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Opinions expressed by Entrepreneur contributors are their own. Unless you've been living under a rock, you are sure to have heard of artificial intelligence (AI) and machine learning (ML): it is the current buzzword, and every technology company worth its salt talks about how AI is going to transform everything. The strange thing is that most business leaders, especially in consumer businesses, claim to be excited about AI, but they will be hard-pressed to give a tangible example of how AI has been used in their business, or what difference it has made to business performance. So, is this all just hype, or is there some real impact that AI is going to have on businesses? If you think about your everyday life, it is almost certain that AI-based technologies are an integral part of your everyday experience.