How different industries leverage AI
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You know you want to apply AI to your business, but you aren’t sure where to begin? Reviewing how other businesses are using powerful AI tools can help.
In early 2023, Forbes Advisor surveyed 600 business owners who are currently using or plan to use AI in their businesses and found the top five use cases for AI included: customer service (56%), cybersecurity/fraud management (51%), digital personal assistants (47%), customer relationship management (46%), and inventory management (40%).
But there are many other use cases for AI. From simple task automation to advanced robotics, explore just a few of the innovations made possible by AI in different industries.
Interested in using AI for your work? Do you want to contribute to future technological advancements by building AI yourself? Browse online AI programs on edX today.
How AI can enhance healthcare
Identifying at-risk patients
The modern healthcare industry is full of valuable data points, many of which are already digitized and ripe for AI adoption. Through pattern-recognition software, AI can sift through vast amounts of patient data and flag those whose health may be at risk. This isn’t just a time saver for practitioners, it’s also a promising means of reducing the implicit and explicit bias in the healthcare industry .
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Patient confidentiality should always be your priority. As you research AI diagnostic tools, be sure to look for programs that offer strong security and data encryption.
Speeding up drug development
According to research by the California Biomedical Research Association, it takes an average of 12 years for a drug to go from the lab to the patient . How much does that journey cost a company? Around USD359 million. By training AI tools with both proven and failed attempts to develop pharmaceutical solutions, they can predict potential new formulations in a fraction of the time and at a far lower cost.
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AI relies on vast volumes of data for accurate training. One of the biggest challenges in drug development is the availability of relevant information, which may make this application difficult.
Performing administrative tasks
Maintaining patient records, setting appointments, managing doctor schedules, and drafting insurance approvals is tedious, time-consuming work. They also tend to be process-oriented, which is ideal for rule-based AI. These tools can handle relatively simple, repetitive tasks and give administrators and practitioners more opportunities for meaningful interactions with patients and colleagues.
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AI should never take the place of human interaction. As you determine the tasks you’ll delegate to AI tools, make sure they won’t have a negative impact on the patient experience.
How AI can enhance IT
Detecting and responding to technical issues
In a global survey of more than 12,000 professionals, PwC reported that 43% of respondents prefer to resolve IT issues digitally rather than face to face. AI can be used to detect those issues and determine the appropriate response, and even predict turnaround times and generate reports. Teams may develop a custom solution that assigns help desk tickets according to issue severity and employee availability.
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Develop a set of guidelines that enable your AI tools to automatically escalate complex issues that require human intervention.
Handling routine operations
Just like any other industry, when AI tools perform everyday tasks, professionals in IT roles can devote their time to more complex functions that require advanced technical expertise. Artificial intelligence-enabled data management, system monitoring, and software maintenance can all be performed without human intervention. Automating these routine operations can also help to reduce human errors, leading to greater productivity.
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Before selecting your AI solution, define the use case and choose the appropriate architecture for the project. Test and monitor the solution to help mitigate future problems.
Improving energy efficiency in data centers
Remote data centers may have eliminated the need for on-site storage, but they can still benefit from improvements. Machine learning-based AI tools can monitor the energy consumption and associated waste generated, and respond to any deviations in real time. By implementing AI technologies, organizations can better manage and minimize their carbon footprint.
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It may seem obvious, but any AI solutions you use with company data will have access to sensitive information. Be selective about what you share, especially when testing different tools.
How AI can enhance cybersecurity
Automating incident response
Did you know that the majority of cyber-related incidents are the result of human error? A recent report by Harvard Business Review stated that AI tools may be the ultimate safeguard against hacks, breaches, and other malicious activities. Further research has shown that machine learning can detect cybercrime with pinpoint accuracy , removing the need for human intervention in critical situations.
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Your AI cybersecurity tools are only as strong as the people training them. Cyber teams can work in tandem with development teams to create safe, human-friendly solutions.
Strengthening access control measures
When an employee logs into their devices and accounts, a certain set of actions is performed behind the scenes. AI tools can be trained to recognize when those actions are performed in a suspicious manner. Cybersecurity teams can implement unique rules and guidelines that flag malicious activity and even identify weak passwords that prompt stronger user privacy.
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AI can strengthen your cybersecurity efforts, but it can also be used to develop new hacking techniques. As you set up your AI tools, make sure you can effectively monitor their safety.
Encrypting and protecting data
Sophisticated AI tools can help your cyber team keep sensitive information safe. While humans can be perfectly good cryptographers, AI can generate advanced algorithms that make your network much harder for hackers to manipulate. For instance, you could train your AI to repeatedly scramble data on a cyclical basis, essentially re-encrypting data faster than hackers can decrypt it.
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Today’s smart cybersecurity solutions can be tomorrow’s entry point for a breach. While AI can supplement strong measures, human oversight is the first step to protecting digital assets.
