AI and Machine Learning Influencing Every Major Industry

CIO Review APAC | Monday, July 25, 2022

With their distinguished characteristics, AI and machine learning technologies are extensively adopted by every industry to enhance their outcomes.

FREMONT, CA: Machine learning and artificial intelligence have become a significant part of every industry. These technologies are making a huge difference in companies by enabling companies to identify the advantages of databases for a wide range of purposes. The global AI space is expected to grow to 20 billion USD by 2025, leading to a drastic growth in the machine learning process. AI is assisting humans by providing new information in decision making, new perceptions in problem-solving, and offering insights to contextualise them.

The pandemic is a crucial reason behind the acceleration in the adoption of machine learning and AI technology in companies. It was evident in businesses and the workplace worldwide, largely affecting the economic sectors. Therefore, AI systems were used to retain the loss that occurred due to the pandemic and also to enhance the existing working process. The distinguishing features that make AI and machine learning powerful tools are as follows.

Contextualise Databases

One of the major potentials of AI technology is its ability to rapidly contextualise vast databases without human interference. Every industry is generating huge amounts of data and evaluating them for deriving applications from them. With this big data created by myriad sources, there is a massive growth in the databases. However, it is impossible for humans to reckon with all the various datasets. But machine learning can process the task effortlessly.

Work Ceaselessly

AI-based software can work continuously and analyse data without interruptions. It can learn algorithms even without the help of operators, and provide insights into all rising problems.

Improve Learning

The more the data is embedded into the system, the more it improves its learning. For example, in the medical industry, AI models are used to select optimal treatment plans for required patients. It compares the potential drug formulation by scrutinising every known factor, including lab results, and provides greater insights to the researchers.

Broader Applications

Machine learning and AI solutions are versatile and can apply to different sectors and changing conditions. They are applicable in every industry since technology is developing and influencing all of them. They help to monitor network security, scan connected devices, and identify malware before they are exploited. The solutions are also used to streamline existing processes and identify waste in supply chains, thereby creating business opportunities for new cost savings.

With these distinguished abilities, the advantages of AI technology and machine learning are extensively used across various organisations. The major benefits companies are witnessing are enhanced customer experience, improved decision making, innovation, cost savings, and increased productivity. In the pharmaceutical industry, AI and machine learning are benefiting by leveraging predictions and treatment outcomes by enhancing drug formulation and selection and managing chemotherapy. Thus, AI and machine learning are disrupting all industries to enhance their outcomes.

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