how the use of AI would transform our lives.
Dash Technologies for Enterprise Leaders:
AI capabilities described in this article have a wide range of use-cases in business. Our expertise at Dash helps business leaders to understand where AI fits in their organizations. For more information on AI capabilities such as machine vision, chatbots, and predictive analytics, don’t hesitate to get in touch with us.
Things to Know:
Why do we say layman’s terms?
We use simple terms when we try to explain a complex issue so that the average person can easily understand it. Speaking in layman’s terms is not to dumb down. It is to educate using terms that an average person can easily digest. You need to use the simple words first to define what the big words mean.
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