Using AI in Different Industries to Improve Profits

Artificial Intelligence (AI) is one of the newest cutting-edge technologies that are giving people a glimpse into the future and radically changing the way society operates.

By DEVIN PARTIDA

In terms of profitability, AI can help several fields generate more profits and lead to more client or patient satisfaction simply by streamlining a workload. As AI evolves, more and more sectors will begin to utilize it to its fullest.

1. Healthcare

The healthcare sector is more about taking care of people than turning a profit, but AI can still be beneficial all the same. AI’s central role in the healthcare field is to improve diagnostics. Healthcare professionals have great stress on them, so having an AI as a backup to help them analyze symptoms and risk factors can take a lot of the pressure off.

Also, AI can detect the presence of certain diseases like cancer with relative ease, often more accurately than humans can.

Having a more efficient way to diagnose patients means doctors have more free time to focus on other patients with issues. As AI becomes more widely adopted in the healthcare sphere, you can expect patients to receive the same – or even better – care while healthcare professionals can prioritize their patients more efficiently.

2. E-Commerce

AI can help online businesses understand how people perceive their brand. 

For a small business, AI can help them figure out their target audience and how to market to that kind of customer effectively.

Each type of customer should have preferences in common, and AI can recommend products that match their persona or are inspired by the types of products they click on regularly. In doing so, AI can help close more sales for small online businesses.

3. Dentistry

The dentistry field can use AI for several pain points. First, AI can manage mass amounts of data, allowing dentist offices to know when to contact their clients with information on the next time they should have their teeth cleaned or checked out.

AI can also respond to verbal prompts, allowing a hands-on dentist to access certain files without taking their focus off of their patients.

Overall, AI is beneficial in a hands-on profession because those in service-related industries can better serve their patients or clients and continue to keep their business going while using AI in marketing to obtain new clients.

4. Finance

AI is very prominent in the finance industry. For everything from advising people on how to spend or invest their money to processing giant sums of data, AI can find a home in the finance industry.

There may be risks due to AI handling all of this data for the finance sector, such as not having the same context awareness as a human being when advising others on what to do with their money. Over time, these issues will likely be overcome as technology grows and evolves with diverse input.

Relying on AI can save time, thereby increasing profits. More time will allow financial professionals to focus on clients who have more complex questions or scenarios. Even people with smaller questions get helped, leaving happier clients overall.

5. Customer Service

Many businesses use AI to help specifically with customer service. Because it can be difficult to wade through so many customer service support requests, companies can use AI to better direct people to FAQs or the appropriate person to speak to.

If the question is simple, a chatbot could link the person to a certain place on the company’s website to solve their issue, thereby saving the time, money, and effort of a representative answering a simple question.

Chatbots that pop up on websites are not staffed by people from the get-go. Sometimes, bots will talk to a person first, then use human responses to sort them to a customer service agent. By fielding questions through chatbots first, customer service representatives could become more efficient, allowing them to solve more issues while on the clock.

AI Can Improve Quality of Life in the Workplace

Many people who work hands-on with the public will be grateful for the advancement of AI in almost every sector. AI can be used in a variety of ways, allowing professionals to have more flexibility in the people they deal with and where they allocate their time. Having more wisely distributed resources means you can save money by saving time.

As AI evolves, it will be able to complete even more complex tasks so industry professionals can spend more time working on the things that truly need their intuition and experience.