Artificial Intelligence (AI) is an advanced technology that enables machines to complete complex tasks efficiently and effectively. It can help businesses manage their resources better, make it easier to process vast sets of data and make employees more productive.
Great Britain has a long history with science and technology, with AI being the latest to peak its interest. Various firms and organizations are taking advantage of its capabilities to enhance growth and streamline overall processes.
Here are 4 ways Great Britain is adopting artificial intelligence.
The healthcare industry is benefiting from AI for multiple reasons; it supports doctors with diagnosing rare diseases and detecting small variations in overall health, it’s able to identify potential pandemics so the country is better prepared to contain the spread, and it makes imaging diagnostics more effective.
From the patients’ perspective, they can receive their diagnoses faster with improved accuracy, get more personalized treatment and, ultimately, save their lives.
GP surgeries are using AI to better manage appointments, while hospitals are benefiting from its improved scheduling abilities, freeing up doctors and nurses to concentrate on more urgent tasks. In the future, Great Britain plans to use AI in healthcare to carry out the diagnosis and treatments themselves.
In fact, according to a journal in Nature, AI is better at detecting breast cancer from mammograms than doctors already.
The NHS currently uses two radiologists to analyze x-rays. If they disagree about what they see, they bring in a third to assess the situation.
However, the AI, which was only given the mammograms and no patient history, was able to detect cancer in the mammogram more than a single doctor, while it was just as good as the double-doctor system.
Great Britain believes that AI has great potential in the automotive industry. For example, it has identified that autonomous ride sharing fleets could soon be in the pipeline, along with driver assist in existing vehicles and being able to monitor and maintain the car’s health automatically.
This means that consumers would be able to access a ride “on-demand”, be that in the city or for travelling around the country. Considering that US citizens spend around 300 hours driving every year, there is a lot a UK citizen could do with that spare time.
Further, autonomous fleets means that they can get the exact type of car that they need for a specific purpose, rather than having to make do with the vehicle they already have, and
AI has been used in the industry for a while in the form of parking assist and more recently in lane centring techniques and AI-powered traffic lights. In order to progress with autonomous maintenance, development is still needed, paying attention to how it would work during harsh weather conditions.
3. Financial Services
Personalised financial planning, fraud detection, anti-money laundering and process automation (both for office use and customer facing operations). These are the areas that AI is showing great potential for Great Britain’s financial services.
Advice provided by humans takes a lot of time, meaning that the costs to obtain the information can easily stack up. On the other hand, AI like robo-advice can provide similar solutions for the mass markets to those traditionally only available to high net worth clients.
Their finances can be dynamically managed to suit their goals and optimize their funds for investing the best possible opportunities. This could mean that their asset managers are replaced by AI to ensure complete efficiency.
Robo-advice is available right now, along with automated insurance underwriting and compliance. In the case of insurance, it’s hoped the industry will move from anticipating what will happen to shaping the outcome for reduced accidents or better customer outcomes.
Further, according to Deloitte, AI can help with banks with deposits and lending:
“AI can improve banks’ profitability through the delivery of personalised advice at scale and the transformation of lending operations. It is allowing institutions to deliver advice at scale and at the moment of need, redefining the value proposition of the retail banking experience. AI can deliver smarter and more nimble workflows that improve the productivity and reach of lending operations. It is launching a commercial banking renaissance through improved data integration and analytics tools that unlock a vast underserved market.”
The final way that Great Britain is adopting intelligence is in its food industry. This can be shown best by looking at how online supermarket Ocado is using AI to improve its service.
First, they separate their applications into four categories
- Predictive analytics
- Real-time optimization
- Complexity management
Their specific applications include tailoring their service for each individual customer and adapting the user interface depending on if the customer is new or returning, and based on their personal shopping styles and needs.
Ocado uses a recommendation engine (the “Instant Order” system) that looks through a customer’s purchase history and predicts what they need, enabling them to complete the order with a single click.
The company is also using AI to forecast demand for all its stock for delivery and monitor and optimize the best delivery route for its drivers.
In terms of their warehouses, automation allows them to manage the influx of crates to avoid congestion, while new warehouses are able to improve the routes their robots access in the storage areas.
AI extends beyond just the supermarket too.
Current cleaning technology in the food industry cannot accurately measure how dirty the equipment is from the inside. Cleaning companies can spend a lot of time to prevent contamination. As a result, 30 percent of the food industry’s budget on energy and water is spent on cleaning alone.
However, a company based in Derbyshire is working on a system that uses ultrasonic sensing and optical fluorescence imaging in order to get an accurate measurement of how much dirt is inside the piece of equipment.
The Engineer reports that this could save food companies between 20 and 50 percent on cleaning time, keeping the cost of cleaning down and increasing the amount of equipment that can be used in production at a time.