Sectors where AI Technology Is Used

1 Self-driving cars — Volkswagen

In a foreseeable future, AI algorithms will replace human drivers in cars. The technology still has challenges to overcome, and every once in a while we read about crashes and incidents that involve self-driving car test programs. But the industry is poised on ironing the kinks and rolling out self-driving cars to the masses in the next few years. And they’re looking for talented AI experts to help improve their self-driving cars technologies.

The field of autonomous driving has drawn the interest of not only big and emerging tech companies but also traditional car makers. Among them is German automotive giant Volkswagen, which has recently increased its involvement in the AI industry. The company has its own AI labs, where its experts on working on a range of projects, including the enhancement of the way self-driving cars see and react to events that happen around them.

In 2017, Volkswagen partnered with graphics chipmaker Nvidia to expand its AI projects. In early 2018, the carmaker partnered with self-driving car startup Aurora to accelerate the development of its fleet of self-driving cars.

# 2 Banking — JPMorgan Chase

AI algorithms perform best where there’s an abundance of quality data. And there are very few domains that have as much historical and structured data as the financial industry. There are many ways that AI can help make financial institutions become more efficient at providing services to their customers. Some examples include detecting and preventing fraud, algorithmic trading, and providing banking assistance to customers. In addition to many fintech startups that work on specific AI solutions, we’re seeing several large financial institutions and banks gradually transform into tech companies in their own right, acquiring startups and AI talent to develop their own solutions and maintain their competitive edge in a fast-changing market.

An example is JPMorgan Chase, the largest bank in the United States, and among the leading financial institutions employing technology and AI algorithms in different fields. The firm recently hired Manuela Veloso, the former head of Carnegie Melon University’s Machine Learning Department, as its first head of artificial intelligence research. The company’s tech budget for 2018 topped $10 billion, and AI will be a good part of it. “Looking five to 10 years out, the pace of technological innovation will only quicken as artificial intelligence, robotics, machine learning, distributed ledgers and big data will all shape our future,” Co-President and Co-Chief Operating Officer Daniel Pinto said in a letter to shareholders in April.

JPMorgan has already rolled out several AI-powered services for its clients, including the use of AI algorithms to help investors make better investment and trade decisions.

#3 Healthcare — Philips

From making healthcare services available to more people to diagnosing and treating diseases faster and with more precision, health institutions are leading various projects to employ AI in medicine and healthcare. At Philips, a long-standing tech company and a global leader in health technology, you’ll be able to work on AI solutions that will reshape the entire health care cycle, from assisting health care providers to achieve better outcomes to helping consumers manage their own health and adopt healthier lifestyles.

Philips’ focus is on combining AI and other technologies to understand and constantly adapt to the changing healthcare needs, a concept it calls “adaptive intelligence.” The company follows the vision that AI doesn’t replace healthcare professionals but augments their abilities and that enables 24/7 healthcare whenever, wherever needed.

In an interview with the Journal of mHealth, Jeroen Tas, Chief Innovation and Strategy Officer at Philips said, “Supporting clinicians by streaming data, interpreting data, providing effective visualisations, detecting deviations from normal, providing early warnings – these are all areas where we can use AI to focus on supporting the clinicians to make the right decision at the right time.”

Philips is especially well-positioned to achieve this goal because it has a long history of developing hardware and software solutions for consumers, patients, clinicians and health institutions.  The company also has many years of experience in AI research in the field of medicine and healthcare. Philips already has several working AI-powered solutions at different levels, including research, diagnosis and treatment, home care and population health management.

Some examples include HealthSuite Insights, Philips’ platform for data scientists, which enables them to create and access quality health data sources and create analytical models for different purposes such as diagnosis and treatment. CareSageis another AI-powered solution offering predictive analytics. It helps prevent avoidable hospital admissions and emergency room visits by aggregating different health data sources and performing predictive analytics.

IntelliSpace Console gathers real-time information from connected health devices in the complex ICU setting and combines them with data obtained from hospital information systems and health records to help clinicians with predictive insights of the patient’s health and support them with timely and effective treatment decisions.

#4 Computer vision — Panasonic

As our robots and AI algorithms become increasingly involved in interactions with the physical world, they need to better understand what’s going on around them. The field of computer vision is a subset of AI that helps computers analyze the content of images and video and distinguish different objects. Computer vision is an important part of AI-powered technologies such as self-driving cars, security cameras, social media, healthcare, banking and more. The cool part of becoming involved in computer vision is that you get to work on a variety of interesting projects in different fields.

One of the companies actively involved in developing computer vision technology is Japanese electronics manufacturer Panasonic, which collaborates with research centers and universities to develop deep learning technologies. Panasonic is working on several interesting computer vision projects for special purposes, such as better pedestrian detection for autonomous vehicles and automatic inspection of damsthrough highly detailed image analysis.

#5 Cybersecurity — Palo Alto Networks

As organizations continue to generate more and more data every day, security and IT teams are finding it increasingly difficult to protect networks and prevent data breaches. According to estimates, an average organization has to process over 200,00 security events every day. Hopefully, AI and machine learning can advance security teams by perusing through data at ultrafast speeds and finding alarming patterns that need further investigation by a human analyst.

This is a fast-evolving field and many companies are employing AI to enhance their security systems to be able to respond to the growing needs of the market. Among them is Palo Alto Networks, an enterprise security company based in Silicon Valley, which has been integrating AI into its cyber threat detection and prevention software in the past year.

Earlier this year, Palo Alto Networks introduced Magnifier, a behavioral analytics solution that uses machine learning algorithms to investigate network traffic and discover stealthy activity that might be hiding a data breach. The company is working on many other projects and is on the lookout for AI talent.

Leave a Reply

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