The age of Artificial intelligence is here.
Many industries have quickly implemented AI as companies look to gain an edge. While AI is still developing, it provides companies with an effective way to enhance operations and reduce employee workload. While most have seen impressive early returns from using AI, four industries stand above the rest.
Below, we will cover all three of those industries. We’ll discuss how they are using AI and why they have decided to become early adopters of the new technology.
Information Technology
Unsurprisingly, the tech industry has seen widespread AI adoption, with many companies integrating it into their systems.
Many IT companies use AI to serve many functions, but one of the key areas is security. AI can help monitor and identify potential threats to company servers, keeping their finances and information safe. Cyber attacks are the biggest threat to an IT company, making AI a powerful and vital tool.
Many of these companies are using AI to help their customers protect their information. With data breaches from major companies becoming far too familiar, many are looking for better solutions to protect themselves. IT companies using AI have an edge over their rivals and will be far more in demand.
Wherever the development of AI goes, you can bet the needs of IT companies will heavily influence it.
Gambling
The dawn of AI coincides with the growth of gambling in North America. The industry has surpassed all expectations, with revenue growing over five years after sports betting and online casinos became legal. The unprecedented revenue numbers have been a massive win for the industry, but the ability to regulate it is still a work in progress.
Some of the leading online casino platforms have come under fire as problem gambling continues to rise. Industry operators are beginning to adopt AI to help curb the problem. This can help them monitor betting patterns, banking transactions, and more to identify those struggling with gambling addiction. This could not only strengthen the industry’s reputation but also provide better protection for individuals struggling with gambling addiction.
On top of serving as a responsible gaming tool, AI can also identify betting patterns for potential scandals. We have seen betting scandals become more common in the US, especially in sports. This is causing many to worry about the integrity of these leagues, causing sportsbooks to scramble for better solutions.
Education
The education industry has taken advantage of many new technological advancements over the years, and AI is no exception.
There are many concerns about AI’s impact on kids, but the benefits are hard to ignore. Some schools have implemented the tool to help tailor lessons to individual students. This can help students who struggle to learn from a standard lesson plan grow and earn better grades that reflect their understanding.
AI can also help students get immediate and personal feedback on tests or assignments. Teachers don’t have the time to give in-depth individual feedback on every task, which is where AI would come in.
Unlike the other industries on this list, schools may be cautious about AI adoption, even as they begin implementing it. That is because the tool is still new and far from a finished product. Some AI systems have been notorious for passing along incorrect or inappropriate information, which would be a big problem when used in education.
Finance
There are many ways AI is being used in the finance industry. The tool allows financial firms and banks to predict markets, protect customer information, and upgrade customer service without expanding the workforce.
Given the money involved, the industry has not adopted AI as quickly as the others on this list. Implementing an early version of an AI program comes with risks, and a failure could devastate the industry and country.
One way we’d love to see the industry expand AI is with money management. AI can help customers better track their finances and plan for the future. Many of us aren’t mathematicians or finance experts, leading to some poor decisions. AI can help change that and allow average people to manage their finances better.
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