Artificial Intelligence (AI) is reframed as a cognitive engine driving a novel productivity revolution distinct from the Industrial Revolution's physical thrust. This paper develops a theoretical framing of AI as a cognitive revolution akin to written language - a transformative augmentation of human intellect rather than another mechanized tool. We compare AI's emergence to historical leaps in information technology to show how it amplifies knowledge work. Examples from various domains demonstrate AI's impact as a driver of productivity in cognitive tasks. We adopt a multidisciplinary perspective combining computer science advances with economic insights and sociological perspectives on how AI reshapes work and society. Through conceptual frameworks, we visualize the shift from manual to cognitive productivity. Our central argument is that AI functions as an engine of cognition - comparable to how human language revolutionized knowledge - heralding a new productivity paradigm. We discuss how this revolution demands rethinking of skills, organizations, and policies. This paper, balancing academic rigor with clarity, concludes that AI's promise lies in complementing human cognitive abilities, marking a new chapter in productivity evolution.

Thought I'd write this short note on what Machine Learning and Artificial Intelligence are and their business relevance. If I look at it holistically, saving time and gaining insights are the two biggest gains from these technologies. Machine learning gives computers the ability to program themselves without explicitly asking command for each and every task given to it. Machine learning develops programs that help the computer to access data, learn it and compute the tasks given accordingly. This helps computers to execute tasks automatically without human intervention.

The government will aim to double the country's labor productivity to 2 percent in the three years through 2020 from 0.9 percent, the average in the five years through 2015, informed sources said. The government is set to include the target in a package of policy measures it plans to adopt on Friday to help realize a "productivity revolution," an initiative designed to ensure sustainable wage growth and overcome deflation, the sources said. The policy package is also expected to call for increasing corporate capital spending by 10 percent in fiscal 2020 from the fiscal 2016 level and achieving wage growth of at least 3 percent every year during the three-year intensive reform period through 2020. The government is set to pledge that it will utilize all policy measures to improve productivity, including the greater use of big data and artificial intelligence technology. Also in the package, the government plans to reduce corporate tax burdens to internationally competitive levels for companies actively boosting their wages and capital expenditures.