10 Best Artificial Intelligence Business Ideas in 2022
As the world becomes more connected and automated, business leaders everywhere are noticing one thing: artificial intelligence is not only here to stay, but it’s making an impact on the bottom line of businesses around the globe. In fact, if you don’t jump on the Artificial Intelligence business ideas bandwagon soon, it’s likely that your competition will be ahead of you and out-maneuvering you in sales and marketing efforts before you even realize what’s happening.
As Artificial Intelligence (AI) becomes more and more advanced, it will soon be possible to automate the management of entire businesses through the use of advanced technologies such as machine learning algorithms and natural language processing systems. While we’re not quite there yet, AI business ideas are already being implemented in creative ways, making them profitable ventures while AI continues to develop and improve at an exponential rate. Read on to learn about the best Artificial Intelligence business ideas in 2022!
List of Best Artificial Intelligence Business Ideas
1 – Drone Delivery
Drone Delivery is possibly one of the most interesting artificial intelligence business ideas. It’s like an Uber delivery service but with drones. As we know, it has taken some time for people to get used to Uber and other taxi services, but these are becoming more popular every day because people are fast realizing that they can be a lot quicker and cheaper than taking a taxi or getting someone to drive you places. The same will happen with drone delivery services, as soon as people realize how much quicker they are and start talking about them, they will become very popular.
2 – Fraud Prevention
Fraudsters are always looking for ways to scam more money. And AI will help them with that. Fraud detection programs are developed and designed by various organizations to make sure that these fraudulent activities won’t affect any major businesses. The use of artificial intelligence allows these programs to detect patterns and is significantly faster than human workers. Artificial intelligence can spot tiny trends or patterns which humans don’t have time to go through, making it possible for organizations dealing with financial data, valuable information, etc. That’s why fraud prevention has been listed as one of the ten best artificial intelligence business ideas in 2022.
3 – Employee Scheduling
Artificial intelligence has been used to power scheduling software for years, now. However, artificial intelligence business ideas are enabling businesses to implement employee schedules from beginning to end – including end-user experience and real-time adjustments with minimum human intervention. Even more effective than a tool for saving time and manpower, AI scheduling is about augmenting employees with tools that will improve their efficiency even further. A helpful tool with which managers can offer additional insight into staff availability will make any business better at its core; without changing anything but AI infrastructure as we know it. This will have a massive impact on work culture, empowering hourly employees and providing a significant boost to overall employee productivity.
4 – Smart Healthcare & Patient Monitoring
Healthcare is another area where artificial intelligence can make life easier. Using data from wearable devices and other sources, AI algorithms can analyze patient records, flag anomalies, and suggest treatments before patients even realize there’s a problem. This can help cut down on diagnostic errors, which are estimated to account for up to 98,000 deaths each year in America alone! With smart healthcare powered by artificial intelligence technologies, healthcare providers can deliver better care at a lower cost, and who doesn’t want that?
An industry ripe for disruption, patient monitoring is a natural fit for AI. Wearable technology is becoming more advanced and more affordable by the day; within five years, it’s entirely possible that consumers will be able to buy a device like Google Glass or even a smartwatch capable of tracking heart rate, respiration, and other vital signs. That would make it easier than ever to develop an AI system that can monitor patients who are at home or on their way there after being discharged from hospitals. Hospitals might even subsidize these devices as a way of ensuring their patients get fast, effective treatment, after all, you’re less likely to suffer complications when you’re monitored by medical professionals and your family.
5 – Inventory Management
A lot of businesses still use basic manual methods for counting and tracking inventory, often using paper or even chalk to keep track of their merchandise. More sophisticated operations use tools like bar codes and radio frequency identification (RFID) tags, but these are also prone to mistakes that can cost a company time and money. AI could help firms gain more insight into where they stand on inventory levels, as well as what they need to order or take action on next. While much of inventory management is already automated (for example retailers may have advanced alerts that tell them when there’s not enough of a particular item), artificial intelligence promises to further automate those processes while helping companies make smarter decisions about ordering and acquisition. That translates into more efficient operations that can save companies money.
6 – Customer Service
The AI revolution is already well underway in customer service, with chatbots already able to answer simple questions about products or services 24/7. In five years’ time, AI-powered chatbots will be able to handle even more complex queries from customers and provide rapid responses with minimal input from humans. For example, imagine that you are looking at a product online but want to know if it can be used for something else before you buy it. With an AI-powered chatbot on hand, all you would need to do is ask, it could scan your query against other similar questions asked by other customers and provide an instant response without having to contact anyone else within your company.
7 – Supply Chain Optimization
Here’s a challenge for you: how many manufacturing plants does your business have? If you said one, you’re not alone. However, in as few as five years, that may change drastically, at least if new AI technology has its way. When we look at artificial intelligence business ideas, supply chain optimization is a must on our list. Supply chain optimization helps manufacturers improve efficiencies by using big data to locate bottlenecks and errors. Companies can use insights gained from artificial intelligence to eliminate waste and excess materials through smarter planning and shipping methods, which is expected to increase profitability while reducing resource usage and environmental impacts over time.
8 – Productivity Enhancement
Artificial intelligence business ideas are booming right now, with applications as diverse as digital assistants (think Amazon Alexa), self-driving cars, and facial recognition software. Naturally, businesses of all sizes have a strong interest in exploring AI use cases. In fact, 54% of executives say they plan to invest more in machine learning over 2022 than in 2020. A staggering 70% of organizations with over 10,000 employees say that cognitive computing systems will allow them to reduce costs within three years. The numbers speak for themselves: using artificial intelligence makes good business sense.
9 – Personal Assistant Technology
Artificial intelligence will not just be created for businesses, but also to make people’s lives easier. By 2022, it will be possible to hire a personal assistant bot to run errands and schedule appointments for you. Personal assistant technology has already been used on sites like eBay, Facebook, and Amazon as well as smartphone apps such as Siri that help answer questions and perform tasks on your behalf. However, artificial intelligence is only expected to get better at carrying out complex requests by 2022. These points highlight that personal assistant technology is much needed for artificial intelligence business ideas.
10 – Education Technology
Educational technology is one of our favorite artificial intelligence business ideas. Despite some early reservations, companies are starting to incorporate AI and smart machines into their educational curricula, mainly due to their ability to personalize instruction. Computers have historically had problems analyzing writing and building off previous concepts, areas where human teachers shine, but recent advances have solved many of these problems. Artificial intelligence will change education forever; it will never replace teachers, but it’s a safe bet that they’ll need a refresher on how to manage students when new teaching methods arrive on campus.
In Conclusion, AI is growing every day, and it’s going to be worth trillions of dollars. We’re looking forward to an artificial intelligence future as there are many possibilities for the technologies. In fact, each one of us has already benefitted from artificial intelligence, whether we realize it or not. As AI gets more advanced, there will be an increasing need for experienced professionals that can work with these tools and make decisions based on their results. However, AI is a broad term and encompasses a number of different fields that are just starting to develop. For those looking to get into AI, what are you waiting for? Start working on your own AI project today! Visit Sjain Ventures.