Did you know the artificial intelligence market is on pace to grow to $407 billion by 2027 versus $86.9 billion in 2022?
One previous report notes that between 400 million and 800 million employees could lose their jobs by 2030 due to automation fueled by AI. Yet, a more recent study indicates that automation is helping to mitigate skills gaps and labor shortages in the IT space. It notes that 25% of businesses are rolling out AI to address those issues. And three in 10 global IT professionals say workers at their companies are saving time with new AI and automation solutions.
AI continues to have a disruptive influence on various sectors — and it continues to evolve and improve. Continue reading to see three industries that are feeling the impact of AI.
- Healthcare
One source notes that AI in the healthcare segment is on pace to expand to $20.65 billion this year compared to $15.1 billion last year. In addition to helping collect accurate patient information, AI can facilitate predictive analytics.
For instance, AI can predict and keep tabs on the spread of infectious diseases by combing over data from healthcare, government, and more. It can also facilitate the early detection and diagnosis of health issues by allowing doctors to monitor patients remotely and receive notifications if problems intensify or risks increase.
Healthcare providers can use AI to be proactive rather than reactive when providing patient health and improving outcomes. They can access AI tools to assess test results, diagnose symptoms faster, develop better preventive care, create treatment plans, and more.
- Retail
Global AI in the retail segment is $6 billion in 2023, and the space is expected to grow at a 30.3% compound annual growth rate of 30.3% between this year and 2033. Fact.MR says in a report that AI is quickly changing the retail sector by allowing companies to personalize customer experiences, increase operational efficiency, and streamline supply chains. AI in retail can offer benefits like automation, sustainability, and loss prevention. It can boost customer satisfaction, lower expenses, and optimize business processes.
One specific example of AI’s impact can be seen in the rollout of self-serve stores that don’t require cashiers. But companies like Amazon have taken things further. Smart grocery stores use AI to monitor what consumers add or remove from their baskets. So, there’s no need to stop at the cashier or to ring up items at self-serve kiosks. Amazon’s smart grocery outlets are equipped with sensors and AI technology. All consumers have to do is submit their payment credentials — whether debit or credit card data — and Amazon’s smart grocery stores will automatically charge consumers when they leave the stores.
- Public Relations
The public relations industry has also leveraged the power of AI. A PR company can use AI tools to find trends and patterns faster and more efficiently than was previously possible, which can help give clients a competitive advantage. Using AI software means PR professionals can spend more time and effort working on campaigns that will appeal to their target demographic.
A tech PR agency can use predictive analytics to assess massive datasets. Doing so will help them find patterns, assess their implications, and predict what’s likely to occur. So, PR firms can leverage predictive analytics to facilitate better decision-making and improve processes and procedures.
Content creation is another way AI is changing the PR space. Much of what PR firms do involves generating content. A digital PR firm can use AI writing software for all stages of the writing process. Whether you need help with developing ideas, conducting research, producing content, or doing all of the above, PR firms can do so with the right AI writing applications. AI also makes it possible for PR agencies to figure out what type of content is likely to go viral, monitor the sentiment of people who post comments online, send press releases to specific media outlets or journalists, and much more. It’s changed the game.
It’s impossible to ignore AI if you operate a PR firm. If you want to help your clients achieve their objectives, using the right AI tools will empower your digital PR firm to do just that.
These are some examples of industries where AI has had a big impact. It’s vital to remember that AI is still evolving, so the potential for technologies with AI baked in is massive. Scarcely any industry will be untouched by AI technology. Even though it’s already had a disruptive impact across sectors, this is only the beginning.
