The omnipotent mythology surrounding artificial intelligence and machine learning, particularly as it relates to investing and trading, is the real bubble that needs to be burst. Such are messages from two of the quantitative trading world's brightest minds. Speaking at the Bloomberg Markets Most Influential Summit Wednesday, David Siegel, founder of the 37 billion Two Sigma Investments, warned the audience that artificial intelligence lacks common sense. Seven days ago Ewan Kirk, founder of the 4.5 billion Cantab Capital Partners and an original managed futures CTA pioneer, penned an influential piece in Institutional Investor titled "Beneath the Sizzle of Artificial Intelligence." His advice to investors was clear: buy the steak, not the sizzle.

The excitement around artificial intelligence (AI) has created a dynamic where perception and reality are at odds: everyone assumes that everyone else is already using it, yet relatively few people have personal experience with it, and it's almost certain that no one is using it very well. This is AI's third cycle in a long history of hype – the first conference on AI took place 60 years ago this year – but what is better described as "machine learning" is still very young when it comes to how organisations implement it. While we all encounter machine learning whenever we use autocorrect, Siri, Spotify and Google, the vast majority of businesses are yet to grasp its promise, particularly when it comes to practically adding value in supporting internal decision making. Over the last few months I've been asking a wide range of leaders of large and small companies how and why they are using machine learning within their organisations. By exposing the areas of confusion, concerns and different approaches business leaders are taking, these conversations highlight five interesting lessons.

Artificial Intelligence (AI) has always been the subject of dreams and visions about the distant future of humankind. Even though we are nowhere near a conscious robotic system, nowadays, AI systems are ubiquitous and showing tremendous successes in various fields of our everyday life. We are using these on a daily basis, often without even noticing. Whether it is the Virtual Personal Assistants on our mobile phones (such as Siri, Google Now, and Cortana), self-driving cars, the ranking of the web pages given your search query, or the classical textbook examples such as spam filtering and recommendation systems of online media providers and marketplaces like Amazon. Various fields of AI have made a major leap forward in the recent years. As most AI systems are too complex to be defined manually, we have to resort to automatically learning rules and patterns from data using sophisticated Machine Learning (ML) techniques.

It's no secret that I love technology. From the domination of mobile to the latest in recruitment tools and gamification, and how video and live streaming is having an impact on hiring and training--changes are afoot that many of us couldn't have imagined 15 or so years ago. The reason this "tech meets HR" marriage is so exciting is how quickly the technology evolution has disrupted HR and enhanced the way HR professionals get things done. Now there's another big disrupter on the horizon, one that you would be wise to keep your eyes on: Artificial intelligence. In layman's terms, artificial intelligence (or, AI as it's commonly referred to), is an area of computer science where computers are "developed" to behave much the way humans do.

Despite its old fashion, Victorian era style the Frankenstein is still worth reading and studying at the light of today's progress and madness in artificial intelligence (AI). I read Frankenstein the same summer I discovered Asimov's Robots Cycle, and I can't help but relate the 2 centuries old novel to The Naked Sun. If you had to read only one of Asimov's Robots novel, pick up The Naked Sun. It revolves with a paradox in Asimov's 3 Laws of Robotics where a robot ends killing a human. Did you ever notice how we often call Frankenstein's creature by the name of its creator?

Google took on rivals Apple, Samsung and Amazon in a new push into hardware Tuesday, launching premium-priced Pixel smartphones and a slew of other devices showcasing artificial intelligence prowess. The unveiling of Google's in-house designed phone came as part of an expanded hardware move by the US company, which also revealed details about its new "home assistant" virtual reality headset and Wi-Fi router system. The San Francisco event marked a shift in strategy for Google, which is undertaking a major drive to make Google Assistant artificial intelligence a futuristic force spanning all kinds of internet-linked devices. "We are evolving from a mobile-first world to an AI-first world," Google chief executive Sundar Pichai said. "Our goal is to build a personal Google for each and every user."

This episode includes some amazing stories from some brilliant guests all talking about technology and its impact in our modern world. First you hear from Jim Hendler. Jim is an artificial intelligence researcher at Rensselaer Polytechnic Institute, United States, and one of the originators of the Semantic Web. He talks to us about AI and privacy issues on the web. He has a new book out soon so be sure to get it here.

Even though it was billed as a hardware event, Google's product launch Tuesday was really about artificial intelligence, which is now under the hood of almost all the new gear coming out this year. The power of Google's computer brain is a result of all the searching you and everyone else in the world have done on Google over the years. And now the company is using all that data to build a voice-enabled personal assistant, which will debut on Pixel, Google's new smartphone, as well as Google Home, the company's answer to Amazon's Echo. Google CEO Sundar Pichai said they've gotten really good at helping people figure out what they want to know. Google's Knowledge Graph, that small box on the top of search results with the quick answer you're looking for, now holds 70 billion facts, all of which help power its new AI assistant.

Microsoft Corp. announced on Thursday that it will be expanding its artificial intelligence efforts by launching the Microsoft AI and Research Group. The organization, which will be led by Harry Shum, will bring together more than 5,000 computer scientists and engineers. "We live in a time when digital technology is transforming our lives, businesses and the world, but also generating an exponential growth in data and information," said Microsoft CEO Satya Nadella in a statement. "At Microsoft, we are focused on empowering both people and organizations, by democratizing access to intelligence to help solve our most pressing challenges. To do this, we are infusing AI into everything we deliver across our computing platforms and experiences."

Back in 2010, an Intel researcher said 1,000-core processors would be feasible. We're in that era, and the race to make chips faster and more power efficient is gaining steam. The latest mega-chip is a 1,024-core processor called Epiphany V, which was announced by Adapteva on Wednesday. Adapteva claims it will have enough juice to outperform some of the latest gaming and server processors. It has a mere 24 more cores than the 1,000-core KiloCore, a test chip made by researchers at University of California, Davis.