As we collectively produce more data, which, according to IDC will amount to 175 zettabytes by 2025, we need a way to sort through all of this information in real-time to make sense of it.
That’s where artificial intelligence comes in to transform the world of business in a major way. Around 37% of large business organizations have already implemented AI in some form and the adoption rate continues to grow year over year. Here are just some of the industries where AI will have the biggest impact.
The Healthcare Industry
The day-to-day operations of healthcare centers are disjointed, to say the least. There is no centralized system where all of the health data is stored and this often results in substandard levels of service and many extra costs. All of this makes the healthcare market a prime candidate for AI-enabled disruption.
First off, empowered by this new technology, organizations will be able to deploy predictive healthcare on a large scale. With the help of increasingly more sophisticated wearable devices and IoT systems, AI will be able to parse through large amounts of healthcare data in real-time to offer accurate diagnosis even before a patient steps into doctor’s office. Apart from that, AI will become a useful tool for near-instant image recognition, analyzing multiple scans to spot patterns and offer targeted suggestions for treatment.
The Online Casino Industry
The iGaming market, consisting of online casinos, online poker and sports betting, is expanding rapidly, but there were always a few factors that stood in the way of even higher profitability. Issues with security, along with the inability to maximize the effectiveness of marketing campaigns have held the industry back for a while.
However, this is all due to change as iGaming companies start to adopt new technological solutions in their day-to-day operations. For example, artificial intelligence and big data analytics will make it easier than ever for well-established online casino game providers to calculate the exact average lifetime value of a customer, which will have vast implications for data-driven marketing departments.
It will also be easier than ever to keep track of individual users to prevent them from taking advantage of attractive bonus offers more than once. At the same time, it will become possible to maximize the value of loyalty programs and automatically come up with profitable offers based on user’s past behavior.
Retail and E-Commerce Industry
Quite soon, we will say goodbye to customer service departments, like chatbots, and even advanced AI-enabled voice assistants will answer all of our pressing questions; no need to stay on the line for 20 minutes to get help, thank you very much.
Not only will these automated helpers give us the information we need, but they’ll also collect data that will be analyzed in real-time to come up with new marketing insights, spot emerging trends, suggest upsell offers to maximize the value of each transaction, and basically revive the world of online business.
Furthermore, AI will transform the logistical part of retail. By using sensors, robots will navigate enormous delivery centers to find an optimal delivery path. And once a package lands in a truck, the new technology will help to further speed up the shipment, which brings us to the next point.
Transportation and Logistics
The world of logistics is all about squeezing out the most of each freight. So far, this has been accomplished by carefully planning transportation routes to minimize overhead costs.
But when lots of hard to analyze data are involved, AI is sure to become a disruptive force. Highly accurate logistical systems will use predictive analytics to gauge exactly how much inventory will be required for each client, and in turn, cut the warehousing costs dramatically. You can imagine it as the “just in time” strategy but on steroids.
Apart from optimized delivery systems, AI is set to revolutionize the world of transportation in general. Autonomous trucks will cover vast distances to deliver goods to storage facilities, and self-driving cars will soon eliminate human error from the equation, saving tens of thousands of lives each year by avoiding accidents. And all of this is just a beginning in a world where AI will impact nearly every facet of our lives.
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