Transformative AI Applications in Healthcare, Petroleum, Fraud Detection, Cybersecurity, and Conversational AI: Advancing Industries

Abstract

AI is the most disruptive technology of the decade as it changes industries for the better by upgrading processes, increasing efficiencies, and introducing creativity in many industries. The liberties, in this case, are seen in health care where artificial intelligences is changing the ways diagnosis’s are done, treatment methods, drug discovery and many more. Some of the potential applications of AI in the petroleum industry include; Efficiency in the production of energy, issues to do with safety and even with those of maintenance with emphasis on prevention of future mishaps that may be costly or fatal. AI has also found its use in anti-fraud where it is applied to identify new financial crimes and encode machine learning models to adapt to their new schemes. Categorized under cyber security, Artificial Intelligence is strengthening the cybersecurity by identifying new threats, making accurate forecasts, and responding to threats proactively to protect sensitive data. A well-known example of conversational AI is the Chatgpt is one of the key applications of the AI industry. Chatgpt is disintermediating customer service, sales and internal communication by providing a highly personalized many turn contextually aware conversation. Making communications with customers faster, and more efficient and thus is a win-win for customers as well as the organization. It also enhances the issue of accessibility since it facilitates communication between different user groups. At the same time, when AI became more successful and extensively integrated into multiple company processes, it created new specific ethical concerns, such as data privacy, bias, and insufficient transparency. It is crucial to solve these problems to get the highest advantage from AI and do not cause distrust and misunderstanding. This current role of AI is set to grow in the future, across sectors, to deliver even higher levels of effectiveness, creativity and convenience, unlocking the era of a smarter connected world.