Thursday, March 31, 2022

How 4 Industries Are Embracing Artificial Intelligence

Have you ever been sitting down at the office, staring at your mundane tasks for the day, and wished you could just snap your fingers to have them all taken care of?

You aren’t alone. According to UiPath, 67 percent of survey respondents feel they are constantly repeating tasks, and that these repetitive tasks consume more than four and a half hours of their workweek.

Artificial intelligence (AI) is the use of computing power to complete human processes. Currently, in the business world, that translates to teaching computers to tackle these repetitive tasks so you can get back to doing what’s most important.

AI is slowly but surely starting to weave itself into our everyday lives. Here’s a quick snapshot of four industries starting to embrace AI.

Manufacturing

AI is revolutionizing the manufacturing industry to make production faster for customers, safer for employees, and cheaper for companies. Thanks to AI, you’ll be hearing a lot more about smart factories as more companies start to embrace the emerging technology. 

Smart Factories

The difference between a traditional factory and a smart factory starts by adding sensors to the production line to give AI access to real-time data from every part of the production line simultaneously. These sensors have a variety of different applications, from optic sensors to give a machine visual data regarding its location, to thermal sensors that track temperature data.

Inventory Tracking

The manufacturing industry is also using AI to track inventory. By investing in AI instead of traditional inventory management, managers have a better understanding of their stock and capacity to improve delivery times and reduce holding costs.

When combined with robotics, the result of AI can be a fully optimized smart factory that has robots collecting data and performing tasks dynamically to optimize performance, all without human intervention. 

When machines coordinate to optimize processes it is known as self-learning. Self-learning begins at the sensor level with machines collecting thousands of data points. Those data points are then used to control the machines in a way that hadn’t been possible before, making production faster and more efficient than ever.

Consumer Packaged Goods

CPG is no stranger to embracing AI either. The CPG industry has drastically improved its ability to forecast demand with the help of AI. By analyzing a running history of sales over the life of a company, AI algorithms can predict future buying habits better than any method previously available. Managers can use this information to better suit a more accurate prediction of consumer demand and cater production to the advanced information.

Healthcare

AI is being used more and more in the health care industry to help with tasks such as diagnostics, data analysis, and patient care.

For example, the Mayo Clinic is currently partnering with Google Health to create AI algorithms that can better schedule radiation dosages for patients seeking cancer treatments. Traditionally, this process was a simple calculation that wouldn’t take more than thirty minutes. 

As time and technology with the treatment has progressed, so has the complexity of determining the correct timing and dosage of each treatment. AI had risen to the task to create stronger radiotherapy planning and better patient outcomes.

Marketing

We know marketers love their martech – so we’re not surprised to see AI being used by marketing teams of all sizes to provide personalized content for our audiences. 

Personalization 

One way that AI is being used is by scanning and analyzing social media posts to look for consumer sentiment. This allows companies to gauge public opinion on their products and better understand what customers want.

AI can also help with targeted marketing. Using data from past customers, companies can use AI to target ads to consumers that are more likely to be interested in their product. This ensures that companies are only spending money on ads that will reach potential customers, rather than wasting money on ads that no one will see.

AI is also being used to create personalized recommendations for consumers. By analyzing past behavior, companies can use AI to suggest products to consumers that they are more likely to be interested in. This is similar to how Amazon recommends products to customers based on their past purchases.

Overall, AI is helping marketers save time and money by doing repetitive tasks, such as analyzing data, so that we can focus on more creative tasks, such as coming up with new marketing campaigns or building apps .

Content Generation

On top of all those different use cases, AI is also being used to change the way that marketers produce content and write copy. Introducing Jasper: The AI writing generator.

What if I told you that the last five paragraphs were written by a computer in less than a minute? Trained by a machine learning algorithm in 2019, Jasper scrapped about 10 percent of the entire web to learn about how people talk online. Now you can ask Jasper to write just about anything, sit back, and watch the word count tally up.

Here at Lumavate, we’ve been experimenting with Jasper to assist in writing content and have been pleasantly surprised by the speed and accuracy of the content it has been able to generate. All it takes is a quick sweep to add some clarification or personal pizazz and your content is ready to go.

We’re all for GSD (it’s literally one of our core values), so if Jasper were a human on our team, he would be a perfect example of someone driving results.

Curious about other emerging martech? Check out this recent article on how QR codes are enabling marketers to engage with consumers better than before!