As a concept AI is with us since decades, but has taken a big leap in the last decade with the surge in computation power, new algorithms and ML models, and the availability of vast amounts of digital data to train AI models.

AI is a good predictor, for instance whether we will lose a particular customer, or whether the engine is likely to fall. AI is a good classifier, for instance, whether something is spam, AI is good in clustering, for instance grouping customers or students so as to serve them better. Of late, we have been using generative AI with the capability to generate content, thus making it useful for so many new applications.