Artificial intelligence (AI) has reached a commercialization tipping point. As a result of several technology advancements that are now converging, major investments by technology companies and start-ups, and demand from businesses, AI is starting to have a major impact across markets. Advanced industries such as automotive, semiconductors, and industrial manufacturing could harness AI over the next decade to discover entirely new ways to make things better, cheaper, and faster. While popular reporting on the topic often tends to focus only on generating new business ideas, companies can directly apply AI to their current core business processes and operations. However, many companies have yet to think through how they could embed AI in their strategies and businesses.