The Importance of Artificial Intelligence in Modern Industry

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Artificial Intelligence consists of innovative and advanced technologies by which machines are getting superior power for performance. In this digital world, data is the key point of any business or industry. We need to structure it to make a reasonable decision by identifying extreme business insights. These insights help reinvent the ways of production, manufacturing, and sales to make a revolution in any business. Artificial Intelligence has accelerated the development and profit in different industries and sectors. Starting from healthcare then moving towards finance covering minerals exploration and optimizing resources, AI has done remarkable work and invented innovation in almost all the sectors.

Over time more and more industries are at a peak in generating revenue after empowering AI-enabled technologies. Companies in the ceramics, automotive, energy management, and food and beverage markets are already benefiting from the advantages of implementing AI through machine learning algorithms.

Here are the most known companies that use Artificial Intelligence.

Alphabet:

According to International Data Corporation AI has generated 59% revenue i.e $12.5billion for Alphabet. It has applied artificial intelligence in the cameras of smartphones. They have made a feature in the lens of the cameras so that it can detect the object in front of the camera. By this feature, the user can put the object in front of the camera, with a single click the camera will identify the object so that the user can come to know about that object. It includes different libraries to share a pic and a machine learning approach that prevents the cutting of calls in weak signal areas. These latest features have made a new advancement for consumers and revolutionized the tech and mobile industry.

BAIDU:

They created it in 2000 (2 years after the creation of Google) with the 3rd most popular search engine in the world. Baidu is investing millions of rupees on projects based on AI. It has increased its investment in R&D to $464millions. Such a huge amount is being spent by BAIDU to establish itself as a fully AI-based company. APOLLO is Baidu’s operating system for driverless cars. It has also initiated its project DuerOS which will be empowered with world-class AI speech and image recognition technology. Because of such progress, it has become successful in building three smart speakers that don’t need Alexa or Google Assistant. (Little Fish VS1, smart lamp called Sengled and Aladdin, a very smart speaker). In fact, it is growing at a great speed when we transformed it into an AI-based company.

NVIDIA:

Nvidia Corporation specialized in semiconductor and graphics adapters. It shifted itself in gaming, visualization, and data center and thus focused on AI. It is providing superior computational abilities in their GPU for researchers and scientists. As for training with a vast amount of data, CPUs will take months to train the machine learning models thus highly computational powered and efficient GPUs are used. After binding to AI companies it has made the enterprise’s stocks to reach a peak. Now, it has announced it will bind up with the ARM project to build IoT chips based on Deep Learning. After this project, billions of customers will get hands-on experience of deep learning interfaces on their mobile. From the report of 19th March 2018, it reached 32nd largest on the S&P 500 index.

Microsoft:

Microsoft has changed its way and moved towards an Intelligent Edge. It is extending cloud intelligence to edge devices and thus it will serve cloud intelligence locally. Also, It is focusing on IoT solutions for their customers. It has invested in intelligent cloud computing and mobile strategies with IoT. In four years Microsoft has committed about $5 billion to invest in IoT. By the way, Microsoft is going to change the products with the help of artificial intelligence research.

Pinterest:

To make its pins more available to the user according to their choice Pinterest has created a feature. It holds almost 75 billion pins and 150 million users. To easily transparent the pins to the user, we use AI. Further to make advancement in this feature Pinterest is going to affix deep learning applications so that vast amounts of images can be handled easily. Further, the recommendation system is used to recommend similar images to a particular user as per their choice of interest.

As discussed above, all organizations are shifting to AI. This is because AI has reversed the falling growth of industries. Nowadays many huge industries benefit by maximizing their growth rate and production due to AI. Many companies are focusing on building AI-based products and began to grow in recent years, especially in the software and website development company industry. Vast companies are making their products based on AI and Machine Learning to provide better customer satisfaction. Manufacturing, Financial, Medical, research, E-commerce, and IT industries all are using artificial intelligence projects and machine learning business applications.

Thus it will impact the GVA growth by 40% increase in productivity, which can generate an average of 1.7 economic growth through 16 industries by 2035. The innovative solutions and intelligent automation revealed more opportunities and economic growth for industries. Only due to AI, which amplified its ability and extended the technological power of creation.