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5 Industries Where AI Is Changing the Game

Where isn't  artificial intelligence revolutionizing industries? Emerging technology is changing the way we work and communicate constantly. However, some industries have seen more dramatic changes than others thanks to AI apps that can be integrated into the workplace.

That's what we'll be talking about today. Here's where AI apps are permanently changing the game, and why this matters.

1. Asset Management

Asset and investment managers have long been wary of AI's potential in these fields. For a long time, the concern was “is this going to put us all out of a job”? As it turns out, the opposite is true. AI is making asset management firms markedly more effective by allowing advanced predictive modeling.

Predictive modeling helps asset managers to find the best opportunities for their clients, but also makes it so much easier to assess credit risk and ensure compliance checks are watertight. This is leading a quiet revolution of savers getting in touch with investment and asset management companies for their services – the outlook has rarely looked better for the industry.

Companies specializing in AI and predictive modeling solutions produce intuitive apps for investment and asset managers to assess credit risk, perform compliance checks, and make wiser decisions. It's a brave new world for asset management.

2. Insurance

Risk assessment is one of the foremost benefits of AI for many companies. This is especially true in insurance - AI apps can make more accurate risk assessments and generate policy quotes that are more attractive to potential customers and safer for insurance carriers than ever before.

AI can identify and dismiss irrelevant correlations in data that might have otherwise been used to calculate premiums. This is an incredible bonus for insurers because AI can help them navigate the difficult waters between identifying high-risk clients and avoiding “profiling”, which carries no merit and can generate significant backlash.

Underwriting apps for insurance companies are evolving quickly - adopting sooner rather than later is truly the best policy.

3. Manufacturing

Artificial intelligence apps have brought the factory floor model pioneered by Toyota in the 1950s back to prominence. Intuitive apps have made it easier for workers to self-govern effectively on the factory floor, significantly improving morale and decreasing training costs.

AI apps also make management far easier, providing relevant information about areas that need to be addressed and using workers' input to answer questions that may never have arisen otherwise. An organized production line is always the most efficient, and AI apps provide optimization beyond the wildest dreams of Ohno Taiichi.

4. Logistics

Predictive modeling makes logistical operators' lives so much easier. Anticipating delays, setbacks, and general issues is unfortunately 80% of logistical management, with the other 20% spent on the phone to angry clients with limited understanding of supply chains.

Artificial intelligence apps for logistics analyze huge datasets and draw innovative conclusions that are unique to your operation. They let you see problems coming before they arise. They help you manage clients with super-easy compliance checks and risk assessments. Most importantly, they allow you to get ahead of the game and adapt your plans, so you can maximize your profits and minimize the amount of time you spend on the phone.

5. Healthcare

AI is being used across the healthcare industry to better understand the behavior of diseases and investigate potential solutions. That's an impressive headline, but artificial intelligence apps are also helping pharmacy managers and healthcare suppliers keep track of inventory and ensure that patients get the supplies they need promptly.

Final Thoughts

Finding the best AI apps for your business is a matter of human intelligence - adopting early is simply the best strategy. Discover a provider who can provide bespoke solutions for your business and step into the future.

About The Author
Russell Emmental

Russell is a finance journalist and ex-banker. He lives in Utah with his family and is a keen aviation enthusiast in his spare time.

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