AI is making its way into every industry, but some sectors are likely to see more noticeable and widespread implementation in the following decades. Here are 7 industries that are most likely to be transformed by artificial intelligence in the coming years.
Healthcare
Diagnostic, treatment and patient care are all being revolutionized by artificial intelligence. Machine learning algorithms are already able to analyze medical images with more accuracy than any human – helping to detect conditions like cancer earlier and better understand conditions like dementia. Some clinics have meanwhile been exploring personalized treatment plans based on vast datasets, revolutionizing a new approach to healthcare. AI wearables are being developed to monitor vital signs in real-time, allowing pro-active intervention to be taken. More controversially, AI may be used within neural implants like Neuralink to treat neurological conditions.
Education
AI is already being used in the classroom to help with lesson planning, scheduling and grading. Various education apps are meanwhile using AI to provide adaptive learning. While AI is likely to be a huge help to educators, it is also currently a threat, enabling students to automate tasks like essay writing and assessment completion. This has prompted a potential return to traditional paper exams as a way of testing knowledge.
Finance
Huge advancements are being made in finance as a result of AI. Within accounting, AI can be used to automate tasks like budgeting and financial forecasting. Within the field of investing, AI is being used to develop robo-advisors that can more accurately detect stock market and crypto trends and send alerts and tips as to where to put one’s money. Banks are meanwhile using AI to develop more robust fraud detection systems and reduce customer losses. Of course, AI is already being used for fraud purposes by criminals too, and this will need to be countered.
Security
AI is also being implemented into security systems. Advanced threat detection systems are now able to use machine learning to identify cyber attacks in real time and react. Reports into physical security also suggest it will play a big part in the future when it comes to surveillance and access controls. While this is likely to reduce crime, it could raise ethical questions about privacy and bias, which will need to be considered.
Transportation
AI is also currently being used in traffic management to help reduce congestion in cities. Meanwhile, logistics giants are already using AI for route optimization to save fuel and time. Self-driving vehicles are also certain to become a more common sight on the roads in years to come – these vehicles use AI for navigation and to detect dangers on the road. One day there might not even be a need to learn to drive. Would this be a good thing?
Manufacturing
Smart manufacturing machinery will be standard within factories of the future – sensors will be able to detect faults early and AI will be able to diagnose fixes. This will enable machines to be repaired early before they break down completely, reducing downtime. AI is also going to be key to the development of robots, which are already used in many manufacturing sectors. These robots will be able to soon carry out many intricate manual tasks performed by humans. This could greatly improve production, but could lead to many job losses.
Retail
AI has also started to be heavily used within retail. Online stores are already using AI to provide chatbots and personalized promotions. Inventory management software is meanwhile able to automate tasks like restocking and reducing overstock by analyzing trends in sales data. For better or worse, it may even be possible to automate the running of entire stores in the future.
