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As artificial intelligence (AI) continues to evolve and grow, so does how it applies in various industries. In this article – we will discuss the top 10 Applied AI industries for 2022-2025 and how AI will impact these industries.
We will also discuss the key players in Applied AI and the prospects. So if you’re interested in learning more about Applied AI and its implications for the future, read on!
Table of contents
What is Applied AI?
Applied Artificial Intelligence is a broad term to using AI in a specific application area. The most common application areas for Applied AI include banking, healthcare, marketing, and legal research.
Applied AI is a rapidly-growing field that has an impact on a variety of industries. Combining Machine Learning (ML), AI is inching closer to perfecting its ability to automate many tasks. It includes tasks such as data analysis, natural language processing (NLP), pattern recognition, and more.
Some of the most commonly-used Applied AI tools include machine learning algorithms (such as deep learning and data science), artificial intelligence software solutions, big data analytics platforms, natural language understanding services (text analytics), predictive modeling engines, etc.
In a nutshell: Applied AI helps businesses automate routine processes or tackle complex problems using machine learning techniques and artificial intelligence software development solutions. The world of computer science with Applied AI and IoT will grow with many use cases. These datasets will support machine learning algorithms that can create intelligent applications in the real world with risk management.
How is Applied AI impacting industries?
Applied AI and robotics modules embodies the future of business models. Tech is already having a massive impact on many industries, and this trend will continue. By embracing applied AI now, you can maintain a competitive edge and see many benefits, including increased efficiency and cost savings.
Some industries with the highest impact include healthcare, transportation, finance, retail, and manufacturing. As businesses embrace applied AI, the way they operate is changing rapidly. It is a trend that will continue, and it’s essential to stay ahead of the curve to ensure a successful future.
The apps of Applied AI in these industries are helping to make them more efficient and able to meet the needs of their customers better.
For example, healthcare benefits from Applied AI via predictive models that can help doctors diagnose diseases and prescribe treatments more accurately.
In retail, digital marketing tools are helping to drive down costs while also increasing sales volumes. Also, transportation benefits from Applied AI technologies to help drivers stay safe and avoid accidents.
Predictive modeling engines are in use in a wide range of industries, including finance and retail. Predictive modeling is a machine learning technique that can help predict future events. These models are often used to improve the accuracy of financial forecasts or customer service recommendations.
Applied AI has also had a massive impact on gaming, with companies like DeepMind using machine learning algorithms to develop artificial intelligence that rivals human intelligence in some games.
And manufacturing is seeing significant benefits from robots and other machines that can improve process efficiency and yield higher quality products.
Top 10 Applied AI industries to watch
2018 has been a big year for Applied AI, with big companies and startups making big announcements and investments. From $66 Billion in 2018 to $165 Billion in 2021 is quite a leap (Source: McKinsey). The use of AI across industries will increase soon, so it’s critical to stay up-to-date on what’s happening. Here are the top 10 industries to watch.
1. Information Technology and Electronics
Information technology and electronics are a big deal these days. Automated driving is already a reality, with the industry forecast to grow at a whopping 53.6% between 2022 to 2030. Meanwhile, natural language processing (NLP) is in play for various tasks such as customer support, fraud prevention, etc. Speech recognition technologies are also helping companies improve customer service by automating processes like greeting customers or issuing refunds automatically.
Future applications in the industry include,
2. Telecommunications
Telecommunications is a rapidly-growing industry that will experience a lot of advancements thanks to Applied AI. Automated customer service is an area of interest, with companies such as Google and Facebook already putting a lot of money into this field. Other focus areas include self-driving cars and machine learning algorithms that can improve network performance.
Future applications in the industry include,
3. Pharmaceuticals and Medical Products
The pharmaceuticals and medical products industry is one of the most promising sectors for Applied AI. It can accurately analyze drugs and customize them to meet the needs of each patient, leading to better outcomes. In addition, the automation of drug manufacturing will play a significant role in speeding up this process. Healthcare is one of the fastest-growing industries globally, so Applied AI will continue to thrive in the years to come.
