The Coming AI Spring by James Manyika & Jacques Bughin - Project Syndicate

LONDON – Artificial intelligence (AI) is all around us, generating excitement about how it could increase prosperity and transform our lives in multiple ways. Yet the technology is also likely to be disruptive. Policymakers and businesses must therefore try to capture the full value of what AI has to offer, while avoiding the downside risks. The idea of AI has been around for more than a half-century, and we have lived through previous periods of excitement followed by long stretches of disappointment – "AI winters" – when the tech didn't live up to the hype. But recent progress in AI algorithms and techniques, combined with a massive increase in computing power and an explosion in the amount of available data, has driven significant and tangible advances, promising to generate value for individuals, businesses, and society as a whole.