Artificial Intelligence — Why all the hype?

Article posted on Medium by Jack Garza of SVB Financial on Jan 11, 2018. 

Artificial Intelligence (“AI”) is popping up in conversations more and more in tech and non-tech circles alike. Andrew Ng, a leading technologist in the space, describes AI as “the new electricity,” predicting that it will trigger the same widespread innovation that fundamentally transformed human life following the discovery of electricity in the 18th century. But what is AI?

AI has been a moving target since the term was coined in the 1950s, when early researchers attempted to create an Artificial General Intelligence (AGI), which would be able to do any task at or above the competency of a human. Over the next several decades, there were innovation booms followed by busts (frequently referred to as “AI winters”) during which AI fell out of fashion and innovation waned. Moreover, many of the major breakthroughs viewed as belonging to the AI realm were eventually seen as having little to do with AI at all (i.e. the ability to play chess).

Jana Eggers, CEO of SVB client Nara Logics, defines AI from the end user perspective as “a product that feels smart to the end user — and gets smarter”, which emphasize the functionality required to proceed the science, one which users can easily interact with.

“A product that feels smart to the end user — and gets smarter”

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