From battling the Coronavirus to spotting potential car buyers, Artificial Intelligence is surprising the world every day.
AI in Radiology has emerged out of pressing need. With studies reporting an over workload of an average radiologist, that is, deciphering one picture each in 4 seconds on an 8 hour work day, the industry longs for better efficiency and productivity. Hence, AI is proving to be the essential driver for the development of medical imaging. At the moment, research studies show that deep learning can possibly exceed expectations by learning a hierarchical normal representation of a particular sort of image from an enormous number of typical tests. With automated detection, radiologists see pictures dependent on reading priority which speeds up the reporting process and improves patient results.
Automobile companies are now using Artificial Intelligence and Machine Learning to identify potential car buyers right from among the walk-ins and enquiries in showrooms. The technology is also being used to gauge consumer reaction towards newer models and concept cars through facial recognition systems to increase marketing and sales on a regular basis.
Maruti’s Mobility and Automobile Innovation Lab (MAIL) has now identified start-ups that can help it solve some of its basic operational problems, including customer preferences and responses. In fact, a start-up from Karnataka is currently helping Maruti in the identification of leads among queries and walk-in persons that each of their dealers receives every day.
With the global outbreak of the Coronavirus taking over 600 lives and leaving more 30,000 infected, a large amount of hope lies in the AI technology to make delivering healthcare more efficient. While AI has already helped epidemiologists flag early reports of the Wuhan coronavirus, researchers are currently using artificial intelligence to discover potential treatments for it through already-approved drugs as well as completely new compounds. In fact, researchers at the British artificial intelligence startup, Benevolent AI, seemed to have discovered certain existing approved drugs that might prove to be helpful in limiting the virus’s infection.
ITSM (Information Technology Service Management) platforms form the basic framework in the operation of any successful IT organization. They provide a way to not only track work, but also assist in prioritising tasks and solving issues. With AI changing the IT industry, ITSM too, and its related tools are driven by the data revolution. ServiceNow has currently announced two acquisitions of artificial intelligence startups to help ITSM organizations in scaling up the challenges ahead. The deals aim at advancing AI and Deep Learning capabilities to accelerate their vision of supporting all major human languages across the various companies and firms.
Discussions and debates of Artificial Intelligence potential across the financial industry only continue to proliferate, considering the hype around the technology. According to reports, the aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023, with the front and middle office accounting for $416 billion of that total. According to surveys, banks are aware of AI’s potential benefits and are planning to deploy solutions enabled by AI powered tools, application, and strategies.
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