If you Googled the word “artificial intelligence” just now and landed on this blog, used an Uber ride to reach work, or went to an ATM to draw cash, you’ve made use of Artificial Intelligence.
In our day-to-day lives, there are numerous examples of artificial intelligence (AI). While some conspiracy theorists label AI as “robots taking over our planet”, it is impossible to ignore the fact that artificial intelligence has streamlined most business operations today that make up a big part of our lives.
In this article, we will be taking a look at four common examples of artificial intelligence i.e, Identity Verification, that you most definitely came across more than once in your life.
How Is Artificial Intelligence Used In Our Everyday Lives?
1. Search Engines and Ride-Hailing
One does not have to struggle with traveling to destinations anymore. Instead of being dependent on leaflet maps or on complicated address books, we can simply use a map application on our phone and type in the name of the destination.
But does an application know where the destination is located, how many roads lead there, and what the status of traffic is? Not long ago, satellite-based navigation (GPS) was used for commuting. In today’s world, artificial intelligence has taken over.
Through machine learning (ML), the application’s algorithm has the ability to remember distinct details, such as a building’s number, street name, even hand-written house numbers once the information has been fed into the system by service providers such as Google.
The artificial intelligence-based apps also allow users to calculate the exact time and distance between their current location and their destination as it has algorithms integrated that calculate this information based on current traffic conditions. Additionally, we can now also view images of the location prior to reaching it.
This way, various ride-hailing applications such as Uber, have come into existence. So, next time you use an app for commuting, you’ll know how it works.
2. Identity Verification and Face Detection
Snapchat or Instagram filters, and face detection for unlocking smartphones are two applications of artificial intelligence that now constitute our daily lives. Let’s take an example of a bank to better understand how identity verification and face detection systems are typically used by businesses.
Suppose you open a bank’s website to remotely open a new account or submit a loan application. As a part of the bank’s mandatory regulatory obligation, a process known as Know Your Customer (KYC) is carried out. This process is particularly crucial for financial institutions as they face countless threats daily, ranging from credit card fraud, data breaches, or even money laundering.
But how does it work?
To meet international KYC and AML (Anti-money Laundering) compliance standards, the identity of customers can be verified online in the following steps that are common to all banks:
1. Customers are asked to take or upload an image of themselves holding an official ID document such as a passport or a government-issued ID card
2. Next, the information from the ID document is automatically extracted and verification starts
3. If the customer’s picture matches against the picture of them on the ID card, verification is complete and the customer is onboarded
This process is completed within mere seconds with the help of identity verification solutions that are powered by artificial intelligence models.
Apart from verifying customer identities to meet global standards, face recognition is also used for the purpose of surveillance at airports, to catch criminals in subway stations, track down drivers that break traffic rules, monitor school attendances, employee time, or attendance management, and much more.
When you’re typing something on a Word document or Google Docs, you must have encountered alphabets and words being automatically corrected. This is done by autocorrecting tools that are based on artificial intelligence models. With the help of AI, these tools enhance text readability by enabling spell check, grammatical mistake corrections, and plagiarism detection.
The same way humans learn languages over time and become fluent in them, artificial intelligence algorithms also use NLP (Natural Language Processing) and Deep Learning (DL) to identify incorrect symbols, words, or letters while suggesting alternative corrections.
As a business, answering each customer query in a timely manner can be quite time-consuming. Again, artificial intelligence steps in to streamline the process by making it fully automated. An artificially intelligent solution is used by most businesses today to cater to customer queries through automated chatbots. Examples of chatbots you must have come across include chatbots on online shops, chatbots on pizza delivery sites such as Dominos, or – the latest- Amazon Alexa.
Chatbots have been taught to represent a conversational style through natural language processing (NLP). In fact, advanced chatbots are one step ahead of conventional chatbots as they can answer complex questions instead of just questions that require Yes or No answers.
Artificial intelligence-backed technologies go beyond human capabilities, allowing individuals and businesses to streamline daily tasks. By introducing concepts such as Big Data, Internet of Things, and Robotics, it will continue to act as the key driver behind numerous other technological innovations in the foreseeable future.
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