In terms of how AI is transforming industries, artificial intelligence is currently transforming business in many ways, including using AI to improve workflows and efficiency, and using machine learning to obtain high-quality datasets to increase accessibility and convenience.
“Digital transformation” is a term we've been hearing for years. Since 2020, with the shift from working from home to working from anywhere to a hybrid society, digital transformation has become a necessity.
Looking back at three years of uncertainty and constant change, in 2024, we believe that “AI will transform industries” will become the new normal, as companies seek to align their systems, policies and priorities for a new, human-centric future while accepting ongoing change as both an IT and cultural reality.
How AI will transform business in 2024
AI capabilities are developing, enabling a wide range of business applications. AI, ML, and deep learning have a wide range of applications. First, businesses can deploy AI-powered systems to analyze customer purchase data, discover popular products through online marketing, and combine this data to streamline their offerings to boost sales.
Other businesses, such as financial institutions and government agencies, can leverage the power of AI to protect their customers' financial data and reduce the risk of loss due to fraud. These companies use deep learning to detect suspicious patterns in user activity and notify users. AI is also used to improve consumer experiences, both in person and online, through the development of AI chatbots and other innovative technologies.
Chatbots are already commonly used to provide fast customer service and answer frequently asked questions, while at the same time learning each customer's wishes and enabling human agents to provide an efficient and personalized service.
Currently, there are fears that AI skills will cause many employees to lose their jobs. However, most experts disagree. AI's impact on human workers is more complicated. Many believe that rather than replacing jobs, the new technology will help create a knowledge-based economy by streamlining workers' workflows and making AI more productive in their current roles.
What industries is AI impacting?
How AI is transforming industries has been demonstrated across dozens of industries around the world, but these new technologies suggest that AI is transforming industries to some extent.
Automotive
The automotive industry is adopting AI in the development of self-driving cars that use advanced visual sensors for navigation, a technology that aims to improve road safety for the future of transportation.
Bioscience
Biosciences is using AI to rapidly discover and create new treatments for illnesses and diseases. The industry is using data science to predict which compounds can treat specific problems. These tools are being used in the marketing and creative services industry to evaluate client data and create more effective and engaging campaigns.
education
In the education industry, AI enables faster and more personalized learning plans that are tailored to each student's needs and learning style. Large language models and search augmentation generation also help in creating effective instructional materials, learning solutions, and multilingual interactions. Efficient training delivery also increases the overall productivity and professionalism of students.
Finance & Banking
In the finance and banking industry, machine learning and deep learning are naturally used to analyze customer interactions, behavior and financial status, not only to provide and resolve solutions to customer-specific problems, but also to improve the overall service and decision-making by both customers and other stakeholders.
health care
Now, healthcare providers are creating a common point of contact with patients through new apps. These apps leverage artificial intelligence to provide patients with free consultations or direct consultations with doctors. This makes it easier for patients to receive quality healthcare services as they can do so without having to travel.
IoT
Finally, the Internet of Things (IoT) is how AI will improve the way industries and people exist, interact, and navigate their environments at scale. The Internet of Things will generate vast amounts of data, which will allow us to build “smart cities.”
These cities are using sensors and data science to better protect and function their urban areas. Undoubtedly, over time, artificial intelligence will reshape cities as well as industries, making better decisions in areas such as Calidad del aire, reducing congestion and streamlining road layouts.
Conclusion
In conclusion, the impact and penetration of advanced technologies such as AI is transforming across industries. From the evolution of cars with self-driving capabilities to smart applications in biosciences, education, finance, healthcare and smart IoT, AI is transforming the business world. The former has led to improved operational efficiency, but at the same time, it has also led to improved quality of customer relationships and strengthened leadership positions in creating and developing new knowledge.
Therefore, as the world continues to experience digital advancements, AI will continue to drive progress, new demands, and an interconnected, intelligent future across industries around the world.
