Artificial intelligence, coupled with machine learning, is transforming virtually every public and private sector. No one can get online today, conduct searches, make purchases, or do any other business without some impact from AI; the healthcare, financial services, retail, insurance, and travel/entertainment industries use it; government agencies at all levels use it.
And this transformation will only grow as the technology improves and becomes more sophisticated. Here are just 9 use cases currently in play.
- Security of Data
No one needs to be reminded of the major data security breaches over the past few years. Malware is a pervasive threat to everyone and every organization that has any type of web presence and shares or gives access to data in any way. But here’s the thing. Only between 2 – 10% of the code for these malware breaches actually changes. AI and ML are getting much better at detecting these data breaches because the learning model of only 2 – 20% is small enough. AI and ML can now predict which files contain malware with continual improved accuracy and also detect anomalies for further investigation.
- Financial Investment/Trading
It’s all about using big data to analyze and predict trends in the market, and both “big boys” and individual investors are now privy to this data. As this technology becomes more sophisticated, trading at a profit becomes a much greater possibility, and the speed at which it can be done is a huge factor. The Long-term impact on global markets will be huge.
- Healthcare
Monitoring devices which patients can wear at home and which send data to providers is only one facet of the use of AI and ML. The technology is now being used to collect oceans of data which can predict who is most at risk for serious health problems/diseases, as well as where and when major disease outbreaks may occur. In addition to being a diagnostic tool, AI can be used to collect and aggregate data and identify the best treatment protocols based upon individual genetics, geography, lifestyle, etc.
- Detecting Fraud
This is a major concern for industries such as insurance and web-based exchanges of money. PayPal uses AI and ML to counteract money laundering through alerts of suspicious activity based upon data analytics. The insurance industry uses AI and ML to flag suspicious claim activity, based upon data gathered over time that identifies potential fraud.
- Personalization in Marketing/Retail
Consumers spend a lot of time accessing websites and looking for products. Often, they do not buy – they just look. While this seems a bit creepy, Ai kicks in. You will see ads for these products, as well as similar items all over the place when you access any of your “spots” on the web – your email, your social media accounts, etc. Plus, you will then be the target of email offerings, and specific discounts/special offers based upon your purchasing history and those who also fit your profile. It’s called segmentation and personalization.
- Online Searches
The information above applies to any search a consumer conducts online as well. But, in addition to that, search engines track which results you actually open or if you then type or speak in different search terms. It keeps track of this through AI, in an effort to make your search experiences better in the future.
- Natural Language Processing (NLP)
Because machines can be programmed to learn as they go, the opportunities for processing language are becoming more and more sophisticated. Bots now handle customer service questions and issues; they also take food orders and present other options; Alexa and Siri provide information based upon users’ verbal questions, conducting research and finding places, recipes, music, and more.
- Smart Cars/Cities
While still in its infancy, AI and ML are predicted to drive our cars, to operate “smart” cities and transport, and more. Imagine streets and sidewalks being automatically melted following snow and ice events; imagine your car driving itself and conforming to all traffic signs and responding to all potential dangers; imagine being privy to all traffic and road issues, along with alternate routes being planned and then taken, without any of your intervention.
These are the cities and towns of the future and they are not all that far off.
- Personal Security
Anyone who travels by air knows the drill. Long security lines, taking off shoes, emptying pockets, and going through those detectors. Not to mention the falsification of documents and other breaches that airlines and governments often have to deal with. AI is already in use somewhat here. Some passengers, based upon their profiles are now given Pre-Check, because they are low risk. This will become more sophisticated as the technology does. There will soon come a day where passenger information/profiles/backgrounds are all housed in a huge data system, and AI/ML will only flag those with anomalies for further checks.
Just the Beginning
AI and ML will clearly transform all aspects of our lives as it moves forward. We will experience amazing changes in the information we get, the business we conduct, and our personal lifestyles. Along with this comes some issues, obviously, one of them being intrusions into our privacy. We shall see how all of this unfolds.