5 Applications of Artificial Intelligence That Will Transform Our World In 2022

In 2022, the AI market will be worth more than $32 billion, and the number of applications of artificial intelligence in our daily lives will grow even faster. Artificial intelligence has already started to change how we shop, how we communicate with each other, and how we drive—and that’s just the beginning.

If you are little aware of the tech around us you would have realized that we have seen significant advancements in artificial intelligence and machine learning, and AI will be used in ways that will have changed the world as we know it. Here are five applications of artificial intelligence that will make an impact on our lives by 2022.

1) AI in retail

Retail is one of the most important use cases for artificial intelligence. By 2022, AI is expected to help retailers boost their operating margins by more than 60%. In addition to improving customer service and recommendations, AI can also be used for fraud detection, supply chain management, and price optimization.

Currently, the United States leads the world in retail technology investment, but China is quickly catching up. A recent report from Goldman Sachs found that American retailers are spending $1 billion less on e-commerce technology per year than their Chinese counterparts. The future of AI in retail will depend on whether or not American companies are able to keep up with foreign competitors in developing cutting-edge technologies and hiring talented engineers.

2) Fulfilling orders on demand

In a recent study, it was shown that over 60% of people are willing to pay more for a product if they can get it delivered to them the same day. This use case of artificial intelligence is called fulfilling orders on demand and it is a game changer for businesses.

With this technology, businesses can keep track of inventory in real-time and route orders to the nearest fulfilment centre. This means that customers can get their orders faster and with less hassle. AI has also been able to reduce order mistakes by 85%.

Additionally, AI can help reduce costs because fewer errors mean less money wasted on return shipments. Artificial intelligence is used today in warehouses where robots pick items off shelves so humans don't have to waste time doing the hard work.

3) Smart Industry

In the smart industry, AI is used to predict maintenance needs, automate quality control, and optimize production schedules. This reduces downtime, increases efficiency, and improves safety.

Data-driven marketing: Smart robots are used for targeted marketing by matching a customer’s needs with the most relevant products.

Remote presence: Telepresence robots can be used to let workers remotely help customers with tasks such as demonstrating products or teaching classes.

Automated hospitality: Smart robots provide a helpful receptionist or concierge service at hotels, airports, and train stations; they also greet visitors at large events or provide them with guided tours.

Intelligent infrastructure: Infrastructure may be monitored by sensors or drones to identify problems before they cause damage. Robots may also monitor traffic flow or perform maintenance on bridges while collecting data on wear and tear.

4) AI in Content Creation

Artificial intelligence can help content creators in a few ways. For one, AI can be used to research and gather data for articles or blog posts. Additionally, AI can be used to help improve the quality of writing by checking for grammar and spelling errors. Finally, AI can be used to generate ideas for new content or topics to write about.

Why use artificial intelligence? The speed and accuracy of AI are unmatched by human beings. Where is it used today? For example, Google Translate uses AI to convert languages on-the-fly without needing an internet connection.

Another big example is the GPT-3 model developed and maintained by the Open AI Lab of San Francisco which is used by content writers to automate content creation with over 90% accuracy.

But one potential drawback is the risk of false information being presented as truth due to automated processes being unable to discern fact from fiction.

5) Friendly chatbots

One popular use case for artificial intelligence is chatbots. You may have interacted with a chatbot before without even realizing it! Chatbots are used to simulate conversation with a human. They can be used to answer customer questions, provide support, or even just make small talk. As more and more businesses adopt chatbots, they are becoming more and more sophisticated.

In the future, we will see even more amazing things that chatbots can do! For example, they could act as a personal assistant. Imagine if you could tell your chatbot what you want to eat tonight and it would create an entire meal plan for you - all based on your dietary preferences!

This type of technology has already been developed in some instances. For example, there are many chatbots which can restore your old, worn-out black & white photos from the 90s to a coloured crisp image which uses an API. Or you can even do it manually to restore your old images using AI this way.

As we move into the future, it's important to keep an eye on the ever-changing landscape of technology. Artificial intelligence is one area that is sure to have a major impact in the coming years.