The first and most important question is: 

What is Artificial Intelligence?

Artificial Intelligence (AI) can be defined as a machine that can solve problems that are usually solved by humans using intelligence or rather natural intelligence. Here are seven original aspects of AI according to John McCarthy (1955):

1. Simulating higher functions of the human brain.
2. Programming a computer to use the general language.
3. Arranging Complex concepts/objects in a manner so that they can form simple and specific concepts.
4. A way to determine and measure problem complexity
5. Self-improvement
6. Abstraction: Defined as the quality of dealing with ideas rather than events.
7. Randomness and creativity (Currently being explored).

Forms of AI

Artificial Intelligence can be used in many forms in our day-to-day tasks or activities. The use of AI spans many industries, such as  Businesses, Manufacturing, Engineering, Data Analytics, Data Processing, and more. Here are some common forms of AI.

Machine learning:
The machine learns to identify objects through experience (training).

Computer vision:
Enables the machines to see. Machine vision captures and analyses visual information using a camera.

Natural Language Processing (NLP):
The automatic manipulation of natural languages, like speech & text using software.

Robotics:
Focuses on the design and manufacturing of robots.

Pattern recognition:
Is the automated recognition of patterns and regularities in data. Pattern recognition is closely related to machine learning, together with applications such as data mining and knowledge discovery in databases.

Knowledge management:
Encompasses psychology, epistemology, and cognitive science. AI allows machines to acquire, process, and use knowledge to perform tasks and to unlock knowledge that can be delivered to humans to improve the decision-making process.

1. Augmented Reality: Augmented reality is the technology that expands our physical world, adding layers of digital information onto it. Unlike Virtual Reality (VR), AR does not create the whole artificial environment to replace reality with a virtual one. AR appears in direct view of an existing environment and adds sounds, videos, graphics to it.
2.  Virtual Agents: A Virtual Agent (sometimes called an intelligent virtual agent (IVA), virtual rep, or chatbot) is a software program that uses scripted rules and, increasingly, artificial intelligence applications to provide automated service or guidance to humans. Virtual Agents can give relevant advice and sustain an informative conversation with consumers.
3. Industrial Internet of Things (IIoT): The industrial internet of things (IoT) refers to the extension and use of the internet of things (IoT) in industrial sectors and applications. With a strong focus on machine-to-machine (M2M) communication, big data, and machine learning, IoT enables industries and enterprises to have better efficiency and reliability in their operations. The IoT encompasses industrial applications, including robotics, medical devices, and software-defined production processes.
4. Digital Twin: Digital twins are virtual replicas of physical devices that data scientists and IT pros can use to run simulations before actual devices are built and deployed. Digital twin technology has moved beyond mainly optimizing for manufacturing, into the merging worlds of the Internet of Things, artificial intelligence, and data analytics.
5. Marketing Automation: Marketing Automation is a technology that manages marketing processes and multifunctional campaigns, across multiple channels automatically. Marketing and sales departments use Marketing Automation to automate online marketing campaigns and sales activities to both increase revenue and maximize efficiency.
6. Decision Management: Decision Management in AI allows a machine to introduce logic to AI systems in order to gear them up to be used for training, maintenance, and tuning. Some businesses use Decision Management to add value and profit to the company by incorporating it into their applications to propel and execute automated decisions.

7. Cyber Defense: Cyber Defense is a computer network defense mechanism that includes a response to actions and critical infrastructure protection and information assurance for organizations, government entities, and other possible networks. It focuses on preventing, detecting, and providing timely responses to cyberattacks or threats. With the growth in volume as well as the complexity of cyber attacks, cyber defense is essential for entities to protect sensitive information as well as to safeguard assets.

8.  Biometrics: Biometrics is the measurement and statistical analysis of people’s unique physical and behavioral characteristics. The technology is mainly used for identification and access control, or for identifying individuals who are under surveillance. It forces organic interactions between machines and humans as it works through touch and body language.
9. Text Analytics & NLP: The Natural Language Processing (NLP) focuses on the interactions between human languages and computers. It uses text analytics to analyze the structure of sentences as well as the interpretation and intentions through machine learning. This is widely used in security systems and object detection.
10. Robotic Process Automation: Robotic Process Automation (RPA) refers to the functioning of corporate processes due to the mimicking of human tasks and automating them.

With that said, it is important to keep in mind that AI is not meant to replace human beings, rather support and complement their skills and talents. 

To sum it up

AI is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and animals. AI can benefit the economy and all businesses by helping the evolution of work and increasing the pace and precision at which people perform tasks.