How AI Industry is Pulling Millions of Dollars

 Introduction


Do you want to know the secret behind how AI industry is pulling billions of dollars? Innovation centers, startup companies, incubation labs in MNC’s already have started using Artificial Intelligence, Machine Learning, IoT, and Data Science to solve the complex business problems in healthcare, production, energy, and almost everywhere. From streets to malls we can see that IoT, AI are being used. Starting from doors of malls to elevators that sense human activity and automatically start working. In this article, we are going to have a deeper look at the AI industry, AI platforms, AI in healthcare, artificial intelligence companies, and the advantages of artificial intelligence.

AI Industry / AI Companies
Core technologies like AI, deep learning, machine learning, natural language processing, image recognition, speech recognition have spread their arms in agriculture, education, medical, manufacturing, automotive, diagnostics, retails, media, and multiple industries. Human-computer interaction technologies like robotic, emotion recognition, gestural computing, and augmented reality are highly in demand for these industries. Most of the offices, security services are now using AI and IoT. We can consider AI as an umbrella that holds IoT, Pervasive Computing, Machine Learning, Data Science, Cognitive analytics, Deep Learning, and Natural Language Processing under a single roof. Because of its high demand in every industry AI is pulling billions of dollars these days.

AI Platforms
To use the functionality provided by AI industries use some platforms. Typically for the tasks which need to be automated (previously done by human beings but now machines are doing the task on behalf of human) involves systems or machines to perform the repetitive or complex task. For this various platforms are used. Basic functionalities provided by AI platforms are applying automating processes, using cognitive functionalities, mathematical optimization, and using cloud infrastructure. Following are some AI platforms: Microsoft Azure, Google AI platform, TensorFlow, Dialogflow, Meya, Watson Studio, Rainbird, Infosys Nia, MindMeld, Wipro HOLMES, etc.

Applications of AI
AI in healthcare
Due to cognitive analytics, it becomes very easy to recognize human emotions. It is an important part of diagnosing disease. Because of data science techniques and machine learning algorithms we can easily predict things. The same things are applied in the healthcare industry. The main role of AI in healthcare is detecting any disease at an early stage, fast decision making, help in treatment, provide expanded medical services, provide associated care, and checking health through the wearable.

AI in social media
Social media is widely being used across the world. The role of AI in social media is to give search suggestions, provide recommendation posts, showing job recommendations, removing unnecessary hateful accounts, providing image cropping tools, deep learning, natural language processing, cognitive analysis, and face recognition, etc.

AI in education
This has become a very important part these days. The role of AI in education is to provide personalized learning, to provide voice assistance, breaking barriers of languages, and provide smart content, etc.

AI in Military
For security purposes, AI is highly in demand in the military. Some AI applications used in the military are drones, entering in the hazardous zone, secret communication, combat role, training, and Para dropping.

AI in agriculture
In agriculture, AI is used for analyzing satellite images, in-field monitoring, assessing soil health, predictive analysis, and agricultural robots.

AI in marketing
In marketing, AI is used for online advertising, personalized user experience, AI-powered Chatbot, web designing, content generation, voice search optimization, e-commerce, and email marketing campaigns.

Advantages of Artificial Intelligence


Following are some advantages of using AI

1.It reduces the cost of training and operation
2.It increases the efficiency and productivity
3.It reduces errors
4.It provides digital assistance
5.Cost reduction
6.Improved quality
7.Provide improved interfaces
8.Information handling
9.Solving complex business problems
10.Availability
11.Accurate Decision making
12.No breaks


Summary
In this article, we discussed Artificial Intelligence, the AI industry, AI platforms, AI applications, and AI advantages. Innovation centers, startup companies, incubation labs in MNC’s already have started using Artificial Intelligence, Machine Learning, IoT, and Data Science to solve the complex business problems in healthcare, production, energy, and almost everywhere. AI has become the highest paying job because of its need in day-to-day life. We hope you enjoyed the article. If you have any related queries, feel free to ask in the comment section below.

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