AI as a driving force for addressing common challenges

The transformative potential of AI

Project CORaiL is an artificial intelligence (AI)-powered solution deployed to the reef surrounding Pangatalan Island in the Philippines to assist researchers with monitoring and restoring the coral reef, which provides many benefits to local communities and beyond. Smart Cities use AI to optimize traffic flow to reduce congestion and emissions. Facing several challenges including rising cost of goods and supply chain volatility, a North American convenience retailer uses AI to develop a pricing strategy that led to better sales and profits as well as customer perception. In many ways, AI has captured much of our attention in recent years with its potential to help organizations become more innovative, efficient, and sustainable. At the societal level, AI is now deemed essential for solving the climate crisis.

According to a recent McKinsey survey, the use of AI is now widespread among such industries as energy, healthcare, and consumer goods. Many organizations are currently experimenting with generative AI tools — considered the “next frontier” — to identify trends in customer needs and develop personalized marketing. Companies such as Mars, Colgate-Palmolive, Nestle, and Coca-Cola are hoping to gain a competitive advantage by using generative AI to accelerate product innovations and…