There is no denying the fact that Machine Intelligence or most popularly known as Artificial Intelligence (AI) is the buzzword in the world of technology. A lot has changed in the world of AI from the two decades ago when IBM’s Deep Blue, a chess-playing computer defeated the then reigning Chess Champion of the World, Gary Kasparov in 1997.

The rapid strides made in the field of AI has made intellectuals, innovators, entrepreneurs and technologists has got everybody talking. While a visionary entrepreneur like Elon Must have gone ahead and envisioned an AI Apocalypse in the making, others like Facebook founder Mark Zuckerberg have been quite upbeat about the incredible possibilities around Artificial Intelligence.

Some of the most important benefits of Artificial Intelligence include:

  • Eliminating the time and effort it takes to do manual and repetitive tasks
  • Improve CX by reducing the customer wait time, thanks to introduction of chat bots powered by AI
  • Doing away with human errors that can be a huge cost especially in industries like financial services and healthcare
  • Enable faster decision making and the fact that AI powered tools and technologies can work without any interruptions or breaks.
  • Help improve productivity and profitability

Some of the most important benefits of Artificial Intelligence include:

Today, artificial intelligence is increasingly being used across different industries, from visual perception to voice/speech recognition, decision-making and many other areas. Let’s explore some of these application areas of Artificial Intelligence:

Transportation – Some of the who’s who of the automobile world including the likes of BMW, Audi, GM, Volvo, Ford, and Volkswagen are going all guns blazing on projects involving driverless vehicles. Artificial Intelligence is at the core of the driverless mode of transportation.

Banking – Reliance on AI can help detect in real-time online banking frauds especially the ones related to credit cards which are on the rise. An avalanche of big data can be processed by machines to detect anomalies and prevent fraudulent transactions that have the potential to incur huge costs.

Healthcare – Many repetitive tasks in healthcare involving humans such as CT Scans, X-Rays and many other diagnostic tasks can be handled using Artificial Intelligence and executed much faster and more accurately.

Home Appliances – There is an influx of smart home devices across the world and why not. By setting defaults and preferences, customers can end up saving a lot of money in power costs, all thanks to Artificial Intelligence.

The perceived dangers of AI and how it will potentially replace all human jobs should be left aside for a moment. A strategic vision to harness the complete potential of Artificial Intelligence will go a long way in making developing nations like India, the technology capital of the world.

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