Artificial Intelligence (AI) is no longer the far-fetched sci-fi concept that it used to be. With the advent of modern technology unfolding right before our very eyes and industries experiencing rapid advancement year after year, AI has sprung to life. Thanks to many applications and practical uses, this particular facet of 21st-century innovation is now becoming increasingly vital in everyday living.
From banking and finances to healthcare and transportation, the human race is seeing Artificial Intelligence take shape in many different forms that help make tasks so much easier. Businesses now have an increasing number of opportunities to leverage the power of AI to their advantage as more commercially oriented tools become available to them.
And the most prominent of these options? Two words: Computer vision.
How Computer Vision Works
As one of the most prominent fields under the AI umbrella, computer vision is one of the fastest-growing sectors today, and forward-thinking companies can stand to benefit the most. Computer vision functions on a system of pattern recognition where a computer is trained to understand visual data.
This process happens by feeding millions of labeled images that are then used to “teach” a computer system. Once all the images are uploaded, they go through various software techniques and algorithms that allow the computer to hunt down patterns in all the elements that relate to associated labels.
How Computer Vision Is Being Used Today
Today, computer vision is being applied in many different ways for industries like retail, insurance, and manufacturing. With the help of constant improvements, these set applications of AI technology are helping businesses deliver satisfaction and enhanced customer delight.
If you’re looking to leverage the power of computer vision but don’t exactly know how it will apply to your business’s needs and processes, here are some of its common applications:
Claim Processing
One of the primary industries that have benefited greatly from the advent of computer vision is the ever-expansive insurance industry.
In the past, claim processing was the biggest hurdle for companies because it was time-consuming and relied heavily on human intervention and labor. Fortunately, computer vision technology seeks to change this by using machine learning to fully understand and examine various deciding details while handling claims, saving time and money.
Facial Recognition Systems
Apart from insurance, another sector of the American business landscape that has been able to use computer vision technology is retail.
Often available in the form of specialized cameras, facial recognition systems have helped retail establishments stay on top of round-the-clockwork by handling integral and auxiliary tasks. Equipment with computer vision can help businesses tailor their brand loyalty cultivation efforts by identifying new and frequent customers, allowing them to:
- Attract frequent customers by providing suitable recommendations based on their purchase history
- Engage new customers by providing them discounts
- Provide tailored experiences based on past activity, incurred purchases, and frequency of visits
Self-Driving Cars
Of course, how could we wrap up this rundown without mentioning the most famous application of computer vision?
Manufacturers have been able to produce self-driving cars that make sense of their surroundings and traverse routes safely. These vehicles use cameras to capture real-time footage from different angles and feed data to computer vision software. From there, the onboard software can read traffic signs, detect other cars, and evaluate road conditions.
Conclusion
Among the different applications of Artificial Intelligence that have come front and center over the years, computer vision has made a tremendous impact on many industries. With all the possibilities that can be achieved, businesses can take their operations to new heights and capitalize on more opportunities!
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