Ever since the era of AI, innovations have become extremely fast-paced. We see it in marketing, customer service, finance, technology, and healthcare. It’s the backbone of technologies like big data, IoT, robotics, and the nascent Generative AI. Thanks to Artificial Intelligence capabilities, nothing has ever been easier than today’s access to information and its timely usage.
It’s also a fact that the increase in AI use is leading to confusion and fear among people not equipped to scale up to the new AI-driven world. AI is never going to take a back seat from now. It has inevitably become an integral part of major sectors of human life. AI has been integrated with many enterprise-scale businesses for their day-to-day mundane activities that are repetitive by the power of AI automation techniques.
In such a situation, it’s particularly important to know how AI can influence and change the lives of people for the betterment.
AI in the Health Sector
Trained LLMs and Big data analysis capabilities of AI have made it possible to analyze and accurately predict diseases as it can process numerous data at the same time and give a fast and accurate diagnosis, thereby saving time and the lives of people. It also helps in providing patients with personalized treatment plans.
AI in Education
The ability to identify and improve a person’s learning technique is complimenting how effectively one can educate oneself through AI-driven educational games, personalized learning platforms, chatbot assistance, and automatic grading and feedback systems. AI systems identify learning gaps by analyzing student performance data so that they can provide personalized study plans. AI will ensure inclusive learning because it has no limitation in providing support to students at any level of understanding. This signifies that there is no longer a need to wait for a mentor’s time and energy to resolve skill gaps, doubts, or other challenges. AI can make education and upskilling more feasible without the need for immense trainers in the field.
AI in Climate Prediction
AI algorithms can evaluate data from various sources, such as weather stations, satellites, and ocean buoys. Thus, this capability of handling these big data helps in improving forecasts. By examining weather patterns, the impact of climate change on biodiversity, and risks of extreme weather events could be predicted, helping us to make informed decisions. It aids in the design of energy-efficient buildings, hence optimizing resource utilization. The AI model enhances climate simulations, which aids in long-term climate predictions. By understanding these climate change impacts, more effective climate adaptation techniques could be rolled out.
AI in the Business Sector
Artificial Intelligence (AI) is capable of accurately predicting where and when it is best to make decisions to improve overall business gains. It can analyze and determine the reasons for the success and failure of business models. It enables managers to make informed decisions through market research and providing corrective solutions to business challenges.
AI in Data Privacy and Protection
Unrestrained data use for training and modeling AI Systems increases the chances of exposing personally identifiable information (PII). AI plays a significant role in data privacy and protection. To tackle this situation, personal data could be encrypted for training purposes. A data anonymization technique called differential privacy adds noise to training data, making it difficult to re-identify specific individuals. Homomorphic encryption is another method for privacy-preserving machine learning. It allows computations on encrypted data without decryption. In federated learning methods, AI models are trained on local devices keeping the raw data private, and models are integrated centrally.
AI in Media
With the introduction of Chat-GPT’s AI writing capabilities, fields like journalism and even scriptwriting have reaped benefits. The two main aspects that are now being used by different content streaming services are Personalized content development and content recommendation. This will boost the business’s profits. AI-modeled tools are revolutionizing the media industry. These include automated 3D animation tools and AI-powered music composition tools.
AI in the Financial Sector
In financial institutions, channels such as AI chatbots, automated emails, and AI voice assistants assist in clarifying customer queries, resulting in more customer satisfaction. They also provide more personalized guidance to customers for most of the common queries that are prominent. The data entry tasks in these institutions could also be performed by Robotic Process Automation, eliminating time-consuming procedures. Fraud detection, accurate prediction of market conditions, and timely audits can be done through AI. AI-powered big data analysis will assist traders in mitigating risks and investing in proper assets.
AI in Cleaning Services
The invention of robotic vacuum cleaners that can smartly schedule and optimize the cleaning process without the supervision of humans has become an ordinary thing. It can also make real-time adjustments as it learns data through foot traffic and usage patterns.
AI in Manufacturing
Adaptation of AI leads to speedier production and predictive maintenance of the equipment used. It can collaborate with other people to accomplish tasks quickly and precisely. It takes the repetitive parts and free human counterparts to focus on their creative tasks.
AI in the Retail Sector
AI helps retailers create and automate processes, lowering costs by automating tasks such as inventory tracking, supply chain management, and routine customer trends. It can also sustainably channel energy usage, thus reducing wastage and minimizing environmental impacts.
Areas where AI can make a notable change are endless. At the same time, the fear of AI displacing human jobs will prevail, as AI is potentially improving its capabilities day by day.
Challenges faced by the massive use of AI include the possibility of data breaches in the data provided for AI training and model generation, the possibility of biased prediction, computer power and resource constraints, the misuse of deepfakes, automated weapons falling into the wrong hands, and so on.
One way to tackle data privacy issues in training data is the use of Infosys Enterprise Data Privacy Suite (iEDPS), a comprehensive privacy and data protection product. This patented Infosys product gives capabilities to diagnose, design, deliver, and defend privacy and security risks. Data masking is a key feature provided by iEDPS to encrypt data before it is taken as training data. This will help in securing highly sensitive datasets before their training and modeling phases. Many masking algorithms present in the product will help to accurately mask data based on its behavior. The discovery feature in iEDPS will discover PII using AI and NLP. Data generation is also a feature offered by iEDPS, which will help create a tremendous amount of training data sets that will mimic the real-world data, thus ensuring data privacy.
We must ensure that the training data is diverse and includes the underrepresented group. To mitigate AI biases, Collaboration among researchers, policymakers, and practitioners is required; the workforce should be able to scale up and utilize AI to do mundane tasks while humans do the critical thinking and decision-making part, as intuition and initiative are some of the soft skills that are exclusive for humans. Ultimately, considering the massive potential of AI, we must use this technology responsibly to advance human knowledge and capabilities at an accelerated pace.
