Wednesday, August 24, 2016

How 3 Industries are Leveraging Artificial Intelligence to Improve Business

Healthcare, retail, and legal. What do these industries have in common? Companies in these spaces are starting to recognize the advantages of incorporating Artificial Intelligence into their business strategy go far beyond just tech companies. While AI can benefit virtually any industry in some way, these are the three industries that have really capitalized on this technology, paving the way for others. Take a look at a few examples:

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1. Healthcare- AI is making great strides in the healthcare space, and IBM's Watson is one of the well known players there. Conducting cancer research and patient care, helping doctors diagnose mental illnesses and more, analyzing x-ray and MRI scans. These are just a few of the things AI is already doing in the doctors office. Looking toward the future, engineers and developers are finding ways to leverage connected devices and the Internet of Things to assist users with their health. With devices that can track almost every aspect of your health, AI can turn all that scrambled data into meaningful content such as meal suggestions, exercise plans, etc.

The big question remains, are computers going to replace human doctors? The verdict is still in the air, some people believe AI will replace doctors, and some believe that AI is a great aid to doctors, but will never completely replace the need for human intervention. 

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2. Retail- AI is quickly becoming your new shopping guru. From clothes, to travel, customers can ask a question in natural language and the Virtual Assistant will try to provide the most accurate response, or escalate if the need arises. Companies are also moving to personalize each customers unique experience with the help of AI. Providing appropriate suggestions, at the appropriate time not only improves the over customer satisfaction, but also increases sales.

Another example includes cable providers using AI to start off the conversation. A Virtual Assistant will answer the call and ask a few questions to find out a little about what the customer is looking to accomplish. After answer the questions in natural language, the VA guides the customer to the right place, freeing up agent time, and eliminating some of the frustration on the customers side. 

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3. Legal- Many legal firms and lawyers are using Artificial Intelligence to quickly analyze and interpret data. Big data is making it necessary to change the way we are able to attain information. There is so much knowledge acquiring daily about the law, Artificial Intelligence is working to make it easier to sift through. According to a Forbes article, two lawyers developed a way for legal professionals to research rulings made by specific judges in order to find  a judge that would be most sympathetic to their argument. 

Legal departments within companies can benefit from Virtual Assistant technology. Click here to watch a short video of the CEO of noHold discussing how VA's are impacting the legal sector. 

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