Artificial Intelligence In Business: Its Impact and Future Prospects
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AI is the clear winner when it comes to data analysis. It helps to analyze the myriads of health-related issues as well as diagnose patients by scanning their faces, etc. Google Deepmind, an AI-based research company, and IBM (Watson Oncology) have been long working at AI-powered software solutions in this area. AI is only on its way to the peak, and within the next decade, AI-powered algorithms will take care of the tasks that used to require human intelligence.
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Uber is making a $1 billion bet on owning a fleet of driverless cars by 2021. The company has entered an agreement with Volvo to buy 24,000 Volvo XC90 SUVs between 2019 and 2021. These cars will be powered by Uber's own self-driving technology.
Furthermore, Tesla is backing up its vehicles with AI-powered software solutions. All Tesla cars have all the hardware required for the full self-driving capability that is safer than that of a human driver. A powerful onboard computer runs a neural net for vision, sonar, and radar processing software powered by cameras and ultrasonic sensors.
With this state-of-the-art system, Tesla gets a full view of the world that a driver cannot access. Tesla vehicles can match the speed to traffic conditions, keep within a lane, change lanes without driver input, exit the freeway when approaching the destination, and self-park when there is a parking lot nearby. Powered by AI-based software, cars are getting smarter and smarter. Driverless vehicles are no longer the sort of stuff only found in sci-fi.
Aside from fraud detection, AI is also used to predict any changes as well as improve the decisions made with them. Today chatbots and other conversational interfaces can perform simple financial operations and keep track of the transaction history.
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