Applications of Artificial Intelligence Across Various Industries

Key takeaways

• Potential applications of artificial intelligence continue to expand as more people adopt the technology
• AI usage is particularly prominent in finance, digital spaces (like social media, ecommerce, and e-marketing) and even healthcare
• For investors who want to put AI to work for them, Q.ai’s AI-backed Investment Kits could be just the thing

With the recent release of ChatGPT, AI-inspired modern art and the infusion of Elon Musk…everywhere, it’s no surprise that AI continues to dominate the discourse.

As the use cases for artificial intelligence grow, it’s inevitable that we’ll discover more ways it can improve our lives. And the space has plenty of oomph: The global AI software market is expected to reach $22.6 billion by 2025.

With AI’s popularity on the rise, we thought we’d explore a few especially promising applications of artificial intelligence.

What is AI?

AI, or artificial intelligence, is a complex topic with many layers. At its core, a “true” AI is a machine that can simulate human intelligence, behaviors and even emotions.

While no machine has reached that level, modern AIs can complete moderately complex tasks like:

• Solving problems and making decisions using data inputs
• Recognizing and interpreting visual information
• Recognizing, interpreting and responding to written and verbal language

In other words, artificial intelligence is software that’s programmed to “think” intelligently. Typically, AI models are trained using enormous amounts of information that help it “learn.” Advanced AIs can then process new data and draw unique, intelligent conclusions based on the presented information.

Modern applications of artificial intelligence

Artificial intelligence is a rapidly-growing field that has sprawled into dozens of industries. Companies and individuals use AI to perform repetitive tasks, analyze information and optimize other programs. From Google’sGOOG
algorithms to self-driving cars to Amazon’sAMZN
Alexa, you’ve likely interacted with at least one AI in your life.

Here are just some of the applications of artificial intelligence contributing to our technological advancement.

Chatbots

The release of ChatGPT gave the world a taste of what future chatbots could look like. ChatGPT interacts with users in a conversational way to answer questions and even challenge certain ideas.

But ChatGPT is an advanced, experimental iteration of a previous technology: AI chatbots. Thousands of companies have adopted AI-based chatbots to provide 24/7 customer support and resolve quick issues. As AI continues to evolve, it’s likely that chatbots’ language processing will grow more sophisticated.

Agriculture

Perhaps surprisingly, AI has also risen to prominence in agriculture. Computer vision and machine learning have produced apps that can identify soil deficiencies and provide planting recommendations.

AI also informs “precision agriculture,” whereby farmers use AI to:

• Analyze weather patterns to predict forecasts and planting schedules
• Determine the best crops to grow
• Address pest attacks
• Measure soil conductivity and pH

Plus, the combination of AI and robotics helps farmers harvest crops faster and more efficiently than human laborers.

Ecommerce

The ecommerce industry has capitalized on AI in a major way. Companies use AI to predict trends, analyze performance, assist with inventory management and more.

AI’s ability to track usage patterns and verify information has also made it a powerful tool in the fight against credit card fraud and fake online reviews.

Further, AI forms the basis of “recommendation engines” that show shoppers products based on their browsing history and preferences. And of course, virtual assistants and chatbots show up here, too.

Education

While education is still dominated by human personnel, artificial intelligence helps boost educators’ potential. Often, AI is used to facilitate automation in repetitive and data-heavy tasks, like:

• Grading homework
• Scheduling meetings
• Managing multiple online courses at once
• Sending personalized communications to students
• Creating or digitizing lectures and study guides

Yet again, chatbot-style AIs pop up – this time, to quickly answer routine questions and allow educators to spend more time on complex tasks.

Finance

The field of finance has leaned heavily into the use of AI at every level.

Customers can take advantage of AI to get information about their banking and investment accounts.

Banks and credit card firms rely on AI to detect changes in transaction patterns to catch fraud in action.

Lenders use artificial intelligence to predict and assess borrowers’ risk levels and make lending decisions.

Venture capital firms adopt AI to generate customized insights and financial risk management decisions.

And of course, robo-advisors and financial management services have leaned into AI to automate trading.

Healthcare

As artificial intelligence has grown more accurate, it’s made its debut in the medical field as well. On the less interesting side, AI helps administrators process data, schedule meetings, organize files and transcribe medical notes.

For more eye-popping illustrations of applications of artificial intelligence, consider how robots rely on AI to automate surgeries. Machine-led surgeries are more precise and less invasive, have a smaller margin for error and can run 24/7.

AI can assist in medical diagnoses by tracking health using wearable devices and indicating problems before patients are aware. Some programs have also adopted AI to help interpret body scans (like MRIs) to detect harmful growths with greater speed and accuracy.

Pharmaceutical companies even use AIs to analyze historical and modern data to discover new potential drugs.

Marketing

Another common application of artificial intelligence can be found in companies’ marketing teams. AI’s ability to quickly analyze data is useful for teams that need to quickly generate and act on insights. AI is used to:

• Generate campaign reports
• Improve customer engagement
• Personalize messages
• Deliver online retargeting campaigns
• Pivot advertising methodology mid-campaign based on new insights

Chatbots also fall into this category, as language processing plays a key role in analyzing and producing marketing campaigns.

Editing programs like Grammarly also make the cut, as AI can analyze grammar, vocabulary and sentence construction to keep brands on-message.

Social media

Social media makes another excellent use case for artificial intelligence. Firms like Meta and Twitter use AI to analyze massive amounts of data and generate actionable insights. Many companies also use AI to cultivate their social media brand.

In particular, AI can:

• Track user behavior to inform marketing and advertisement tactics
• Monitor comments to suggest new posts and accounts to follow
• Determine what’s currently trending
• Help generate targeted content based on demographic and behavioral data
• Combat cyberbullying and harmful or illegal content

In-home applications of artificial intelligence

Consumers also make frequent use of artificial intelligence.

Aside from testing out ChatGPT, you can find artificial intelligence in the automated driving programs used by Tesla, Audi, Volvo and others.

And whether you knew it or not, your email account likely uses AI to filter out spam and illicit content.

Your smart devices also use AI for facial recognition programs that log into devices and authenticate transactions.

Domestic robots, such as automated vacuums and lawn mowers, may also rely on AI to avoid obstacles and learn the best season or time of day to work.

And of course, Siri, Amazon Alexa and Google Assistance, as well as a variety of advanced home security systems, rely on artificial intelligence.

Don’t forget about AI in investing

We already mentioned that a major application of artificial intelligence is helping investors automate their accounts and make smarter decisions.

Here at Q.ai, we put that theory into practice.

Our Investment Kits rely on AI data analysis to select, balance and rebalance investments and manage risk between each Kit in your portfolio.

And for investors who activate Portfolio Protection, our AI works even harder to adjust for potential risks based on predictions about future market behavior.

With Q.ai’s artificial intelligence, you can invest smarter, not harder – and enjoy the financial rewards that come your way.

Download Q.ai today for access to AI-powered investment strategies.