Future applications in the industry include,
4. Aerospace and Defense
The aerospace and defense industry is a big player in Applied AI. With machine learning algorithms that can identify patterns, it’s a natural fit for this sector. Applied AI has deep-rooted into defense, making it a key component. Military applications of AI are already well-established, such as predictive analytics and machine learning for battlefield intelligence. There is a lot of potential in this area for Applied AI development in the future.
Future applications in the industry include,
5. Healthcare Systems and Services
The healthcare industry is ripe for innovation. With the use of AI for various purposes, from marketing and customer service to diagnostics and clinical trials, there is much potential for growth in this sector. AI can speed up processes dramatically, making it easier and quicker for patients to get quality care.
In addition, machine learning can help identify patterns in data that would otherwise be difficult or impossible to detect manually. It could lead to better diagnoses and more personalized treatment plans – two things that are a must in today’s healthcare system!
Future applications in the industry include,
6. Financial Services
The financial services industry will experience massive growth thanks to artificial intelligence. It will help improve customer service, reduce costs, and enhance the overall customer experience. Predictive analytics and machine learning will start making predictions about customer behavior or helping assess risk profiles specific to a customer’s situation. Automated financial planning will play a vital role in this sector.
Future applications in the industry include,
7. Retail and Consumer Packaged Goods
Retail will be the key driver for Applied AI in the coming years. As artificial intelligence (AI) permeates many areas of our lives, retail will experience enormous transformation. With a revenue of $1714.3 million in 2021, and is set to progress at a CAGR of 40.5% during 2021–2030.
This growth is due to several factors, including growing customer demand for “smart” products and services and the advancement of automation across various industries. There are many opportunities for businesses to get involved – from technology providers to retailers.
Future applications in the industry include,
8. Education
The education sector is one of the most promising frontiers for Applied AI. With a rising demand for skilled professionals, this technology will help students learn more efficiently and effectively. Apart from learning specific skills, Applied AI can also teach different subjects interestingly and engagingly.
Furthermore, it makes it much easier for students to retain information and increase their chances of finding employment after completing their degrees or courses.
Future applications in the industry include,
9. Aviation, Travel, and Logistics
In aviation, travel, and logistics, artificial intelligence plays a massive role in the future of these sectors. For example, in aviation, machine learning helps airlines automate the process of passenger screening. It helps reduce processing times and makes Air travel a lot more efficient.
In logistics – artificial intelligence optimizes supply chains by detecting and solving problems quickly. It can also identify potential risks early to eliminate them before they lead to financial losses.
Future applications in the industry include,
10. Agriculture
There are several potential applications for artificial intelligence in agriculture, from helping to improve crop yields to reducing input costs. By integrating Applied AI into existing processes, we can impact the industry as a whole. One of the key advantages of using artificial intelligence in this sector is that it can help us to improve our understanding of complex systems and identify hidden problems. It leads to better decision-making and improved outcomes for farmers and consumers alike.
Future applications in the industry include,
The key players in Applied AI
Applied AI is a quickly-growing industry that will revolutionize industries in the coming years. Here are the top companies that will be leading the charge – Google, Microsoft, IBM Watson, Nvidia, and Amazon. Each company has a different approach to Applied AI, and it’ll be fascinating to see which one emerges as the clear leader.
Google and Amazon are well-known for their artificial intelligence platforms, Alexa and Google Assistant. These services are currently the most widely used in Applied AI circles, with a big focus on customer service and automation. They’re also paving the way for future applications of AI by incorporating machine learning into their algorithms. In short, we can expect a lot of improvement in areas like speech recognition and natural language processing.
In India
There is an increase in new AI companies in India. And, Indian companies such as Tata Elxsi, Nextbillion AI, and Wysa are acqui-hiring artificial intelligence startups globally.
– These startups use machine learning and will build the world’s largest customer data platform to provide insights into customer behavior across channels.
– Companies such as Apollo Hospitals Group, Hero MotoCorp Ltd., and Paytm Mall use deep learning for image recognition and natural language processing.
