AI products generate a lot of discussion. Despite the concerns, artificial intelligence is growing by leaps and bounds. Here, we’ll discuss some well-known real-world examples of AI products and their workings.
Artificial intelligence covers a variety of concepts like machine learning, deep learning, natural language processing, computer vision, etc. AI has become integral to our lives in recent times. AI is versatile and can be used in a plethora of activities, operations, and industries.
The global artificial intelligence market is over $136.6 billion, while the AI industry is expected to grow by 13x in the next seven years with a CAGR (compound annual growth rate) of 38.1%. Another report shows that 87% of global companies think AI gives them a competitive edge in the market. Be it in our personal or professional life, we cannot avoid using AI products in some form.
It’s no surprise that SMBs, MSMEs, emerging businesses, and large enterprises are partnering with AI product development companies to build and deploy custom applications powered by artificial intelligence.
This blog details real-world examples of AI products used by several people from around the globe.
Almost half the businesses (48%) use some form of artificial intelligence, machine learning, and data analytics in their establishments. AI is meant for personal (individual), team, organizational, and global use. A few common examples of artificial intelligence in our day-to-day lives are listed below.
Chatting, commenting, emailing, etc., are a part of our lives. The keypad apps in smartphones have built-in AI to auto-predict the sentences and emojis. Gmail also has an auto-predictor that suggests the next part of the sentence as you type.
Bloggers, content writers, and authors rely on AI text editors like Grammarly, ProWritingAid, etc., to streamline content. From identifying typos and punctuation mistakes to making suggestions about better sentence structures, the software improves the quality of writing. Artificial intelligence algorithms are trained on high-quality language data to identify errors in the input content and rectify them. The AI product development team also trains to understand the grammar rules and differences between different types of English.
Maps and GPS are some of the best real-world examples of AI products in action. Instead of using printed maps, we access the map and route through Google or Apple Maps. By connecting the phone to the car’s software, The GPS system will give directions in real-time. While GPS has been here for a while, the system has been enhanced by integrating it with artificial intelligence.
Machine learning algorithms are now taught to understand traffic flow, remember and recognize house numbers, and identify the best route to your destination. Taking things a step further, AI and ML are essential in self-driven cars, where two or more cars constantly communicate with each other.
Facial recognition is another real-world AI product. The face lock security feature on smartphones is a perfect example of this. Many places, like airports, etc., use facial recognition to confirm your identity. It is a part of security and surveillance systems. The police use facial recognition software when checking leads and suspects to find the criminal.
Smart cameras come with this software to enhance the quality of selfies. Many apps like Snapchat, TikTok, etc., use it to add filters and customize images/ videos. Facial recognition is combined with AR technology for users to get a real-time experience in trying makeup products, eyewear, jewelry, etc.
Search algorithms are not limited to SEO. They are backed by artificial intelligence to provide personalized results based on your search history and preferences. For example, if you search for a handbag, you will notice relevant ads on your social media platforms and other websites.
Platforms like Facebook, Instagram, X, etc., train their algorithms to provide content based on the posts you like, comment, and share. Over time, the algorithms learn the behavior and tailor the feed accordingly. This is useful as you can avoid seeing content you don’t like. However, it can also feed you misinformation and half-truths.
Real-world AI products are rampant in the healthcare industry, with many hospitals and pharma companies investing in advanced technology. Data shows that 38% of medical and healthcare providers use computer-aided diagnosis when treating patients.
Be it better diagnosis, personalized treatment plans, early detection of diseases, remote patient care, or faster drug discovery, artificial intelligence has a prominent role in the healthcare sector. Doctors are using robotic arms for complex surgeries. Mixed reality (MR) devices are also used to access patient information and get remote assistance during operations. Chatbots and virtual therapists are more examples of AI in healthcare.
The customer service industry is quickly using chatbots to interact with customers. While the earlier chatbots had limited features, the ones powered by AI are more efficient in handling customer queries and complaints. Moreover, chatbots can interact with multiple users simultaneously and work 24*7 without tiring. This reduces the pressure on the representatives.
