We are all aware of just how much artificial intelligence (AI) influences different aspects of life, from our daily activities in our personal lives to the application of technology to various aspects of the economy. AI’s use in the world generally keeps increasing daily.  

Music, film, and healthcare are a few of the popular applications one can easily name at any time, but knowing just how much potential AI holds, there are many other professional fields to which AI is being applied, but it isn’t all that popular yet. 

For our tech page this week, we’ll examine these less-than-popular applications of AI, so let’s get right into it. 

Finance 

In finance, AI is being utilised for algorithmic trading, fraud detection, and personalised financial advice. Knowing how easy it is for AI systems to analyse vast amounts of financial data in real-time to make trading decisions faster than human traders, it is no surprise that it is applied to make more calculated and accurate trading decisions. Fraud detection systems use AI to identify unusual transaction patterns, thereby reducing the risk of financial crimes. Moreover, AI-powered robo-advisors provide personalised investment advice based on individual financial goals and risk tolerance. 

Retail 

In the world of buying and selling, the retail experience becomes integrated with AI as it improves personalised shopping recommendations, inventory management, and chatbots. By analysing customer behaviour and preferences, AI can suggest products that align with individual tastes. AI-driven inventory systems predict demand trends, helping retailers manage stock more efficiently. AI-powered chatbots provide instant customer support, improving the shopping experience. 

Customer Service 

AI-driven chatbots and virtual assistants provide instant, 24/7 support to customers. These tools can handle routine inquiries, process orders, and resolve issues without human intervention, improving efficiency and customer satisfaction. UBA’s Leo and Jumia’s Jumia Bot are good examples of AI being deployed, which assist customers with inquiries and orders at any time. 

Agriculture 

Agriculture is one of the least popular areas where AI applications are used, but thanks to AI, agriculture is being transformed through precision farming, crop monitoring, and predictive analytics. AI-powered drones and sensors monitor crop health, soil conditions, and weather patterns, helping farmers optimise irrigation, fertilisation, and pesticide use. Predictive analytics allows for better planning by forecasting crop yields and potential issues, leading to more efficient resource use and increased productivity. 

Environmental protection 

From wildlife conservation to climate change modelling and pollution control, AI has been applied to improve the environment. It helps monitor and protect endangered species, monitor and reduce pollution levels, and predict climate change impacts by analysing vast amounts of data from weather stations, satellites, and historical climate records. These applications of AI demonstrate its potential to address some of the most pressing environmental challenges, making it a powerful tool in the fight to protect our planet. 

AI has proven to be a very versatile and useful tool for various aspects of life. With more genius and stress-free applications coming our way, we all look forward to a life made much easier for humans. 

 

Johnson Chukwueke
+ posts