How Artificial Intelligence can deliver real value to companies
Companies which have invested billions into Artificial intelligence are now beginning to reap a range of benefits. Artificial Intelligence is starting to deliver real time benefits to early adopting companies. Retailers rely on AI-powered robots to run their warehouses and automatically order stock when inventory runs low. The role of Artificial intelligence is to ease human life and bring in incremental changes in the processes of human life.
Artificial intelligence in the innovations in healthcare has restructured it.The next 20-30 years will see personalization of healthcare industry. Diagnosis, therapy, treatment and diet would not require doctors and would be taken care entirely by machines. This would add value for these companies by eliminating a large number of middlemen who are often prone to errors.
Another major field where Artificial Intelligence create a definite value is the field of finance and wealth. The major problem that banks face today is dealing with the non-performing assets. AI can factually and accurately predict the credit risk of an entity therefore maximizing profits. AI can also ensure a superior analysis will, in turn and give a better advice to the customers who face the problem of sub-par returns from their investments.
Another impact of AI is in the field of fraud detection where anomalies and patterns are studied to detect fraud. E.g Paypal , the US-based payment giant implemented AI to detect and predict fraud and brought rate down to 0.32%. Therefore Artificial Intelligence can deliver real value by reducing costs of human error, human inefficiencies, content customization, efficient decision making and also increase in productivity. From trendpro Systems Lt