AI Will Affect These Industries the Most in 2023 was originally published on Firsthand.
The use of artificial intelligence in various industries is a hot topic at the moment, with many people left wondering about the future of their jobs. AI isn’t all bad though, and it can be used to greatly improve a variety of industries while also creating some new tech jobs. Today we’re going to take a look at how some industries will change through the use of AI.
First, we must examine the reasons why certain employers might prefer AI systems over their human counterparts. Most obviously, AI costs less than human employees; it doesn’t ask for raises, and employers don’t have to award AI with bonuses or pay for expensive benefits packages. As far as productivity is concerned, AI is typically much faster at processing various data sets and completing certain kinds of tasks when compared to humans.
AI can also continuously improve on its own through the use of predictive analytics. This technology allows AI to easily identify and adjust to patterns and trends with more efficiency than humans. Some employers may not want to wait for a human employee to perform the complex analytics and research it takes to streamline certain processes, which makes the use of AI systems all the more attractive.
In certain cases, AI could be considered more reliable than its human counterparts. For starters, AI can’t get sick and will never call out, doesn’t need to take vacations, and will not complain about an overwhelming workload. This may seem like an extreme example, but AI also has the potential to improve a company’s workplace culture in scenarios where it can replace toxic or otherwise troublesome employees. So, with all that out of the way, which industries are expected to be most impacted by AI this year?
Many tasks that are performed by marketing associates can also be performed by AI systems. As mentioned, AI is capable of performing predictive analyses at a rate that is superior to human employees. This is especially advantageous for targeted ad campaigns, where it is necessary to anticipate consumer behavior with a high degree of accuracy.
Along with this, AI can be used to automate certain creative tasks, such as social media content creation or messaging. Perhaps most simply, AI can be implemented to perform tasks such as data entry, which would allow marketing associates to spend more time and energy on other, more complex tasks. The bottom line here is that the use of AI in marketing will afford a higher level of accuracy and efficiency—this will be a theme moving forward.
Banking and Finance
Similar to how AI can be implemented in the marketing world, it is extremely useful for analyzing current trends and predicting new ones as it relates to the banking industry. The speed and accuracy at which AI can process information will lead to an enhanced, more personalized customer experience. Eventually, banking institutions that are not currently leveraging AI will have no choice but to modernize if they want to remain competitive.
It’s also worth mentioning that AI can serve the banking and finance industry by performing some of the more mundane tasks such as document creation and processing. This not only cuts down on costs, but also allows employees to focus their energy on other tasks, greatly increasing efficiency and productivity.
I’ve been waiting patiently for an opportunity to talk about robots here, and finally, the time has come. AI can be used to assist in robotic surgery—that’s right, we’re talking about actual robots performing surgical procedures. In all seriousness, robotic surgery isn’t a new concept, but AI can be used in conjunction with the robotics to provide a higher level of precision along with reduced risk.
Once again, AI’s ability to accurately predict future trends can help doctors make informed decisions about a patient’s outlook. Here, doctors will be able to more accurately anticipate a patient’s potential health risks, allowing them to mitigate any issues that might become more serious in the future. Doctors also spend a lot of time reviewing various images such as CT scans or X-rays. AI systems can be used to perform these tasks at a greater rate of speed and accuracy, saving valuable time that can be used to treat patients.
If you use GPS in your car, you’ve already seen a version of what AI can do when it comes to streamlining transportation. Yes friends, AI can be used to predict traffic patterns and provide optimized routes, which is extremely valuable to the transportation industry. This can help companies better manage their fleets, leading to superior shipping capabilities. Just think—next time you order some cool stuff online, it might arrive at your door even faster!
In time, the transportation industry will be significantly impacted by the use of self-driving vehicles. Through the use of AI, vehicles will be able to decide on their own routes without the need for human interaction. Further, the use of AI in transportation will greatly reduce accidents, making roads all over the world much safer. We’re already seeing self-driving cars made by companies such as Tesla, so none of this is too far off.
The use of AI will undoubtedly impact a wide variety of industries in one way or another. As you can see, a lot of its strength is in data processing and analytics, which makes it a no-brainer when it comes to certain industries; however, we still haven’t seen the full potential of what AI systems can do. As things unfold, we’ll have a lot more to talk about, so make sure you check back often.