- The buzz created by the term, “Artificial Intelligence” shows no signs of dying down. As per statistics, it will continue creating a buzz even in the future. Artificial Intelligence (AI) has already entered our lives in the form of self-driven cars and voice assistants, but it is expected to have a bigger impact on our lives in the future and shape all aspects of the same. How? Let’s explore that in this blog post.
- If you are already blown away by the magic that Artificial Intelligence (AI) can create, be prepared to be blown away some more with the help of this blog post.
- In this post, we will be covering how AI will shape our lives in the future by determining its impact on the Healthcare industry, retail, banking, and new job prospects.
Impact of AI on the Healthcare Industry In The Future
- Artificial Intelligence may lead to more accurate results (of treatment) and less expensive treatments in the future. It is said that Artificial Intelligence may help prevent 86% of the mistakes in the healthcare industry. With the help of analytics, Artificial Intelligence (AI) may help us analyze crucial data related to health and prepare for treatments accordingly. For example, data on pollution levels in the air could help us understand its impact on our health. AI could help us with something that would prevent millions of people from contracting severe diseases. How? It could help us by providing recommendations for preventative treatment or medicines that could save many lives.
Impact of AI on the Retail Industry In the Future
- It is said that AI could help retailers save more than $340 billion by 2022 if they use the technology wisely. Not only this, but investments made on AI as far as the retail industry is concerned could also lead to a rise in revenues by 38% in the future. AI-powered drones could replace delivery executives and enable faster delivery. Amazon is working on such technology but there’s no confirmation yet on the launch of such drones. There will be more customized services available in the future based on previous trends and that could make shopping a less cumbersome exercise for customers. The credit for all of this will go to Artificial Intelligence.
Impact of AI on the Banking Industry in the Future
- As far as the verticals Business Intelligence and Security are concerned, Artificial Intelligence is going to bring some much-needed changes which will help reduce costs, boost efficiency, and improve customer satisfaction. What if Robotic Advisors greeted you for your wealth management needs? Yes, that is supposed to be a normal thing in the future. The result? A lot of time will be saved both on the part of the wealth managers and the customers. AI-powered banks of the future are going to provide you with more personalized banking products and services, much like what is expected in the retail sector too. Imagine walking inside the bank without your ID card but being greeted by your name? That’s how AI will cast a spell on all of us.
Impact of AI on Job Prospects in the Future
- If you are worried about AI making you jobless in the future, you may need to think again. It is said that AI will create new jobs and job prospects and make our lives easier and even more comfortable. According to the World Economic Forum, AI will give rise to 58 million new jobs based on Artificial Intelligence by 2022. AI is supposed to perform tasks that are usually performed by humans but you don’t need to worry about losing your job to AI at all. Yes, but you may need to keep upgrading your skills to walk hand-in-hand with technology.
- Artificial Intelligence is knocking on our doors to shape our lives in the future. But, it is our duty to be prepared by upgrading our skills and knowledge base to welcome AI with open arms. In a world where lives will be impacted by technology to a huge extent, we could not afford to be technologically challenged. Our eyes are going to witness more technological advancements and we should be grateful to technology for being such a wonderful companion. Now, shouldn’t we?