Looking at the current development of Artificial Intelligence, over the course of the next five years we can expect many practical applications that could transform the complete technology viewpoint. However, AI currently has limited application, rather than optimizing the complete process they are channelizing certain steps in the process. AI is currently aiding to limited functions and they primarily add the required automation in function.
Here are Certain Examples:
1. Creation of New Perfumes
Perfumes and scents of all kinds come with certain roots that almost date back to 4,000 years. Many of us might still find it amusing how AI can assist in perfume building rather than in the technology sector. The perfume manufacturer Symrise is working with IBM research to perfect the Philyra, which is an AI that mines historical data and the existing perfume formulations that help in suggesting new variations.
2. Insurance Process
Insurance industry depends on the paperwork and that demands resources for implementation of different scenarios. Most of the insurance claim related application process is carried through a manual process; AI can ease the manual process with tools that can replace the manual process with a faster and efficient system. Insurance startup Lemonade, using their AI, Jim they have been able to settle many of the claims. It can decide whether the length paperwork is required by the policyholder or not. Fukoku Mutual Life Insurance, a Japanese Insurance firm recently turned towards the AI solution to calculate payouts based on the data from medical history and claims submitted.
3. Brewing Industry
IntelligentX, a UK firm who have developed an AI solution that considers user feedback via Facebook to continuously improve their brewing recipes. The machine learning algorithm is known as Automated Brewing Intelligence (ABI) that relies on reinforced learning. The creators of the system are assisting the ABI to learn so that someday it will be able to beat the human brewers at major brewing competition.