During a period where technological developments have picked up speed, one innovation in particular wields a profound, broad-reaching impact on our lives.
That innovation is Artificial Intelligence (AI). Developments in computing power, the availability of data, and the rise of machine learning algorithms are driving AI’s incredible growth to transform how we work, live, and deal with the world around us.
AI and its future
Experts have anticipated that AI will boost the global economy by $15.7 trillion by 2030. That’s more than the value of China and India’s economies combined. AI will drive this growth by contributing to labour productivity increases (up to 40%) due to new technologies supporting more efficient workplaces and creating a new virtual workforce capable of solving problems and self-learning. These changes have profound implications for labour markets, businesses, and economies.
Driving innovation
For anyone who has received personalised product recommendations, which are based on browsing and purchase history, retail and e-commerce are the most obvious sectors benefitting from AI. However, there are many other sectors that are utilising AI in unique ways.
AI is already assisting the manufacturing sector by optimising production and maintenance. AI can spot patterns, suggest maintenance weeks or months before a failure occurs, and provide production efficiency.
The healthcare industry is also starting to use AI to improve medical diagnosis by revealing issues that might go undetected by physicians and providing more personalised treatment based on patient data.
How you can use AI to make your life easier
While AI is being used in many ways by a wide range of industries, there are many ways to utilise AI in your personal and professional life that are worth exploring.
Here we list three simple ways that you can implement AI to transform your everyday life:
1. Improve productivity
If you need more hours in the day, AI task schedulers can help you organise and prioritise tasks, suggesting the best times to do specific tasks based on past productivity patterns. There are AI tools like Wordtune, which can also help if you’ve got reading to catch up on by summarising lengthy documents or articles. Tools like Speechify can also transform text into audio, allowing you to ‘read’ on the go. Or, to get your emails under control, AI can help you sort messages, remove irrelevant ones, and prioritise important ones – even helping you with draft responses.
2. Elevate your efforts
If there is something you need to do or you need some inspiration for a project – There are AI brainstorming tools like HyperWrite that can provide fresh insights, suggest innovative solutions, and stimulate your creativity. Writing tools like Wordtune can give the final polish to something you have drafted, or you can use AI tools to provide copy on a specific topic.
3. For a smoother, safer household
AI assistants such as Google Assistant, Siri and Alexa have been helping us for some time now and can now assist even more by acting as the hub of a smart home. If you start to replace old appliances with new ‘smart’ devices, you can control them using voice commands.
The most popular device on the market is smart speakers to control what music is playing and volume levels, but more smart devices are constantly coming onto the market. Smart robot vacuum cleaners use algorithms to map your house and can be pre-programmed so you can come home to a clean house. Even fridges are getting smarter, helping you with shopping lists and even placing online orders.
For a safe, smart home, security systems can leverage AI to detect unusual activity, send alerts to your phone and even contact authorities if needed.
Smart devices can also save money on power bills – adjusting lighting and temperature based on your daily routines and preferences.
Next steps
There are many ways you can benefit from the current AI wave of innovation as it impacts so many industry sectors and areas of our working and personal lives.
Speak with your local Nexia Adviser today to see how you can use AI to help enhance not only your work life but also your personal life.