 Image credit: Alex Knight on Unsplash When people think of Artificial Intelligence (AI), they tend to think of movies where AI goes wrong and threatens the universe. Thankfully, the reality is far more boring.
AI is a range of systems that can perform tasks that generally rely on human intelligence to complete. This can include things like analysis and problem-solving. Marketing Marketers are beginning to use AI for a range of marketing tasks. From automating PPC campaigns to curating content and running chatbots and online chatroom software to engage customers. Amazon is one of the leaders in utilizing AI and use it for a number of things, including product recommendations. Cybersecurity Some companies are using AI to continuously analyse their IT network and identify traffic that deviates from normal activity. When abnormal or suspicious activity if identified, it can then work to protect the network. Cybersecurity is a priority for organizations of all sizes and a successful attack can be devastating both in terms of reputation and financially. Automated Recruitment HR and recruitment can be a very labour intensive process. With unemployment rising in the wake of COVID-19, there are hundreds, even thousands of applicants for every job. AI automation can be used to find and analyse candidate applications. Market Conditions Predicting changing market conditions is extremely difficult. The sheer amount of information that needs to be processed is impossible for a human to do. Instead, large investment firms and hedge funds use AI to analyze and predict the market. Health Care Machine learning is being adopted in the healthcare sector. With it, doctors can detect if a patient with an existing condition is deteriorating and intervene before they need hospital care. The pace of machine learning in healthcare is also leading to the earlier detection of diseases such as cancer and diabetes. The sooner a condition is diagnosed, the more successful the treatment methods can be. This saves lives and saves money. Software Vulnerability Testing Software needs to be airtight when it comes to security. Any vulnerability can make it susceptible to attack. Companies are using AI models to detect vulnerabilities and predict attacks. Behavioural Analytics Using AI to identify negative behaviours is a controversial use of the technology, but nevertheless, some companies are finding it invaluable. It is used to identify bad behaviour within the workforce, it can even predict if someone is unhappy in their job and is thinking of leaving. Automated Accounting Today’s financial transactions take place online. The Fintech sector is incorporating AI into its products in order to automate things such as expense reporting, bookkeeping and data entry. Conclusion Businesses have barely scratched the surface when it comes to implementing AI. The sheer number of potential uses for it is difficult to imagine. As technology improves and the cost reduces, more and more industries are going to start using AI in many areas of their business.
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