Despite the current popular obsession over new AI tools like ChatGPT, artificial intelligence is already a part of our daily lives. A wide range of industries currently use AI to improve efficiency and accuracy, automate tasks, and create new opportunities across different functions. Here are three ways that AI is already being used in current applications, and three ways that it will be used in the future.
Current AI Applications
Ad Targeting
When you see an ad on Facebook or Instagram that perfectly matches your interests, you might assume it’s just a coincidence. However, that ad is likely the result of AI algorithms that analyze your behavior, interests, and preferences. Advertisers use AI-powered tools to collect data about your online activities, including your search history, social media activity, and previous purchases. They then use this data to create highly targeted ads that are more likely to grab your attention and result in a conversion.
Weather Forecasting
Weather forecasting has come a long way over the years. Today, meteorologists use a variety of technologies, including AI, to predict weather patterns with greater accuracy. AI algorithms can analyze vast amounts of data from sensors, satellites, and weather stations to generate more accurate and timely forecasts. This information can be used to help individuals and businesses plan for severe weather events and reduce the impact of natural disasters.
Fraud Detection
Businesses use AI to detect and prevent fraud in a wide range of industries, from banking and finance to healthcare and insurance. With evolving technologies, fraudulent activities are becoming more sophisticated and challenging to detect using traditional methods. However, AI algorithms can analyze vast amounts of data in real-time to identify suspicious patterns and anomalies. This helps businesses and organizations to prevent financial losses and protect their customers’ data and privacy.
AI’s Future State
Chatbots
Chatbots are AI-powered software programs that can interact with users via messaging or voice channels. They are becoming increasingly popular in customer service, sales, and support, as they can provide instant assistance and answers to common questions. Chatbots can also help businesses save time and money by automating repetitive tasks, such as scheduling appointments and processing orders. As AI technology advances, chatbots will become more sophisticated, with more human-like capabilities and the ability to understand and respond to complex queries. The recent buzz around ChatGPT speaks to the myriad ways advanced language AIs will be used in future applications.
Healthcare
AI has the potential to revolutionize healthcare by improving patient outcomes, reducing costs, and increasing efficiency. AI-powered tools can analyze vast amounts of patient data to identify patterns and insights that can help doctors make more informed decisions. For example, AI can help identify patients at risk of developing certain diseases or conditions, predict the likelihood of hospital readmissions, and improve the accuracy of medical diagnoses. AI can also be used to automate administrative tasks, such as scheduling appointments and managing patient records, freeing up more time for doctors and nurses to focus on patient care.
Film Production
AI is already being used in the film industry to enhance the creative process and improve the quality of movies and TV shows. For example, AI algorithms can analyze past box office data to predict which types of movies are likely to be successful and inform decisions about casting, marketing, and distribution. AI can also be used to create increasingly realistic digital content wholesale, without the need for on-site video production. In the future, AI-powered tools could be used to generate entire scripts and storylines, eliminating the need for human writers. The current Hollywood writers’ strike stands as evidence of the stakes involved.
AI will only become more prevalent in the future, even as it becomes less immediately visible through thoughtful design. While there is still some skepticism about the impact of AI on society and the economy, there’s no denying that AI has the potential to transform our world in profound ways. As we continue to develop and refine AI technology, we can expect to see even more exciting and innovative applications across business verticals and functions. The state of technology is never static, and the currently-unfolding AI revolution promises to revolutionize the human experience much as other digital technologies have in recent years.
About the Author
Tom Cheli has held a number of high-tech senior management roles in Silicon Valley over the past twenty years. He is currently the CEO and on the Board of Directors of Frequence, the end-to-end solution for media companies to automate and grow their local advertising sales. Prior to Frequence, Tom was the COO at Tellapart and the executive vice president at QuinStreet where he spent over 11 years and held various management positions driving growth for sales and operations. He has also previously held executive positions at Collagen Aesthetics, Akorn and Merck. Tom earned his BA in Sports Medicine & Biology from the University of the Pacific.
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