Sectors That Use Artificial Intelligence And What Solutions They Provide
Thanks to technology, today, it is possible to perform many tasks that we previously thought possible only in movies. Thinking of a time when cars fly, or robots speak almost the same language today is a reality for the sectors that use Artificial Intelligence.
By implementing this set of advanced technologies, companies can reinvent themselves and improve their work processes and systems, resulting in better levels of productivity and costs and generating new growth opportunities.
In business, Artificial Intelligence can be used as an ally in sales or improve operational processes’ performance. According to a Gartner study of AI adoption among enterprises, the number using it grew 270% in four years and tripled in 2018.
The Main Benefits That Technology Brings To Large Companies Are:
- Greater efficiency of processes and tasks (42%)
- Greater management efficiency (25%)
- Improvement inaccessibility to information (13%).
- Reduction of expenses (13%),
- Increase in profitability (12%)
- Best customer service (8%)
Sectors That Use Artificial Intelligence More Efficiently:
Among the sectors that use Artificial Intelligence are the marketing area, which has taken advantage of this technology to create personalized experiences.
The same happens for telecommunications companies, which have found Artificial Intelligence a great ally when it comes to meeting the individual needs of users. By applying this technology, it is possible to increase productivity and efficiency, improve the customer experience, identify preferences, design exclusive content and direct it to the people with the most excellent chance of generating a correct interaction.
The customer service area is another area that has benefited most from Artificial Intelligence because people have stopped feeling that an answering machine is serving them and now have conversations with intelligent virtual assistants who are more prepared to process personalized information and learn from users.
AI Banking Applications
In Mexico, 80% of banks use artificial intelligence to increase efficiency, as well as Big Data and Machine Learning to analyze and classify vast amounts of unstructured data, which leads to endless applications such as:
- Analysis of legal documents with greater precision.
- Management of large amounts of unstructured data.
- Prevention of fraud and money laundering.
- Personalized customer service.
- Robotic advice.
- Automated investment funds.
AI Retail Applications
By 2021, 70% of retailers will invest in the Internet of Things (IoT), and 57% will automate their processes to make different business areas more efficient and create more attractive products.
The retail sector has begun to apply AI in various areas to improve the shopping experience and create smarter stores by putting the consumer at the centre of their strategies.
Some of the applications that have already been implemented:
- Hyper-personalization of shopping experiences
- Logistics and inventory optimization
- Smart inventory creation and management
- Optimization of service and customer care
- Improvement in delivery times
AI Tourism Applications
Artificial intelligence applied to reservation management can help predict up to 85% of possible cancellations.
The Internet of Things and chatbots are two of the technologies that are having the most impact in recent years in the tourism industry.
- Improvement of customer service.
- Management and analysis of data and information.
- Personalized experiences.
- Smart tourist destinations.
- Virtual assistants.
- Virtual visits.
- Face recognition.
AI Health Applications
Over the past 3 years, more than 100 healthcare startups have used machine learning and AI, supporting everything from remote patient monitoring to drug discovery, diagnostic imaging, and more.
According to the one made by CB Insights, approximately 86% of healthcare provider organizations currently use AI somehow.
- More accurate and advanced diagnoses.
- Obtaining data related to the health of patients.
- Obtaining detailed data on diseases and their causes.
- Robotic surgery.
- Online and virtual medical assistants.
- Early disease detection
AI Human Resources Applications
Companies using AI in their human resources processes have increased up to 300% higher quality hires than their previous recruitment methods (Big Data Marketer). This impacts the time they spend, with HR managers on average saying they waste up to 14 hours a week manually completing tasks that could be automated.
Some of the things that are already being carried out in the HR offices are:
- Talent Acquisition.
- Task automation.
- Assessment of aptitudes and performance.
- Automated candidate categorization.
- Calculation of the probability of success.
- Safer and more reliable hiring decisions.
AI Transportation And Logistics Applications
The IoT, autonomous transport and logistics artificial intelligence (AI) are the three trends that will have the most significant impact on the future of the supply chain (DHL radar).
Those companies with a proactive strategy in Artificial Intelligence in the transport and logistics sector have a 5% higher margin than those who do not have such a strategy. (McKinsey)
- Prediction of consumption trends.
- Simplify the planning of routes and deliveries.
- Automate sales and movement of products.
- Management of freight transport fleets and intralogistics movements.
- Warehouse automation.
- Greater control in the supply chain.
AI Automotive Applications
Autonomous cars could become a reality in 2025. According to Nissan, this promises to increase the safety of drivers, passengers and pedestrians on our streets. Furthermore, it offers the possibility of a new form of freedom of mobility for people worldwide.
Meanwhile, AI is already being used to obtain:
- Greater technical precision.
- Smaller margin of error.
- Greater safety in case of accidents.
- Productivity increase.
AI Agriculture Applications
According to a report, the Artificial Intelligence associated with agriculture, valued at 519 million dollars in 2017, will grow at a CAGR (Compound Annual Growth Rate) of 22.5% to reach 2.6 billion dollars in 2025.
- Greater efficiency in processes.
- Reduction in consumption of natural resources.
- Crop and soil monitoring.
- Optimal knowledge for planting, irrigation, fertilization or harvesting processes.
- Predictive analysis.
AI Manufacturing Applications
According to Accenture, 98% of manufacturing organizations have begun to improve their product or service portfolios with the help of Artificial Intelligence, only 16% have established a holistic vision of this tool for their business. Only 5% are investing resources in AI-powered product initiatives.
The International Federation of Robotics predicted that by the end of 2019, there would be more than two million industrial robots working in factories around the world.
Although the Industry 4.0 revolution is still in its early stages, we already see significant benefits in the design process and the shop floor to the supply chain and administration.
- Promotion of product and service development.
- Improve the company’s operation.
- Improve the customer experience and service.
- Transformation of traditional commercial models.
- Enables new Industry strategies.
As you can see, this is just the tip of the iceberg. According to the study ‘The impact of artificial intelligence on the labor market in Mexico’, carried out by DuckerFrontier, if Artificial Intelligence is taken full advantage of in the country, the Mexican economy can grow an average of 6.4 percent per year between 2020 and 2030. However, industries are still exploring their potential, and their main challenge will be to advance as fast or at the same level as technology.
Also Read: The Future Of Artificial Intelligence