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The AI breakthrough in services industry

Posted by Anurag

Mar 15, 2019 7:40:00 PM

Artificial Intelligence in service industry

Artificial Intelligence is one of the major game changers with the increase in machine learning in industry. Its presence in this world has become a vital part of the education as well as heavy industry leaving a trademark to grow. This helps in making a decision and streamlining different operations to make it easy for companies to work in the industry. It covers the majority of capabilities in the industry, even after the fear of something new, it is leading the company. The industry is now familiar with its potential towards human lives and the latest trends that have a huge impact on work.

In the present time, AI is used widely in a number of sectors taking it to a new level. The business variety has made it possible to come up with award-winning software and application which are now becoming a lifeline for the market. This is taking a new phase in the services industry with the involvement of latest advancement cycle. AI plays an essential role and is continuing to do so in the majority of the field. This is now becoming the major point of the industries to grow in their field to ensure that they grow and reach a completely upgraded level. However, the actual impact of AI on the industry is something that many are confused about.

We have summed up a few industries where AI is taking over at a rapid rate and will completely submerge into it.

1. Cybersecurity

It is one of the topmost sectors that is dominated by the presence of AI in the industry. There is no doubt that companies are always under the attack of major websites that makes them suffer a huge loss. A single loophole can make it an extremely daunting task for companies to protect their site from cyber attacks. The companies use many permutations and combinations to secure their site from. But it can become difficult for companies to keep a track or analyze the overall security system. On top of that, improvement in the cyber world via AI technology has made it a self-learning and reasoning fashion for automation.

2. Banking

It was one of the sectors that hold the greatest value to the manual work and is far away from any sort of manual or automation work. However, it was around two decades ago, now is the time where banking has embraced the technology and is dependent on the automation work with precise security on the toe. With the introduction of AI in the banking world, it has increased the customer experience with the help of chatbots. Now, customer services are available for 24x7 without any delay to a customer query.

This has also streamlined the operation and interaction with the customers enhancing their experience a lot. Even the assistance provided by such technology is extremely remarkable with the convenience of the customer data management. Banks holds the data of the entire population without a single hitch in order to protect them. On top of that, AI is now moving towards phone, emails, legal documents related to bank services. Money laundering is another of an issue that is solved with the help of AI technology. It has managed to tailor the overall solution while taking it vice combat.

3. Healthcare

Now, this is the most remarkable industry that has embraced AI with open arms. The AI journey has been a great work process for the healthcare industry. There are a number of technologies that are using AI to grow and pinpoint any type of diseases that might occur with the help of computer vision. The use of natural language process has made it possible for the companies to grow and work on the safety of drugs given to the patients. Not only this, but pattern work can be easily handled by the machine language finding out from the overall population.

All the healthcare industry has to do is to gather information that can be used for interoperability which can make it an easy task. It will also help in providing security to the system in the data that have a promising breakthrough for overall industry use. This is making AI go on a new level to grow and thrive.

4. Telecom

Mobile phones are the basic necessity of human population. Every single individual requires some sort of source to communicate with others. AI has managed to work in a remarkable manner that has managed to enhance the experience of users. There is no doubt that with the involvement of chatbots in the industry, we are moving towards a point where things are sorted and clear. The satisfaction and experience of the users have gone from zero to a new level with the agents that are present 24x7.

Even the personalization and sales experience has gone to a new level with the involvement of AI. This boost and retention in terms of customer and revenue have made it easy for companies to rely on it. it holds a lot of power with the potential to grow in the pre-sales. Even the success rate is enhanced with the help of social media analyses of tools and feedbacks provided by customers. Even the brand image has increased with time and recommendation of the companies works well with AI.

5. Education

Yes, this is the one industry that one might feel that AI can’t have a hold of. But they are absolutely incorrect to measure its worth in the terms of advancement mindset of the industry. People are getting involved with the increase in education sector demand and AI involvement. The students are slowly enjoying their incorporation of AI with the most valuable industry. Over the generation, the whole dynamic of technology and education has changed. The change was obvious to grow and reach a new level.

The learning path is now increasing slowly but gradually in order to keep the changes in their level with the help of a proper provident of the sector. Even education technology is trying to harness this fundamental of AI to ensure that they grow and achieve a new mindset in the industry. The effective, dynamic and personalized manner in which the students are learning has made it possible for the industry to work on a specialized format.

The future of AI

AI has a secure and safe future as for now in the industry with the integration of support channel and services that already exist. They cover up the essential tasks for the employees for free and help in coming up with the opportunity for customer retention and delight. Even the experts are in awe of this technology in terms of the human-like capabilities. It holds potential allowing customers to work well with the interaction to the customer. The AI also works well with streamlining the processes that might be complex or easy to deal with. In short, we can say that industries are going to embrace all the major enhancements of AI while using their secret weapon. It is going to go on a long road without any interference from other technologies.

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Topics: technology in education, healthcare, Artificial Intelligence, AI, Banking & Finance, Cybersecurity

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