Industries Benefiting Most From AI Adoption And Why?

For a long time, Artificial Intelligence was viewed as the future, but now it is very much the present. AI has now emerged as a massive player in the technology world, a lot quicker than some may have first assumed, but it is transforming industries and the way businesses operate. It can easily automate large tasks, extract data efficiently and accurately, as well as becoming able to use analysis to predict outcomes.

This allows those who are using AI to gain competitive advantages over their markets, and the adoption is becoming widespread. From healthcare to light entertainment, AI usage is changing the way that businesses operate. But what industries are benefitting the most from AI adoption, and why are these specific industries garnering this success?

 

1. Online Entertainment

Social media is no longer the new technology on the block. AI is. It is revolutionising how media and entertainment are being created and consumed, altering the algorithm for everyone.

AI can be used to offer better recommendations for adverts on social media or on search engines, such as those found in video streaming platforms. Thus suggesting more tailored and better shows to watch based on your viewing habits. But the power of AI does not stop there when it comes to entertainment. AI has become increasingly handy for Content Creators and influencers to use when generating scripts, music, and other assistive tools when creating posts. This allows for creativity without reducing production time.

 

For businesses in the entertainment industry, there is an increasing demand to use AI technology to allow for more sweeping audience analysis to inform marketing experts more easily about trends that may influence future content.

 

One of the biggest industries in entertainment to make use of AI has been online casinos. They use AI technology primarily for improvement in engagement, but it can also be used for improved safety for the user. AI can provide online casino businesses with technology that allows them to personalise game recommendations for their customers through player behaviour data. They can offer dynamic odds and rapid price changes that are tailored timeously and promotionally for the customer using AI tools. Responsible gaming tools and fraud detection are other forms of technology that have been greatly enhanced by AI, thanks to its ability to monitor and track both players and hackers to trigger support interventions or alert the casino to unusual betting patterns. AI can also streamline payment methods, allowing for quicker transactions and safer betting, something those enjoying online casinos in New Zealand can benefit from.

 

2. Healthcare

One of the industries that has been helped and transformed the most by AI is healthcare. It is evident right through this industry the impact AI is having, from drug discovery through to patient diagnostics.

 

AI is improving the overall treatment of patients while lowering the cost for the industry as a whole. Predictive analysis is being used as a strong tool to help with managing patient deterioration and the likelihood of returning diseases using data from health records and other analytical evidence. This allows more proactive healthcare to be used, which in the long run provides a cheaper service. Likewise, medical imaging is becoming completely transformed by AI, which is able to accurately analyse imaging data such as X-rays or MRIs and accelerate diagnosis, reducing reporting times from 6.1 minutes to 3.42 minutes on average. Whilst many may find it hard to believe, AI can actually outperform most humans when doing this sort of task.

 

3. Finance

Banks and financial organisations have managed to quickly and securely adopt a lot of AI infrastructure into their practice also and have managed to revolutionise the industry by doing so. AI has allowed banks to widely adopt its use to make services quicker and more efficient. More than 70% of financial institutions now use AI tools in some capacity, showing the sheer volume of adoption within this industry sector.

 

The ability of AI to analyse and detect fraud protects the bank and the users, whilst automation of credit checks through AI programmes and tailored recommendations for investment opportunities are all benefits that AI is offering to this industry. The ability of AI to create machine learning models that offer more personalised advice for customers’ finances and manage their portfolios with ease provides a benefit to both the user and the bank, as they spend less time and money on these services. Likewise, 24/7 chatbots and virtual assistants help answer frequently asked questions and facilitate routine conversations between the business and its customers.

 

On a larger scale, AI can be used to monitor and track prices in the stock market as well as wider market trends as a result of geopolitical decisions and impacts of the wider world on the global economy. This allows banks to obtain information more easily and impacts their decisions when it comes to interest rates. The assistance of AI in the finance industry greatly reduces costs while helping to improve security. There remain questions about its reliability, but this seems to be a fair trade-off for the sheer volume of customisation that this technology can offer customers.