Explore The Use Cases Of AI and ML Consulting Across Top Industries

In the increase of technological advancement era, businesses are also finding ways to drive intelligent technology-driven solutions. AI has been around as an academic and scientific discipline since the 1950s; however, AI and ML are taking center stage since these disruptive technologies play a critical role in the design and development of smart solutions.

Product recommendation, autonomous vehicles, smart assistance, conversational chatbots, and facial recognition are some real-world examples of solutions by AI and ML. According to a report by Grand View Research, the AI market size was valued at USD 136.55 billion in 2022 and is projected to increase at the rate of CAGR 37.3% from 2023 to 2030.

10 Use Cases of AI and ML Consulting Across Industries

Use Case 1: AI and ML Consulting in the Healthcare Industry

Microsoft, Google, IBM, and Apple are the technology giants that hold significant importance in healthcare industries. It is highly used in a wide range of healthcare services that simplify the lives of patients, physicians, and hospital administration staff by doing things way faster than their human counterparts and at reduced costs. It is used in data mining for identifying patterns and carrying out highly accurate diagnoses and treatment of medical conditions. Along with this, it is also used in medication and medical imaging like MRI, and CT Scans. It is used in medication management timely, robotic surgery, and drug discovery.

Let’s say, for instance, that analyzing medical images is often prone to human errors as it requires great attention to detail. With the help of AI and ML algorithms, healthcare staff can analyze a huge amount of data, such as CT scans, MRIs, and many more, with more accurate results. An AI tool (IBM Watson) can derive the context and meaning of unstructured and structured data that might be critical to selecting a treatment plan and then analyze all records to identify treatment. Or we can say it works as a human doctor.

These solutions can be difficult to understand; thus, you can get help from AI and ML consultants who can guide you in implementing modern healthcare solutions that proactively monitor patients’ health and provide alerts in real-time when there is a change in any data. It is one of the important parts that indicates the healthcare industry is going to benefit from AI; as per recent studies, the market size was valued at USD 15.4 Bn in 2022 and is expected to grow at a CAGR of 37.5% from 2023 to 2030.

Use Case 2: AI and ML Consulting in Financial Services

The financial services industries are going through a lot of transformation due to the rise of AI applications. In this industry, the use cases are also in vast numbers. Many times, human robots are replaced by intelligent robot software that can help in processing loan applications in a fraction of a second. These AI and ML algorithms can also help customers to make the right decision for investments.

These can also analyze the user’s social media activities, personal data, and emails to identify the sectors and companies aligned with your needs and long-term goals. The insurance sectors are also covered by AI-based chatbots that improve the customer experience and create customer-based data and insurance plans. AI and ML software also reduced the claim processing time, helping insurance companies and customers.

How can we forget one of the most important applications of AI and ML in the finance sector is fraud detection? With its help, MasterCard can detect fraudulent transactions by analyzing various data points. You can also know more about these services by hiring a top AI and ML consultant from a leading consultant company that can assist you in several points to enhance FinTech services. The global fintech market size was valued at USD 9.45 bn in 2021 and is expected to grow at the rate of 16.5% from 2022 to 2030.

Use Case 3: AI and ML Consulting in Manufacturing and Supply Chain

It’s beyond doubt that the manufacturing and supply chain industry has benefited from AI and ML-powered solutions. With the help of these technologies, manufacturing is able to employ AI and ML in several lines and layers of operations, whether it is from workforce planning or product design helps in improving efficiency, employee safety, and product quality. The use of ML in supply chain management makes a seamless process. In the warehouses, AI techniques are present for sorting and packing the products.

One of the big things in transportation is self-driving vehicles, which is a huge thing in the upcoming years. However, these are still in the research phase in many countries, and some are ruling the market, such as Tesla, Uber, Volvo, and many more. In factories, ML and AI neural networks are used for the support of predictive maintenance of critical industry equipment, which can accurately predict asset malfunction. It helps the management take timely measures to restore the equipment and prevent costly unplanned downtime.

Robots are becoming an integral part of the production processes in the growing era many industries are using cobots that can take instructions from humans and can perform tasks. These instructions also require a proper understanding, however, you can take the help of a top AI and ML consultant. This help in the work completion in half the time of the work done by all human. AI algorithms are used in quality control to alert production facilities to potential production errors that can compromise the quality of the final product. Process variations, subtle machine behavior anomalies, changes in raw materials, and other errors are examples of faults.

Use Case 4: AI and ML Consulting in Retail and E-commerce

Retail and ecommerce are one of the growing markets, and integrating AI and ML technologies in the system helps in multiple applications, such as analyzing user behavior and patterns in the market. This is one of the things that can help the companies to have a business strategy aligned with consumer needs to outsmart competitors.

By inculcating these in the industry effectively meet and exceed their customers’ evolving needs and expectations. The new retail market recommends certain products to the customers as per their choice. It is all possible just because the AI algorithm determines the user’s preference, which they are likely to buy based on past history.

The development of AI applications are increasingly being used to enhance the customer experience. Don’t worry if you do not know how to integrate it within your industry there are multiple AI and ML consultants present in the market that can help you with the better usage of AI in your system.

