Business Applications of AI and Generative AI - A brief introduction

AI seems to have taken over everything recently. AI, or Artificial Intelligence, refers to the ability of computer systems to perform tasks that typically require human intelligence, such as learning, problem-solving, and decision-making. This paper will offer a brief history of AI, its growth and its use in businesses. The key aspects of AI, the popular AI tools in use today, AI adoption around the world and will be discussed. How companies are planning to invest in AI and the barriers to AI adoption will also be discussed. Examples of how Generative AI is being used in various areas of businesses like banking, customer service and law will be enumerated.