
How And What Industries Will Be Most Transformed By Artificial Intelligence (AI) In The Next Five Years
The concept of what intelligence is and what types there are have spurred on curiosity and research for some time now and in increasing dimensions. Artificial intelligence has evolved as one of these types and as a branch of computer science.
It sprouted out of the idea of having intelligent machines that could work and think like humans so that the burden of work is eased and labor requiring direct human efforts is minimized. We have seen highly specialized computers and robots developed as a result and experts in this field have been putting in a lot of effort into heralding this new era.
Importance
The obvious effects of this trend have so far been positive. Artificial intelligence has proposed and is actively working towards what experts call an “error free world”. With machines doing all the thinking, the possibility of human error is erased and results are highly automated with outcomes almost always correct.
The possibility of forgetfulness, slothfulness and other vices that make human efforts rid with errors are erased and do not surface at all. This is one of the major advantages of artificial intelligence. But the most important perhaps is the potential that artificial intelligence holds to reduce human participation and effort.
Another big advantage is that with artificial intelligence, results are characterized by accuracy, the type that portends stress for humans. Take the banking sector as a classical example.
Large amounts of money will take a human a lot of time and energy to count and this will often result in missing one or two notes. However, banks now have machines that counts notes in seconds and accurately too. This is artificial intelligence at work.
Sectors That Have Imbibed the Artificial Intelligence (AI) Concept
In the same vein, various sectors have incorporated artificial intelligence into their daily work. Although the future of artificial intelligence is yet unwrapping and holds so much potential, some industries have already embraced the ease that artificial intelligence represents in getting their work done.
Some of these sectors include the banking sector which we already talked about above and other financial institutions; the manufacturing sector, the aviation sector, the healthcare sector and overall medical science; the aviation sector and ecommerce. In all of these sectors and many more, machines do all the heavy-duty work and the impact on the effectiveness of their work cannot be overemphasized.
But what is in the near future for the concept of artificial intelligence? Which industries will this concept transform and how?
Industries That Will Be Most Transformed by Artificial Intelligence (AI) in the Next Five Years
When we say the near future, we like to be specific and to talk about the next five years. So, which industries will artificial intelligence affect and transform the most within this time frame and how will it do this?
1. Healthcare
Artificial intelligence is going to transform the healthcare industry in the next five years. As a matter of fact, it is already been used to analyze the enormous data that healthcare organizations have stored over long periods. This is a recurrent happening in most developed countries.
Furthermore, diagnosis and treatment have now gone along the lines of analyzing already existing data and conducting experiments via machines. Thus, artificial intelligence has a vital role to play and will ease the work of healthcare personnel to a large extent in the near future.
2. Ecommerce
We are already experiencing the evolution of new retail and general commerce experience because of artificial intelligence. Commercial transactions can now be initiated, processed and concluded using machines and minimal human efforts and this trend is spreading.
We even get product recommendations on Amazon and other players in the industry without stress and with the use of artificial intelligence. We are often satisfied with the results too.
Artificial intelligence is being used today for data analysis in the commerce industry and this trend will evolve in the next five years to a point where any worries about product deliveries, specifications and so on will be correctly dealt with by machines taking note of customer worries on the other side of the line.
3. Aviation
If there is one sector that will fail completely without artificial intelligence, it is the aviation sector. Most of the activities in the industry are solely AI powered.
Artificial intelligence has been recurrently used innovatively in this sector and this is about to skyrocket in the next five years. For example, self-service is now the normal way to get boarding passes at the airport thereby dispensing with any need for queues.
People can just move quietly to machines located at designated corners to enter their flight details and print their boarding passes. In this manner, the machines have reduced the work load of airline personnel through artificial intelligence.
Artificial intelligence is also becoming increasingly popular on the cockpit as a cybernetic copilot so the copilot can go to rest and allow the machines to assist the pilot through a flight.
These machines learn by what is fed into them and over time they get familiar with the pilot’s activities and can take decisions that a pilot normally would in the course of a flight. It is therefore safe to conclude that we are moving to the era when aircrafts will be flown by machines alone.
