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Artificial Intelligence: Benefits for Industries
Artificial Intelligence (AI) has gained great popularity in the last few years. It appears more and more often among different industries creating not only attractive headlines but also sufficient value. Implemented in the right way, AI allows companies to optimize their redundant operations, improve customer services, eradicate human error, and utilize human resources in more sophisticated tasks. Artificial Intelligence is an investment that is worth taking. Many industries across the globe, such as health care, e-commerce, finance, manufacturing, document management, and more, are proving it every day. 54% of executives say AI solutions implemented in their businesses have already increased productivity
How exactly AI integration helps industries read below.
AI in the healthcare industry is changing at its core. Statistics show that due to the rising potential of AI technology in genomics and drug discovery, the total Global Artificial Intelligence in Healthcare Market is estimated to reach USD 95.65 Billion by 2028, up from USD 6.60 Billion in 2021. From personal records protection to robotic surgeries. Moreover, AI technology helps in predicting and tracking the spread of infectious diseases by analyzing data from the government, healthcare, and other sources.
The most significant breakthrough is the ability of AI to diagnose pathology. With the help of ML algorithms, machines can track the change in patient state over the X-ray, CT, and tissue samples. In this order, AI provides a much more accurate diagnosis to make treatment more efficient.
AI in the photo & image industry
AI has become an inevitable part of the photo and imaging industry for a few years now. Manufacturers integrated them into smartphones and cameras, as well as photo editors. It has become mundane to people that phones and cameras can recognize someone’s face, objects, and buildings. Suggests how to make a photo according to golden standards. Or how the program makes automated adjustments to an image and regulates the lights, sharpness, saturation, or exposition to provide you with the best outcome. All these almost unseen interventions are possible thanks to AI.
There is no surprise that AI also can be found in photo editing programs. Photoshop, inPixio, Luminar AI, and Imagen AI are software that provides their users with quick and qualified photo editing. Hours spent on editing and fixing now take just a few minutes. Whether the person is a professional photographer or just a beginner, their work will be hard to distinguish with AI-enhanced tools. Background removal, skin editing (which is practically impossible for software), sky replacement, and many more options are in one click to go. AI predicts a potential scenario after just a few edits.
AI integration into photo-editor programs attracts a younger audience who like to interact with everything new. The more AI features the program possesses, the more clients it will engage.
AI integration into the finance and banking industry changed the way consumers and companies access and manage their finances. One of the reasons the financial sector approached new technologies is its ability to work with a great amount of data. AI tools empowered by ML algorithms provide banks with real-time data reporting, accurately processing data in large volumes, analyzing potential fraud threats, and can imitate human behavior in 24/7 chatbots. These elements make the old-school banking system an engine of possibilities, attracting new customers and enhancing their experience. In addition, AI tools proved to be very handy in forecasting and risk management, as well as automation of certain tasks. According to Insider Intelligence, automating middle-office tasks with AI has the potential to save North American banks $70 billion by 2025.
Workforce management is another industry that starts to integrate AI tools into its software. Workforce management (WFM) covers multiple points: scheduling, labor forecasting, time tracking, and even internal staff communication. In order to achieve better efficiency and reduce employee retention, companies came to Artificial Intelligence and gained lots of benefits from it.
Scheduling. Done manually, this process takes enormous amounts of time in annual progression, but with an AI-enabled WFM system, scheduling is just a matter of minutes. Staff members can balance labor requirements with their personal needs as ensuring work-life balance is crucial for the industry. The program enables staff to access time-off requests, required breaks, and shift changes and automatically provides schedules, including their preferences and circumstances, without disrupting of the working process.
Labor forecast. The ability to accurately forecast job volume and the corresponding labor needs are essential. Without precise forecasts, there is always a risk of excessive labor costs for unnecessary staffing or reduced customer satisfaction which leads to cost loss. With AI forecasting tools you can always predict the correct number of agents you should schedule, and the type of skills required for the task.
HRM. With data access, AI can simplify HRs routine work greatly. Instead of manual collection and distribution of information and feedback from employees, AI tools can do it faster and more accurately. Employee’s general data, satisfaction level, and skills uprise are available in one click. Thanks to this and the forecast option it is clearer for HR to provide training, appraisals, or teamwork activity to achieve better results.
As technologies and digitalization are getting more common in industries, their improvement is crucial for business. In order to remain compatible, companies are selecting AI integration for their software as it is no longer a perk but rather a necessity. Proffiz tech team has solid expertise in AI development and integration into various industries.
RIP software is software that processes digital images to optimize them for printing. To learn more about it, read this article.