Forty two percent of companies now use Artificial Intelligence. Nearly 60% of these companies plan to invest more money in the technology.
Artificial Intelligence has been around for decades. However, the recent explosion of Artificial Intelligence language has reignited a huge interest in the innovation. AI has been transforming businesses left, right, and center, from marketing to SAAS.
In this guide, we’ll delve deeper into the largest industries leveraging Artificial Intelligence to increase production, lower costs or enhance marketing. Let’s get started:
Retail and E-commerce
Artificial Intelligence is famed for its ability to review data and make predictions. In retail and e-commerce, AI helps entrepreneurs analyze their customers. It then offers suggestions that can help businesses improve customer satisfaction.
Amazon, the biggest shopping site in the world, uses AI to improve product recommendations. If you have ever used the website, you’ll notice it recommends products related to what you buy regularly.
Amazon uses AI to determine what you’re likely to buy based on your past searches on the website. AI also analyzes customers’ preferences to help Amazon determine how to manage its stock.
When it comes to marketing, Amazon doesn’t need to do a lot of trial-and-error campaigns. It has tons of data about its customers. AI can analyze this data to help the e-commerce giant spend money on marketing strategies most likely to work.
Online Casinos and Sportsbooks
In online gambling, everyone is always trying to win. Artificial Intelligence is changing the industry with its disruptive solutions. If you play casino games, you have AI to thank for making it easy to find quality casinos.
The technology does the hard work of comparing casinos, reviewing betting odds, and personalizing your gaming experience. The folks at online-casinos.com use AI tools to help you discover top-rated blackjack sites in the US, the UK, Australia, South Africa, and other markets. AI tools are much faster at retrieving data. They’re also highly accurate.
Speaking of accuracy, some AI-powered betting prediction tools can predict sports accurately. The only catch is that they’re not very successful long-term. You can use the tools to find betting ideas. Still, conduct due diligence.
You might have already guessed this. Gamblers are not the only beneficiaries of AI technology. Most casinos and sportsbooks use the technology for personalization and customer service.
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Sportsbooks also use AI to create odds. Gone are the days when every bookie had a bookmaker. Now, AI can analyze large volumes of data to help make the spreads.
Software as a Service Companies (SAAS)
Big-name software companies like Meta, X (Twitter), Google, and LinkedIn have huge investments in Artificial Intelligence. And it is easy to see why. Artificial Intelligence is vital to the success of SAAS and PAAS businesses.
Artificial Intelligence analyzes people’s words on Google and pulls up relevant information. On Facebook and Instagram, AI analyzes users’ content to determine its suitability and relevance. It also helps spread information across the platform to people most likely to consume it.
Additionally, AI is necessary for the success of certain software-as-a-service businesses. Think of Google Maps, which helps people find directions to new places.
Google Maps are AI-powered, hence why they work so efficiently.
Google Maps aside, Google uses AI to make these products more successful:
- YouTube
- Google Assistance
- Google Photos
- Pixels
- Gmail and Ads
- Google Cloud
In other words, AI is one of the most important technologies at Google. That’s why when the company announced it would introduce a generative AI platform to counter Open AI, its stock skyrocketed.
The chatbot, initially named Google Bard, was renamed Gemini for marketing reasons. Gemini works like a search engine. It can create recipes, answer questions, and provide illustrations based on quick prompts.
Online Streaming Services
AI is the reason Netflix always suggests great movies to you. It is also the reason why YouTube playlists seem so seamless. These companies analyze your behavior for weeks. They also review millions of other customers. AI uses the data to create trends and patterns.
If someone listens to three pop artists consecutively, the algorithm will detect the trend and recommend more pop artists. If you switch to Hip Hop, and it can recommend both rap and pop songs.
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By analyzing human behavior, Artificial Intelligence makes it much easier for streaming services to increase engagement. You might log onto Netflix to watch one murder documentary. But after receiving similar recommendations, you could spend the entire weekend watching documentaries.
By improving personalization, AI helps streaming companies lower their operating costs. It makes marketing more efficient and may have a large role in growing sales.
Banks and Insurance Providers
Companies with large volumes of data all seem to be in love with AI. In the banking industry, machine algorithms scrutinize the data of millions of people every day.
Financial companies use the data to create people’s credibility ratings. They can also monitor your spending and savings habits to better determine products to sell to you.
When you visit a banking institution, there’s a strong chance your bank knows everything they need to know about you. They know your credit rating, savings records, loan history, and bank statement.
While banks can pull out your data manually, they use AI to speed up the process. They also depend on the technology to give you sound banking advice.
Healthcare
No, doctors aren’t using Artificial Intelligence to conduct vital surgeries. However, senior physicians now use AI to teach learners surgery procedures. Artificial Intelligence is gaining traction in health training institutions because of its cost efficiency, and visualization capabilities.
Additionally, AI is a great tool for analyzing large volumes of health records to help managers improve healthcare services. For example, doctors can use AI tools to observe how diabetes patients respond to different treatments. They can then use the data to provide the best treatments.
In the pharmaceutical branch of healthcare, AI has countless capabilities. Biotech giant Johnson and Johnson uses the technology to help customers with skin issues get the desired results. They also use it in the research and innovation of new medicines.
