Artificial intelligence has had a profound impact on our lives. A study by Tractica found that the global AI market is projected to grow to $118.6 billion within the next six years.
The market for artificial intelligence technology is growing largely due to the number of industries that depend on it. Almost every industry can use AI technology in some capacity.
An article on Towards Data Science for a paper for a course on Computing and Society at Bucknell University showed that there are a number of case studies on artificial intelligence. However, macro-data on the influence of AI on entire industries is perhaps more illustrative of the growth of AI.
Industries Shaped by AI
There are so many traditional industries that are trying to do everything they can to keep up with the rapid pace of AI technology. Innovations in AI technology are having a huge impact on the market and they are also allowing more and more people to think outside the box too.
There have been so many medical advancements over the last few years and this is especially the case when you look at the world of healthcare. Medical devices and even surgical equipment have come a huge way and the recovery time of patients has also been reduced. However, AI is arguably the most influential new technology in the field of healthcare.
WebMD has discussed the role of AI in healthcare. Healthcare providers are using AI to deliver life-saving treatments to their patients.
A lot of this comes down to genetic testing and even medical imaging too, which is highly dependent on new AI advances. This has improved diagnosis, detection and even the treatment of disease too. What’s interesting is that 3D printing has also played a part. Limbs and medical equipment can easily be made through technology like this and extensive research is even being done on human tissue. Some experts believe that it would be possible to look into bioprinting. This would potentially mean that entire organs can be created.
Before the internet really hit the market- casinos were limited to brick and mortar buildings. When you look at how things are now on the other hand, you will soon see that things have radically changed and that casinos can now operate online with ease. AI technology has made them far more sophisticated. Gaming providers now use advanced predictive analytics tools to deliver a better user experience. Take slots for example, you can easily play them online or you can go to your local casino instead if you want.
The fashion industry is also being boosted by the technology industry. Apps such as Craves for example give you the chance to upload any pictures of fashion items you love. When you have found the ones you want, you can then buy visually similar items with the click of a button. Other apps give you the chance to virtually try on any clothing items you want so you can see if you would suit the color and you can also see if it would work with your accessories.
The financial industry is becoming more streamlined by the day. It’s also becoming more efficient too. Online banking has become normality, and this is very different to how things were a few years ago. You can make online payments easier than ever before and sometimes you can even transfer money to another device with the click of a button. Splitting bills can be done with apps too. The biggest way that tech has changed the Finance industry is through cryptocurrency. When you invest in cryptocurrency you will soon find that you can buy any coin you want online and then hold the value of it. This has created a crypto bubble and it really has changed the way that investors treat their money. This is very interesting to say the least and when you look at how everything has come together you will soon see that the finance industry is quite possibly the most impacted industry in the world in terms of tech.
AI is Changing Almost Every Industry
Every industry is evolving to the AI revolution. They are using artificial intelligence to deliver a better customer experience and higher quality products and services.