Key AI Industries & Applications collated from various sources:
Agriculture:
It has been stated that our planet would need 50% more food than that being produced today by the year 2050. And once again, AI could be the solution to this challenging task. PEAT is a Berlin-based start-up that has successfully designed and developed an AI application software for analyzing the nutrient profile of the soil.
Some of the ways they are helping solve the problems of the agriculture industry are by enabling higher production and reduced operational cost and increasing the efficiency of cultural practices.
Apart from the information regarding the soil profile, the new age IoT-based AI modules assist with applications of climate prediction, crop management practices, fertilizer optimization, and organically nurtured produce.
Finance:
Artificial Intelligence has found many applications in the Finance industry. Some of the applications lie in credit decisions, managing risk, fraud prevention, quantitative trading, personalized banking, process automation and much more.
ZestFinance has come up with Zest Automated Machine Learning (ZAML). It is an AI-powered underwriting platform that is helping finance companies to assess the credibility of borrowers with little or no credit history. Thousands of data points are used to provide a level of transparency that other underwriting solutions fail to provide. ZAML is an end to end platform which is easily scalable.
Similarly, there are many other start-ups that are coming up with AI solutions to transform the traditional ways prevailing in the industry.
Healthcare:
Improvement in the state of healthcare system holds immense importance as it directly reflects on critical aspects such as quality of treatment, life expectancy, etc.
Enlitic, a California based AI organization that develops ‘deep learning’ based tools to streamline radiology diagnosis. The deep learning platform analyses the unstructured data such as blood tests, radiology images, genomics, EKGs, etc. along with complete patient medical history. It then provides medical practitioners with actionable insights based on this data to understand patients’ real-time needs. Enlitic has been named the 5th smartest AI company in the world by MIT. It has left behind Facebook and Microsoft in the said ranking.
Named the ‘Most Innovative Healthcare AI Developments of 2019’, BioXcel Therapeutic’s work in AI-based drug development is phenomenal. The company uses AI to identify and develop new medicines in the domain of neuroscience and immuno-oncology. They also work towards finding new applications for existing drugs with the help of AI.
Space and Aeronautics:
Artificial Intelligence has paved its way into extraterrestrial exploration and helping space scientists to find hints of life on other planets. It is being considered to send artificial Intelligence bots to other planets to conduct studies on the presence of life, based on the climatic activities and presence of natural resources around.
Another application lies with managing the humongous amount of data that is received from satellites. The significant amount of data gathered by NASA from these satellites is in the form of ocean currents, volcanic activity, ic states, and a bird’s eye view of what is happening on the Earth.
Agriculture:
It has been stated that our planet would need 50% more food than that being produced today by the year 2050. And once again, AI could be the solution to this challenging task. PEAT is a Berlin-based start-up that has successfully designed and developed an AI application software for analyzing the nutrient profile of the soil.
Some of the ways they are helping solve the problems of the agriculture industry are by enabling higher production and reduced operational cost and increasing the efficiency of cultural practices.
Apart from the information regarding the soil profile, the new age IoT-based AI modules assist with applications of climate prediction, crop management practices, fertilizer optimization, and organically nurtured produce.
Finance:
Artificial Intelligence has found many applications in the Finance industry. Some of the applications lie in credit decisions, managing risk, fraud prevention, quantitative trading, personalized banking, process automation and much more.
ZestFinance has come up with Zest Automated Machine Learning (ZAML). It is an AI-powered underwriting platform that is helping finance companies to assess the credibility of borrowers with little or no credit history. Thousands of data points are used to provide a level of transparency that other underwriting solutions fail to provide. ZAML is an end to end platform which is easily scalable.
Similarly, there are many other start-ups that are coming up with AI solutions to transform the traditional ways prevailing in the industry.
Healthcare:
Improvement in the state of healthcare system holds immense importance as it directly reflects on critical aspects such as quality of treatment, life expectancy, etc.
Enlitic, a California based AI organization that develops ‘deep learning’ based tools to streamline radiology diagnosis. The deep learning platform analyses the unstructured data such as blood tests, radiology images, genomics, EKGs, etc. along with complete patient medical history. It then provides medical practitioners with actionable insights based on this data to understand patients’ real-time needs. Enlitic has been named the 5th smartest AI company in the world by MIT. It has left behind Facebook and Microsoft in the said ranking.
Named the ‘Most Innovative Healthcare AI Developments of 2019’, BioXcel Therapeutic’s work in AI-based drug development is phenomenal. The company uses AI to identify and develop new medicines in the domain of neuroscience and immuno-oncology. They also work towards finding new applications for existing drugs with the help of AI.
Space and Aeronautics:
Artificial Intelligence has paved its way into extraterrestrial exploration and helping space scientists to find hints of life on other planets. It is being considered to send artificial Intelligence bots to other planets to conduct studies on the presence of life, based on the climatic activities and presence of natural resources around.
Another application lies with managing the humongous amount of data that is received from satellites. The significant amount of data gathered by NASA from these satellites is in the form of ocean currents, volcanic activity, ic states, and a bird’s eye view of what is happening on the Earth.
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