Reimagining Businesses with AI

CHAPTER 1Introduction

“Artificial intelligence will reach human levels by around 2029. Follow that out further to, say, 2045, we will have multiplied the intelligence, the human biological machine intelligence of our civilization a billion-fold.”

—Ray Kurzweil

Evolution is the story of tension and mutation. A difference between aspirations and available resources creates tension while changing needs and advancing technology drive mutations. Successful mutations thrive until eventually they, too, are replaced by more successful variants. By its very definition and design, evolution is a slow process. However, every once in a while, evolution is known to change pace, resulting in rapid strides that suddenly leave the standard way of life redundant and usher in a new era.

We live in an increasingly digital world – one in which we are inundated by IoT devices, connectivity, data, applications, and new experiences every moment. Our economy and our way of life are rapidly transforming into a digital one for most parts. This change is requiring businesses to rapidly reinvent themselves in this new world order, not only to thrive but sometimes just to survive.

In very recent times, Artificial Intelligence (AI) has taken center stage in the digital space. AI has existed as a discipline for more than 60 years now; its recent rejuvenation is driven by the advances in digital capabilities around IoT, big data management, cloud computing, and communication technologies. As per a recent ...