Artificial Intelligence: For the past few years, we have seen Artificial Intelligence (AI) or Machine Learning (ML) rapidly evolve as the most promising technology of the decade. While there are a lot of misconceptions about AI (“It’s a new concept”, “AI can't get smarter than the people who made it”, or “AI will take away our jobs!”), the expectations and predictions around AI are never-ending. The future of AI is unpredictable. Eventually, AI will be a common technology just like the Internet or World Wide Web but not before making a significant impact on our lives.

Though AI has many limitations like it doesn't have the analyzing capability like humans and thus requires supervision, but for now, AI is here to stay. With Siri, Alexa, Cortana, or the ability to filter your mailbox, or by AI enabled recommendations, AI is not only impacting our daily lives but also is all set to augment businesses. AI has the potential to offer almost $16 trillion to the global economy by 2030.

It would be a misnomer if stated that AI takes quite a long time to make an impact. With AI implementations, Organizations can see benefits within a few weeks. Right from amplifying human abilities across industries, mimicking human characteristics and capitalizing on unique human capacities for creativity and agility - AI is influencing various industries like Agriculture, Manufacturing, Energy & Mining, IT Service Management, Software Development, Healthcare, Banking, Education etc. across the globe. Here are few top industries which are going to be impacted the most in an innovative way by AI in 2019.

Automobile

By 2024, Automotive AI Market share will increase by over USD 10 Billion. When we think about AI application in the Automotive industry, probably the first and only thing comes to our mind is Self-driving cars. But AI does much more than that. AI-enabled cars offer two types of functions: Driver Assistance and Fully Autonomous Driving Mode, which means its capable of keeping us scheduled, connected and safe when we are driving ourselves.

Waymo has recently completed 10 million miles of self-driving and is planning to launch a public ride in 2018 end. After making a buzz in the electric car market, Tesla is also all set to enter the AI enabled automobile market. Incubated in Indian Institute of Science (IISc), Ati Motors, a Bangalore based startup is designing an autonomous electric cargo vehicle to merge this awesome technology to innovate the goods transportation industry. It's safe to say that 2019 is going to see a huge impact and implementation of AI in the Automotive industry.

Telecom

AI is helping the telecom operators to lower operating costs, and improve network efficiency. AI feeds upon the large volume of data associated with the user's devices and the network to better understand, and optimize the network. With a little bit of help from Machine and Deep learning, AI detects and predicts network anomalies, enabling operators to fix it quickly before a customer is hit by it.

When we talk about data, it is the people or consumers who leverage this data. AI and IoT are the key drivers of data, & value, and they both monetize data to create a value proposition. Telecommunications, with such a larger consumer base, will definitely leverage most of the power of AI in the upcoming years.

Financial Industry

Fintech companies are using AI to reduce costs, save time and add value. AI uses predictive analytics to collect financial data, manage investments, anticipate changes in the stock market. With AI, Financial companies and Banks do provide consumers with a personal financial concierge, detects fraud and prevents money laundering.

Well Fargo uses an AI-driven chatbot as a gateway to discuss a consumer's account information or to change the account password. JPMorgan Chase also uses an AI-enabled image recognition software to examine legal banking documents to extract desired information within seconds, which by the way would require 'N' number of hours to be done manually. Bank of America developed a chatbot, Erica, which provides financial guidance to clients. The rate at which Financial institutions are impacted by AI, we will soon notice a huge surge in error-free and secures AI assistance.

Learning & Development (L&D)

With so much of changes in learning through eLearning, Mobile Learning etc., corporate learning is also highly affected by AI. L&D sector is abreast with the latest approaches and methodologies while developing their learning strategies. AI enhances and streamlines content development for the instructional designer. It also helps in understanding learner behaviors and predicts relevant needs by recommending and positioning content based on their past behavior.

It will be interesting to see how AI will impact organizations with their learning, development and talent management objectives in 2019. AI takes into account all the parameters like an employee's educational background, skills, experiences, awards, and ratings etc. to contribute towards larger organizational goals. Sindhu P Aravindakshan, Senior Director-HR, JDA Software, suggests that "There is a lot of space for L&Ds to explore and make learning more learner-centric and personalized.

An effective way to use AI in learning is to have a Learning Newsfeed, which can keep popping up relevant learning bytes to learners based on what medium they prefer. It can be audio, a video, or an article." Recently Tech Mahindra, along with AT&T and Linux Foundation, has launched an AI based, talent exchange marketplace, Talex to help organizations with learning, development, training, upskilling, and talent management within the organization.

AI in the Medical Industry

Medical AI uses machine intelligence and deep learning techniques to perform clinical diagnoses and suggest treatments. AI processes huge amounts of data in the relevant fields of medical diagnosis and treatments to offer reliable and safe systems of healthcare delivery. In 2016, a trio of European scientists developed the “world’s smallest machines” and received the Nobel Prize for science too. Scientists now use these nanomachines to create medical micro-robots and self-healing materials that repair themselves without human intervention.

The Lancet Oncology, a study published by LabRoots, stated that "Artificial Intelligence could process medical images to extract relevant information to determine the efficacy of immunotherapy on a patient to patient basis." Utilization of this AI based determination of the efficacy of a medical condition will help identify patients to what treatment they are most likely to respond.

The author is CEO & Founder of SpringPeople and tweets at @ravikaklasaria