Companies in dozens of industries are investing heavily in artificial intelligence to develop more streamlined and cost-effective ways of serving their customers and powering their operations.
What does the future have in store as far as these technologies are concerned? Nobody can say for sure, but we know robots will be a big part of it.
As far as the present-day goes, let’s examine four exciting technologies evolving with AI before our eyes.
Medical Diagnoses
We tend to view doctors as flawless if we’ve received proper medical care. But they’re humans like the rest of us, which means they’re prone to mistakes. According to studies, medical errors are the third leading cause of death in the U.S. What’s more, around 10 percent of those deaths are attributed to faulty diagnostics like missed and misdiagnoses. This is why breakthroughs in AI-assisted medical diagnosis technology carry the most excitement in an AI healthcare market that’s projected to reach $150 billion by 2026.
With AI able to quickly learn a patient’s entire medical history and run several algorithms on the patient’s current symptoms, it can diagnose conditions faster and more accurately. Doctor’s will never be removed from the loop, of course, but AI allows for greater patient-to-patient visibility.
5G Augmented Reality
Augmented reality is an extension of our physical world with layers of digital information laid on top. Data like animations, videos, images, and 3D models are presented to users via devices like projection glasses, head-mounted displays or mobile devices while technology like depth-tracking and location mapping provide a realistic user experience.
Retailers ranging from Sephora and Nike to Ikea and Lacoste have introduced augmented reality apps in the last few years to great success.
According to Business Wire, the augmented reality market is expected to hit $60 billion by 2023, meaning more unique shopping experiences are on the way for consumers. The arrival of 5G technology makes this especially true. Experts say that 5G technology is not only pivotal to augmented technology. It will change the way we live.
Self-Serve Advanced Analytics
It’s no secret the world is creating an enormous amount of data. We only need to look to at our mobile devices, the number of apps we have, and our daily behavior to imagine the global impact on data generation. Analytics isn’t just a way for companies to make more money and offer their customers better experiences, but to also uncover insights related to any initiative.
The power of insights used to be locked away within the data team and required a lot of time to yield insights. But with the advent of search analytics, even non-technical end users can dig into data to inform their workflows. Some advanced analytics platforms, such as ThoughtSpot, are using AI to find deeper insights that even trained professional miss, displaying them to end-users through detailed visualizations.
Robo-Advising
The financial system has been tilted toward the elite for centuries. From savings strategies to budgeting tips, we don’t all start our adult lives with the same advice. The disparity in education is particularly apparent with investing. Investing is the only way to grow money substantially (but passively) over time. Yet, because of the aforementioned equality gaps, many people living paycheck to paycheck don’t know how to start investing, let alone be able to afford a few shares of a tech stock.
Robo-advising makes investing straightforward for everyone. These platforms bypass a financial advisor, a significant expense over time, and instead offer investment advice and strategy via online resources. Some platforms even allow investors to buy fractional shares of stocks and funds, allowing them to continually invest in the market versus having to save up to buy full shares.
There’s no shortage of rousing technologies evolving with the graces of artificial intelligence. However, some developments are more of a reality than others. The best part of these four technologies is that they’re affecting and improving our everyday lives. Isn’t that what technology is all about?
