ICL Services
15 November 2021


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Top artificial intellegence (AI) applications

According to IBM’s Global AI Adoption Index 2021, the use of artificial intelligence in business is showing signs of acceleration. Nearly three-quarters of companies across industries are now using AI (31%) or exploring its use in the near term (43%) to meet their industry needs.

To better prioritize AI applications across sectors, it is worth considering their ranking from the perspective of the pain point — the problems of the industry, where AI solutions are not just in constant demand, but also have a strong link to GDP as part of the target indicators of the economy.
Covid-19 put health care on the top priority lists. To summarize the pain point (problem), the allocated resources cannot cover the need: whether it is for beds in medical facilities or medications, procedures, or tracking the course of treatments. The application of AI solutions in medicine is limitless but requires appropriate budgets. Artificial intelligence technology in health care has now basically covered four key segments: medicine, health, insurance, and the hospital.

Financial services
Here, the pain point is in the financial institutions, which are faced with the fact that the processing and, accordingly, the cost per application is quite high. Financial institutions also cannot offer tailor-made products and services for «long-term customers.»

The application of AI solutions is already being refined in the development of intelligent customer service using technologies such as voice recognition. But the next request is to develop solutions for intelligent investment advisory based on big data and use AI to provide personalized services to more customers. Many financial institutions would like to have intelligent risk management systems that combine AI and big data to improve risk management capabilities based on and as part of a comprehensive multi-dimensional data assessment.

Manufacturing sector
R&D processes, product design, and creation are time-consuming and financially intensive. Manual processes generate a large number of errors that are difficult to trace. There is no cheap workforce for routine and standardized operations. The use of AI solutions in these industries will be the most intensive in the next few years. From using computer vision to identify defective items to replacing humans with robotic tools and more.

Transportation, autonomous driving
The pain point is frequent car accidents, in which a huge number of people die. In the current traffic situation on the roads, the amount of human attention is limited. The cost of freight transportation is high and continues to rise.

Now, there is already a great demand for the implementation of AI solutions: from «stuffing» sensors and visual technology in various vehicles to autonomous driving or helping people constantly monitor the situation on the road and the vehicle itself. Logistics efficiency is another large layer of solutions where AI-based systems are welcome to.

Two years of remote learning have highlighted the problem of disproportionate educational resources that are used ineffectively. Teaching, in its approaches and methods, is rather teacher- than student-centered.

The application of AI solutions here, in addition to the traditionally used functions such as image and voice recognition, is necessary when creating and developing individual solutions in training and ensuring effective feedback for students by means of deep learning methods, adaptation of what has been learned and the formation of calculated indicators of knowledge digestion.

As the population grows, the burden on the relevant government services increases progressively and becomes more complex. Crimes and terrorist attacks are unpredictable and require new approaches to prevent them. The application of AI solutions here is aimed at increasing the share of self-service by the population. On the other hand, big data should be used to analyze the daily behavioral habits of criminal suspects and the possible locations where they might appear. Computer vision technology should be used more extensively to find and apprehend criminals.

Another major consumer of AI solutions with its own pain points. Traditional market research methods no longer reflect real consumer demands. Consumers want a new experience, easy payment and on-time delivery.

The use of AI is expected in more advanced solutions using machine learning technologies to create user profiles and serve them personalized ads. Using machine vision to monitor customer behavior and perform an in-depth analysis of their real needs. Even more use of AI technology, including computer vision, voice/semantic recognition and robotics to improve the consumer experience.

Smart cities
The progress of urbanization affects the urban economy, the use of resources, living standards, and time expenditures to varying degrees. With increasing urbanization and population growth, the whole world is facing increasingly complex problems. A new type of AI solutions will be applied within a new concept of transition from traditional «smart cities» to «super smart cities.»

Andrey Krekhov, Director of Special Programs at ICL Services.
The material is available at Wayxar.

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