Impact of Artificial Intelligence and Machine Learning on Various Industries

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ai and ml

Artificial Intelligence and Machine Learning are the two hottest terms in every industry in recent years. For many industries, innovation revolves around these two terminologies or technological advancements. AI is a broader concept that machines carry out various tasks in an efficient manner what people think “smart.” On the other hand, ML is an application of AI that gives machines access to data and makes them learn it themselves. Interestingly, the evolution of the internet and the amount of enormous digital data paved ways to the development of ML. Both technologies have helped various industries to shape themselves to innovate and sustain. Regardless of what change both the technologies added to industries in general, it is great to discuss the changes in specific sectors.

Healthcare

Both ML and AI are paving ways for widespread changes in the healthcare sector. Precision medicine is the latest trend in recent years, especially in deadly diseases such as cancer. The development of the medication is completely based on big data and machine learning. Clubbed with AI, it ensures the most efficient treatment method along with assured results.

AI and ML also make the DNA sequencing and historical medical data of a patient, including clinical and molecular data, capturing simple and technology-driven. It ultimately helps the physicians to perform proper diagnosis and offer a most-effective treatment regime. The technologies also added significant revolutions to medical research –especially in biotechnology – data analysis, communication, and more.

Transportation

Transportation is another complex sector that would harness the benefits of AI and ML. People already saw the starting of a revolution in the form of self-driving cars. According to a Business Insider report, there will have 10 million driverless cars on the roads by 2020 – thanks to Elon Musk and Tesla. Interestingly, it is due to Machine Learning as it is designed to analyze the data and respond to various needs using algorithms – the most important working principle of self-driving cars.

The technology would see more integration into the different vertical of transportation in the coming years. The technology can leverage public transportation, efficient utilization of transportation infrastructure, and more. It would reduce the accidents, minimize traffic congestion, ensure efficient use of energy, and more.

Branding

A large number of companies started leveraging in branding from both AI and ML in recent years. In every process of branding, there are several tools based on AI and ML to simplify the mission. It includes services ranging from everything from AI analysis tools to machine learning logo makers and more. While all these tools offer efficiency and productivity to the businesses, it also provides better value to the customers. Additionally, the businesses have better control of the entire branding process, and that translates into effective results.

The scope & importance of Artificial Intelligence can be calculated by the fact that almost all prominent universities and schools in our country (and overseas as well), are introducing an Artificial Intelligence course in their regular syllabus. Not only Universities and Schools but also, all online learning platforms whether it being Udemy.com or Upgrade or any other, new chapters and topics are continuously being added in Artificial Intelligence and Machine Learning courses. In some of the most expensive and profitable online premium courses, course author/ publishers/ designers suggest if you are a machine learning engineer or data scientist, this is the course to ask your manager, VP or CEO to take if you want them to understand what you can (and cannot!) do.

As per the latest updates, Artificial intelligence algorithm is helping users on matrimony sites to find a match not only based on their preferences but also by observing and understanding the user’s behavior and suggesting appropriate real-time profiles. Shaadi.com’s CTO (Chief Technical Officer), Siddharth Sharma told Press Trust Of India in a recent press release that “AI algorithm knows more about what you are looking for than you might be aware of yourself! This helps us find the best matches for our users — not just by searching according to preferences, but by observing user behavior and suggesting similar matches.”

While this is like just a drop in the ocean, Ai and Machine Learning, in the near future, are expected to step in each and every industry on planet earth, whether it is Search Engines, news distribution, smartphone operating systems, home cleansing tasks, infrastructure development, stock markets, studies, and the list continues. Artificial Intelligence has a prominent role in assisting us to understand our planet earth, solar system, and space. NASA’s scientists were acquainted with approximately 4,000 exoplanets till date. But, recently, A team of astronomers led by an undergraduate student in Texas has discovered two planets orbiting stars more than 1,200 light-years from Earth.

In one of the most populated countries like India, country’s largest educational board for secondary and higher secondary studies, i.e., CBSE (Central Board of Secondary Education) has taken a remarkable step in connection with Artificial Intelligence and Machine Learning. As per the latest reports, CBSE introduces syllabus for academic session 2019-20 and Artificial Intelligence as a new skill subject. CBSE has introduced Artificial Intelligence as a new subject in the curriculum for class 8th and 9th. Initially, expectations were there that changes might take place in the Syllabus of 11th and 12th standard as AI and Machine learning are completely alien subjects for school students.

But still, in the same manner, as a coin has two different sides, Artificial Intelligence mainly, not machine learning, has its disadvantages as well. Which further gives birth to the questions like – Is the Future Of Artificial Intelligence Tied To The Future Of Blockchain? Or, is Artificial Intelligence seriously taking over the jobs? One thing is for sure, Artificial Intelligence and machine learning algorithms will kill all the repetitive jobs.

Manufacturing

Both ML and AI have an extensive range of applicability in manufacturing industry from keeping supply chain to making products on-time. The machine learning algorithms ensure a greater level of analysis and predictive accuracy in each phase of production. Apart from ensuring efficiency in production, it improves the other key metrics of manufacturing as well. ML reduces the material consumption and lowers the wastage, improves preventive maintenance and MRO, enables condition monitoring processes, more relevant data to operations and finance, improving marketing and social media presence, and more.

Conclusion

Everyone should note that many AI and ML systems are creating iterative and intuitive algorithms that transform based on results. Also, the system has a designing of continues learning and comes with more optimized outcomes after regular intervals. Transporting and manufacturing sectors have shown this, and more industries are queuing for the optimized results. Yes! Both AI and ML are revolutionizing in various industries.

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