The Birth of AI

In 1956, a small group of visionary scientist researchers gathered at Dartmouth College for a summer research project. During this project the term Artificial Intelligence first emerged, dubbing the birth of AI.

AI has been around for over six decades, but it only gained significant attention recently. The spotlight on AI is primarily due to the advancements in deep learning neural networks, leading to the emergence and utilization of commercially available Gen AI tools such as Chat GPT.

AI development and research have not just been confined to the tech universe but also extended to other social, legal, and business fields. Comprehensive knowledge of AI applications in different business domains and disciplinary fields such as management, psychology, marketing, etc can provide practitioners with the right focus for investment and application of AI for businesses.

The increase in the popularity of AI has led to massive investments in multiple sectors. For example, some corporations have increased business valuation through new dimensions of resources by making their services and products 'intelligent’. Facebook, Google, and Microsoft are some of the giants that have made technology commercially available for people in the form of APIs (application programming interfaces), deep learning libraries, personal and professional agents, chatbots, robots, and many other exciting products

A new forecast from the International Data Corporation (IDC), Worldwide Artificial Intelligence Spending Guide, shows that global spending on Artificial Intelligence (AI), including software, hardware, and services for AI-centric systems, has increased prominently from $12 billion in 2017 to nearly $118 billion in 2022 and will surpass $300 billion in 2026.

This rapid spike in the funding amount represents the likely involvement of AI in almost every sector of the business world. Generally, the organizational impact of AI can be seen on multiple levels in workspaces, risk management, decision-making, policy-making, documentation, financial analysis, marketing, media, design, expert systems, and information infrastructure.

At Liquid Technologies, our Design Thinking approach helps us maintain our focus on constantly adapting to change. Artificial Intelligence has not only brought rapid changes but also entirely shifted the business and technological paradigm. We have smartly integrated Artificial Intelligence and Machine Learning within our workspaces, workflows, and workforce. As early adopters, our consultancy services focus on bridging the gap between humans and machines, fostering trust, and facilitating innovation for sustainable growth.