Artificial Intelligent

Eight Areas Reshaped By Artificial Intelligence

Eight Areas Reshaped By Artificial Intelligence

What areas will be heavily reshaped by artificial intelligence? The experts of the Future Trends Forum, the Bankinter Innovation Foundation think tank, highlight these eight. Artificial intelligence has made a quite secretive entrance. We use it daily at work, for entertainment, or at home. As mentioned by our trustee Wilfried Vanhonacker, this technology is more […]

What areas will be heavily reshaped by artificial intelligence? The experts of the Future Trends Forum, the Bankinter Innovation Foundation think tank, highlight these eight.

Artificial intelligence has made a quite secretive entrance. We use it daily at work, for entertainment, or at home.

As mentioned by our trustee Wilfried Vanhonacker, this technology is more than an emerging market: it will overhaul all industries and will turn all business processes into smart business processes.

What areas will undergo a more radical transformation due to artificial intelligence? The experts of the Future Trends Forum, the Bankinter Innovation Foundation think tank, highlight these eight areas:

1. Mobility

Although still emergent, artificial intelligence applications to mobility are very promising, the self-driving car being one example.

2. Marketing

The success of artificial intelligence marketing applications is a mix of machine learning and process optimization. Machine learning forecasts support correct decision-making.

Forecasting consumer behaviors regarding the next product to be bought, or forecasting demand for a specific store, enable inventory and personnel optimization. These are just some of the artificial intelligence applications to marketing.

3. Business Management and Optimization

Behavioral economics tries to understand how human beings take decisions as economic agents, knowing that we do not always do it optimally.

Neuro economics is a field of study within behavioral economics. It studies cognitive behaviors for decision-making, purchases, or investments. AI works to automate these processes and render them more efficient.

4. Healthcare and Well-Being

Artificial intelligence will help us monitor our bodies and enjoy healthy habits and well-being. This technology is a tool to support medical decision-making, enhance diagnostics, and encourage healthy behaviors.

5. Fintech

Artificial intelligence will promote the growth of the fintech industry on the back of data management.

6. Legal

AI applications to the legal field have two sides: How to apply the law to artificial intelligence and how to apply artificial intelligence to the law.

Historically, legal systems have been quite poor, technologically speaking. Then, in the 20th century, and the advent of the computer revolution, legal services have faced a new paradigm: not only services have been digitalized, but also, there is a need to build systems that combine legal knowledge with technological methodologies and processes, and—why not! —with AI as well.

7. e-Commerce

Artificial intelligence is having an impact on online (and off-line) commerce in different ways. Some are quite visible and personal, such as purchase recommendations. It also supports logistics optimization: from planning the delivery route to drone delivery or using autonomous robots in warehouses.

8. Work

How will artificial intelligence affect jobs? Calum Chace, author and AI expert, says that this is not the first technological revolution having impact on employment—the industrial revolution already did. Computers are developing exponentially, and some jobs will be automated.

Some experts say that the production system will change, and the singularity economy will come to be, whereby machines will produce, and human beings will enjoy more time to learn, recycle and create new ideas.

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