AI in Industries
Updated: Oct 16, 2022
Artificial Intelligence or AI, the revolutionary technology behind the fourth industrial revolution has changed the world. But how exactly do you define this revolutionary technology? There are different ways to define Artificial intelligence in our world. The simplest way to define AI is by teaching machines to learn and act as a human would. It is something that acts intelligently and extends human capabilities to accomplish a task that humans could not do on their own. The difference between technology that came before and between Machine learning is that humans had to manually hard code every pattern and technology was like a rigid tree system. It only performed according to the set input mathematical algorithms that were hard coded. But machine learning is able to find these patterns on its own.
Source : https://www.pwc.com/gx/en/industries/healthcare/publications/ai-robotics-new-health/transforming-healthcare.html
What Is AI?
Artificial intelligence deals with the simulation of intelligent behavior which demonstrates planning, problem-solving, reasoning, learning, and knowledge representation. Machine learning, a subset of AI uses computer algorithms to analyze data from examples and use that data to make accurate decisions without being programmed with rule-based algorithms. Deep learning, a specialized subset of Machine learning labels, categorizes information and identifies patterns using layered neural networks. This enables AI to continuously learn and improve its accuracy and decision-making quality.
Application of AI
From healthcare, business, finance, and data mining to gaming, AI has provided leverage to every sector in the value chain in the 21st century. With the vast scope of AI technology, a report from the National Association of Software and Services Companies (NASSCOM) suggests that integrated adoption of AI and Data utilization can add $500 billion to India’s GDP by 2025. Every person has their own interpretation of AI. For a game developer, AI means writing codes that affect how bots react to the environment and to the player. For a Data scientist AI is something that helps in gathering, exploring, classifying, and analyzing the data to meet a certain goal. In the Robotics and Automation Industry, AI technologies help to perceive the environment and take decisions for unpredictable environments as they change around a robot. Hence, every aspect of our lives has been enhanced by Artificial intelligence.
Applications of AI in Healthcare
We have been using AI technologies extensively in many domains such as Health Care. Its potential and application in the healthcare sector are immense, and with upcoming technology, it will play an immensely important role in the upcoming years. With an aging population, an increase in the number of new diseases and a lack of physicians, AI, and machine learning plays a huge role in easier, faster, and more accurate diagnosis of diseases and their treatment. One example of an AI application could be in a company called Eko Devices. They took a stethoscope and transformed it into a digital device by adding a digitizer to it that captures the analog sounds and transforms them into digital signals, hence amplifying the sounds for better hearing. These digital signals are also transferred to the smartphone or computer and converted to a graph which the doctors are able to analyze better. This information is now a central machine learning algorithm where the machine could automatically diagnose the disease using its previous learning.
AI-based care using chatbots and telehealth has also started becoming prevalent in recent times where chatbots are used to converse and diagnose patients like actual doctors.
AI has fuelled advancements in the diagnosis and treatment in the healthcare sector which was previously thought to be impossible. Back in the day, physicians had to collect data manually but now with the incorporation of digitalization and technology in the industry, the medical sector has grown tremendously to battle the increase in new and incurable diseases with the help of modern medicines and accurate diagnosis and treatment in a cost-effective manner.
Application of AI in the Oil & Gas Industry
Proving to be a goldmine for the Oil & gas industry, AI has tremendous uses and applications in this sector. To explore and discover new Oil & Gas prospects, and to enhance the recovery from existing fields, AI has been deployed in many ways in the industry. Some of these applications help in optimizing production with the of use computer vision to analyze the subsurface and seismic data faster, reduction of downtime and proper maintenance of equipment, and understand, study, and analyze the reservoir models faster for possible prospect zone.
Some examples of AI applications in the Oil & Gas Sector
A company called Exxon Mobil aims to use a deep-sea robot that will enhance the natural seep detection capabilities. These robots are powerful enough to detect these natural oil seeps in the deep seas which will help reduce the exploration process and hence lesser damage to the marine life is imparted.
Wadia Institute of Himalayan Geology (WIHG) discovered an AI-based technology that helps in analyzing seismic data. This determines the geological and geophysical features in the subsurface, helping in hydrocarbon exploration in less time, in a cost-effective manner, and with higher efficiency. This will eventually lead to efficient exploration hence causing less harm to the environment and also smooth drilling and production of the oil and gas from the subsurface.
Another major application of AI in the oil and gas industry is to assess the unplanned downtimes. Unplanned downtimes cause loss of millions of dollars to the offshore oil and gas platforms. The major benefit of the AI software incorporated these days, is its ability to predict well collapse before it takes place, reduce maintenance, increase efficiency, and increase its life. AI also detects defects in the production line after deep analysis of defects which helps validate the production quality. Pattern recognition utilizing deep learning is also used to alarm the operators on the equipment’s health, and prevent possible disasters
AI has played a very important role in not only the healthcare and Oil & Gas industries but every sector present today. It is a wide-ranging tool that enables people to analyze, collect, integrate information, and use those resulting insights to make improved decisions, thereby transforming every walk of life towards a better future.