The Top 11 Real-Life Artificial Intelligence Applications (AI) You Must Be Aware Of
Every day, new applications for AI are being discovered. Data scientists and other IT professionals are exploring new ways to use Artificial Intelligence both as a standalone technology and in combination with other technologies such as cloud computing, Big Data, and augmented reality. AI combines the techniques and methods of machine learning (ML) with deep learning methodologies. Artificial Intelligence models can make strategic decision based on the large amounts of data that data scientists have used to train them.
AI Growth So Far:
Statista shared data that showed the global AI market (artificial Intelligence) will reach a valuation of $126 million by 2025. Gartner data shows that 37% have deployed or implemented AI solutions in some form or another. In less than a decade, the number of AI-focused firms has increased by 270%.
Servion Global Solutions’ research shows that 95% will have an AI component by 2025. Statista’s 2020 report shows that global IT markets will grow by 54% YoY.
Top Artificial Intelligence (AI), Applications Today
Artificial intelligence’s future is bright, diverse, and multi-dimensional. It is impossible to predict what the technology of tomorrow will allow AI to do. It is one of the most important technologies to watch over the next decade.
Artificial Intelligence has many applications in our daily lives. Although we might not always realize it, there are many aspects of our digital and online lives that can only be achieved through the power of AI. These are the top uses of Artificial Intelligence.
1. AI in e-commerce:
You’re more likely to have interacted with AI if you’ve ever shop online. AI has many applications in online shopping. These are the most popular:
Personal shopping
AI can collect information about your past visits to a website, your cookies, and your history. This data is fed into the AI model, which generates recommendations for users. This increases customer engagement and opens up cross-selling opportunities. It helps to build customer relationships and increase brand loyalty.
Artificial Intelligence assistants
As customers shop online, virtual chatbots and shopping assistants elevate the customer experience. NLP (Natural Language Processing) makes the conversation more humanized and personal. Virtual assistants can also be used to solve problems and provide real-time engagement.
Fraud prevention:
Fake reviews and credit card fraud are two of the most significant challenges e-commerce platforms have to face today. AI can help to reduce these problems by analyzing customer usage patterns and behaviour. Customers can use customer reviews to help them decide whether or not to purchase a product. Fake reviews can be a problem and can hinder curiosity.
