New Delhi: Artificial intelligence (AI) has disrupted various industries, transforming how businesses run, and how we go about our daily lives. It is almost an irony how an ‘artificial’ product is making inroads into lives so naturally.
AI is utilized in the healthcare sector to analyze patient data and deliver more individualized treatment regimens, improving outcomes and lowering costs. In the financial services industry, the technology has helped automate research and decisions at the back-end systems, and at the consumer end – making the better investment decisions -be it for detecting frauds, or assessing personal exposures & risks. The Manufacturing sector is also benefitting from AI, using it to streamline workflows, cut waste, and improve product quality. AI has also found applications in the retail sector for marketing, customer experience, and inventory management. Additionally, technology is advancing in the fields of education and transportation with the development of self-driving cars and virtual reality technology.
As an emerging piece of tech, AI holds tremendous potential, it can automate and streamline various processes, from customer service to financial research, by utilizing vast amounts of data and advanced algorithms. As a result, companies of all sizes and industries are using AI to increase production, profitability, and efficiency. This has immense potential even in the flourishing Indian stock market where an average investor thrives mainly on technical and fundamental analysis using legacy tools. It is about time that more industries open up and embrace commercial application of AI.
The use of AI by modern firms like Sahi Bandhu, Escrowpay, Loop Health, Seekho.ai, Zoomcar, Graas, and many more has proven to be hugely advantageous for their business growth –
- AI in Ed-tech – AI is transforming how we teach and learn. AI-powered tools and platforms are revolutionizing the education sector by giving students individualized and flexible learning opportunities. They are changing the Edtech industry by delivering personalized and adaptable learning experiences, raising student engagement and performance, and enhancing the standard of instruction.
- AI in Fintech – By streamlining processes, cutting costs, and enhancing client experiences, it is also reshaping the finance industry. Fintech companies use AI algorithms to analyze vast amounts of data, evaluate risk, and make decisions instantly. Fintech companies use AI algorithms to analyze vast amounts of data, evaluate risk, and make decisions instantly.
- AI in Healthcare –Healthcare sector is transforming the way medical professionals diagnose and treat diseases. With the ability to analyze vast amounts of data quickly and accurately, AI can now identify patterns and insights that might be missed by human doctors. This has led to the development of AI-powered diagnostic tools that can provide faster and more accurate diagnoses, reducing the time and cost associated with traditional diagnostic methods. Moreover, nowadays AI is being used to develop personalized treatment plans based on a patient’s individual characteristics and medical history, resulting in more effective treatments and improved patient outcomes.
In accordance with this, we understand there are on-going experiments to introduce AI-powered tools in India’s capital markets, and it can be a rather welcoming move for traders to create leverage.