Over the past few decades, artificial intelligence, or AI, has morphed from science fiction into an integral part of 21st century life. And what we've seen so far is just the beginning. Experts expect its use to skyrocket in coming years, and market researcher IDC forecasts that by 2020 spending on AI will rise nearly 500 percent to $47 billion from current levels. As Goldman Sachs (GS) noted in a recent report to clients, AI's potential appears boundless. IBM's (IBM) Jeopardy-playing supercomputer Watson may be the technology's best-known example.

Over the past few decades, artificial intelligence, or AI, has morphed from science fiction into an integral part of 21st century life. And what we've seen so far is just the beginning. Experts expect its use to skyrocket in coming years, and market researcher IDC forecasts that by 2020 spending on AI will rise nearly 500 percent to $47 billion from current levels. As Goldman Sachs (GS) noted in a recent report to clients, AI's potential appears boundless. IBM's (IBM) Jeopardy-playing supercomputer Watson may be the technology's best-known example.