Artificial intelligence (AI) is the application of advanced statistical analysis which includes machine learning. AI is used to interpret results from a series of events, predict outcomes, take actions, and automate decision-making processes. Artificial intelligence is used to simulate cognition processes with computer systems. Artificial intelligence requires a multi-discipline approach to problem solving. The goals of AI are to process and analyze large amounts of data quickly to arrive at solutions. Most associated with science fiction, artificial intelligence is actively used for commercial purposes.
The field of artificial intelligence got its name from famed Stanford University computer science professor John McCarthy. His body of work includes significant advances in systems that mimic human level intelligence. His work differs from others in that he emphasized the use of mathematical logic to represent the knowledge intelligent machines should and use for reasoning.
In business, artificial intelligence can be used for a range of tasks from process automation to sophisticated fraud detection. Machine learning is used to analyze data and learn from it, without human intervention. As new data is acquired, algorithms learn and adapt.
Examples of varied artificial intelligence use across industries: