How AI is starting to reshape existing industries

Artificial Intelligence, also known as AI, will change the world, says Mark Cuban. During the recent SXSW festival, he said that AI would create the world’s first trillionaire: “the world’s first trillionaires are going to come from somebody who masters AI and all its derivatives and applies it in ways we never thought of.” He is not the only one who believes that AI will reshape the way we live our lives. In a recent study, as many as 80% of responders believe that AI will revolutionize every industry. What most people do not realize is that the shift is already underway. Here are some industries that already use AI to some degree:

Gaming

In the last few years, there was a large shift from paid or subscription gaming to free-to-play online games. The publisher makes money from micro-transactions like upgrades, characters, and weapons. For some, like Riot Games, the revenue is in the hundreds of millions. These publishers use AI to customize and personalize the game and its responses to each user to reduce the amount churn and increase sales.

Mobile Carriers

American mobile phone carriers are using AI to determine if customers are showing signs of leaving the network for another. There are predictive systems that do not use AI. However, the problem is that the predictions do not come quickly enough for meaningful action. With AI, the carriers have enough time to offer the customer incentives to stay or address the issue by seeing the signs of customer churn earlier.