In the next few years, it’ll be essential for these companies to stay ahead of the competition. It’ll be crucial for them to develop and implement innovative strategies to stay ahead of the curve.
What are the future implications of AppliedAI?
Looking into the future, it’s clear that Applied AI will impact industries. So, in the next few years, it will help to automate tasks and processes, save businesses time and money, and create new opportunities for companies that can adopt it early on.
E-commerce
With the rise of mobile apps and virtual assistants, the e-commerce industry uses Applied AI to enhance customer service. They analyze data to make better decisions about product development and facilitate automation of tasks like order processing.
Neural Network
Neural networks are a type of artificial intelligence in use for machine learning. And, they are often used to process data and learn from it, which can be very valuable in Applied AI. Neural networks are also becoming more powerful and accurate, which means they’re being used more in Applied AI applications such as speech recognition and natural language processing.
Frequently Asked Questions
By 2025, robots and machines will replace almost two-thirds of all current jobs. In this rapidly changing economy, businesses must embrace AI technology to survive. Moreover, some industries that will experience heavy impact include healthcare, banking, retail, and transportation. So, if you’re looking to stay ahead of the curve and have a career adaptable to rapid change, learn about AI technology.
Upskill opportunity
You must upskill your AI and ML technology knowledge to stay fresh in the market and explore new opportunities. Here is a list of training you can access from the comfort of your home.
CRM Salesforce for Beginners – Become an expert in CRM Salesforce by mastering concepts of CRM, its business implications and how Cloud computing is changing the way businesses use technology to engage with their customers.
Design Patterns Certification – Understand Design Patterns, to enhance your skills, aiming to be an efficient Software Architect and develop some highly scalable and maintainable applications.
Become an expert in Analytics for Retail Banks – Master the concepts of analytics lifecycle, data infrastructure, customer lifecycle, and digital trends while going through global retail banking case studies.
Mastering Git and GitHub – Master the concepts like Branches, Design and Git work flow by using Git Command Line, GitHub Desktop and SourceTree.
Certified Blockchain & Healthcare Professional – Master the art of building robust healthcare-based blockchain systems.
Become a Certified Blockchain Architect – Craft the guidelines and structure of the whole blockchain system.
Certified Blockchain & Law Professional – Gain an in-depth understanding of the Blockchain in legal processes.
Blockchain & Supply Chain Professional – Master the core concepts of implementing Blockchain in Supply Chain industry to solve large-scale problems.
Certified Blockchain & Finance Professional – Gain an in-depth understanding of the Blockchain technology in Finance.
Several promising applications of artificial intelligence could be of great help to people soon. Scheduling and billing is an application of AI currently in use in hospitals. And, with machine learning algorithms, AI can process and organize healthcare data more efficiently, reducing errors and improving patient outcomes.
Another application of artificial intelligence in retail is automated decision-making. With natural language processing and machine learning, artificial intelligence can help retailers make better customer service decisions based on customer feedback. It can improve customer satisfaction and boost sales.
Also, other applications of artificial intelligence that are promising so far include predictive maintenance for factories and social network data filtering. By using machine learning algorithms, artificial intelligence can help companies analyze large data sets to identify patterns and trends that may not be apparent to humans alone. It can help reduce defects or problems in products or services and improve customer service experience.
There are a few risks associated with Applied AI for business operations. The primary concern is the potential for misuse or cyberattack. However, there are also many benefits to Applied AI when it comes to improving business efficiency, making decisions faster, and reducing costs.
Additionally – data privacy breaches and inaccuracies can arise when Applied AI makes its way into a business. So, before applying Applied AI to your business, it is essential to assess all the risks and potential benefits to make an informed decision.
Conclusion
Applied AI is quickly changing how industries work, and this trend will continue in the coming years. So, by learning about the top 10 Applied AI industries and the key players, you can see how this technology will positively impact your industry. Stay up-to-date on all the latest developments in Applied AI by following our blog for email updates!
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