From self-driving cars to innovative chatbots, artificial intelligence (AI) is transforming the way we live, work, and do business.
The growing adoption of AI and machine learning has caused a major disruption in many industries and businesses. According to a 2017 PwC study, AI will result in the global economy growing 15% by 2030, adding a staggering $15 trillion to the global economy.
The reason AI is being adopted on such a large scale is due to its ability to bring intelligence to processes and tasks that previously didn’t have it.
From automating processes to providing greater personalization to users, AI has truly defined a new era for digitization across industries. But not every industry is reaping the benefits of AI. We’ll look into the 4 industries that are being impacted by AI-based technology in 2021.
1. Logistics
Artificial intelligence is rapidly changing the logistics industry through predictive analytics. These analytics can accurately predict the amount of inventory required by a vendor and ultimately reduce costs.
In the same vein, predictive analytics can also be used in supply chain management to cut costs. For supply chain and dispatch managers struggling with the complexity of managing routes, AI offers a simple, yet cost-effective solution for route optimization.
By analyzing huge amounts of data, AI provides insights that can be used to improve decision-making. For instance, analytics data from AI-powered devices installed on delivery trucks can be used for route planning and optimization. When analyzed, this data can provide accurate predictions in delivery time.
Additionally, by installing a smart truck GPS tracking device, fleet owners and dispatch managers are able to tell the whereabouts of the vehicle as well as analyze driving behavior—a key to improving driving safety.
2. Healthcare
The adoption of AI in the healthcare sector has brought in a lot of benefits. These new technologies can save lives, cut costs, and increase the efficiency of care.
With the rise of AI and IoT-enabled devices, medical practitioners can remotely monitor the health of their patients and stay informed in the event of emergencies. AI is also being used in hospitals worldwide to scan results through image recognition.
Since AI can scan multiple results faster than humans, the implementation of this technology enables doctors to spot and diagnose serious symptoms early, and with no delays.
3. Marketing
Artificial intelligence has transformed marketing so much that it’s being used in nearly every area of marketing. In fact, we encounter AI marketing every day.
Picture that personalized ad that pops up when you’re browsing websites like Amazon or when scrolling your newsfeed on Facebook. All these are applications of AI in marketing. Machine learning helps marketers:
- Create personalized ads
- Generate quality leads
- Improve the results of the sales funnel by providing personalized content
When used in marketing, AI analyzes a vast amount of data, then creates personalized content for millions of people. According to a recent Think With Google report, 89% of marketers said app and website personalization resulted in an increase in revenue.
4. Construction
The construction industry is slowly embracing digitization—a process that is set to disrupt traditional processes.
Artificial intelligence increases efficiency throughout the entire value chain—from planning and design to the production of building materials to the construction phase itself. Typical use cases for AI in construction include:
- Project planning
- Risk mitigation
- Enhancing safety
- Predictive maintenance
- Design modeling
Today, many startups are using AI technology to slingshot the construction industry into tomorrow. The adoption of AI and machine learning is making the construction processes safer, faster, and more cost-effective by reducing human error.
Wrapping Up
In the past few years, we’ve seen a steady rise in the adoption of AI. However, in 2021 artificial intelligence will become mainstream across industries. Other industries that will likely be heavily impacted by AI include education, automotive, and the financial sector.