Modern businesses operate in a sphere where artificial intelligence (AI) is commonplace. It provides time-saving features, personalises marketing campaigns, detects threats and so much more. Today AI has seamlessly integrated its way into everyday life, allowing for frictionless buying experiences, personalised news feeds and intelligent marketing insights. When your Facebook feed serves up an ad for a dress from your favourite designer, that's AI. When you use Google analytics to monitor your website's traffic – that's AI too.

From USD 2.3 trillion in 2017, the worth of eCommerce transactions is estimated to reach USD 4.88 trillion in 2021. But the meager contribution of eCommerce in the total retail sales (In the same period, from 10.2% to 17.5%) explains a huge gap which, in fact, is an opportunity to tap into. Wisitech explores its critical usability in our regular business. How Familiar are We to AI or Artificial Intelligence? You might have noticed your kid making use of Google Assistant, Siri, Cortana or Amazon Alexa to seek answers from Google, control devices, and apps, or place an order on Amazon.

In 2013, Oxford University published research that said accountants and auditors have a 94 per cent chance of being replaced by robots. It is no surprise that areas of the finance function are at risk of automation. Artificial intelligence (AI) systems are powerful, and are improving quickly and constantly. Evidence from areas like medical diagnostics show that algorithms can make vital decisions – and perhaps better ones than people. Attempts to ignore the fact that machine learning is superseding human capabilities are fated to end in failure.

Every White House leadership change causes speculation about what pre-existing initiatives the incoming administration will embrace or eliminate. I encourage President-elect Trump and his appointees to start their term ready to ensure that artificial intelligence (AI) gives our economy the competitive edge it needs. The Obama administration recently released its recommended approach for how the U.S. should promote AI research and development. It published balanced suggestions to guide public investment, encourage private-public collaboration, and account for national security, public safety, diversity, and ethics. It was a good start.

The phrase "Artificial Intelligence" was first used about sixty years ago by four computer science professors while working on a summer project. The hope was to figure out how to make machines use language and perform abstract thought. "We think that a significant advance can be made if a carefully selected group of scientists work on it together for a summer," the now famous project proposal said. In retrospect that was almost hubristically optimistic. We still don't have software that can talk or write as we do, or perform abstract reasoning.

Sixty years ago this summer, four computer science professors established a summer project aimed at creating "artificial intelligence"--the first time this phrase was ever used. The hope was to figure out how to make machines use language and perform abstract thought. "We think that a significant advance can be made if a carefully selected group of scientists work on it together for a summer," the now famous project proposal said. In retrospect that was almost hubristically optimistic. We still don't have software that can talk or write as we do, or perform abstract reasoning.