The 9 different applications of AI’s impact: –
- The market conditions are simulated for production forecasts and strategy pricing.
- The digital mock-ups of product features can be created based on the historical successful features or user preferences.
- It can be used in scanning scientific and clinical research data so that other uses for drugs can be identified which have approved already such as drug repositioning.
- It can be used in Robotics automating assembly lines and also for On-demand manufacturing such as to produce goods that are adjusted based on the specifics order that can be turned on or off autonomously.
- The raw materials as per the sales patterns can be auto-ordered and are known for lead or production time.
- The emergency vehicles can be routed to hospitals based on criticality case, staffing, expertise, traffic, and patient load.
- The products and services can be personally recommended and also AI chatbot can be used as a customer service agent.
- The emotions of the call center can be detected and monitoring of the sales is effective.
- In pharmaceuticals, the adverse event can be monitored as per the trends in doctor visits or social media reporting.
The impact of artificial intelligence applications: –
- The risk, time, and expended capital are reduced over the process of moving from strategy to execution.
- Often the symmetry in the information is not seen between the producer and consumer which can be reduced, hence resulting in message tailoring.
- The runway can be reduced that requires an insight before it is generated.
- The costs and the risks with better planning and forecasting can be reduced.
- The output can be more and also better quality with few resources.
- The required time and resources can be reduced in these processes.
Source:- The macroeconomic impact of artificial intelligence by PwC.