Artificial intelligence is no longer a sci-fi buzzword – it's being adopted by businesses

In what is being called the start of the cognitive era for computing, IBM's new Watson computer program is able to mine data to think and solve problems. Significantly, it learns from its mistakes. Watson is already being used by businesses to deliver a competitive advantage. Examples include ANZ, one of Australia's largest banks, the energy company Woodside, and Melbourne's Deakin University. While artificial intelligence (AI) has benefits, there are also concerns.