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How AI & Machine Learning Are Impacting Everyday Lives Of Consumers?
Speaking of Artificial Intelligence one might conjure images of giant robots from Spielberg’s films. Over the last ten years, the advancements in AI have been so rapid that it has now become an integral part of our daily lives from merely being depicted in the since fiction back in the early 90’s.
As per the estimates of the experts, AI is expected to generate over $15 trillion to the global economy by 2030. In case if you are wondering how AI has become integral part of our lives, think of the Amazon & Netflix recommendations. Amazon is delivering users with product recommendations that are mostly in accordance to the users’ interest & similarly Netflix comes up with movie recommendations which are of the user interest. Ever wondered how these companies come up with accurate recommendations on their own. These recommender systems make use of AI & Machine Learning powered complex algorithms.
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Now, let’s take a look at how Artificial Intelligence systems are impacting everyday lives.
- AI Powered Virtual Assistants
Virtual assistants have gained a lot of prominence over the last five years. Siri & Cortana are among the most extensively used virtual assistants. And lets’ not forget about the Google Assistant which we use for booking appointments & Uber rides. All these smart virtual assistants are powered by Artificial Intelligence.
- AI For Fraud Monitoring By Financial Companies
As the world is moving towards being digitalized the number of banking transactions that take place in a single day accounts to several thousands. In such a case, noting anomaly becomes very tough, & by the time it gets detected either your bank account balance would come down to zero or your credit card maxed out. To accurately detect threats & fraudulent transactions, financial companies are using AI powered fraud detection models which help in early detection & prevention of frauds.
- AI Powered Auto Pilot Systems In Airlines
Airlines department too makes use of AI powered solutions for auto piloting. This AI powered auto piloting software can even land commercial aircraft safely.
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