Use Case 5: AI and ML Consulting in Energy and Utilities

AI has been around for decades, however, over the past 2-3 years, the technology has been very helpful for multiple industries and finding different applications, including energy and utilities. But how to make a better use of it in the energy and utility is a bit arduous process. Thus, requires experts in the field for smooth integration plus for understanding the benefits of AI in the field.

There are multiple benefits present in using AI in energy and utilities. The AI and ML consultants can help in identifying the patterns, search, and interference plan with the help of tools that can be hard to operate by anyone else. The AI can able to balance grids, manage demands, negotiate actions, enable self-healing, and facilitate a host of new products.

Use Case 6: AI and ML Consulting in Fashion

The fashion industry is not behind in this growing technological advancement with the help of AI. It affects many aspects of the value chain; one key area is forecasting and trend analysis. For your business, you can also take the help of AI and ML consultants, which can help identify emerging trends and consumer preferences, finding the appropriate fashion influencers by analyzing a vast amount of data on different social media platforms, fashion blogs, and other relevant platforms.

They have the perfect knowledge of AI-powered tools that can analyze the purchase history of the users, style preferences, browsing behavior, and product recommendations. There are multiple AI tools present in the market that can help your business gain a targeted audience. The AI and ML consultant thus can help in identifying and making the record of those that can help the client in their growth.

These tools can help analyze images, patterns, colors, and designs, enabling product categorization, tagging, and cataloging. This streamlines inventory management. AI in the fashion is projected to reach size of USD 228 million in 2019 to USD 1260 million by 2024.

Use Case 7: AI and ML Consulting in Marketing and Advertising

In the growing market, it often becomes a challenge for multiple organizations to achieve the target audience with pre-existing competitors in the market. With the help of AI and ML in marketing, they can transform how they nurture, convert, and attract prospects. Taking an example, we can say if you are using AI and ML algorithms can help businesses better understand customers’ preferences their behavioral patterns and identify the right time to engage with them.

Apart from this, the AI and ML consultant can also understand the behavior of customers, which can help businesses personalize their marketing collaterals based on data such as their previous buying history, locations, demographics, etc. This assists clients in providing highly relevant offers to prospective customers and converting the leads into sales. As per the report, the market size of AI in marketing is estimated to grow from USD27.37 bn in 2023 to USD 107.5 bn by 2028.

Use Case 8: AI and ML Consulting in Agriculture and Farming

The growth of population is increasing day by day and is projected to reach 10 billion in 2050. Which will directly put a huge pressure on the agricultural sector to increase crop production and maximize yields. To overcome this issue, AI is one of the best methods. But as a little people are aware of this fact in the agricultural and farming industries.

The AI and ML consultants present out there are best choices at this point and help the clients for this industries to get all the benefits such as automated irrigation systems, detecting leaks and damage to the system. Along with this they can also assist you by enabling crop and soil monitoring devices. Detection of diseases and health all this can be done with the help of AI and ML.

The AI and ML market size in the agricultural and farming sector is increasing day by day and is expected to reach USD 5.27 billion by 2032.

Use Case 9: AI and ML Consulting in Education

AI is transforming the education sector in various ways, from automating tasks to personalizing learning. However, implementing and managing AI solutions need specialized skills and knowledge This is where AI and ML consultants come into the role of helping educators and businesses in this field.

They focus on providing a personalized solution that provides expert advice and guidance on how AI solves problems, improves processes, and creates value. All the AI and ML consultants surely have a good background in data science, computer science, and machine learning. They can help clients with various aspects of projects, such as design, development, deployment, and maintenance.

The AI industry is at its peak and playing multiple roles in various sectors. However, AI in education is expected to grow from USD 1.82 Bn in 2021 with a CAGR of 36.0% during the forecast period from 2022 to 2030.

Use Case 10: AI and ML Consulting in Sports

There has been a lot of advancement going on in the sports industries in recent times. AI and ML is also moving to this industry and making it smarter for the athletes and viewers who can get real-time statistics. Over the decades, AI has completely transformed how to engage and analyze sports.

The best use of AI and ML technologies in the industries is they can enhance the scouting and recruitment process, analyze the performance and training of the individual, maintain the health and fitness of the atheletes, and also have multiple AI referee options present today that can help enhance the experience of the whole sport.

AI in sports is popular; thus it is only accomplished by some who need specialists with the proper information. Thus, AI and ML experts in this field can be the best option. The market size of AI in sports is expected to garner $19.2 billion by 2030.

Why Choose Emizentech for AI and ML Consulting For Your Industry?

As a top AI and ML consulting company, we at Emizentech can provide assistance in verse of industries that allow businesses to think less before making decisions if they can approach or not. We have a dedicated team of AI and ML consultants who assist clients in transforming their businesses according to the latest technology and trends. They can also guide enterprises in making the technological decisions that impact the company’s growth.

Thus, if you are also confused about how to cope with the technological growing market and want to implement AI and ML solutions, you can contact us now and hire your own AI and ML consultant for your business.

Conclusion

Businesses across every industry are realizing the potential of AI and ML algorithms. From banking to logistics, manufacturing to supply chain, and many more. If you are also looking to adopt these disruptive technologies to make your business future-ready, it’s high time you consider looking for a top AI and ML consultant from a leading company. By seeking consultants from professionals, you can get a better understanding of customer preferences as well as be able to figure out many things that are challenging and can be solved with the help of AI and ML in your industry.

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