With the worldwide cases of the Novel Coronavirus showing no sign of abating, people are now identifying various means to continue their life with the contagion. Technology is lending a hand to the drowning businesses and lives. They say necessity is the mother of invention and the pandemic made it true for us. People have only accelerated their already planned digital shift due to the COVID-19 outbreak. The functioning of various companies is changing and becoming more technology-driven.
People will continue to work, shop, and study online, and the world will see an overall shift towards digitalization. This is possible due to applications using technologies like Cloud, AI, and IoT. AI-based platforms will help organizations improve their planning and management with overall resiliency.
AI application is trending across industries. Even the Healthcare industry is using AI-based research and analysis to fight COVID-19. Some of the steaming AI applications are as below:
- Healthcare: AI is supporting a seamless diagnosis of COVID-19 by analyzing patients’ symptoms and the probability of infection. To understand the mutation of the Coronavirus and create antibodies to fight against it, scientists are using AI-based technology to gain insights from the tons of data collected.
- BFSI: This sector is currently dealing with weakening operating conditions, increasing asset risk, and heightened pressure on capitalization as assets continues to outpace capacity. An operation as simple as depositing a check has to go through 38 pre-checks before it’s realized. Economic Times believes that digitalization can make such processes faster by implementing AI-enabled banking processes.
- Retail: This sector’s eCommerce side is predicted to grow post-pandemic as more people are preferring to shop online. A Forrester survey of 1,122 online adults in April found that 21% said they’ve bought groceries online for the first time and 41% are buying more things online than they have in the past. Conventional retailing will find its way back eventually after things are under control. AI-enabled digital retailing will play a huge role post-pandemic with use cases like touchless customer experience, cashierless stores, virtual trial rooms, personalized suggestions, and more.
- Manufacturing: This domain is changing gears by adopting advanced technologies like AI and IoT. According to a recent study by BCG, AI-powered companies will increase post-pandemic. Many companies leveraging AI in their manufacturing processes experienced operational benefits and improved their decision making. Companies are using AI and predictive analytics to improve production speed without any errors.
- Automotive: The focus of this industry is on automation. From the era of conventional vehicles, we are transitioning to the era of hybrid electric and autonomous vehicles. AI and ML play a prime role in automating vehicle operations. As per Technology Review, autonomous driving has proved to be essential in the fight against the pandemic by transporting necessary medical supplies and food to healthcare professionals and the public in infected areas and disinfecting hospitals and public surfaces to reduce the spread of the contagion.
AI is positively impacting the future of every industry and every human being. AI is acting as a driver for evolving technologies like Big Data, Robotics, and IoT. Post-pandemic, AI will be our new reality.
Further Reading:
To know more about healthcare applications using AI, read this interesting blog – “Flattening the Curve with a Smart Healthcare System”.
