Three Keys Industries Being Innovated by AI

Three Keys Industries Being Innovated by AI

When most people think of artificial intelligence, they think of sci-fi movies like Ex Machina where robots act human. Little do we know that artificial intelligence is already starting to become a major part of our everyday lives.

Startups like Baarb are beginning to use artificial intelligence in their development to make their user experiences more memorable. For Baarb, a platform that personalizes the travel experience for customers booking through their site, AI enables them to make these recommendations even more customized.

Though AI is just beginning to impact some industries, the change we will see is staggering. Imagine a world where a machine will be able to perform any intellectual task a human can perform. AI will power drones, help drive a car, translate between languages, discover new uses for existing drugs, trade stocks, do legal case research, and beat humans at Jeopardy. AI can already perform some of the above tasks and the world of artificial intelligence is progressing at a staggering rate.

If you’re wondering what industries will be impacted next, see the following three industries that are facing a rapid change:

Travel

Imagine having the experience where you log onto a travel booking website and it already knows what kind of airline you like, how you make your travel decisions based on price, and the type of hotels you like to stay at. This would save travelers up to four hours when booking, according to Brickel Travel.

One of the leading companies pushing artificial intelligence forward within the travel industry is Baarb. Their platform uses advanced cognitive computing and deep learning to know what your preferences are for each trip and understands your personality. This way they’re able to deliver the most relevant hotel choices.

Healthcare

The realm of modern healthcare is starting to see some drastic changes due to the implementation of artificial intelligence. Google’s DeepMind is revolutionizing eye care in the United Kingdom, and IBM’s Watson is tackling cancer diagnostics on par with human physicians. These AI systems use deep learning, a concept loosely mirroring how our own brains work by having AI software analyze exorbitant amounts of data and uncover patterns.

Though doctors won’t be replaced by AI anytime soon, it will provide physicians with tools to more efficiently assess patients. AI is already involved in mining medical data, diagnosing medical images, studying genomics-based data for personalized medicine, and improving the lives of the disabled.

One of the setbacks with AI in healthcare is that as medical imaging technology strives to take advantage of every new deep learning breakthrough, the challenge is that the computing technology on which it relies must evolve just as quickly. The company leading this charge is called Nvidia and they are confident that their processors are not only meeting the deep learning standards of medical imagining, but also pushing the industry forward as a whole.

Financial Services

The world where computers are trading our stocks already exists. Wall Street is already full of the latest algorithms trading every single second and they’re doing so at an alarming rate. These high-routine trades are made easier by algorithms when compared to maintaining client relationships.

Hedge funds have already been established that are based on artificial intelligence. The company, called Sentient Technologies Inc, spent nearly a decade training an AI system that can scour billions of pieces of data, spot trends, adapt as it learns and makes money trading stocks. The team lead by technology industry veterans from Amazon, Apple, and more, are betting that the software responsible for teaching computers to drive cars, beat the world’s best poker players and translate languages will give their hedge fund an edge on Wall Street.

As you can see, the goal of artificial intelligence is stemming to make our lives easier. The scary part is thinking about what jobs can be automated through the development of artificial intelligence. Though the technology will lack the ability to maintain some client relationships, it will be able to replace high-routine jobs like conducting case research at a law firm. Next time you’re looking for a new service to use, it’s time to find one that incorporates artificial intelligence.

This post is part of our contributor series. It is written and published independently of TNW.

This post is part of our contributor series. The views expressed are the author's own and not necessarily shared by TNW.

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