Artificial intelligence tools are quickly becoming indispensable across a wide range of sectors. AI tools can be used to automate tasks, provide insights from large data sets, and even create new products and services. From helping doctors make more accurate diagnoses to optimizing manufacturing processes, AI tools are both disrupting and accelerating every sector. And as the technology progresses, the applications for AI are only continuing to grow. In this article, we’ll take a look at some of the latest and most innovative AI tools in development today.
What are some of the newest applications of AI tools across various industries?
1. In Healthcare: AI is being used in healthcare to provide more accurate diagnoses and treatments. AI-powered tools can analyze medical images to detect diseases, identify anomalies, and help doctors make more informed decisions.
2. In Retail: AI is being used in retail to personalize customer experiences. AI-powered tools can be used to analyze customer data to recommend products and services that are tailored to each individual customer. Another use in retail is with ecommerce where AI-powered chat bots can help streamline some interactions with customers, such as answering common questions or providing automated support .
3. In Manufacturing: AI is being used to automate manufacturing processes and optimize production. AI-powered tools can analyze production data to identify and address inefficiencies, and even predict potential problems before they happen.
4. In Finance: AI is being used to automate financial processes, such as fraud detection, risk assessment, and portfolio management. AI-powered tools can analyze large data sets and identify patterns that can be used to make more informed decisions.
5. In Education: AI is being used to personalize learning experiences. AI-powered tools can identify a student’s learning needs, generate personalized curriculums, and even provide feedback to teachers. And for students, AI-powered tools are being used to support students with their research, such as providing instant access to online sources, helping them to analyze data, and generating summaries of content.
6. In Banking: AI is being used in banking to detect fraud and automate processes. AI-powered tools can analyze customer data to identify suspicious activity and alert banking institutions about potential risks.
7. In Marketing: AI is being used in marketing to target the right audiences and optimize campaigns. AI-powered tools can analyze large amounts of customer data to identify potential customers, tailor ads, and measure the performance of campaigns. Content marketing is also being transformed by AI-powered tools which can generate relevant and engaging content.
So, who are the leading developers of AI tools across all these sectors right now?
While the big tech companies are certainly still major players in AI development, a number of smaller startups are also gaining attention for their innovative AI tools. This list is not meant to be comprehensive but to give a sense of all the incredible things happening from companies you may not know.
| Start-up | Sector | What problem is AI solving? |
| Instapage | Marketing – Campaign Optimization | Uses machine learning and predictive analytics to help marketers optimize their campaigns by identifying best performing ads, landing |
| Persado | Marketing – Content optimization and A/B Testing | Uses AI to generate persuasive content that can help marketers reach their target audience and drive better performance. |
| MarketMuse | Marketing – SEO Strategy | Uses AI to help optimize content for search engines, identifying potential gaps or areas for improvement and offering recommendations on how to improve visibility. |
| Sprinklr | Marketing – Customer Service | Uses AI to help businesses manage customer service across multiple channels such as social media, email, and messaging platforms. This enables them to respond quickly to customer queries, increase efficiency, and improve customer satisfaction. |
| Rev.com | Marketing – Transcription | Utilizes AI to turn spoken audio into written text. AI generates accurate transcriptions in minimal time, saving users the time and hassle of manual transcription. |
| Zephyrus | Healthcare – Medicine | Uses machine learning to analyze medical images and detect abnormalities. This helps healthcare professionals make faster and more accurate diagnoses. This is significant because a misdiagnosis or delayed diagnosis can seriously impact a patient’s health and treatment outcomes. With Zephyrus’ technology, doctors can be more confident in their diagnostic decisions and act on them more quickly. |
| Enlitic | Healthcare – Medical Imaging | Utilizes deep learning algorithms to analyze medical images and assist with clinical decision-making. Their deep learning algorithms allow them to analyze medical images in novel ways that wouldn’t be possible for humans alone. Being able to extract more insights from this data can help doctors make more informed clinical decisions and provide better care to patients. |
| PathAI | Healthcare – Pathology | Uses AI to improve the accuracy of diagnoses in pathology, as well as to identify which treatment options might work best for individual patients. Today, recommendations for the best treatment options for individual patients is done manually and can be time-consuming and error-prone. By automating this process, PathAI is helping doctors offer more personalized and effective care. |
| Knewton | Education – Adaptive Learning | Uses AI to help personalize learning experiences for students, by identifying their strengths and weaknesses and adapting content accordingly. Like intelligent tutors that adapt to progress. |
| Otter.ai | Education – Transcription | Uses AI to automatically transcribe conversations or meetings, making content more easily searchable and accessible. This allows students to automatically transcribe lectures, making it easier to take notes or review content later on. Some students may also find it useful for group study sessions or meetings, enabling them to focus on the conversation rather than worrying about writing everything down. |
| Cognii | Education – Adaptive Learning | Uses AI to help educators create personalized learning experiences for their students. By analyzing individual students’ performance, Cognii is able to dynamically adjust the level of difficulty and content to maximize learning. |
| ViSenze | Retail/E-commerce | Uses AI to power visual search on retail websites or mobile apps, allowing users to search for products by uploading images. This can improve customer engagement and conversion rates. |
| Receptiviti | Retail – Customer Analytics | Uses AI to help businesses understand their customers’ behavior and preferences, enabling them to create better customer experiences. Receptiviti uses an API that measures people’s personality, psychology, and emotions from their language. Receptiviti is based on decades of research by experts in language, psychology, machine learning and data science. |
| Featurespace | Finance – Fraud Detection | Uses machine learning and behavioral analytics to detect financial crime and fraud in real-time, helping businesses reduce their risk. |
| CreditVidya | Finance – Credit Risk | Utilizes predictive modeling and machine learning to assess credit risk for financial institutions, enabling them to make more informed lending decisions. |
| Cognitivescale | Finance – Wealth Management | Offers an AI-powered platform for wealth managers that allows for predictive analytics, portfolio optimization, and personalized investment recommendations. |
| Sight Machine | Manufacturing – Process Optimization | Utilizes AI to help manufacturers monitor their operations in real-time, predict potential issues, and optimize production. |
| Fero La | Manufacturing – Data Analytics | Uses machine learning algorithms to help manufacturers understand complex production processes and identify opportunities to improve efficiency and quality. |
| Noodle.ai | Manufacturing – Predictive Maintenance | Combines AI and data analytics to help manufacturers anticipate when a piece of equipment will need service, reducing downtime and improving productivity. |
| Open AI | General AI | Creates powerful generative AI models that can understand and produce language in a natural way. This breakthrough technology is enabling advancements in areas such as natural language processing (NLP) and machine translation. |
| AI21 Labs | General AI | Utilizes generative AI to develop powerful natural language models that can read and write with a deep understanding of language. This technology pushes the boundaries of NLP, enabling more accurate translations, summaries, and question-answering capabilities. It appears that Open AI has a broader mandate, with the goal of developing artificial general intelligence (AGI), while AI21 Labs is specifically focused on pushing the boundaries of natural language processing (NLP). |
AI tools are rapidly becoming essential across a wide range of industries. From healthcare to retail to finance, AI tools are helping automate processes, provide insights from large amounts of data, and create new products and services. The major tech companies are leading the way in developing AI tools, but smaller startups are also playing an important role.
With the potential for AI tools to revolutionize many industries, what companies and new AI solutions are you using and how has it changed your day to day job?
