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Will Artificial Intelligence Affect Future Industries?

by Owen Marshall 14 days ago in artificial intelligence
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As a society, we must embrace this technology and take advantage of each system to better our working lives

Artificial intelligence is a field developing at pace, which means those studying computer science courses will have many career opportunities after graduating. From there, alumni will join specialist teams and continue evolving artificial intelligence technology that will improve industries across the world.

With this in mind, let’s look at the possibilities of how AI could change industries in the not so distant future.

Education

The education sector is no stranger to artificial intelligence. Right now, this technology is used in various tools that help develop skills and testing systems. For example, schools are currently making good use of software, games, and programs, such as Cognii, which adapt to each student’s particular needs. If they struggle with a specific topic or subject, the system can highlight this and encourage further studying.

As this technology progresses, we can expect AI to continue streamlining the education process and make learning an easier, more enjoyable activity for students of all ages. Education will know no boundaries. We could one day be faced with robotic teachers, real-time language translation, and personalised learning algorithms.

Retail

Artificial Intelligence has already been implemented in retail businesses across the globe. There are systems currently in place that allow for smarter and more efficient ways of making pricing decisions, optimizing product placement, and managing stock levels.

Moving forward, smart technology will only continue to shape the retail sector, and the use of AI is expected to grow by 34.4 per cent from 2020 to 2027. As scientists develop artificial intelligence technology, we could see AI assistants and virtual reality replace high street shopping by 2050. Online shopping is already such a crucial aspect of modern-day life, so it’s not outrageous to think that one day we might make all purchases from the comfort of our home.

Using a VR headset, shoppers could try on clothes in virtual dressing rooms and consult AI shop assistants when in need of guidance or advice. As well as this, it’s thought that online deliveries could be revolutionised by flying robot drones that drop parcels into back gardens. That would be an incredible thing to see.

Healthcare

When it comes to the healthcare sector, AI is already at work to produce life-changing results. In healthcare organisations across the world, artificial intelligence is used to analyse large amounts of data (such as images, clinical research trials, and medical claims) to identify patterns and gather vital insight.

From simple laboratory robots to comprehensive surgical robots, countless lives are being saved every day with the help of artificial intelligence, and this will only grow as more time and money is spent on developing different technology.

Ultimately, the future of artificial intelligence within this field will revolve around enhancing patient engagement, streamlining care, and improving the productivity and quality of the care given by providers. Artificial intelligence could assist with many tasks in the future, from answering the telephone to making clinical diagnoses.

Manufacturing

The use of AI will grow rapidly in the manufacturing sector, as strong outcomes and results have already been proven. Experts predict AI will boost economic growth by an average of 1.7% across 16 industries by 2035.

Currently, clever machines are used to improve and automate production processes, influencing quicker decision-making, better safety precautions, and high-quality improvements. With every manufacturer’s goal being to reduce risks and improve production efficiency, the role of artificial intelligence in this sector will continue to intensify.

Specialists predict that this industry will be close to completely automated by 2050, with machines having a flawless capability to anticipate potential disruptions to supply chains, spot and fix issues with equipment, and track core key performance indicators (KPIs) such as production rate and scrap rate.

Finance

The finance sector is already being transformed by artificial intelligence, making relevant tasks and duties much easier for those working in the industry. From fraud detection and credit decisions to risk management and algorithmic trading, there’s a certain expectation for AI technology to continue shaping the way the world handles finances.

As powerful systems are introduced, there’s a worry that artificial intelligence will replace the need for humans to operate within the financial industry. This is incorrect. While AI can indeed do all the things mentioned above, each outcome will need to be checked and verified by a human.

Are humans at risk of losing their jobs?

“Robots will take our jobs!” is a comment that’s made often whenever the topic of artificial intelligence is bought up. It’s true this clever technology will be able to mirror some duties and tasks in certain industries – even more so in years to come as the systems continue to progress – but there are key aspects of human behaviour that machines cannot imitate.

Humans can imagine, anticipate, feel, and judge changing situations, and therefore, the use of artificial intelligence in sectors around the world should supplement human intelligence, not replace it.

Lianne McLaughlan, Senior Marketing Manager at Heriot-Watt University, said: “We’ve seen a huge increase in enrolment onto our computer science courses, with more people taking an interest in Artificial Intelligence. Relevant career opportunities are ripe right now, and it’s exciting to see where this goes."

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Owen Marshall

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