Industry Use-Cases of AI – Becoming Human: Artificial Intelligence Magazine

Setting up alarm, making calls, having your phone read out news for you while having breakfast, or even telling you that it’s time to sleep, did you ever think that machine would replace manual work, well, we thought about it, but the pace at which it is happening has left many of us awe-struck. The growing importance and implementation of artificial intelligence across different sectors of businesses.

There are several use cases of AI in our lives, and this seems to be increasing with every passing day. We can say that AI is the sunrise that is going to impact our day-to-day routine, and it is the artificial intelligence experts who are working on it to bring this change. The global AI market is going to increase to $18 million by 2022. With this whopping increase, there is going to be a higher demand for artificial intelligence training and AI certificate programs that can help in creating an Artificial Intelligence expert.

Coming back to our topic where we are discussing how AI is finding applications in different businesses, then you must know that the ultimate objective of the same is to help in enhancing customer satisfaction and create flawless business processes. This requires the skillful implementation of different AI concepts in the current business process which can only be achieved by a proficient artificial intelligence expert.

Industry use cases of artificial intelligence:

1. Predictive maintenance- One of the common uses of AI is in predictive maintenance. It makes use of advanced analytics like machine learning to find out the condition of a single asset. The goal is to find when the maintenance needs to be done. This methodology involves a combination of different sensor readings and performs predictive analytics.
2. Quality assurance– This is the second place where we find the use of AI. One of the ways to achieve the same is through the use of an automated optical inspection technique. In this technique, a camera freely scans the device under test for failure like missing parts. After the image recognition, the system uses semi-supervised ML, which helps in finding out defective parts. It helps in assuring that it helps in finding out the right parts and removing the faulty one. This is especially helpful for manufacturing companies. It saves not only time but also the cost. Bosch made use of this technique and saved up to $1.3 million.
3. Supply chain optimization- One of the key uses of AI is in supply chain management. The supply chain is an important pillar for the success of any organization. AI developers are being hired by logistic companies to optimize the supply chain. Predictive inventory management is one such technique which is used for different inventory-related tasks. It helps in reducing inventory planning tine, reducing inventory cost, and finding optimal recorder points. Techniques like probabilistic modeling and time-series analysis are used.
4. Physical security- Threat detection or surveillance is another area where real-time functionality of AI finds application. It helps in enhancing the safety and security features.
5. Smart assistance- Well, if it would have been ten years back, then it might have sounded weird that an application is performing a task for you or asking you to wake up. We are not talking about the regular alarm system; we are talking about smart assistance that works in real-time with us. From Alexa to Siri, everything is a gift of AI, which has simplified our tasks and also made our life easier. It takes the effort of Artificial Intelligence experts to create such products that can make our work so easy.