How AI can enhance software development
Speeding up time-consuming tasks
Software developers use a variety of technical and creative skills to build engaging programs and applications. They can use AI tools to automate some of the more tedious tasks that take up time they could be using to brainstorm innovative ideas.
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While you could theoretically build an entire website using AI, nothing can replace human creativity and a strong understanding of the user experience.
Leveling the playing field
U.S. News and World Report listed software developer as the number one job of 2023 . However, the same report stated that a tech talent shortage is making it difficult for companies to find qualified candidates. AI tools make the learning process more approachable and can help aspiring developers gain the confidence and skills they need to enter the tech workforce.
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Many website building platforms provide AI assistance, allowing you to make small adjustments over time as you become more experienced.
Detecting and fixing bugs
Developers are often responsible for writing and maintaining thousands of lines of code. Even the smallest mistake can result in a major malfunction and can be incredibly hard to find. Why not use AI? Tools can be trained to crawl through the code, identify any bugs, and patch them according to predefined rules, giving developers time to test and scale their projects.
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You can use a tool as simple as ChatGPT for code review. Plug in your code, specify your request, and generate a report.
How AI can enhance marketing
[H3] Personalizing the customer experience
McKinsey’s Next in Personalization 2021 Report revealed that companies that invest in personalization bring in 40% more revenue than those that don’t. Purchase history, user preferences, and loyalty programs are all valuable data points that can translate into a highly personalized experience. Custom dashboards and recommendation engines can also make your customers feel special and increase their likelihood of returning to your brand.
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AI marketing tools should always benefit the customer and respect their privacy. Do not collect or use data when customers state their preference for their info not to be shared.
In a 2020 survey, Deloitte reported that enhancing relationships with customers was a top objective for early AI adopters. While it may seem counterintuitive, incorporating AI into simpler tasks can give marketers more time to develop and maintain those relationships. For example, social listening tools can aggregate consumer attitudes about your brand. This information can be used to drive your communications strategy.
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AI should never be used in place of an entire human interaction. As you explore AI marketing tools, focus on options that can enhance your customer relationships.
Automating communications
If you’ve ever used a website chatbot, you know that they can be very useful for some inquiries, and utterly frustrating when handling others. These AI tools are a great marketing tool when used thoughtfully. Informational communications, such as delivery times or appointment schedules, can be handled through automation, which can free up your customer service team for more complex situations.
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AI-enabled communications need human emotion. Tools like ChatGPT can help you generate a first draft for an email, but your personal touch makes it meaningful.
How AI can enhance education
Democratizing learning
There is no single “best” way to learn. AI can be used to curate individual learning paths, such as variable pacing and tailored prompts, based on a student’s performance. It can also mimic human speech patterns, generate translations, and interpret non-verbal forms of communication. In an article from the U.S. Office of Educational Technology, educators highlighted that AI has strong potential to improve academic support systems for students with disabilities.
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When you’re working with AI, it’s easy for small biases to become huge issues over time. Tools should use objective inputs and markers that avoid stigma or assumption.
Preparing students for an AI-enabled future
Proficiency with AI comes with practice. Although many educators are concerned about students’ use of generative tools , such as ChatGPT, it’s important to teach young learners how to use AI responsibly. Companies across industries are figuring out how to incorporate AI into their operations. By teaching students about AI, teachers can better prepare them for an AI inclusive future.
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Data privacy and consent are important considerations when teaching AI in the classroom. Tools should be trained with non-personalized data, never with a student’s personal information.
Performing routine and time-intensive tasks
The American Psychological Association has found that positive teacher-student relationships start with high quality instruction . When AI tools are used to perform routine tasks, such as recording attendance, grading homework, and generating lesson plans, teachers have more time to focus on student performance.
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Involve your students in your programming process when setting up your AI productivity tools. They can get added exposure to the technology through real-world applications.
Detecting fraud
According to the Federal Trade Commission, consumers reported losing almost USD8.8 billion to fraud in 2022 , USD3.8 billion of which came from investment scams alone. Using AI for fraud detection can help to prevent these losses. Tools can be trained to look for common patterns of fraud and enact barriers in real time, stopping criminal activity and protecting the customer experience.
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AI tools used for fraud detection require them to have access to large amounts of sensitive data. Be especially cautious when using AI in financial services, to hold on to customer trust.
Speeding up traditional services
Fintech firms and banking institutions that conduct their business online have a serious advantage over those with limited digital abilities. Manual activities like loan processing, customer onboarding, and check deposits can be time consuming when automation is not an option. AI tools can be trained to perform all of these tasks. Faster speeds mean that financial institutions can process more customer transactions and potentially increase their bottom line.
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If your institution is new to automation, start with activities that have a fixed set of steps required for completion, such as enrollment forms and other paperwork-related tasks.
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