EFFECT OF AI IN DIFFERENT INDUSTRIES:

FMCG MARKET:

Inventory management – Possible predictions about the inventory that a dealer should keep at a
particular time of the year – can also take into account seasonal instability. This can also benefit the
manufacturer by knowing how much quantity he should produce

Marketing using AI – Knowing the buying trends and preferences of your customer. Create AI driven
marketing tools to show the customer the exact product that suits them.

HEATHCARE:

Analysis reports can be a whole new thing. AI could possibly be used to go over x-ray scans/ reports,
with which they can detect fractures/small injuries way faster and with greater accuracy.

VIRTUAL REAL ESTATE: (new upcoming industry)

People nowadays buy land in a metaverse then rent it / resell it/ host events/ generate AD revenue
etc. A whole new market is generated in the metaverse.

Different companies can have their own virtual spaces.. Where people can potentially

LETS TAKE META AI for eg they have VR Glasses that can transport you to a virtual environment/
workspace/ play area etc.

HOW WILL IF EFFECT DATACENTERS:

AS AI will advance more data storage and computing power will be required to run them. So the
need of datacenters is bound to increase. For eg. : If we assume that an AI is generated to detect
abnormalities in X-rays. This kind of an AI will require a lot of data to be learnt and a lot of
computing power to run it thus increasing the need of a datacenter.

A way in which AI can help datacenter management is resource allocation which is AI powered. This
will automatically detect the required resources and provide the most optimum way of using them.

For Eg: A company needs cloud services of 4cpu, 16 GB ram, 100GB storage. But this is not required
throughout the year. During off season time they might require less of the resources, so AI
could predict the amount to services they need and allocate only that much during that
time. This will help the company paying less and also will help the datacenter because less of
their resources are allocated in that time which they can use elsewhere. This improves
efficiency to a great extent.

AI can also be helpful to datacenters in maintaining and optimizing their cooling systems –
They can be used to automatically detect how much cooling is required a given time. This
can really help datacenters to cut their costs.

TRADING:

Some tools already exist in the industry, these tools can really help reduce risk to investors
and also help them predict which investment has a greater ROI.
EDUCATION: AI could possible do monotonous tasks like checking answer papers. We could possibly
have answer key that can be a reference for the tool on the basis of which papers could be
checked more efficiently and without any human errors

It could also change the way students learn. People can use AI tools to get information and do
research faster than reading articles or searching the web.

Algorithms can be/have been developed to help students maintain their attendance. These
algorithms can predict when a particular student can take a holiday and can help students to
make their schedules. (One such thing is done in my college).

AGRICULTURE:

AI could possible predict crop heath by using scanning devices. Soil contents can also be predicted
and required changes can be made faster with more accuracy.

AI could also let the farmers know which crop will have a greater yield and which one has greater
demand in the markets near them. Will also be able to predict the future weather patterns affecting
the crops.

BANKING:

AI can help banks analyze risks in giving out loans to people by background checking of the
customers using AI. It can also offer customers personalized loans depending on their income and
their capacity to return loans. The Interest rates return period can be customized according to
customer’s needs.

Can also reduce the repetitive work of employees like data-entry, document verification, and
customer inquiries. This can help the employees to focus on more value adding activities. This will
also reduce the scope of human errors and banks more efficient.

However using AI in banking can have some concerns, since banks deal with a lot of sensitive and
private data it is very important that proper security measures are in place when using AI tools.

Similar to banks large insurance firms can also use AI to determine whether a particular thing is
worth insuring or not, how much is the risk of settlement when insuring an item.
Consequently the customers who approach an insurance company could also use AI to determine
what is worth insuring

DATA ANAYSIS:

Advanced AI can also perform complex tasks such as data analysis. It is capable of generating
complex graphs/ pie charts, along with detailed data Analysis of the graph with different viewpoints.
This endangers the jobs of dedicated data analysts and at the same time increases the jobs of those
people skilled in presenting the AI generated Data reports and further analyzing the data to
determine future strategies according to the results. Thus we can see that the roles of data analysts
will drastically change in the future and they will have to gain other skills.

ENGINEERING:
AI can also drastically change the role and approach of engineers.

For eg: Me and my friends are currently working on a possible start-up idea of making helium filled
backpacks that could possibly reduce the weight of backpacks thus making them more convenient.
Now typically we would have to work on calculation of the upward lift force due to helium, typically
how much volume of helium would we require what would be the optimal density of the gas. So we
would obviously be required to know the formula for the lift force and do humongous calculations
which could also lead to some human errors, but now with advanced AI we can do those calculation
in seconds and the best part is that it would be absolutely accurate too. So now we can focus on
other creative problems to solve like the designing of the bag etc. Hence we can see how the role
has changed, rather than doing the hard work in performing calculations remembering formulas etc.
engineers only require to know basic working concepts and can use AI to build on their idea. But it is
not like the entire bag can be designed by AI. Thus we can see that engineers now only need to know
the concepts in depth rather than knowing how to perform calculations. So the critical thinking
ability is a must and that is what will help the person survive in the future. It just makes the work of
an engineer easier. So AI is a very powerful tool that engineers can use to improve their efficiency.

Personalization: Without AI companies found it very difficult in performing personalization for

Contribution of AI in IOT: One main example of AI in IOT is home automation. People now have
access to technology in which they can control their home appliances from their phone. AI can now
take this technology deeper by understanding patterns in the person use of appliances. AI could
predict the utility of appliances beforehand. For Eg a person comes home at around 7pm what AI
could do is probably switch on the AC of his room around 10 mins before his arrival.

AI could also be used for security surveillance. It can be used to monitor video footages and detect
any abnormalities. This again reduces the need for human supervision and also reduces the change
of human error. Another advantage is that they can be used to monitor huge amounts of footage at
one time. These tools can automatically generate alerts if any abnormalities are detected. Other
than surveillance AI can also be used in going through large videos and locate specific incidents
quickly.