Artificial intelligence or AI is the ability of a program or system to learn from experience and think. Over the past few years, AI applications have undergone tremendous change, entering almost every industry and business sector.
The launch of ChatGPT in late 2022 dramatically transformed the world of marketers and business owners alike. Some feared their jobs would become obsolete, while others saw the AI chatbot as a powerful tool to get more work done faster and more efficiently.
But AI encompasses much more than just ChatGPT. For those eager to learn more about it, we asked our technology experts to provide some exciting examples of artificial intelligence in action.
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The Impact of Artificial Intelligence
Artificial intelligence and AI companies are revolutionizing virtually every industry, especially in the past few years thanks to the more mainstream recognition of ChatGPT and autonomous vehicles.
We’ve gathered some striking facts that highlight the jaw-dropping impact of AI in today’s world:
- The market size of the industry is expected to have an annual compound growth rate of 28.46% between 2024 – 2030 and reach a market volume of $826.70 billion by 2030.
- According to McKinsey & Company research, AI has the potential to add $2.6 to $4.4 trillion in value across the 63 use cases it analyzed.
- PwC’s Emerging Technology Report from 2023 states that around 73% of US companies are using some form of AI in at least one aspect of their business, and just over half of the survey respondents (51%) said that AI helps them to make more precise decisions faster.
- According to the World Economic Forum’s 2023 Future of Jobs report, organizations today estimate that around 34% of business-related tasks are carried out by AI software.
- 80% of Fortune 500 companies adapted ChatGPT within nine months of its release, while other data suggests that 46% of US companies, on average, saved between $25,000 to $75,000 since the introduction of the software within the first four months of its launch.
- Last year, 37% of US-based marketers and advertisers used AI for work.
- Experts believe that AI could drive a 7% growth in global GDP and increase productivity growth by 1.5% in ten years.
10 Examples of Artificial Intelligence
With an already massive market and even bigger potential, artificial intelligence seems to be the driving force of the future. We showcase its multitude of use cases below.
1. AI in eCommerce
Online retail has always been driven by innovation and eCommerce businesses have leveraged AI technology since its first iterations became available online.
Personalized Shopping
AI creates personalized recommendations which tend to appear under an article you are viewing. The recommendations are based on your interests, preferences, and browsing history. As you revisit the site more often, you’ll notice that these recommendations are becoming more and more relevant, as AI uses machine learning to fine-tune its algorithms.
Chatbots or Virtual Shopping Assistants
Chatbots have also been around for a while now. They also serve to improve the shopping experience of online users and help boost the efficiency of customer service. Chatbots use natural language processing to make interactions with customers as personal and human as possible, in real-time.
Chatbots can also make product recommendations, help users navigate through a platform, answer common customer queries, and dispatch site visitors to customer representatives if their issues are more serious.
2. AI in Healthcare
There are plenty of artificial intelligence examples in healthcare too. The sector uses sophisticated machines for robotic surgery, which help enhance surgical capabilities, promote safety, and automate specific surgical tasks.
AI can also be an invaluable diagnostics tool. Algorithms can analyze a vast number of medical images like ultrasounds, X-rays, DXA, and CT scans quickly, helping medical experts identify issues and establish a more accurate diagnosis.
AI is used to analyze specific conditions with the aid of medical and historic data with the goal of discovering new therapies and drugs.
3. AI in the Automotive Industry
Automotive is another industry that has also always been at the forefront of innovation and is responsible for a number of inventions that we take for granted today. Naturally, an industry with such a history is also heavily experimenting with AI to optimize production and to make the driving experience better for us.
Car Manufacturing
Machine learning and AI can help the entire production process in car manufacturing, allowing companies to build smarter factories to reduce costs and boost productivity. The technology can be used in several stages of the manufacturing process, including design, assembly, robotics utilization, supply chain optimization, and post-production updates.
Driver and Passenger Experiences
Artificial intelligence can also make the driving experience more seamless and significantly safer. Good examples of AI in cars include adaptive cruise control, lane keeping, smart air suspension, AI-driven virtual displays, and other features that can enhance both the driver’s and the passengers’ experience.
Self-Driving Cars
Car manufacturers have been experimenting with autonomous vehicles for some time and even though self-driving cars are still a thing of the future, brands like Tesla are leading the charge, using proprietary AI systems that use AI -backed GPS, control signals, cloud services vehicle cameras, and built-in radars to operate the vehicle without the constant need for human assistance.
4. AI in Education
Artificial intelligence is starting to become increasingly popular in the field of education too, although the transition has been slower. AI can help increase faculty productivity and can free professors from administrative work, allowing them to concentrate on their students.
AI and Administrative Tasks
AI can take over non-educational, repetitive duties, like paperwork, messaging students, arranging guardian and parent interactions, enrollment, feedback, and course management, as well as various HR-related tasks.
Personalized Learning
Artificial intelligence can also help hyper-personalize the learning process for each student. AI-powered software can be used to examine student habits, personal data, marks, study guides, class frequencies, etc., to generate an individualized plan that meets their specific needs.
