The artificial intelligence revolution is here, and the way companies respond to it will shape the business landscape for years to come. Nearly 99% of firms are making some kind of investment in AI or big data initiatives, meaning AI has permeated all aspects of business.
While AI may be just about everywhere, that doesn’t mean it’s affecting things equally. To prepare for the future, you need to know what’s happening now.
Here are six areas of business currently being turned upside down by AI:
1. Internet Service
It may not be obvious how internet service providers can use AI to boost business. Don’t they simply provide the amount and type of internet their customers are willing to buy? In reality, providing internet service is much larger than installing a router.
ISPs need to provide high levels of security for their users. Forward-thinking ISPs use companies like Plume, which offers AI-enhanced security, to monitor device behavior and detect anomalies. That empowers them to shut down threats in real time. Plume’s Adaptive WiFi uses artificial intelligence to keep tabs on the differing needs of a home’s connected devices. It also tracks updates to ensure a household is using its internet most efficiently. With internet access increasingly becoming more a utility than a luxury, proper infrastructure makes it work.
Articles about how robots are soon going to phase out reporters are common. But they seriously misrepresent how AI will change journalism. While programs are becoming increasingly adept at writing, humans still ensure accuracy and relevancy.
Artificial intelligence is particularly helpful when it comes to fine-tuning the writing that human journalists do. Common AI tools can save reporters up to 20% of their time by producing financial reports and the like. Rather than replace journalists, AI allows writers to spend more time writing.
When COVID-19 first appeared in Wuhan last year, drug manufacturers were forced to reckon with a harsh reality. Treatments are needed immediately, but drug development takes months or years when done properly. New players in the world of pharmaceuticals had an answer: machine learning.
Healthcare AI startup DeepMind is devoting its supercomputers’ power to seeing how different proteins can be folded into relevant treatments for COVID-19. As new disasters and diseases crop up, traditional medical strategies may not be fast enough. AI will fill in the gaps.
Tesla’s self-driving cars may seem like a novelty, but AI is poised to make major changes in transportation. At this moment, 65% of all goods in the world are transported by trucks — trucks that could soon be driven by computers more often than humans.
AI-directed distribution patterns can increase driver safety and offer more efficient delivery schedules over time. In the pandemic era, businesses needing reliable procurement should look into the possibilities offered by AI.
As climate change and population growth make agriculture more variable than ever, farmers need new ways to protect their crops. Companies like Taranis are using AI to detect unwanted pests; more firms are using computing power to maximize their crop yields.
AI can be put toward developing advanced weather models, enabling farmers to prepare for floods or droughts weeks in advance. Environmental stresses on production will only grow over time, but AI’s strength is poised to grow along with it.
6. Renewable Energy
The renewable energy revolution is upon us, but it introduces a few problems. Energy demand fluctuates, but certain renewables can only produce at specific times. Solar, for example, only draws energy during the day; turbines need certain wind speeds to produce efficiently.
Utilities adopt AI to strike a balance between demand and production. By closely tracking how much energy is used, energy companies can know which energy sources to activate when. These innovations ease the transition away from fossil fuels and toward sustainable and clean energy sources.
AI is changing the world, but not the way we often think. Used correctly, artificial intelligence makes doing business safer, more efficient, and more profitable. Hop on now before your business gets left behind.