Today almost all modern technologies are in full swing, and one such technology is Artificial Intelligence (AI). This modern technology just looks like a science fiction story, but presently it is more closer to that. Most of the businesses and entrepreneurs are putting efforts to integrate this advanced technology within their working environment.
According to market research, the artificial intelligence software market globally will experience massive growth during the next few years, the revenues of the market forecasted to increase by ten billion U.S. dollars in 2018, it is estimated that it will grow to an expected 126 billion by 2025. The overall AI software market includes a wide range of software and application, these apps include natural language processing, robotic process automation, machine learning, and much more.
Explore to Know-How Artificial Intelligence is Transforming Business Sectors
Nowadays, we have experienced a drastic change in the market, starting from driverless cars to virtual doctors. Modern technology, such as artificial intelligence (AI), has transformed everything. It has changed the way people live, travel, work, and perform most of their tasks.
The recent PwC report represents that AI could add around $15.7 trillion to the world’s economy by 2030. The expertise of British AI organizations and many other companies are leveraging the world’s most innovative, these business sectors are predicted to contribute a great amount to the global economy, this results in increased economic productivity and growth.
Artificial Intelligence (AI) can be termed as computerized systems that provide more convenience and efficiency to mankind. Experts research and study new devices to take necessary actions, which increases the chance of success, this can be termed as AI-based research. (Source)
Modern day’s computer is getting smarter day by day, and all thanks go to Artificial Intelligence. This advanced technology has much to offer to almost all the business sectors, and most of the industries are also leveraging the advantages which this modern technology offers to them.
AI is offering a staggering pace for almost all business sectors. Gartner’s report estimates that more than one-third of jobs will soon be replaced by robots and smart machines. Google also estimates that AI-based robots will attain a high level of intelligence of humans by the end of the year 2029. In 2021, AI is estimated to generate more than $2.9 trillion in business value, it is also forecasted that this modern technology will help in recovering more than 6.2 billion hours of worker productivity.
Most of the experts predict that modern technology, such as artificial intelligence (AI), will augment existing jobs rather than displace humans from the jobs. Hence it is clear that artificial intelligence technology has a bright future, this advanced technology plays a vital role in people’s lives these days, it helps them improve their performance, it helps them to perform numerous tasks more efficiently and accurately than ever before. Explore the list of major industries that are leveraging the benefit of modern artificial intelligence technology.
Recent research shows that artificial intelligence has proved to be boon for financial institutions as it helps them to save around $1 trillion in project cost. It also represents that this modern technology will add around $1.2 trillion in value to the financial industry by the end of the year 2035. The financial industry is one of the other industries that have executed artificial intelligence in its business.
Artificial Intelligence is one such technology that allows them to make many effective decisions and offer them various things like natural language processing, semantic technologies, machine learning, and much more. This advanced technology helps the finance sector to meet all the demands of customers. Today most of the finance sectors are considering integrating this modern technology because it forecasts trends in the stock market and allows them to manage all the tasks related to finance more efficiently than ever before.
The technological market has gained high momentum due to advanced artificial intelligence-based solutions. This type of advanced solution is crafted by an angularjs development company that enables technological sectors to solve all the complex problems more efficiently. Most of the companies who are dealing in the technological sector are transferring the vehicles and many other devices with autonomous one. They are doing so as it helps them to automate all the work, which ultimately results in improving productivity.
Medicine and Health Care
Most of the business owners who are dealing with the health care sector are making use of AI, after integrating AI-based solutions, they have experienced wandering outcomes in their respected fields. According to the report, AI solutions in the healthcare sector will generate around 6.7 billion U.S. dollars in revenue by the end of 2021, this number will increase more with the passage of time.
AI-based equipment and software not only automate almost all the tasks, but it also helps the doctor to monitor all the machines at the same time, this can help them to save a huge amount of time and cost at the same time. Avance solutions developed using artificial intelligence allow doctors to track patients’ data, especially during the critical period. Many of the sophisticated features like facial recognition and many others can be leveraged by the sector when they consider integrating this advanced technology within their working environment.
Government and Defense
One of the recent Defense Advanced Research Projects Agency has provided huge funds for AI research. DARPA invested its penny for the development of new technology, which they can use for military purposes. Robots developed using artificial intelligence technology can easily travel into the dangerous terrains compared to humans can’t do the same task more accurately as there is always a risk of losing their life.
AI-driven solutions also help them to perform remote surgeries and also enables them to execute surveillance missions that are beyond the capabilities of humans. Due to the increasing amount of cyber-attacks, military forces and governments feel that they need to integrate advanced AI-based solutions within their working field. This solution can help them to improve cybersecurity and helps to detect attacks at the initial stage.
Most of the retail businesses these days use an automated system to provide the best customer service. They provide a unique AI-based platform to their customers where they can easily place their doubts and can accurately answer questions related to it. Automatic texts are sent to customers when they place any query or issue on the platform. This advanced system mimics human speech patterns and generates users with friendly responses related to it.
Summing It Up
Technology has provided service providers and consumers with great change during the past few years. Continuous growth is measured in the adoption of modern technologies such as artificial intelligence, blockchain, augmented reality, virtual reality, and many more. Artificial intelligence (AI) has much to offer to both companies as well as consumers, it enables businesses to make a smooth transition, which helps them in bagging massive success in their business in a shorter duration of time than their imagination.
Businesses can take support from app development companies to craft advanced solutions using these advanced technologies. They can develop an AI-based solution that enables you to reduce the overall working burden of your business staff. Get in touch with any of the professional app development companies who can craft advanced solutions for your business at a pocket-friendly price that is also within the estimated time which you have provided.