ChatGPT, arguably the prime example of what is possible with artificial intelligence, only launched in the fall of 2022. Despite this, AI has already impacted (and some might say revolutionized) a wide range of different industries.
Some see artificial intelligence as a way to replace the need for humans in many fields. They dream of putting computers to work for them, allowing progress to be made while they sit back, relax, and essentially cash a paycheck. Those people fail to see the forest for the trees, so to speak.
AI in Real Estate
Especially in real estate, AI is all about streamlining processes and freeing up time so that people can focus on more important matters. This is true regarding property valuation and critical functions like market analysis, customer engagement, and more.
Some examples of valuable AI real estate tools include predictive analytics and virtual assistants – two assets that would have been unthinkable for most real estate professionals even as recently as a decade ago. Think about the sheer volume of data that a human would be required to pour over to complete something even as seemingly simple as a property valuation. They’d need to look over years of public records, examine comparable properties, and more. When you’re talking about things like flipping houses, wholesale real estate, or even leasing properties, readily available data is critical to making sound investment decisions.
Rather than devoting days or weeks to this, predictive analytics can do it in moments – arriving at the same conclusion in a fraction of the time. Real estate professionals can now spend their time focused on more important matters.
Healthcare AI Technologies
Another industry where AI is making a significant impact is healthcare. In many ways, providers’ approaches to caring for their patients have already been shifted for the better.
Thanks to AI-powered platforms, healthcare providers can more efficiently offer personalized treatment plans that play to the unique qualities of each patient, for example. While this has always been the goal, it’s also far easier said than done – especially given the limited time and resources your average doctor is battling each day. It’s long been established that personalized healthcare leads to better outcomes, creating a healthier population that is more engaged in things like proactive treatment.
AI also assists with everything from training the next generation of doctors and care professionals to accelerating drug discovery.
Finance AI Tools
Another industry dependent on massive volumes of data is the world of finance. If you want to make the best investment decision right now, you don’t just need to understand the market as it exists today. You need to fully grasp the context of how it got to that point and where it might be headed, too.
Again, this takes an enormous amount of time to get right – which is an issue since the financial sector moves incredibly quickly. We’re not talking day-by-day – we’re talking second-by-second.
Thankfully, AI-driven algorithms are being used to ingest this data meaningfully, accurately, and, most importantly, quickly. This can help improve risk assessment exponentially. It’s even helped improve fraud detection. It can instantly identify suspicious activity with a user account, alerting the appropriate people so they can do something about it as soon as possible.
AI in Education
Artificial intelligence is being applied to education similarly to how it is used in healthcare, albeit with a different focus. Here, personalization comes through the learning experiences that it helps educators create for students.
Everyone has a unique learning style – this is not new. Some people are fast, and others are slow. Some are visual learners, and some are not. Certain people need to learn in isolation, while others thrive in a group setting. Coming up with some magical “one size fits all” approach to teaching that works equally well for everyone is a fool’s errand – and yet that is precisely what the education system has been designed to offer up to this point.
Thankfully, AI has made it easier to personalize learning experiences in many environments, leading to much better outcomes on much shorter timelines.
Manufacturing AI Robots
Most people think of manufacturing as a classic example when they imagine an industry that AI will heavily disrupt. However, the reality is much different from the “doom and gloom” scenario, which many assume would see robots replace human workers for years. Instead, robotic process automation and AI-driven tools support and empower those workers.
AI makes increasing efficiency in a manufacturing environment easier, thus improving quality control. Humans have more time to focus on what they must do to manufacture the best possible product, and machines can take care of the rest.
AI in Retail
Finally, the retail sector has been eager to embrace AI because it has helped positively reshape customer experiences.
Consumers have long said that they yearn for more personalized experiences, and now AI can provide them cost-effectively. Personalized product recommendations can be generated instantly based on someone’s real purchase history. Even things like inventory management are easier with AI-powered “smart ordering.” With these resources at their disposal, Stores will never run out of popular products during peak times.
AI is Reshaping Multiple Sectors
Again, all this disruption and evolution has essentially happened in less than two years. While AI existed before ChatGPT, it was really with that solution that the implications began to crystalize for many people. When you think about how many sectors have been impacted in such a (relatively) short amount of time, it’s fascinating to think about what the next two years (and beyond) have in store for us all.