Episode 3: AI in products - Use cases 💚

Welcome back to the AI Goodies Newsletter! 👋🏼
In this newsletter, I cover how companies across various industries use AI to enhance their processes and improve the experience for their end-users.

😱 Is AI just a hype?

Across the tech industry, many voices complain about the overpromises and noise that the AI hype keeps creating. If we dig deeper though, things seem to be true on both sides.

We can have a look at the data showing the growth of AI and how much companies already have been using AI in their current products and their desire to keep investing.

Studies show that by the end of 2024, AI’s market worth will grow to half a trillion USD. Also, the AI market is expected to soar from $86.9 billion (2022) to $407 billion by 2027 Source 

However, AI is yet to deliver the results it promised (well, as Gartner’s Hype Cycle shows us, expectations were very much inflated).

The survey below from Figma shows a set of very interesting stats and results:

Key Points from the Figma survey 👇

👉 89% of respondents say AI will have impact on their company’s products and services over the next 12 months.

👉 37% say the impact will be “significant or transformative.”

👉 72% of those who have added AI into products say it plays a minor or non-essential role.

👉 Fewer than one third of respondents say they’re proud of what they’ve shipped.

👉 Fewer than 50% of respondents working on AI products and features have actually shipped anything.

Which industries have been using AI so far? 🤔

One of the ways to look at the potential of AI is through an industry-lens. Let’s dive deeper into different use-cases that are generating value.

🌦️ Meteorology

AI is already being used to provide improved forecasting based on analysing large datasets and making predictions. Read more about it here

🚘 Automotive

Tesla is already using AI vastly in its Self-driving cars, as it helps sensors make better sense of surroundings by improving crash detection. Read more about how Tesla uses AI in their products.

🩺 Healthcare

My favourite uses of AI (and potentially with the biggest impact) are in robot-assisted surgeries, making drug discoveries more efficient & reducing the number of misdiagnosed patients.

📝 Education

AI can provide personalised learning environments for students based on their performance, education & level of understanding. In Japan, a company is already using AI to teach Japanese students English!

⚙️ Manufacturing

AI can optimise production processes & find the quickest way to manufacture. By using predictive maintenance algorithms, it can analyse equipment & detect machine failures automatically.

💛 Dating

Bumble has already been using AI in its matchmaking tool to provide more relevant matches for users. Bumble’s CEO mentioned in her recent talk, that AI will be integrated in more ways into Bumble:

• Educate users on how to date, how to talk, how to flirt & how to make the first move

• They will have a AI dating concierge: where users can come with personal issues and help train them to be a better version of themselves. Interesting direction! Listen to her full interview here.

🤩 AI in other industries

• Security: AI can help cybersecurity companies build better security systems

• Finance: it is used as an anti-fraud tool & companies use algorithmic trading practices using machine learning into financial processes

• Social media: AI can interpret and organise massive amounts of data, providing bigger ad revenue opportunities for companies, while protecting users against fake content & hate speeches. Funnily enough, AI is also used to detect AI-generated photos on social media - see Instagram’s latest AI tagging tool on posts.

⚡️ Products using AI

• Netflix: Movies recommended in your timeline have their thumbnails adapted to your movie history and your interest - read more about Netflix’s technology blog on Medium

• Spotify’s machine learning model of collaborative learning: will show you playlists that other users similar to you are listening to.

• Amazon uses AI to predict the products you might need before buying them. It also uses AI for its check-out free grocery store! Read more about it here

• Google has multiple applications of AI across their products, described in detail in this interesting article below 👇

• Arc is my favourite browser (a must-try) - it uses AI in a super intelligent, meaningful and discreet way that enhance its experience in an almost invisible way

• Apple just made waves with their new AI product vision, which explores different applications of these technologies (and a much-discussed partnership with OpenAI)

• Notion has AI-based features that facilitate content creation, grammar fixing, automating tasks & retrieving information quickly. Read more here

🎙️ Relevant conversations

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💜 Next on AI Goodies: Episode 4 - AI for UX Research

In the next newsletter I will cover the ways in which AI can support us in exploring the problem space we are designing for. We’ll look into AI tools, processes augmented by AI, as well as the cautions and limitations of using AI in research.

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AI & Design Love, Ioana ♥️