The field of computer science known as artificial intelligence (AI) focuses on creating intelligent machines that can perform activities that normally require human intelligence.

Although artificial intelligence (AI) is a multifaceted field, recent developments in machine learning and deep learning have caused a paradigm change across the whole technology industry.

The powers of the human mind can be modeled and even improved upon by machines thanks to artificial intelligence and machine learning.

AI is becoming more and more prevalent in daily life, from the emergence of self-driving cars to the proliferation of smart assistants like Siri and Alexa.

As a result, numerous IT firms from various sectors are funding AI technologies.

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What is Artificial Intelligence?

Artificial intelligence is the simulation of intelligent, human-like processes by machines.

The applications for it are nearly limitless and the industry is growing fast. 

Really fast!

The AI market is forecast to grow from $419.7 million in 2014, to $5 billion by just 2020! Demand for AI specialists has never been greater, and top companies are competing for AI talent.

Industries Using AI Today

1. Finance

The use of AI in the financial services sector has many consumer benefits, from improving customer service to enhancing security. AI algorithms increase the speed and accuracy of credit applications, monitor your accounts for signs of fraud, and help manage your investments in the stock market.

2. Consumer Goods

AI is already in use in the gadgets you touch everyday. Think, for example, of the face detection on your smartphone, the smart speakers that answer your weather questions, and the home security cameras that send a text when your kids get home from school.

3. Transportation

Transportation has seen great leaps forward in the use of AI. There are autonomous vehicles that don’t require a human driver; smart traffic systems that can reduce congestion; and fleet optimization technology to improve the reliability of deliveries.

4. Healthcare

From algorithms that can examine different treatment alternatives and recommend the most effective cancer drugs, to helping identify medical issues in x-rays and CT scans—AI in healthcare has incredible applications.

5. Legal

AI is used to review lengthy legal contracts, draft legal documents, and provide a first screening of personal injury claims. AI bots have even been used to predict legal outcomes at the US Supreme Court, outperforming legal experts!

6. Agriculture

Major uses of AI in agriculture include applying computer vision and machine learning to monitor crop conditions, and using predictive analytics to forecast the impact of weather changes on crop yield.

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