3 Industries Already Being Disrupted by AI

  • 9 March 2017
  • Disruptor Daily

Started by companies such as Uber, disruption is constant in today’s landscape.  As technology begins to outpace human production, it’s only natural that slow-moving industries will become breeding grounds for disruptive technology such as AI (Artificial Intelligence).

While we all know how the taxi and hotel industries have been upended by rideshare services and vacation rental apps, here are a few more industries artificial intelligence has greatly impacted:

Journalism

It started innocently enough, as bots used sports box scores to spit out mini-articles on websites such as MaxPreps. But could AI win a Pulitzer Prize one day?

Narrative Science has a program called Quill, and it’s changing the way content is created. Companies are already using Quill to write up financial earnings reports and box scores.

Narrative Science believes that as much as 90 percent of news could be machine-generated by 2020. With print journalism newsrooms on the decline, companies becoming newsrooms are using AI technology to get the word out. Quill can identify key and interesting facts and generate a data-driven narrative story that can be easily distributed at scale.

Even legacy media outlets such as Forbes and the Associated Press have used this technology to create content. Many media companies are using AI as somewhat of a newsroom gatekeeper — scanning reader sentiment and determining which types of content would gain the most traction.

Someday, that interesting listicle on BuzzFeed that happened to find its way to your Facebook News Feed may be completely computer generated and optimized for readers like you.

Law

Another unlikely industry where machine learning is on the rise is law. While companies such as Legal Robot are changing the way people access and submit legal documents, developers are creating full-on machine-learning attorneys.

Earlier this year, a major law firm (BakerHostetler) “hired” ROSS — a robot powered by IBM’s Watson technology. ROSS helps with bankruptcy cases, sifting through a monumental stream of data to extract pertinent information, serving as a legal researcher.

Attorneys and lawyers constantly see an increasing caseload, putting a tremendous amount of pressure on legal researchers, often young lawyers fresh out of school. But ROSS doesn’t need sleep or caffeine.

Until recently, the legal field has been extraordinarily tech-averse. That is definitely changing. A study by Deloitte suggests that as many as 114,000 jobs in the U.K. legal sector could be automated in the future.

Major law firms are investing in AI technology to take care of the menial tasks usually performed by junior lawyers, allowing their top talent to focus on winning cases. Pinsent Masons have developed TermFrame technology, which can emulate the decision-making processes of a human.

Just how efficient are AI bots in the legal sector? Linklaters’ Verifi system can go through 14 U.K. and European regulatory registers, processing thousands of names overnight. A young lawyer takes an average of 12 minutes to research each name. Other programs can cut the time to draft a document — from 3 hours by a human to 3 minutes by a bot.

While we’re not at the point where you’ll be represented in court by a robot, odds are AI technology could play a major part in your case.

Marketing

Through AI technology, companies have taken marketing to new heights. Without AI, Facebook ads would still be clumsy, irrelevant and unprofitable. Google, Facebook and Amazon are all AI-friendly spaces for marketers, allowing technology to do the dirty work — and machine learning is only making the practice more precise.

If you’ve ever seen “you might also like…” recommendations on sites such as Facebook, those suggestions are made via AI technology. This places the best content (and products) in front of those most willing to click or buy.

Hubspot co-founders Brian Halligan and Dharmesh Shah are huge believers in the impact that AI has had on marketing, believing that the future is even more dependent on bots. Soon, AI technology will help people all through the sales funnel. It’s already starting, as several companies have built chatbots to respond to simple customer queries.

Bots have also helped businesses generate valuable leads, ranking them in terms of potential for sales. What Shah called a “Match.com for leads” is already in place at several companies, as companies use AI to route leads to the proper salesperson.

Salesforce, another marketing and sales giant, uses AI technology to perform the same tasks as a data scientist. Salesforce’s Einstein platform can anticipate customer needs, resolve cases and create predictive journeys for customers.

Much like in other industries, AI technology is doing the dirty work, allowing companies to focus on closing sales and growth. While the disruption has already started, it will only grow from here. A Demandforce survey shows that 80 percent of marketing executives polled believe AI will revolutionize the industry by 2020.

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