If you are playing classic casino slots to pass the time, you are experiencing first-hand how advanced technologies such as artificial intelligence affect our daily lives. AI technologies are now so common that they are even used in an online casino for real money. But if you’re worried about a future like in the Terminator movie, you’re wrong: AI systems designed by tech companies have nothing to do with what’s shown in the movies.
First of all, AI is not a stand-alone thing: it is always conceived as part of virtual reality, autonomous vehicles, machine learning and data processing technologies. Its impact on our daily life is more than you might think because we have been using technologies that are managed or controlled by AI for almost the last 5 years. AI start-ups received $33 billion worth of investment in 2020, and many companies rely on AI to update their data management and IT infrastructures. So, where does this technology come across most in our daily lives? We answer this question below.
One of the most striking aspects of Artificial Intelligence technology is the speed of data processing: it can analyze and report millions of data much faster than humans. This means that it can easily find employees who would be the best fit for a particular position. Human Resources (HR) departments use AI technologies to manage candidate evaluation processes and identify ideal candidates. If 1,000 people applied for a job, the HR department doesn’t need to interview all of them one by one: Artificial Intelligence can identify the 10 most suitable people for that job.
For the same reason, artificial intelligence technologies are used to monitor the performance of employees too. Normally, this is the job of the HR department, and performance monitoring needs to be done “manually”. However, it is almost impossible to do this in workplaces where thousands of people work. Artificial intelligence eliminates this problem and can track everyone’s performance in real time, no matter what position they work in.
The goal of marketing is to deliver the right message to the right person at the right time: Artificial Intelligence enables it to do this very successfully and efficiently. We see the effect of this most in dynamic pricing models: you’ve been getting a lot of ‘tailor-made’ prices lately, haven’t you? When you log into a site like Amazon, we’re pretty sure you’ll see special discount rates only you can use on the products that interest you the most: it’s artificial intelligence. AI creates a persona of you using all your shopping history and the information you share with websites and ensures that products that will be of interest to this persona are displayed primarily.
Even product placements in physical stores are determined by artificial intelligence: AI can detect which part of the store to place the best-selling products and the least-selling products. In other words, it can make arrangements to make online shopping completely personal and make physical shopping more efficient.
We’ve talked about industries that you probably didn’t know had an AI behind them until now, but we’re sure you’re aware of the use of this technology in the automotive industry. In recent years, we’ve been seeing more and more reports of self-driving vehicles. Driverless vehicles are managed by artificial intelligence that can perform thousands of calculations per second. These vehicles, which plan the journey according to the road and weather conditions, can seriously reduce the accident rates too. Even if the car is driven by a human, artificial intelligence continues to work in the background and can detect and warn of problems that may arise in the car. It can even take control and brake in emergencies (for example, before an accident).
Insurance and Finance
Insurance and finance are among the sectors that have transformed most rapidly in recent years. Artificial intelligence is used in these sectors to offer the most affordable prices to users and to increase customer satisfaction. For example, mobile assistants in the financial sector or chatbots on insurance companies’ websites are managed by artificial intelligence. There are also advanced artificial intelligence technologies that are not open to the end-user, that can analyze stocks and make investment decisions.
Artificial intelligence is used to develop new drugs by analyzing medical data. The personalization feature of AI also comes to the fore in the health sector: With this technology, it is possible to determine personalized treatment plans, which means developing personal solutions according to the patient’s needs. However, this is not the only use of AI in the health sector: this technology can also be used for management. For example, in emergencies such as the pandemic, it can predict that the hospitals will be full and prepare a work plan that will distribute the workload in the most balanced way.
In the near future, AI will create new lines of business, minimize human error and make every service personalized. When used in conjunction with technologies like robotic process automation (RPA), it will also reveal how each task can be made more efficient by monitoring workflows. For example, virtual managers will now take over the jobs of lower-level managers, who are responsible for conveying the instructions and goals they receive from the top management to the individuals in the lower hierarchy. Virtual managers will make decision-making faster and reduce bureaucracy. In other words, AI will not take over the world but will make it much more practical.