Impact of Artificial Intelligence in our daily life

In the world we live in, the far-reaching impact of artificial intelligence in our daily life is very much understated even though we already see it every day.

Think about all those times that Amazon recommended a book to you or a movie or TV show was suggested by Netflix.

These suggestions are based on algorithms that analyze what you have been buying or watching. From those purchases, the algorithms learn, using them to recommend other items that you might enjoy. Behind those algorithms lies artificial intelligence.

Let us dive into learning how deeply artificial intelligence is ingrained in our everyday life.

Use of Artificial intelligence in financial institutions

Artificial Intelligence is an essential tool in financial services that is now widely used. If organizations deploy it with proper caution, prudence, and consideration, it has tremendous potential for positive results.

To track credit card transaction requests, banks are using artificial intelligence as algorithms process information so quickly. In any transactions, they spot patterns and alert users about any suspicious activity.

Banks use the credit score to determine who is eligible for a credit card and who is not. However, it is not always successful for them to group people into correct types.

Instead, data about the repayment patterns of each individual’s loan, current active loans, existing credit cards, etc., can be used to tailor the interest rate on a card.

Which tool can come up with a solution across thousands of personal financial records- a learned program, of course! This is where it comes to AI.

Scanning through these records also gives AI the potential to build a loan and credit offers recommendation that makes historical sense, as it is data-driven and data-dependent.

Artificial intelligence in automobiles

You could first think of self-driving cars when you think of AI applications in the automotive industry. But more can be achieved by AI than that. And when we are driving ourselves, it can keep us connected, on track, and safe.

Hundreds of sensors allow artificial intelligence to recognize risky conditions. It signals the drivers beforehand so that they can prevent an accident or take emergency control of the car.

Emergency braking, blind-spot tracking, cross-traffic alarms, and driver-assist steering plays a role in avoiding collisions and save lives.

Vehicles connected in the network can do more than just warning us with check-engine lights, battery indicators, oil lights, and differently shaped conventional vehicles. AI tracks hundreds of sensors until they impact the operation of the car and can identify problems.

AI can spot minute adjustments that could signify a pending component failure by tracking thousands of data points per second, often long before the loss might leave you stranded.

Artificial intelligence in the medical field

There is already an enormous amount of technology and automation in play in medicine, whether we know it or not – medical records are digitized, what can schedule appointments electronically, patients can use their phones or computers to sign in to health centers or clinics.

When the use of technology in all aspects of life has grown, it quietly changed how we seek medical treatment.

In addition to decreasing manual tasks and freeing up physicians’ time, increasing quality and productivity, the potential for increased AI use in medicine is an incentive for us to move towards more’ precision medicine.’

Using AI will automate the following processes:

  • Knowledge collection by patient interviews and tests.
  • Results processing and assessing
  • Using different data sources to arrive at a correct diagnosis
  • Determining a suitable type of treatment (often presenting options)
  • Preparing and delivering the treatment form selected
  • Monitoring for patients
  • Aftercare, appointments for follow-up, etc.

Automation also ensures that tasks are done quicker. It often frees up the time for a medical professional to perform other tasks. What can not automate these tasks is seen as a more effective use of human resources.

Use of AI in Security Systems

Today, an adequate safety measure is known to be one or more security guards sitting in front of many security monitors and a monitoring order. Indeed, this method is reasonably successful, but it does not guarantee full protection.

The main reason for using AI for the intelligent analysis of video coming from surveillance cameras is to remove the human element.

People are easily distracted, can not remain concentrated for a long time, find it hard to concentrate on many items at once, i.e., it is physically impossible for them to track all the security system monitors. Hence, the attacker has an opportunity to be overlooked.

IT specialists understand that the security and verification approaches perform worse, and it becomes harder to detect attacks every day.

Hackers can secretly target companies quickly, hide from security systems, and deceive users’ authentication mechanisms.

A natural way of evolving technology is the incorporation of artificial intelligence into personal and cybersecurity systems. AI-managed systems are objectively more effective and human-factor-free.

Use of Artificial Intelligence in education

Artificial Intelligence helps figure out what a student does and does not know, providing a tailored study schedule considering each learner’s knowledge differences. In this way, AI customizes studies according to the student’s individual needs, increasing their effectiveness.

With the aid of artificial intelligence, we can create interfaces with customization options for digital learning, digital textbooks, bite-sized lessons, study guides, and much more.

Also, AI helps to create and update the lessons’ content, keep the data up-to-date, and optimize it for various learning curves.

Even when TAs divide it between them, grading homework and exams for extensive lecture courses can be tedious work in college.

Teachers also find that grading takes up a considerable amount of time, even in lower grades, time that could be used to meet with students, plan for the class, or focus on professional development.

Artificial intelligence might not be able to grade the exam scripts as humans do but it’s getting very close. For almost any form of a multiple-choice questionnaire, it is now possible to put grades automatically.

Other types of testing, like fill in the blanks and automated grading of student writing, might not be far behind.

Common types of exam processes such as fill in the gaps, MCQs, true/false, can be graded automatically including the assessment of students’ writing with the help of AI.

In their lectures and instructional materials, teachers can not always be aware of differences that may leave students uncertain about some ideas. A way to solve the issue is offered by artificial intelligence.

This is already being put into effect by Coursera, a vast free online course provider.

If many students are found to have the incorrect answer to a homework assignment, the device warns the instructor. It sends a personalized message to potential students that provide recommendations for the correct answer.

Artificial intelligence in smart home

You might already be using some form of voice-assistant gadget powered by AI to get the latest news or weather forecast every morning.

But those AI networks could serve as the brain for entire homes in the smart home of the future, learning about residents and organizing and automating all of their different intelligent gadgets.

It’s 6 A.M., and there’s a ringing alarm clock earlier than usual. It’s not a malfunction: your schedule was scanned and changed by the smartwatch because you have the big presentation first thing in the morning.

Your shower turns on and warms up to your preferred 103°F automatically.

The solar panels on your roof and wind turbine are charging your electric vehicle. When you return home later you find that a drone has delivered a package of cold medicine.

It turns out, health sensors installed in the bathroom detected signs of an imminent disease and automatically placed an order.

Good thing you knocked the presentation out of the park already. All this movie-like interpretation of a smart home powered by AI is going to be a reality in 10 years from now as predicted by Berg Insight, a research firm in Sweden.

Artificial intelligence in transportation

Autonomous vehicles are one of the most innovative applications for AI innovation. The idea of autonomous cars, once just a sci-fi vision, has now become a fact.

While people during the developmental stages were wary of this technology, driverless vehicles have already entered the transportation field.

Autonomous taxis have already begun to operate in Tokyo. However, the driver has to sit in the car for safety purposes so that he can take control during an emergency.

According to the manufacturer of this autonomous taxi, technology would lead to a decrease in taxi services, which will help improve public transport in remote areas.

In managing the traffic scene, the vast bulk of traffic information can be gathered by sensors and cameras embedded everywhere on roads.

This information is then to be sent to the cloud, which can be processed in the big data analytics and an AI-powered system, the evaluation will result in a precise traffic pattern that will help ease congestion.

From data mining, it can glean useful insights like traffic forecasts. It can provide important information such as traffic congestion, collisions, or road blockages to commuters.

Also, individuals will be informed about the shortest path to their destination, helping them commute without traffic problems. It can thus use AI to decrease unnecessary traffic and increase road safety and decrease wait times.

 

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