Artificial intelligence represents a new way of interacting with data. With the cost of sensors, data storage and analysis dropping dramatically. Currently, almost every industry can generate large amounts of data, for example, from the temperature of a computer processor to the vibration of bearings and other daily operations.
1. Logistics and distribution
Artificial intelligence systems are now operating supply chains. The applications of AI in logistics are wide-ranging, covering supply and demand, inventory, coordinating transportation networks, and scheduling vehicle maintenance. In its 2016 Logistics Trends Radar report, German shipping giant DHL said that by using AI, distribution operations could be optimized beyond belief in "manufacturing, logistics, warehousing, and last-mile delivery".
2. Healthcare
Artificial intelligence could reconfigure the entire healthcare industry from the bottom up. Researchers predict that the potential market for AI systems in the sector will reach $6.7 billion by 2021, prompting massive investment from tech giants like Google and IBM, as well as a number of startups. Artificial intelligence could also have a huge impact on the treatment of disease.
3. Advertising
Artificial intelligence is also having a huge impact on the retail and advertising space. Through the use of machine learning algorithms and automated sales assistants, bots are taking over the advertising industry, and your personal data is the "fuel" that drives the engine.
Artificial intelligence is already being used to improve the success of personalized, targeted ads on the Web and social media, but it's also being used to sift through vast amounts of data on buyer preferences to help online shopping giants such as Amazon and eBay spot shopping trends and digest inventory.
Of course, the technology has a long way to go before human creativity is completely replaced.
4. Finance
Unlike many industries, finance has been generating and preserving a wealth of data for years. And, because of the strict consistency of banking and financial records, the adoption of AI techniques is ideal. With this data, AI researchers are already looking for ways to use machine learning to streamline common financial problems such as risk management, loan approval, portfolio creation, and more.
5. Insurance
Fraudulent insurance claims are a $40 billion problem for insurers. But employing large amounts of human labor to screen insurance claims and identify fraud only increases costs for insurers. Eliminating more fraudulent claims through the use of artificial intelligence and machine learning could solve both problems. And it could also lower customer rates during the claims process.
6. Streaming and online video
Entertainment giants like Netflix and Amazon Prime are really eager to get to know you better. The advent of better streaming services and online video offerings has driven a huge shift in traditional entertainment models like cable TV. In addition, streaming services and online entertainment providers are using machine learning technologies to track and capture user preferences. Over time, these neural network-powered algorithms form a user profile about you, which leads to recommendations based on your preferences and allows you to spend more time with the services they offer.