Why Artificial Intelligence Is Important?

Today is the day and age of artificial intelligence. But it is important to understand why artificial intelligence is important to us. Once we understand that, we are able to make more informed decisions about our day-to-day lives.

Artificial Intelligence is an attempt to create programmable rational-agents using computer algorithms.

Every single day, the need and use of artificial intelligence is increasing. Not only is this technology allowing us to function better, but also saving our time by simplifying (for end-user) a lot of processes.

The ultimate goal of Artificial Intelligence and Machine Learning is to reduce human effort. These technologies have been around for quite some time now, but only recently gained traction and mass-adoption. Partly due to the technology becoming more simple to use and costing less.

Various industries have started using artificial intelligence technology to develop systems that perform different activities.

Artificial Intelligence In Banking & Financial Systems

Banks are using AI/Machine Learning technology to handle various complex processes in a faster, cheaper, and less erroneous way. Some of the use-cases are: form processing, fraud detection, sales/loss/profit projections, default forecasting, chatbots or digital personal assistants for customer on-boarding, support, etc., wealth management, portfolio management, card management systems, risk management, hedge fund management, and others.

Artificial Intelligence In Medicine & Pharmaceuticals

For the past couple of years, artificial intelligence technology has changed the face of the medical and pharmaceutical industries. There are so many incredible benefits that AI/Machine Learning bring to the table. Some of the use-cases are: drug recall forecasting, drug shortage forecasting, chatbots and personal assistants for fitness, customer-onboarding, support, etc., drug discovery and testing, diagnostic assistance, optimizing treatment, early detection of diseases, associating a causal relationship between certain actions and health-risks or health-benefits, and various other uses.

Artificial Intelligence In Heavy Industries & Manufacturing

Most manufacturing companies today are using artificial intelligence in the production process. Whether it is for feed-forward control, smart maintenance, smart buildings, employee productivity, predictive maintenance, quality inspection, human-robot collaboration, generative design, optimizing manufacturing supply chains, helping companies anticipate market movements, waste prevention, or intelligent manufacturing, the use of artificial intelligence has made this industry so much more efficient.

Conclusion

Artificial Intelligence and Machine Learning technology have become a part of everyone’s life. From small to large enterprise, it has benefits to every system out there. The use-cases are tremendous and need the right kind of teams working on these problems to disrupt the world. Teqsense can help you here. Get in touch!

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