Artificial intelligence has also been used in aviation for weather forecasts, rebooking flights and aircraft evaluation. Artificial intelligence even helps to suggest alternate routes during an in-progress flight where the risk factors look bad. Chabots are now replacing travel agents on all topics from tickets to check-in hotels.
These trends are only going to move upward and in the next few years artificial intelligence would have revolutionize the aviation sector to the extent that the flight crew would be replaced with robots providing passengers with all that they need perhaps including entertainment!
The aviation sector is already in the artificial intelligence cloud but in the next five years, these efforts will be solidified to extents that will ensure passengers experience better flights and do not feel like danger is lurking but travel with confidence in their guaranteed safety.
4. Cyber security
Artificial intelligence in this sector is experiencing a trend of simultaneous negativity and positivity. Both organizations operating the cloud computing system and cyber criminals are engaging artificial intelligence for their different purposes.
As a result, artificial intelligence in the cyber security sector is experiencing an attack and defense era where cyber-attacks are prevalent and the only way to battle them is also by artificial intelligence.
In the next few years therefore, cyber-attacks will increase but cyber defense will increase also. Organizations will begin to use artificial intelligence to defend themselves against cyber-attacks.
Organizations will also be using artificial intelligence to make note of trends in these attacks and also to find potential causes of cyber breach so that they are dealt with once and for all.
More importantly, artificial intelligence will be used to defend our data against attacks for example by feeding signatures into the cyber security system that potential cyber criminals will be unable to decode in order to achieve their aims.
One of the future innovations of artificial intelligence in this sector will be the ability to spot cyber threats with speed. In this way, the potential damage is avoided altogether.
Since artificial intelligence operations are automatic, there can be no better way to combat cyber breaches because these breaches are detected before they begin to occur and as soon as the system suspects that they are suspicious.
They are then shut down and not allowed access to our systems without the cyber personnel even knowing. This is an especially important activity for all organizations. It is also time saving and positively redirecting for cyber analysts since the time freed up can be used on other responsibilities.
5. Human Resources Management (HRM)
This sector is perhaps the most efficiently influenced by the operations of artificial intelligence. The concept has been developed into an intelligent assistant in the work place but more importantly in the human resource (HR) departments of organizations.
It has been used in this wise to create chatbots that help undertake key HR responsibilities, reducing the work load for human resources personnel and positioning HR to be less about administrative tasks and more about adding strategic value to an organization.
The areas that artificial intelligence has improved for HR departments include recruitment, performance evaluation of new employees and employee education. Chatbots are now being increasingly used to acquire new talent to fill vacant roles in organizations.
This is especially efficient because it is time saving and also rid of bias, stereotypes and human observations. The process of going through prospective employees’ resumes and other sources is made less tedious for HR personnel with the use of artificial intelligence.
This artificial intelligence intervention also includes a voice command application that can provide information on a range of HR questions and organizational policies; a chat bot that can handle recruiting tasks such as suggesting interview questions or searching out candidates on LinkedIn, etcetera. Over time, when these candidates begin work, their performance can also be more properly evaluated without the risk of bias and stereotypes using artificial intelligence.
Organizations like IBM are already keying into this avenue for better performance management. This trend will only increase in the next few years, and soon artificial intelligence will be used for employee education as well. The chatbots will be constituted into self-service channels through which all employee worries will be appropriately addressed.
This will get rid of repetitive inquiries that only end up taking the time that HR personnel can use for other key result areas. Artificial intelligence is moving to a point of indispensability when it comes to performance evaluation of all employees. In fact, a grading system can be created and installed against which employees’ performance will be tested each day by the use of artificial intelligence.
In the next five years, as artificial intelligence transforms HR by enabling efficient data collection and data analytics, the ability of HR professionals will be enhanced to forecast and plan with data-driven decision-making tools; and come up with initiatives that positively impact the organization’s bottom line.
Conclusion
Artificial intelligence is an indispensable part of our lives today. It has made our lives better and we cannot underestimate its importance. In the same vein, we cannot underestimate its potential and as progressive as its effect is, it is going to herald an era of transformation for the industries mentioned and for many more industries.