The function and popularity of Artificial Intelligence are soaring by the day. Artificial intelligence is the ability of a system or a program to think and learn from the experience.
Copyright: simplilearn.com – “AI Applications: Top 14 Artificial Intelligence Applications in 2022”
AI applications have significantly evolved over the past few years and have found their applications in almost every business sector. This article will help you learn the top artificial intelligence applications in the real world.
What Is Artificial Intelligence?
Artificial Intelligence (AI) is the machine-displayed intelligence that simulates human behavior or thinking and can be trained to solve specific problems. AI is a combination of Machine Learning techniques and Deep Learning. AI models that are trained using vast volumes of data have the ability to make intelligent decisions.
AI Facts and Figures
- According to Statista, revenue from the artificial intelligence (AI) software market worldwide is expected to reach 126 billion dollars by 2025.
- As per Gartner, 37% of organizations have implemented AI in some form. The percentage of enterprises employing AI grew 270% over the past four years.
- According to Servion Global Solutions, by 2025, 95% of customer interactions will be powered by AI.
- A recent 2020 report from Statista reveals that the global AI software market is expected to grow approximately 54% year-on-year and is expected to reach a forecast size of USD $22.6 billion.
Let’s now take a look at how AI is used in different domains.
What Are the Applications of Artificial Intelligence?
Here is the list of the top 14 applications of Artificial Intelligence:
1. AI Application in E-Commerce
Artificial Intelligence technology is used to create recommendation engines through which you can engage better with your customers. These recommendations are made in accordance with their browsing history, preference, and interests. It helps in improving your relationship with your customers and their loyalty towards your brand.
Virtual shopping assistants and chatbots help improve the user experience while shopping online. Natural Language Processing is used to make the conversation sound as human and personal as possible. Moreover, these assistants can have real-time engagement with your customers. Did you know that on amazon.com, soon, customer service could be handled by chatbots?
Credit card frauds and fake reviews are two of the most significant issues that E-Commerce companies deal with. By considering the usage patterns, AI can help reduce the possibility of credit card frauds taking place. Many customers prefer to buy a product or service based on customer reviews. AI can help identify and handle fake reviews.[…]
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