How is AI being used today?
While many types of businesses are using AI to improve a wide range of processes in a variety of different settings, banking, retail, and healthcare offer good examples of how AI can be used.
Many online retailers use AI to offer personalized shopping recommendations. These recommendation algorithms analyze data on previous clicks and purchases.
The more recommendations are tailored to your personal tastes… the more you end up buying.
With a huge number of transactions flowing through the global financial system each day, banks are increasingly relying on machine learning and AI to automatically detect fraud.
Working in real-time, AI helps banks to block dodgy transactions before they happen. This is key as stolen money can be difficult to track down and get back once it has left the victim’s account.
Artificial intelligence is also transforming healthcare.
By giving medical professionals accurate data and insights, they can work faster while providing high-quality care to more patients. It also helps doctors make better treatment decisions and diagnose patients with increased speed and accuracy.
AI can help to encourage healthy living by coaching people on actions they can take to improve their health. For example, a smartwatch may learn an individual’s behavior patterns and send well-timed notifications to start exercising if it notices they’ve been sitting still for too long.