Artificial Intelligence is one of the pioneer technological discoveries, now controlling almost every business. The technology can scale up any form of business with its exceptional decision-making and problem-solving features. Even during the pandemic, when investors are in a quandary in investing, AI-based tech industries have secured maximum funding, globally.
The application of AI in start-ups intensified in the past few years. A report stated that 80% of the start-ups are working to incorporate Artificial Intelligence and Machine Learning in different models. The VC funding for start-ups in India doubled in 2020, while most of the funding was awarded to companies working on data science and deep learning technologies. ABI Research reports that the world’s biggest economies, i.e. the US and China, received $4.4 billion and $4.9 billion in funding for mature AI applications. PricewaterhouseCoopers’s report even forecasts GDP of China will move to $38 trillion by 2030, out of which $7 trillion will come from businesses adopting or upgrading to AI technologies.
10 major segments in the economy that will be attracting funding in AI technology are:
Energy sector
AI will replace the extremely complex energy resource distribution system and speed up the potential development of the sector. The latest technology can enhance energy efficiency and optimize the distribution channel.
Transportation/ logistic
AI is implemented in the logistic field to minimize human effort as well as tighten road safety, traffic management, logistic channel support, reliability, effective intra-city and intercity logistics. Investors are ready to fund further advancement in the relative departments, collaborating with Artificial Intelligence.
Automobile sector
Tesla’s Autopilot feature has opened up a new dimension in the AI technological enhancement, while the world’s leading automobile profiles like Toyota, Nissan, NIO, etc. are working on different other self-governing features to ensure error-free driving experience.
Healthcare sector
Healthcare is yet to receive a lot from artificial intelligence. This very sector attracts maximum investment in varied applications, like cancer diagnostic, reliable analysis or reports, effective record maintaining, and so on.
Education
The technology can improve the way of learning and student interaction. With the help of machine learning, the complete learning approach can be curved a few steps ahead.
Fin-tech
The financial and technology sector with this approach can diversify the portfolio and reach customers with real-time data. Also, early detection of fraudulent activities or cyber-scam/crimes, protecting the business insights, etc. can be uplifted with advanced AI support.
Security
AI is used to defend the cyber-securities in all forms as well as analyze and prevent possible threats in-network, phishing attacks, email scams, malware attacks, etc.
B2B sector
The B2B industry is likely to receive massive progression through the adoption of machine language and data science.
Manufacturing
The manufacturing industry is blessed with multiple scopes to apply AI in different fields of engineering. Production engineering and management aim to improve the productivity through the application of AI.
E-commerce
Last but not the least, the e-commerce platform, which is the most justified business approach in recent times, is believed to utilize AI for voice-enabled shopping assistance, image recognition, purchasing recommendations, and many more to name.
