AI is ubiquitous: 10 sectors being transformed using AI
It's hard to think of a sector today that is not being transformed using AI-powered tools. Here is a list of 10 such sectors.
Published By :IndiaAI
AI is everywhere! Here is a list of 10 sectors that are using the power of AI to transform the way they work.
Art: To create AI art, artists write algorithms not to follow a set of rules, but to “learn” a specific aesthetic by analyzing thousands of images. The algorithm then tries to generate new images in adherence to the aesthetics it has learned.
Finance and Accounting: In the digital transformation era, more and more clients are digitizing processes and increasing the number of spreadsheets and documents accounting and audit professionals must analyze. Artificial intelligence helps financial managers stay on top of transactions amid systems that are tedious and time-consuming.
Hotels and Hospitality Industry: An application powered by AI and ML enables the Travel and Hospitality industry to personalize services, analyze user reviews, and offer virtual assistance. Personalization ensures the guest has a pleasant experience and assures customer delight.
Travel: The travel industry has always been at the forefront of technology adoption, especially with digital technology trends. AI in travel and tourism is being used to predict travel choices, personalize services, complete bookings and manage in-trip and post-trip needs.
Political Science: AI will help us make better decisions in politics and economics. The use of machine learning, data science, and predictive analytics in governance could enable policymakers to pursue evidence-based policy, with AI providing a precise image of what a country needs and how problems could be solved.
HR: AI is being used in HR to automate repetitive, low-value tasks thus increasing the focus on more strategic work. AI tools automate common HR tasks like benefits management or handling common questions or requests.
Legal: With prediction technology, an AI software generates results that forecast litigation outcome. And using legal analytics, lawyers can use data points from past case law, win/loss rates and a judge's history for ascertaining trends and patterns.
Sales: Using AI, sales managers can now use dashboards to visually see which salespeople are likely to hit their quotas along with which outstanding deals stand a good chance of being closed. This will allow a manager to focus their attention on key salespeople and associated deals that will help the company hit their quota.
Marketing: AI in marketing is the use of customer data, machine learning and other computational concepts to predict a person's action or inaction. It can take on huge amounts of data and help marketers easily segment them. As such, marketers can further break down data to create customized content for their audiences.
Psychology: Some of the principal AI-assisted activities include clinical training, treatment, psychological assessment, and clinical decision making. Psychologists and other mental health care professionals have an essential part to play in the development, evaluation, and ethical use of AI technologies.
Submitted by: Onkar Nath, Data Scientist at CoRover