The rise of artificial intelligence is a hot topic right now. AI generators that create photos, song lyrics, and a variety of other types of media are trending on social media, but AI goes far beyond that.
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It's also a popular business tool. About 35% of all companies already use AI and more than 91% of leading businesses use it. Artificial intelligence is prominent in a variety of industries.
AI in Human Resources
According experts in human resources like Paypro, artificial intelligence is applicable in human resources departments because it improves efficiency and handles repetitive, time-consuming tasks. Using AI in your human resources department helps you create a good balance between important human interaction and convenient automation.
AI is useful for such tasks as processing payroll, tracking employee schedules, and onboarding new employees. This gives the people in your HR department more time to focus on human interaction to ensure a safe work environment and improve morale.
AI in Retail
Artificial intelligence is becoming essential in the retail industry. AI-based technology allows store owners to keep track of their inventory, improve supply chain management, and improve the customer experience by providing customized recommendations.
AI isn't just for storefronts, either. It is also useful for optimizing inventory and improving order fulfillment in warehouses.
AI in Education
The rise of artificial intelligence in education improves student outcomes by creating customized learning experiences that meet their individual needs. Educators use AI algorithms to analyze student information, identify where they may need extra help, and create personalized study plans.
AI chatbots are also helpful because they can answer students' questions even when teachers are unavailable.
AI in Healthcare
Artificial intelligence is especially helpful in the healthcare industry. Commonly, healthcare providers use AI algorithms to analyze patient data and identify risk factors and potential health patterns.
It is also used to diagnose disease with more accuracy, develop new treatment options, and create personalized treatment plans. Finally, AI helps with such tasks as improving medical imaging, scheduling appointments, and automating other administrative tasks.
AI in Finance
Artificial intelligence is no stranger to the finance industry. In fact, investing in financial AI has been popular since 2013. These days, AI performs a variety of tasks in the financial industry.
It is useful for analyzing data about potential borrowers that goes beyond the basic background check and credit score. Some people use artificially intelligent advisors to help them create personalized investment portfolios.
It's even prominent in the stock exchange where machines perform high-frequency trading by tracking inefficiencies and market differentials on a minute scale.
AI in Criminal Justice
Artificial intelligence is becoming quite popular in the criminal justice field. One example is the city of Chicago. It has a Strategic Subject List that helps it analyze people who have been arrested and determine whether they're someone at risk of being in trouble in the future.
It is based on factors such as age, gang affiliation, drug arrest records, and overall criminal activity. Experts believe that AI programs can help reduce human bias in law enforcement and will create a fairer system for sentencing.
Artificial intelligence will only continue to grow in these industries and many others. Learn how to implement AI strategies into your own business plans to get ahead of the game and ensure your company remains relevant.