Businesses from every industry use chatbots in today’s world to enhance customer service. From tracking information, taking orders, answering queries, and generating tickets, the chatbots can handle several tasks with ease.
Payment apps are well-known AI products in everyday life. Google Pay, PhonePe, Paytm, etc., are commonly used payment apps in India to make instant electronic payments by scanning a QR code. Many banks now use artificial intelligence algorithms for fraud detection to prevent scams and dubious transactions.
AI is also used for identity management, account management, and security management in banks, insurance companies, and financial institutions. The credit card spending patterns can be analyzed using artificial intelligence to understand the customer’s LTV and increase limits or offer loans.
Home assistants are the easiest example of AI products used in our day-to-day lives. Many of us have a home assistant device like Alexa, Siri, Cortana, or Google Assistant to play music, place an order, read out webpages, or provide answers to our questions by searching on the internet. They are hands-free devices that listen to our voice and respond by answering in audio.
Among the various home assistants, Loup Ventures says Google Assistant has 93% accuracy, the highest in the market. These can be integrated with smart home technology to turn on/ off the bulbs, adjust the volume of the music system, change the thermostat temperature, and do much more. Home assistants can also improve the security of your place.
Generative AI has taken chatbots to the next level. They can not only give us pre-determined replies but can understand our input and provide a more detailed and realistic response. ChatGPT by OpenAI took the world by storm. It was followed by Google Bard and Microsoft Bing, though ChatGPT continues to be the most used chatbot. A survey by Forbes reported that 97% of companies think ChatGPT will have a positive impact on their operations.
These chatbots can write and debug code, write stories and poems, create recipes, brainstorm ideas, and do much more. Bing is also an AI image generator that can convert text input to images. Despite the ethical concerns, many people are actively using AI images and music generators for various purposes.
PrepAI is a (natural language processing) NLP-based assessment platform for personal and professional use. It can convert input data into a question paper with different types of questions like MCQs, fillups, true/ false, etc. PrepAI is used by students, parents, schools, coaching centers, educational institutions, and HR teams to assess the skills and knowledge of several candidates.
Companies like DataToBiz have advanced AI product development tools to build, deploy, customize, and integrate artificial intelligence-powered platforms for versatile use. For example, the company has also developed HirelakeAI to automate resume parsing in SMBs. According to Forbes, 4 in 5 organizations say AI adoption is their top priority.
A report by Business Insider shows the Netflix Recommendation Engine is worth a billion of the streaming platform’s annual revenue. Netflix has overcome the AI product development challenges to build its recommendation engine for personalized user experience.
The powerful algorithm uses user data like views, likes, searches, etc., to recommend the most suitable shows for each user. This saves time as the user doesn’t have to manually go through lists to find a new show/ movie. The more you use the platform, the better the recommendations.
Other streaming platforms, like Spotify, YouTube, Amazon Prime, etc., also use their recommendation engine to personalize your feed and help you find more content that aligns with your taste.
The wearable AI market is predicted to reach $180 billion by 2025. Smartwatches, fitness trackers, etc., are wearables that work like IoT (Internet of Things) devices by collecting information in real-time and sharing it with other devices. The wearables monitor your heartbeat rate, blood pressure, calorie count, sleep activity, and more.
AI product development solutions include building wearables for factory workers and mining employees to improve workplace safety and reduce the risk of accidents. These are gaining popularity in the manufacturing, mining, and oil & gas industries.
Artificial intelligence is just about everywhere. As new technology is released into the market, AI will become more intrinsic and inseparable from our lives. Even startups are investing in artificial intelligence to survive competition and build a presence amidst established brands.
In such instances, partnering with a reliable and experienced AI product development agency is a sure way to achieve your goals. Whether you are an entrepreneur, a home business owner, or a branded multinational company, taking the help of an AI company can boost ROI and enhance customer experience.
Fact checked by –
Akansha Rani ~ Content Creator & Copy Writer
Sunaina Meena ~ Digital Marketing Specialist
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