AI: Shaping up the future Business

With so much immersion of smart gadgets in our lives, we are no more alien to AI technology. We are at such a verge in our lives, where the creation AI is itself capable to create something better. Through AI we are blending our world into virtual and real dimensions simultaneously. This technology has bought a momentum in almost all the consumer activities right from buying, traveling, reading, studying etc. It is further accelerating the process of automation. By automation, we mean quick services, feedback, information etc which equips the business to the latest technologies and also leads to commercial growth which is error free.

Why AI
AI now is not just limited to the gaming industry but is moving rigorously in almost every service based sector. AI is the future of our present. Businesses are working on software supporting this need of the future. Siri, Alexia, Tesla,, Netflix, Google translate, Uber or Microsoft’s Cortona these are some of the famous technologies working on AI. Following are the major areas in which AI is flourishing:

Artificial intelligence helps in managing the customer relationship. Various e-commerce websites have already incorporated chatbots to provide instant assistance to customers. Also the analytics help in analyzing customer behavior. Nowadays Ads have also become more personalized in nature. After understanding the consumer buying behavior or searching pattern ads or offers are targeted to prospective customers. Through AI, leads to the most profitable audience can be easily generated. Algorithms can be derived focusing on the targeted audience by predicting their buying behavior which leads to lower cost of acquisition.

In the health care Application of AI in the medical field has been a driving force. It has the potential to detect diseases at an early stage. When detected timely it would help in drug developments. It is also helpful in digital medical records of specific cases. Through machine learning, a statistic can be formed indicating probable patient behavior to some specific treatment. It has increased the capabilities of the medical field growing on a positive note. A company named coala life provides digitized service to trace cardiac disease. On a similar note, there are people working on developing systems like Aifloo which helps in keeping surveillance on nursing homes, home cares etc.

With the front foot forward in the digital world there is a constant need to protect the cyberspace. Systems are prone to hacking. Artificial intelligence assists in creating software to safeguard the data. They act as intelligent detecting agents for neutralizing the effect of any cyber attack.

Use of AI in transportation can be helpful in maintaining the traffic flow, public surveillance for public safety. Apart from these commercially self-driving cars are launched. Not just this with the trend of drones pacing up the Uber is already onset to fly electric taxis. In the year 2017, Dubai launched its maiden drone taxi. By 2020 Rolls Royce is also planning to launch a crewless cargo ship. These are some of the examples that imbibe the artificial intelligence is transforming the transportation industry.

Most of the agrarian lands of the world are ending up. In addition to that growing climatic change, growth in population are the major concerns for the food industry. It can be helpful in crop and soil monitoring. Agricultural robotics is helpful in weed control and timely harvesting of the crops. A robot named see and spray has been developed by blue river technology which enhances computer vision and follows the defined path of spraying weeds etc. It is acclaimed that the assistance of artificial intelligence in agriculture practices helps to overcome crop loss and timely detection.

Finance and banking
Automation through Tools like Smacc helps in building business and financial reports simply by uploading the data from receipts and encrypting the same to generate the target areas to be concerned. In Banking also AI is growing fast to provide customer support. HDFC Bank has developed a chatbot termed EVA for customer support, analyzing any frauds. EVA collects information from various sources and replies back in just 0.4 seconds.

Just like other sectors, AI is also transforming the world of education by providing personalized learning i.e. it can be helpful in providing AI tutors or virtual assistant. These virtual assistants can guide the students irrespective of geographical boundaries and are a real help in specific cases like distance learning. It can also assist teachers to generate automatic grading of students by analyzing their answers, providing plans etc. several reminder apps are also being developed which would aid the students in revising their paper.

Artificial intelligence is simplifying our day to day activities. The introduction of the virtual world in different sectors is creating manifold opportunities which are error-free, cost saving and are quick in nature. With more and more opportunities being created it is hence important for any organization to adopt the newer means for strengthening the business. Be it mobile app development or website creation here at Miracle studios we would be happy to accelerate your business performance through AI.