The COVID-19 pandemic has been unprecedented and scary, to say the least. The outbreak held global economies hostage as businesses across the world came to a screeching halt. On the bright side, it has given the tech industry a much-needed thrust. For organizations that were spiraling endlessly, technology has emerged as a breath of fresh air.
Companies that were crawling towards digital transformation are now accelerating towards this goal. The COVID-19 era will be marked by a peak in technology adoption. But what does it have in store for the world of Artificial Intelligence (AI)?
Let’s take a look:
The State of AI during COVID-19
According to Technavio’s COVID-19 Impact and Recovery Analysis for AI, the industry will register a YoY growth of 42.68% for the current year. Furthermore, it is estimated to register a CAGR of more than 48% for the forecast period up to 2024. This trend can be attributed to the increase in the adoption of cloud-based solutions.
AI is helping organizations scale and adjust to the disruptions caused by COVID-19. As a result, businesses can sustain continuity while honoring public health measures such as quarantining and social distancing.
Use Cases of AI in Various Industries
Various bodies, from small businesses to large enterprises and public to private, are using AI to cater to the needs of their clients. Amongst these, the healthcare industry has been one of the biggest beneficiaries of AI.
Here’s an overview of how businesses are using AI to their advantage:
Research & Development
Healthcare experts and researchers were flooded with data as the COVID-19 cases started to rise exponentially. At the same time, they were also scrambling in the dark and dealing with misinformation to derive reliable insights. Fortunately, AI-powered search platforms and databases made it easier for them to access usable knowledge readily.
One of the major advantages of AI came in the form of its ability to detect patterns while understanding how COVID-19 spreads. Using the GPS data from devices like smartphones, AI systems collected data to contain and manage the spread of the Coronavirus.
At the same time, AI models could make predictions regarding which patients were more likely to get sickest from the disease. Using this information, healthcare facilities could allocate resources according to the infected patient’s condition.
With global lockdowns and self-isolation in place, accessing medical care became tougher for the general public. From addressing routine queries to carrying out preliminary diagnosis, AI-powered chatbots have played an instrumental role in ensuring health and safety when healthcare professionals were already stretched beyond their means.
They were highly effective in answering frequently asked questions, sharing information from credible resources, giving updates on the disease, and more. The autonomous and intuitive chatbots could carry out assessments for patients with COVID-19 symptoms without them having to make a trip to the nearest hospital.
Essential businesses that were operating under reduced staff could assist their customers through AI and automation. Once again, chatbots offered its scalability to enable businesses to imbibe resilience, remain operational, and serve their clients. From placing orders to processing refunds, chatbots tackled the redundancy while escalating only critical matters to human agents.
Supply Chain Management
Food safety has been a major source of concern since the COVID-19 outbreak. Fortunately, AI stepped in to carry out a bulk of the tasks such as connecting suppliers with procurers, supply chain planning, warehouse management, shipping and logistics, and demand-supply forecasting.
Switching to remote learning has not been easy for students and teachers alike. However, AI helped education transcend beyond the confines of the classroom as the entire learning methodology evolved. Educators can now use AI for tracking the student performance, promoting self-paced and personalized learning, performing efficient organizational and administrative tasks, etc.
The Way Ahead
As one can see, Artificial Intelligence has transformed traditional processes and upgraded them to be future-proof and future-ready. Naturally, the logical takeaway from this remains that the COVID-19 situation has granted the AI industry a well-deserved push.