Transformative Impact of Artificial Intelligence across Sectors: Applications in Healthcare, Cybersecurity, Fraud Detection, Oncology, and Drug Development

Abstract

Machine Learning (ML) is steadily entering many sectors with disruptive client value propositions to complex problems confronting sectors such as healthcare, cybersecurity, petroleum fraud detection, and drug discovery. In the healthcare industry, AI improves early diagnosis, individualized treatments and drug development to transform the way cancers, other diseases are diagnosed and treated, Precision medicine and immunotherapy. AI’s use in enhancing patient care has been well captured in oncology whereby patients’ genetic and images data are fed to machine learning algorithm to diagnose the cancer at early stages hence advancing on the typical treatments. In cybersecurity, uses of AI enhance identification of threats, responses to threats, and identification of likely threats; in essence, fortifying digital environments against threats. Further, AI is being helpful in the identification of petroleum fraud; it helps in processing, identifying and analyzing data, identifying frauds and automating the process, which enhances operational effectiveness of fraud detection. In drug development, AI shortens the time it takes to screen and find candidate drugs, optimize the molecule, and increase the efficiency of clinic trials all of which reduce the time and money that is required of develop drugs. Nevertheless, the integration of AI provides promising applications for improving business intelligence decision-making at the same time raises some issues concerning general data privacy, algorithm bias, algorithm transparency, and ethical issues. These issues need to be tackled in order to build a safe and efficient usage of artificial intelligence technologies. AI is set to grow and with it, so will its potential to transform industries across the spectrum of the economy, as well as enhance the efficacy and performance of solutions in healthcare, cyber-security, and a countless number of other domains.