Artificial Intelligence (AI), and other related concepts such as predictive modeling, the internet of things (IoT), and machine learning have taken the business space by storm. According to a recent news article, AI contributed about $2 trillion to the global economy last year. The news article goes further to predict that it will contribute as much as $15.7 trillion by 2030.
In this post, we discuss some of the most unlikely businesses that are using AI.
1. Healthcare institutions
At the onset of AI in the healthcare industry, the technology was used to perform such tasks as data management such as collecting, storing, tracing and re-formatting patients’ data. In the modern world, AI is being to perform minimally invasive surgeries and virtual nursing. These not only reduce the burden on the medical professionals but also minimizes the number of trips to the hospital.
2. Food and beverage businesses
The food and beverage industry is to a large extent customer driven. One of the major challenges that the industry is facing is the switch from ready-to-eat fast foods to organic foods. This explains the use of AI and technology, such as the recent GPS tracking on chicken, which will enable consumers to know whether they are consuming organic and healthy foods.
3. Legal institutions
The legal profession is one in which the human factor is critical. However, AI has still found its way in the industry. Litigators are already using software analyze contracts to establish whether they meet a preset standard, performing legal research by reviewing documents, data mining, and predicting the outcome of certain cases. Legal bots are also being used to answer customer queries.
4. Smart agriculture
With the increasing human population, now more than ever there’s a need to ensure that there are enough resources. With the agricultural industry facing challenges such as food security issues and climate change, AI has been vital in such processes as precision farming. The goal of this kind of farming is to ensure that there is as much crop yield as possible with just a little investment. AI has been used to monitor the crops and the soil’s condition as well as predict the impact of certain environmental changes on the farms’ produce.
The conventional way of learning has changed drastically. Students can remotely attend a class if they are connected to the internet and have a computer. AI has also made education more personalized as students can get targeted responses from the teachers.
With more organizations becoming aware of the competitive edge the use of AI brings, we can only expect its adoption to expand to even more unexpected businesses.