AI in Business

Updated on October 04, 2023

• 10 min read
• 92

Written by Ethan Wilson

How AI is changing the world?

Artificial intelligence changing the world is inevitable at this rate. It’s important to remember that this technology has been around and studied for decades, but what we’ve seen recently is a big turning point for society. While many people are embracing the technology, there are just as many others who are fighting against its rapid progression. What we’re seeing with artificial intelligence right now is its expansion into many different aspects of our lives. It could be an app, immersive experience, industrial automation, or mere entertainment; the use cases continue to stack up. For this article, we'll take a look at the question: How will AI change the world? This will include plenty of insight from industry experts with a general overview of what society can expect as new developments in AI unfold.

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There’s no shortage of entertainment when it comes to the number of applications for artificial intelligence. However, when it comes to world-changing events, you'll see many new developments across a long list of business sectors. We're already seeing this happen as we speak, and the number of possibilities continues to rise with each passing day.

It’s moving at a quick pace, and people are starting to wake up to the many benefits it has to offer our everyday processes. You can find more details about some of AI’s evident benefits down below.

Improvements in healthcare

Technology is a crucial aspect of modern healthcare. Many of the tools and practices in place are pretty effective, but there's always room for substantial improvement. Experts in this field are always looking for ways to improve healthcare processes, and AI has proven to deliver some of the best results.

Integrating AI tech into doctors' machines for diagnosis, surgeries, X-rays, and many other operations will help improve healthcare outcomes. Moreover, artificial intelligence will also be able to aid doctors, providing more accurate and efficient healthcare systems for patients.

Refinements in marketing

The world of marketing has gone through many changes and improvements over the last 10 to 20 years. From professionals to individuals, marketing has been accessible to all, and it’s easier to navigate than ever before. Although this is true, it still comes with a substantial learning curve for the everyday user.

This leads to a lot of money lost with no results, primarily due to user error. Nevertheless, this is a space where AI has proven to be helpful. From simple tasks such as keyword research to finding a target audience and designing a custom campaign, AI has many applications here.

Making strides in robotics

How AI will change the world is a question we’re all asking ourselves for the long term, but in some cases, it’s pretty clear where to look. Robotics and artificial intelligence have always gone hand in hand, and it’s something much of the general public has been aware of for quite some time.

As mentioned earlier, healthcare and businesses like engineering, manufacturing, transportation, and more will greatly benefit from this. Some argue with the mix of AI and robotics, but the positive applications are endless for our demandingly tech-driven future.

Revolutionzing construction

An industry that’s still go through a slow transition into the digital age, construction can benefit greatly from what AI has to offer. A few of the immediate benefits can be found in improvements with 3D modeling, increasing efficiency, and much more.

The technology will also help to mitigate risk in construction sites. This can be accomplished in more ways than one such as identifying product compatabilities. Data analysis will soon be a breeze for construction sites as well. Overall, the industry will see a revamp in efficiency between everyone involved from designs, builders, project managers, and more.

Streamline banking

From personalized customer service to task automation and conversational banking, the possibilities are vast for the banking industry. AI can easily help with analyzing customer data, handle account actions and even reset passwords.

This will lead to a much faster experience for customers, while giving employees more flexibility in how they manage their day. At this time, there are a few primary use cases for AI in banking. Some of these include handling account inquries, money transfers, credit score montioring, loan applications, fraud prevention, customer service, and more.

Aside from the current known benefits of the technology, many people are speculating what AI will be capable of in the near-to-distant future. Some aspects of this roadmap are already clear, while others will come as eye-opening changes to how we live as a whole.

How will artificial intelligence change the world in the future?

At the moment, most people are caught up with what’s going on with AI right now. When you look into the future, the scope of this topic widens considerably, making way for many different angles of discussion among industry professionals and everyday people. The information listed below comes from a survey published by Oxford University on the evolution of AI.

• AI will be fully capable of writing error-free and factually correct school essays by 2026
• Self-driving trucks will be in full effect with the help of AI by 2027
• Humans will be outperformed, and job loss will increase in the retail sector by 2031
• The creative capabilities of AI will match or exceed the likes of many modern creative minds by roughly 2050

One could say this is equally exciting and frightening, but the future will heavily incorporate artificial intelligence no matter what. We’re already seeing numerous positives behind the technology, and we've barely scratched the surface of its capabilities. Many people recognize the power and adaptability of the technology, which is also why experts suggest treading carefully moving forward.

Some believe AI will create an inevitable dystopia if not controlled properly. This could be true to some degree, but this is why industry professionals are already on top of developing protocols. In the list below, you’ll find a few recommendations from experts to improve AI’s benefits for the foreseeable future.

• Create an AI advisory on a federal level to create policy recommendations
• Advocate for more data access to researchers without compromising the privacy rights of users
• Develop lawful penalizations for the malicious use of artificial intelligence
• Integrate widespread principles surrounding AI tech and new developments
• Increase government funding for unclassified research in AI
• Cooperate on a federal and state level to integrate policies that work for everyone

These are needed to ensure that AI’s improvements roll out as smoothly as possible. It’ll be a rocky road to some degree, but as adoption rates increase, we’ll start to see more noticeable improvements in different aspects of business and society.

In Summary

The complex question of how artificial intelligence will change the world comes with a long, drawn-out answer. However, this article provides a comprehensive look at what we can expect over the next 10 to 20 years.

Business sectors will be the first to see a heavy impact, but the positives heavily outweigh the downsides. This will tackle many of the mundane tasks across different industries that are known to require a lot of manual work.

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Written by Ethan Wilson

Author, Expert in Email Strategy and Artificial Intelligence