Applications of artificial intelligence: its impact on different sectors

18 de April de 2023

Artificial intelligence has revolutionized many aspects of everyday life and transformed the way businesses operate. From fraud detection to process optimization, AI has proven to be a valuable tool for multiple industries.

In this article, we will discover AI applications and use cases in different industries.

What does artificial intelligence bring to different industries?

As we mentioned in the article on AI in the retail sector, the retail sector has experienced significant benefits thanks to this technology, which has led to improved efficiency in multiple processes, but it is not the only sector to benefit from this innovative technology.

The simulation of human intelligence processes by machines has become a valuable tool in the professional sector. Thanks to machine learning, when a computer system registers an error, they make sure not to repeat it. In other words, they learn from their mistakes and devise the fastest and most efficient strategies for each task.

Some of the most outstanding applications of this technology are mentioned below.

Process automation

Artificial intelligence has become a valuable tool for companies, as it allows them to automate processes that were previously performed manually and repetitively. By using intelligent machines, tasks can be performed in less time and with fewer resources, improving efficiency and reducing costs.

Data analysis

AI algorithms can analyze large amounts of data and detect patterns that would be impossible for humans to identify. In this way, decisions can be made based on more accurate data in real time.

Supporting the human team

Artificial intelligence can be a very useful tool for the employee, providing support for specific tasks. Through an analysis of the environment, AI can provide valuable information. For example, in direct dealings with customers, this technology has the ability to analyze different profiles and make recommendations or proposals to workers based on the results obtained.

AI in action: real cases of its application in different sectors

As we have mentioned, the applications of artificial intelligence are many across different sectors of activity. Below, we will show some cases.

Healthcare sector

In healthcare, AI has enormous potential to improve the quality of life of patients and optimize processes and resource management. Machine learning is a technique used to process huge amounts of data quickly and efficiently, being able to learn from them. It also enables the development of solutions that help to detect diseases early, improve diagnosis and treatment, and monitor the condition of chronic patients.

The incorporation of technologies such as voice recognition and virtual assistants can make information gathering and recording more efficient, reducing the time healthcare professionals spend on administrative tasks and increasing the time they can devote to direct patient care.

Researchers at Cedars-Sinai have developed an artificial intelligence tool that can predict who will develop pancreatic cancer based on how their computed tomography (CT) images look years before they are diagnosed with the disease.

The tool was able to detect early signs of pancreatic cancer in CT images with 86% accuracy. The researchers hope that this tool will help detect pancreatic cancer early, which would increase survival rates. They are currently collecting data from thousands of patients to continue studying the predictive ability of the AI tool.

Banking sector

Artificial intelligence is playing an increasingly important role in the banking sector, from fraud detection to personalizing banking services and automating internal processes. Banks are using AI to analyze large amounts of data, identify patterns and make decisions based on those patterns. AI-powered chatbots and virtual assistants are also being used to provide around-the-clock customer service.

Financial institutions, both traditional and fintech, are increasingly using artificial intelligence applications in their services. This technology enables more informed and faster decisions. In addition to being objective and reducing bias in decision-making, it helps identify suspicious spending patterns and prevent credit card fraud. It also improves stock market predictability for higher investment returns.

“Credit scoring” is an example of how artificial intelligence is being applied in the financial sector. BBVA is one of the many financial institutions that opt for this tool. It is a system that analyzes various objective and statistical parameters to evaluate a person’s ability to pay, based on his or her loan and payment history, income level, assets, employment, age, among others.

The result of credit scoring determines the probability that the applicant will repay the loan. It also serves as a weighting factor for the bank to decide whether or not to grant the loan, the associated interest rate and the required payment guarantees.

Education sector

Education and artificial intelligence are becoming increasingly integrated, enabling the automation and simplification of learning processes. Among the applications of artificial intelligence in education are the virtual teacher, continuous teacher training or the adaptation of learning to the student, among others.

However, although AI has the potential to improve education, it also presents some challenges, such as training teachers in the use of this technology. It is important to keep in mind that these educational tools are used to provide value and support to teachers and tutors, not to take their place.

In France, the Ministry of National Education and Youth has launched an artificial intelligence assistant called “Mathia” that helps teachers track their students’ progress in mathematics and offer more personalized classes. It is the French ministry’s first public procurement in AI.

Mathia uses an interactive educational experience in which students solve exercises and puzzles both individually and in groups. In addition, it offers a 2D and 3D holographic representation to visualize mathematical concepts. Students’ results and evolution are aggregated in real time by the AI and adapted to any device in the classroom.

Automotive sector

Artificial intelligence is being used in the design of high-quality automobiles, and is expected to become a common tool in design in less than two years. However, human creativity remains unique and unrepeatable, and AI has limitations in terms of interpreting technical constraints.

Despite this, AI will be key to innovation in the automotive industry, helping manufacturers develop new business avenues and offer relevant services to end customers. Artificial intelligence can be applied in several key environments, from the integration of this technology in vehicles to improve safety, to intelligence applied to production to optimize efficiency, productivity and sustainability in vehicle factories. Among the brands that have been pioneers in investing in this technology are Tesla, BMW and Toyota.

Goggo Network and Mobileye have announced a partnership to deploy up to 40 autonomous delivery vehicles in Madrid, Zaragoza, Malaga, Barcelona and Paris. These vehicles will have a driver at the beginning to make quick decisions if the system is not capable, but are expected to operate without a driver after 2023.

The technology used is Mobileye Drive, a set of cameras that detect objects and send information to a giant tablet on the dashboard. In addition, these vehicles will have level 4 autonomy, which means they can operate without human intervention in controlled environments.

In short, artificial intelligence has proven to be a valuable tool in multiple sectors, improving the efficiency and accuracy of business processes. As this technology continues to advance, it is exciting to think of the new ways it can be applied to improve everyday life and the business world.

Want to take your business to the next level?

With our measurable and effective approach, the result of more than 20 years of experience, we help you boost the value of your business and improve your competitive position. Thanks to our projects and initiatives, we are able to implement differentiated commercial actions and outstanding customer programs. Find out how we can help you make smart decisions and achieve success in your industry.