Voice Assistants
AI voice assistants can give students access to extra learning materials, even without the direct involvement of teachers. Assistants can also provide quick answers to common questions thus speeding up the learning process.
5. AI in Agriculture
A good example of artificial intelligence in agriculture is crop smart-spraying, which establishes soil health, using driverless tractors, leveraging data to make financial and farming process decisions to maximize yield and farm performance, while keeping costs low.
6. AI in Robotics
Equipping robots with AI is becoming increasingly widespread, as it allows them to make decisions autonomously and in real-time.
Industrial Robotics
As established earlier, AI is transforming the manufacturing process. Collaborative robots or cobots can work together with humans safely and perform various tasks — from welding and assembly to quality control.
Warehouse Automation
Companies such as Amazon have been using AI robotics to aid with warehousing operations and logistics for quiet some time. These robots can take care of several tasks in fulfillment centers, including sorting, order picking, and inventory management.
Personal Robotics
Ai-powered robots can also be household assistants that take care of entertainment, chores, and even offer companionship. Roomba vacuum cleaners use artificial intelligence to clean floors by themselves and to navigate rooms.
7. AI in Marketing
If you are a marketer, then you probably know everything about the effects artificial intelligence has had on the sector. Nevertheless, here are a few applications that have changed the world of marketing.
Personalized Advertising
AI can help marketers create personalized marketing campaigns with the help of behavioral analytics and pattern recognition. The technology is useful for audience retargeting at desired times to reduce potential annoyance and distrust with a brand.
Content and Email Marketing
Solutions such as ChatGPT and services like Mailchimp’s email automation can help both with generating content at scale and automating newsletter campaigns without having to repeat manual tasks. Some solutions also enable marketers to create workflows that optimize the entire customer journey.
Analytics
Marketing can’t be effective without knowing what resonates with users. Analytics plays a critical role in catering to customer needs, and AI has become a crucial player in helping marketers make data-driven decisions with more precision and accuracy.
8. AI in Finance
Data suggests that almost 80% of banks were aware of the potential of AI back in 2022. Today, 43% of survey respondents in the financial sector say that they have already managed to boost operational effectiveness with the help of AI technology.
Artificial intelligence can have a great impact on corporate, personal, and consumer finance, as well as a wide range of other services. A good example of artificial intelligence in finance is fraud detection, as the technology can identify specific red flags like unusual transaction patterns, saving both individuals and businesses from suffering significant losses.
AI may also help with loan assessment, predicting the borrower's likelihood of repaying the loan by analyzing different data points that traditional scoring models don’t consider. Or it can also take care of task automation in accounting, like invoice processing and data entry, which can streamline operations, minimize the risk of errors, and free up staff time.
9. AI in Transport and Travel
AI is also helping humanity reshape transportation. For example, innovative ideas like truck platooning could optimize safety and efficiency. The process involves several automated or semi-automated trucks, semi-trucks, vans, or buses traveling in formation, which can reduce aerodynamic drag, thus cutting truck operating costs and energy use.
Another great example of artificial intelligence in transport is Alibaba’s City Brain initiative. It uses the internet to gather urban data in specific places to perform real-time city analysis, enabling people to improve social governance, allocate human resources, improve urban infrastructure, and help with sustainable urban development.
AI can also be used to optimize routes, which can help reach emission targets, speed up delivery, or like in the case of Uber, reduce user costs.
10. AI in Data Security
AI has become a key aspect in data security too as it can help safeguard sensitive information in various ways.
Aa cyber attacks are getting more sophisticated, AI technology becomes increasingly important to identify unknown flaws, threats, signal, prevent attacks, and respond to sudden data breaches. AI can help identify abnormal behavior within a system, with the capability of detecting unauthorized access, and data overflow.
Artificial intelligence also uses machine learning to become smarter and more effective, learning to differentiate between possible false alarms and genuine threats. The technology can also be used to automate tasks related to monitoring, threat evaluation, reducing the risk of human error, and freeing up more of the security experts’ time to focus less on maintenance and emulation and more on innovation.
Artificial Intelligence Examples Takeaways
From generating short emails to self-driving cars and smart cities, artificial intelligence is truly a game-changer in virtually every industry and aspect of our lives. However, the road to fully adapting the technology will be long, as we’re still in the early stages of harnessing its potential.
Despite the criticism surrounding AI, for now, it’s perceived as an incredible opportunity to make the world a more efficient and comfortable place.
Artificial Intelligence Examples FAQs
When will cars be fully self-driving?
According to some expert predictions from the automotive industry, manufacturers probably won’t be able to develop fully autonomous cars until 2035.
How many jobs will AI replace?
According to the World Economic Forum, AI may replace a total of 85 million jobs by 2025 alone, while experts from PwC suggest that nearly 30% of all jobs can be automated by 2030.
How is AI Impacting healthcare?
AI has already made its way into healthcare, helping create personalized patient care plans and treatments. The technology can also assist in surgical procedures, enhance diagnostic accuracy, and can help with predicting medical outcomes.
