How Artificial Intelligence is transforming business…

How Artificial Intelligence is transforming business…

July 31 2018

Artificial Intelligence has the capability of fixing the world’s biggest problems, from reducing energy consumption to fighting disease, the potential is ground breaking. AI can be used to do human things but much more efficiently and cost effectively.

Here are some industry’s you may have not have thought about where AI is assisting:

Legal

Gilbert & Tobin’s Chief Innovation Officer, Caryn Sandler has seen new types of AI emerge in recent years in an attempt to solve pain points for lawyers within legal processes – “Pattern analysis AI tools search large document sets for clauses in the due diligence process, and highlight potential areas of legal risk, which would take an inordinate amount of time for a human lawyer to complete manually.”

Caryn believes that the prerequisite for further AI development in the legal sector is more data, “AI on its own can take us so far, but the combination of data, logic, knowledge and other tools and approaches will result in the next stage of transformation.”

At the University of Technology Sydney, the Faculty of Law has already reworked their curriculum’s for law students based on the impact of emerging technologies such as AI. Dr. Philippa Ryan is a senior lecturer within the faculty and believes it is a necessary step for students who wish to remain competitive once they graduate.

Artificial Intelligence will undoubtedly transform legal service delivery, giving lawyers more time to focus on high-value legal work.

Healthcare

Artificial intelligence is gaining significant momentum in healthcare through the use of big data, automation, robotics and wellness wearables.  It has been used to accurately detect diseases from an early stage, specifically with mammograms, which the American Cancer Society indicated often yield false results without the assistance of AI – “The use of AI is enabling review and translation of mammograms 30 times faster with 99% accuracy, reducing the need for unnecessary biopsies.”

AI powered pattern recognition tools are helping practitioners identify patients who might be at risk to certain conditions or diseases at an early stage by identifying deteriorating lifestyle patterns, environmental or genomic factors.

It is clear that the healthcare industry has already begun benefiting greatly from the assistance of AI.

Manufacturing

Traditionally, manufacturing has always been powered by human interaction, but with the dawn of what many are calling Industry 4.0 (fourth industrial revolution) comes the availability of new technology such as AI to assist the manufacturing process.

AI can assist manufacturers predict supply and demand by providing better sensory capabilities than what has traditionally been used, ultimately creating more precise, efficient and safer processes.

Machine vision is one of these applications, providing cameras far more sensitive than the human eye to process and analyse images more effectively.

 

Written by Matt Lathlean 

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