These 5 Industries Will Be Most Affected by AI (Artificial Intelligence)

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artificial intelligence by industry

For about a decade, people have warned that the robots and AI (artificial intelligence) are coming to take our jobs. The horror!

When you see video from Boston Dynamics of a robot dog dancing, or a very human-like robot doing parkour, you tend to shake your head and think that technology is a long way off from replacing humans.

Or is it?

Truth be told, AI has already had a massive impact on many industries, and the trend is only growing.

With the emergence of ChatGPT and other websites powered by AI, this extremely fast and efficient technology will continue to revolutionize the way businesses operate. And while it might not lead to more people in the unemployment line, AI will change industries permanently.

Some jobs and industries might suffer from AI, but some fields are expected to see exceptional benefits as well. Certain tech experts are even predicting that the following five industries will be some of the most affected.

5 Industries Will Be Most Affected by AI

Education

Artificial Intelligence is set to revolutionize education in countless ways. Well, on second thought, you can probably count them, but let’s not split hairs here, people.

AI-based intelligent systems can provide personalized learning experiences to students, helping them learn more effectively and faster.

Beyond that, AI will also enable automated grading and feedback, helping teachers to spend more time on teaching.

AI can also be used to create engaging and immersive learning experiences and can be used to monitor student performance in real time. Immediate feedback could lead to quicker problem solving and less students falling behind.

Since every student is unique and learns in their own way, experts are predicting that AI will also help to create customized study materials tailored to students’ needs and can be used to detect fraudulent activities in the education sector.

AI will undoubtedly play a major role in transforming the education sector for the better.

Healthcare

Image by Sasin Tipchai from Pixabay

For the health-conscious, it is comforting to hear that Artificial Intelligence working its way into healthcare.

While still in its infancy, AI could eventually be used to detect life-threatening diseases earlier and more accurately than humans and can accelerate drug discovery and clinical trials. Expanding upon that, AI is also being used to develop medical imaging technologies to detect cancer and other diseases earlier and more accurately.

As with other industries, AI will also help streamline processes by helping to provide intelligent medical diagnosis and reducing the burden of paperwork for medical professionals. Can they reduce the amount of forms that patients have to fill out and sign, too? Sheesh!

Lastly, and this could be a big one for people who use WebMD to diagnose them with cancer for a paper cut, AI can be used to analyze patient data to develop personalized treatments and can help to create virtual health assistants to provide medical advice and guidance.

Marketing

affiliate marketing

From personalizing marketing campaigns and optimizing ad spending, to detecting potential fraud and providing real-time insights for businesses, AI is going to make a huge impact in the marketing industry.

As it stands, there are several very time-consuming manual functions in marketing that AI can help to automate. Data entry and customer segmentation are just a few that come to mind.

On the customer acquisition front, marketers will be able to use AI to analyze customer data to develop highly targeted campaigns and to create personalized recommendations for customers.

Finance

If you’re like us, you are thinking about how Artificial Intelligence can get you 1000% returns in the stock market. Now, those results probably won’t happen, but AI can be used to provide intelligent financial advice to customers and to develop predictive models to help with market forecasting.

Outside of making you rich from picking stocks, AI can be used to detect fraudulent activities and optimize customer experience, as well as automate tedious financial processes, such as data entry and risk analysis.

This could be great news if your job is data entry or risk analysis. You can outsource your work to AI until your company catches up with the times.

Lastly, AI can be used to analyze customer data to provide personalized banking services and to automate credit decisions.

Entertainment

TV

Last but not least, we have entertainment and just about every, single arena that falls under it. From movie studios, to blogs, to photographers to podcasters, Artificial Intelligence is going to set the industry ablaze.

Not only will AI be used to create the content that you consume (from written content to full-length motion pictures)), AI will be used to generate personalized content for the end user.

On top of that, AI can be used to optimize video streaming, facilitate the creation of virtual reality events, and enable more interactive experiences for viewers. Just what everyone needs, another reason to be even more attached to devices than we already are!

AI can also be used to detect and prevent plagiarism, automate the transcription of audio and video content, and personalize advertising.

In Conclusion

These are just a few examples of how AI is changing the world today, and it’s clear that AI will continue to revolutionize many more industries in the near future. And it is not to say jobs are in jeopardy today, because in all of these industries humans will still be needed. However, there will come a time in the very near future where all customer service and data entry will be outsourced to interactive chatbots that can provide customer service 24/7.

Top image by Tumisu from Pixabay 

Author
C. James

C. James is the managing editor at Wealth Gang. He has a degree in finance and a passion for creating passive income streams and wealth management.