Where is AI Being Used Today to Save Time and Money?

Advantages of Artificial Intelligence

Let’s face it; any kind of technological innovation will not have a shortage of advantages, benefits, and pros. It just goes with the territory. If you are still struggling to come up with a plus side for a specific type of technology, you can always choose to content yourself with the fact that you learn something new by pursuing this technology.

However, as you already know in the world of consumer electronics, that’s not going to cut it. It doesn’t go far enough, and there are costs and gains. While there’s bound to be some kind of advantage from this type of venture involving artificial intelligence or not, there are expenses to consider.

If this discussion strikes you as a little too basic, I don’t blame you because there is a tremendous amount of excitement regarding artificial intelligence. But at the end of the day, it all boils down to dollars and cents. As impressive as artificial intelligence may be in terms of pure knowledge and basic research, you may ask yourself what’s in it for everyday businesses or better yet, rank and file consumers? It turns out that artificial intelligence is not the pursuit of knowledge for knowledge’s sake. There are seriously valuable benefits that we can all enjoy and improve our lives with.

Error Reduction

With artificial intelligence, a lot of the decisions made on a day-to-day basis by businesses will be more spot on. We don’t live in an ideal world, so nobody can make the ironclad claim that artificial intelligence will make bad choices a thing of the past. That’s not going to happen because you have to understand that when humans make a decision, there’s more involved than just logic, facts, and reasoning. If that were the case, then most people would be making the right choice at the right time with the right people to produce the right outcome. That’s not true.

There are other factors out there that we can’t fully control. However, with that out of the way, artificial intelligence enables people to take note of all the different variables and crunch the numbers and probabilities and maybe feed this into game theory to reach decisions that are more likely to be correct. At the very least, these are choices that you are not likely to regret, feel sorry about, or wish you didn’t make.

Repetitive Analysis

What if I told you that the most challenging work that you could ever do doesn’t involve your muscles? Many people think that a demanding job must entail straining muscles, possibly breaking bones and a lot of sweat. It turns out that when it comes to stress and pressure, thinking is right up there. Unfortunately, when you are in a job that requires a substantial level of analysis and the ability to keep track of many different variables which can change quickly, this translates to a tremendous amount of stress. 

It’s no surprise that most people who make a lot of money and high-level decisions tend to burn out quickly. If you need proof of this, look into the alcoholism rates of doctors and lawyers. One possible or supplemental solution is to use artificial intelligence for data analysis. For example, some data points are relatively routine for a lawyer but still need brainpower to process. It involves parsing different cases that may be similar to the facts that the lawyer is handling. The same applies to doctors.

Using artificial intelligence will not automatically decide to go away. Instead, it can reduce the shortlist of data points that the professional has to focus on actively. It saves a considerable amount of time and willpower, and it can go a long way in downplaying professional burnout.

Hazardous Exploration

Autonomous devices powered by artificial intelligence can make hazardous explorations a thing of the past. If any of this sounds too remote, distant, or theoretical, think about the concept of dangerous research the next time you fill up your gas tank. Your gas has to come from somewhere. It comes from oil deposits. These usually come from oil fields that are often close to being tapped out.

To find new oil fields or oil deposits, geologists have to put their lives on the line because underwater exploration and crevice or deep earth investigation can be dangerous. Make a small mistake, and you are gone. This kind of work doesn’t have to be done by humans, thanks to artificial intelligence. Just by programming coordinates into a device, these machines can go to places that generally pose a risk to human safety and quickly get the job done.

Medical Applications using Artificial Intelligence

One of the hottest and highly demanded tasks in the medical field involves reading CT scans and other types of data. The disadvantage, of course, is that labor rates in the United States are very high. Because you need a highly trained medical professional to interpret these scans, it translates to costly scan processing rates.

Many HMOs and insurance groups have sidestepped the cost involved by outsourcing this type of work to experts in places like India. But that is just a stop-gap solution because the massive volume of work needed will lead to high costs at the end of the day.

Developers have come up with AI-powered scanning systems that act as digital assistants to doctors interpreting scans. There will always be doctors participating since, ultimately, they have to sign off on their judgment of what the scan means. However, this doesn’t mean that they have to spend all that time doing the work themselves. They can use these AI-powered digital assistants to make a preliminary scan or to reduce the full range of potential meanings or conclusions.

From there, the doctor will then do less work because they can look at the shortlist and see by studying the scan with their own eyes, which are probably most justified. If anything, the medical application of artificial intelligence goes a long way in saving medical professionals a vast amount of time and focus.

Leave a Comment

Your email address will not be published. Required fields are marked *