Once considered to be something in our wildest dreams, AI/machine learning is now a very real part of our everyday lives. AI/machine learning is currently in many industries and making its way into many more. But not everyone knows how exactly AI/machine learning is affecting businesses.
Wonder no more! Codal breaks down a few of the industries being transformed by AI/machine learning!
Banks and other financial businesses are using AI/machine learning for two main reasons: fraud prevention and data analyzation.
While fraud is rare, it can be very costly. And as data sets grow bigger, it’s even harder to detect fraud, but with AI/machine learning, it just got a little easier. This technology is capable of mining data and analyzing client profiles in order to garner potential signs of fraud.
Insights provided by AI/machine learning analyzed data include investment opportunities or suggestions for investors as to when they ought to trade. Data analyzation helps risk management, which requires identifying risks early on. And with AI/machine learning banks can recognize risky data patterns sooner rather than later.
Looking for an established agency with experience with both finance and AI/machine solutions? Look no further than Codal! For an insider look at our experience, checkout our Charles Schwab case study!
Retail websites are using machine learning in order to analyze your buying history and recommend products based on that data.
Machine learning is beneficial to eCommerce enterprises. For instance, this technology helps eCommerce enterprises make better data driven decisions, optimize processes, and identify new markets.
AI/machine learning also helps create a more personalized custom experience. Likewise, this technology can predict customer service issues before they even occur.
And with 70% of eCommerce taking place via mobile best believe this technology is usable in that platform too!
Wanting to incorporate AI/machine learning into your eCommerce business? Get in touch with an eCommerce web development company and/or a eCommerce mobile app development company, like Codal!
Digital transformation in healthcare is here! AI and machine learning has taken healthcare by storm! Healthcare AI is estimated to have a value of $6.6 billion by 2021 and save the U.S. healthcare industry $150 billion annually. These technologies are making significant strides for both healthcare professionals and patients.
AI is being used for medical diagnoses. For instance, Stanford University created an AI algorithm that identifies and diagnosis skin cancer. This technology is said to be available on mobile phones eventually. Likewise, Google’s parent company, Alphabet, has an AI in the works that uses high-level image recognition to detect metastasis.
In need of healthcare transformation solution? Contact Codal, experts in software development for healthcare, connected healthcare solutions, and more!
AI/machine learning isn’t going anywhere. That being said, take a step in the innovative direction and incorporate this wonderful technology into your business with a little help from Codal, experts in AI/machine learning.